nopistons94

So yea, thinking about parking the FD for winter and getting a bike to ride till next spring (yes I have a truck too for snow).





Now I want to get it soon before it gets too cold, but I don't really want to finance a 7500 dollar brand new bike or anything. Is there anyway I can finance a used bike ? Meh so many options





Im getting a YZF 600 though

Shane.Trammell

sounds like a good idea to plan on riding a motorcycle in the winter in nj. you can probably finance anything if you have good credit. just wont be able to finance anything for more than its worth, and then youll have to have full coverage. if you have good enough credit, which at your age you probably dont, parents that will cosign, or some collateral, you could probably just get a personal loan for the bike and then you wont have to have full coverage

boxrs4sale

i thought you wanted a skyline

Baldy

Your payments would probably be lower on a new bike than a used bike. I was told (by banks) that they wouldn't finance a used bike because they aren't worth hardly anything to the bank if you don't pay, like too low collateral. If they did finance it, it'd probably be for a short time at a high rate.



My bike had a sticker of $5,999, I got a 4 year loan, and paid it off in 2 years. Before I paid it off, I think my monthly payments were like $140. I don't remember what the interest rate was.



It's not hard to call each bank and credit union and talk to them about interest rates and such. Get the info on the bike you want, and start calling around.

nopistons94

you can't always get what you want





good point about the full coverage thing too

RE87FC

I'm heavily into the M/C industry(its my job) and a guy your age financing a bike is not a good time. When I bought my first street bike 7 years ago(18yrs old), when I did FINALLY find a bank that would finance an 18 year old with a cosigner, my interest rates from the crdit union were 14%. Teh full cov. ins. that you HAVE to get with financing was 350 a month(again, 7 years ago) and that was with a flawless driving history and with an insurance company/agent that has been in the family for like 40 years. Good luck with your purchase but I suggest you save up, find a bike you can buy outright, and pay liability only. And wear a helmet

inanimate_object

Don't forget about the range rover before that, why do we even humour him?



Mark

nopistons94

good point. Looks like Ill just save up the extra few hundred I need and buy one outright. I wanted to do it so I could build up some credit but Im not paying that much if I already have the cash for used one

rowtareh

Dude, you keep wanting **** that depreciates. Insurance on a bike at your age would RAPE YOU!! And getting liability on something that is somewhat brand new, is not really smart.



Dude, just rock the bronco for the winter, pull the FD out in the nice weather, save your money and buy a home!!

nopistons94

insurance on a used bike is 455 dollars a year, got quoted for it already.