Getting the loan is often about just talking your way into it.

If you have had the car loan that is great, banks will appreciate that in their consideration, and they will understand the fact that your folks co-signed on it.

There are some options other than straight "Motorcycle" loans. You can get Personal Lines of Credit, or you can open a credit card - often times they will have no interest incentives for the first 12 months and you could simply request a check from the carrier and stroke it. Hell, not a week goes by when my CC companies don't send me a set of checks that are no interest asking me to use them.

Personally - I am sure you will be fine, and I agree with the others. Go to the bank and talk to them. They like to put a name with a face, understand your situation, and work with you. They are in the business of lending money. Don't worry about the rate. It is inconsequential on that amount of money, especially if you are confident you will pay it off in a couple months....

Regarding Insurance. If you use a personal loan or funds not directly collateralized by the motorcycle (such that it doesn't have a lien on it) you won't have to fully cover it. I for one advocate not fully covering bikes worth that amount of money. You are better off just fixing them yourself, than filing a claim and having that claim in your record. It will truly probably be cheaper in the long run.

Get out and talk to some lenders - they'll make it happen.

 

im in Brighton, Howell area.


Now say i am getting this loan regardless the price of the bike. would i take the loan when i find the bike or have the loan in my hand so the bike i find doesnt get away?


I would ofcourse rather get the cheapest bike i could find right now being that i am only going to ride it for a year and upgrade next season. but i dont want an odd looking bike that looks as if it were built 50 years ago.

other forums are trying to talk me out of ANY 600. im sure everyone has there opinion on that situation but the choice really comes down to who's riding it. i have been looking at sv650's ninja 650r's and some other smaller bikes. i honestly cant stand the way they sound. i know thats a poor reason to shoot the bike down because they do have a decent look and im sure i would enjoy the ride just as much.


anyways, im not HOOKED on the F4i so if anyone has any decent beginner bikes let me know, or let me know where i can find one. im still going to try to take the loan for various reasons. so the less money i spend on the bike i will just come out ahead sooner.

 

This is the only smart thing to do. Anything else and you are buying into the american way.

GIVE ME GIVE ME GIVE ME What I can't afford!!!

 

I work at a bank and have worked in credit before. The big things they look for on this is collateral value (compared to loan), work history, credit score, debt to income ratio, and relationship. Even if you open a small checking account that will not help out with getting the loan, but like said before it will give you a lower rate usually. No bank will probably finance you now, but maybe a credit union if you are lucky. Or if your car loan is through a bank or if you have accounts at other banks then go there first as they know you the best. good luck!

 

usually do not recommend this at all!!! But if you really want it you could get a credit card and put it on that. Look for a low interest rate credit card, as that will actually probably be lower than a motorcycle loan anyway and much easier to get. And usually you can get a good intro rate on a card for like 6 months or so. So if you are paying it off by then, then you will be good man.