I know that if a buyer purchases a car using American Honda Finance does not need to provide proof of full coverage insurance at time of delivery of the bike but will they be calling or sending a letter to get a copy of the insurance at a latter date? The dealership that im buying from says that they will not, another dealership says they will. If a few people who are financing with Honda can verify, i would appreciate it.

 

I sold cars and did finace for about 4 years at a honda dealership. American Honda does have to have proof of full coverage insurance before you take delivery. If the dealer didn't get it from you Its their fault because honda needs it. If you don't provide them with proof of full coverage insurance or if it lapses they can and will force insurance on you. they tack it on to your payment and it's usually skyhigh like several hundred per month. you don't want that to happen.

 

Thank you very much, i sell Honda cars too. Automobile financing and motorcycle financing have very different parameters. Someone with actual experience with American Honda Financial for motorcycles please.

 

I financed my GoldWing through AHF and I never had to show them anything, nor did they send me any letters. Not sure why, though. You sure would think they'd want to make sure you had it insured.

 

thank you! anyone else with experience?

 

i dont know if honda does financing like suzuki, but instead of giving you a loan, its the equivalent of giving you a credit card with a balance the price of the bike. if this is the case, which i think it is, there is no lean on the bike, so if you dont pay or wreck it they dont care, cause you still have a $8000 credit card debt. and your credit will go to **** unless you pay it off. just get the insurance it will ALWAYS be cheaper than paying off $8000 for a bike that is gone. my cousin bought an '06 GSXR 1000 for $10,800 and let his friend ride it.....BIG NO NO, now he has a $10,000 loan and no bike....do you want this to be you? go to http://www.amig.com i pay $37/mo for full coverage, 21 years old, like 4 accidents on my record, unmarried. The '05 GSXR quote i got was for $74/mo full coverage. if you cant afford insurance, you cant afford the bike.

 

yeah not having full coverage on a new/newer bike is very very risky. even if you could get the bike out of the dealership w/o full coverage, the first thing i would do when i get home is get some quotes for full coverage.

 

The cost of full coverage insurance is just completely ridiculous. I'd rather not pay the money and front the money if i ever get into the wreck.

Anyone else with Honda Financial?

 

where do you live? what if it gets stolen? you'll be making payments on your invisible bike...

 

+1. I would coust me the same amount to replace every faring on that bike are it would for less than 2 months of insurance. I could by a bike for the same amount as i ensure the bike for!!!