Hey all.

I am currently in the research/saving stage of the motorcycle buying process.

Any advice on how to get a small loan (~$2000) to buy would be great...I'm strongly assuming that many don't just outright buy their bike.

I picked up a book on Japanese motorcycles, and I'm thinking it'd be sweet to get a cbr from the mid 90s.

Thanks for any suggestions!

 

welcome to CBRF

the f series bikes are great, what year are you looking at.

 

Good to have you w/ us. Welcome aboard.

Mid-90s CBRs are great to have IF you can find the right one. That is, one w/ lower mileage & a meticulous maintenance history...especially if you plan to ride it regularly. Immaculate condition being part of that, of course. If you're a project fixer-upper kinda guy, you can go that route as well. It will just take you longer to get to the enjoyment of riding.

As for your question/statement about most prob not buying outright... I have purchased only one bike new w/a bank loan, the rest of my bikes have been purchased w/ cash. The latter being the preferred method. I like to have the title in hand to determine the insurance coverages that I want, not what the bank will *require* if you have a vehicle loan w/ them.

As for loans... Well, w/ an older bike, you'll prob have to go the credit card cash advance route. Not many banks will make a loan on an older bike unless its a collector w/ documented value. Of course, personal loans are an option but usually require 2:1 collateral to get a loan granted. Too, personal loans usually have a higher interest rate.

Best just to save your pennies/dollars & pay cash on the barrel head & walk/ride away clean. ;-)

Continue doing your research & make a good well-informed decision. If you have questions, ask away in the proper sections.

As part of your research & riding prep, be sure to look into the MSF Course - Motorcycle Safety Foundation. Taking the course will benefit you more than you will know once you hit the road.

Good luck!