ok iv been to a couple of manufaturers web site.and all of them have a price estimate that will estimate your monthly payments on the type of bike the apr and how much for a down payment.when i go to any web site.it being suzuki,kawi,honda,yamaha ect.i get real low estimates on a 600.like under 200 a month for 60 moths financing.i kno with the apr overal your paying alot more but im not to concerned with that rite now.i graduate college in 2 years so with a 5 year plan ill be str8.ill actauly be able to pay it all off in 4.but back to my question.are these estimate accurate.can i really expect to finance a bike(60 months) and get under 200 a month.i also herd if you finance thru a dealer you are not required to carry full coverage.do any of you know if this is tru.(yes i kno if um gettin a new bike i want full,just curious) i also heard that in order to do that you need to be on the dealership credit card witch intrest goes up verry high after 2 years maybe sooner i am just trying to figure out a time line on when i will be able to afford to go into the dealership and purchase my first ride. i was talkin to my friend and he was sayin you could go in with 800 and walk out with a bike (financing that is) what is your opinion on this. any help is appreciated.

im only 20. iv been saving for a bike for about 2 years now.had to spend 5 grand on my car last year though (i kno.yall like what kinda busted a@# sh@# he drivin).i now have about 3 grand in da bank for it.and want to put about 1200 down.im tryna figure out how much the monthly paymenst would be just for the bike.like i said i graduate college in a couple years.so once im out and get a real job i could pay the rest off in full.so just tryna manage for these two that im stuck as a lifegaurd.

does anyone know what coverage is required when financing thru the dealer...if it wasnt for the damn insurance rates.i wouldnt be having this problem...

and how much did you have all togetehr when you prurchased your first or a bike for that matter.ill have bout 3 grand in da bank in two months (like i said 5 grand on a damn car last summer).you think thats enough to start financing it? or should i wait to get a lil more in the bank.

 

I just pay cash...

 

just get a personal loan. the interest rate will be a little higher, but you dont need ANY insurance

 

oh yeah or you could just SUFFER and ride a bike thats a few years old for now

 

Why in God's name would you want to buy new?

You're a broke college student with TWO YEARS OF SCHOOL LEFT!!!!

You're out of your mind dude, just take out a $1500 or 2g loan and buy a nice used bike and save your money.

 

because the girlys like it

 

here ya go- i work in sales at a suzuki shop. you asked a long *** question, so i have a long *** answer. if you dont already have "GOOD" credit, dont waste your or the shops time. by good i mean credit established from 2 or more accounts, in good standing- meaning not missed or late pays. personal loans, car/truck, *student loans*, credit cards etc.. and no, cell phones, apartments and other dumb stuff doesnt help your credit. the only time that stuff shows up is if you ****ed up and didnt pay it. and if you have or had a brankrupcy, youd better plan on paying cash. if any of this applies- quit reading and go make some money cause you'll need it!

now, if you have good credit: in most shops the finace department is seperate from everything esle at a shop. meaning that they're only job is to get you to sign for the loan. and they're salery comes from profits made from them. so they can and will bump your intrest rates! say you get approved for 9.95%- they can tell you 12, 13 and even 14.95%. and thats where they get there money and profit. this doesnt happen everytime, but often. you can fight this buy telling them you want a better interest rate or you wont buy. stop here and get out your calculators. the difference between 1% on a $8000 loan for 60 months is less then a hundred dollars when it is said and done. so if you pay extra one time, it works out the same. this isnt a house where 1 point means something. and you are buying a toy, so you can expect anywhere from 7.95- 18.95%. now these guys have to eat too. this is where warrenties and other stuff comes into play. they want to add stuff on cause they get extra money. is a warrenty good? YES! if you cant strip a bike, drop a motor, open it up, fix it and put it back together right the 1st time and get parts for free, then you want the warrenty. i blew out 2nd in my r6(very comon). warrenty covered all of it! over a $1200 job. my warrenty costed $600. which if your finacing means about $6 a month. and resale with a transferable warrenty will treat you well in the end.

promotional rates: zero down/payment/interest, $25/month etc... are all credit card promotions. sounds great right. it is if you use it right. if you know that you have a big check, money waiting to sell something else, planning on paying it of super fast- take advatage of these programs. if you think- awesome! only 25 bucks a month, you will get screwed in the end. heard of people being upside down? this is how it happens. you have to pay for it before the interst jumps. other wise you'll never pay it off. just like your credit card

yes you can get a 600 for under $200 a/month. depends on price, apr, money down etc... you can expect to pay between $175 and 220 for a new 600.

check what you are paying for! every bike has frieght, prep, setup on the price. these are real items, just dont pay too much for them. my frt,prep, set up is all $299. i know other shops that cost up to $1000! now they may offer you a better price on the bike, but they will get your money. always talk out the door prices not bike prices. this differs greatly. also, dont go out of state to get your bike. go to your local dealers first. they are the ones that will fix your bike not the guy 3 hours away that says he'll give you a better deal and a free hat. out of state riders go to the back of the line when it comes to service and warrenty work.

good luck

 

Can't get a better explanation than that.

 

damn you guys have helped.i see why you buy used now lol.speaking of witch is this a good deal.this guy is selling his 02 gxr 750.its in good shape and has lots of extras.he wants 6000 for it.ill have 3 grand by the end of summer.im thinkin of taking out a small loan bout 4000 dollars to get the bike if he still has it by then.you think i should?i only will have 3 gs so once i spend it on da bike ill be done (he throwin in gear also) til i get a job witch will be rite away so can start paying off the loan. how much do you think monthly payments will be on a 4000 laon.im thinkin loans do not have as high intrest rates as bikes.am i rite ? do they have laons that give you like a month or two before you have to pay em back.cuz by the time i get it ill be goin back to school.so want to make sure i get a job down there.anyadvice is helpfull although you already helped a ton.

 

[QUOTE=king] how much do you think monthly payments will be on a 4000 laon.im thinkin loans do not have as high intrest rates as bikes.am i rite ? QUOTE]

i got approved for 4000, 500 down makes the loan for 3500, my payment on that was 120 a month, at 11% int. if you make a down payment, you shouldn't have a payment due for 30 days, thats my experience

 

I bought an new 03 gsxr 600 last year with no money down and I'm paying $190/month for 60 months through Suzuki. I'd also recomend getting the extended warrenty. It's already paid for itself in the first year. As far as insurance, I know Suzuki doesn't require it "i think" if it's under 10K. But I've looked at getting a loan through banks and they required full coverage. Just so you know, I'm 22 with no accidents or tickets and insurance was over 2K a year. But if you live in Montana you don't have to carry insurance at all on bikes :YEAH

 

i got a personal loan... $3500... i pay $81 a month over 5 years (~12%interest) but i plan on paying it off sooner

 

I paid 3500 for my 02 gsxr 750, clean title, not wrecked. Pay that if you want to, but it sounds high to me.

 

wow were are you gettin your bikes from.3500 for an 02 gixxer.is that the norm or blus book value?all im seeing is 01 and up goin for at least 6 grand.or maybe i should be lookin harder.

and yea i want to get a personal loan for about 4000.so that way i wont be required to have full coverage.i kno if i take out an auto loan i will be required.but andthing under 150 a month would be do-able i guess.

just tryna get my *** on a bike by dec (im in Fl most da year).so thats more money from work comin and maybe a loan.so think ill be able to find a good deal by then.plus by then people are gona be lookin to sell bikes more than now since it will becoming into winter rite?

 

You just have to be in the right place at the right time, I had been wanting one for awhile. A guy got arrested, he needed bail, I needed his gsxr and we made the swap. Carry 4 grand with you at all time while you are bike shopping, eventually, you will find somebody desparate.

 

lol
lmfao
well thats one way to go.but i doubght ill find a deal that damn good.glad you did though.but also dont think ill just be walkin around wit 4 gs on me.i lose my keys to damn much but i have fount em again for the 71st time.one of these days im a just not find em.wouldnt want that to be the 4gs.

 

$3500 is a good deal for sure. and i always keep cash laying around strickly for spare bikes. cause sooner or later- someone will have to sell their bike right now and will take a loss. i've had over 15 bikes in the last year & 1/2. my goal is to be able to atleast make $500 whenever i flip bikes. every year i keep atleast one bike and ride it all year and still sell it for more then i paid. but since i work at a shop, i have more deals come through then the normal person out looking.

 

king- if you have to finance a bike, there are a couple ways to do it. 1st if you go through a shop and finance it there most of the time you dont have to show proof of insurance. very few lenders make you through a shop. but the lender will have the title. if you get a personal loan, it's unsecured meaning theres no colateral. so in this case you will have the title in hand. this is a good thing since it's a toy. another way of doing it is if you own your car, you can get a loan on the car and use that cash to put towards a bike. or a home equity loan in some cases(crazy low aprs, but you have to own a house for this to work).

think about the insurance thing real hard. cause i know alot of people that have been screwed here. if you dont cover full coverage and the bike is stolen, you will be paying for a bike that you dont own until it's payed off. if you are gonna ride it on the road, i'd insure it. every state is different.

i cary full coverage on my street bike. but my stunter that stays in the garage or in a parking lot, i dont. theres no need to. if it gets stolen though, i'm out. just some food for thought. i'm glad your asking questions, thats the best way to figure out the right thing to do

 

sh*t thanks for takin the time to help me out.but what i am thinking of doin is this.i will have about 3000 by the time i go back to school.hopefully by november ill have around 4000-4500.i plan to take out a personal finance loan for about 4000.so that i will be able to just go ahead and buy a used bike.probaly a gixxer 600 or 750.any year from 01 to recent.i have seen a couple 02 750's for about 6000.so ill buy used.put liability on the bike (yea i kno if its stolen im screwed but with getting quoted at 5000 for full think i have no choice).so i would have my bike and will being paying of the loan.witch will proly run bout 100-125 a month witch aint bad to me seeing how i had originally planed to be spending 200 a month on a new bike.so ill be building my credit as well witch i also want to do.witch is why i didnt mind buying new for those who were wondering what i was thinking.so thats the plan.what do ou guys think.i have no other financial obligations.my only reason for working is so i can get a bike(at this time).i will wait until i get back to school before i get the laon though to ensure that ill have a steady job to be able to start paying the monthly payments on time.is this a good plan.any suggestions? iv been pushing it off to long.sayin o ill start saving now.or ill get it next summer.NO i want to be riding out there with you guys and not looking in envy any longer......so hows my plan guys.sound good?

thanks in advance you guys have already been a ton of help.the best responce i have gotten from any board.the other boards just said buy a cheaper bike or just wait