I think I'm lost here... so why is this thread entitled "uh oh??"

 

'Cause The Kid is gonna be riding a shiney new bike! I honestly never thought I would actually get a new one, a couple years old at best.

Uh-oh because of my freakish love of articulated riding combined with speed and a bike that can do more than I can. I'll never tap out the potential of a brand new 600RR. You'll never see my buying a 1000 - don't need it.

And mainly because I"M GETTING A NEW BIKE!!!

 

Most places, including my dealership, as for about 20% down on bikes, however, only about 15% of people end up doing it. I would say about 75% of the people walk out the door with $0 down. They will come out top the table and give you some <SRP numbers that will show about $199/mo with $2000 down. Thats where you play the game. You say you want that with $0 down, it usually happens.

Let us know how it goes!!!!

 

If your savings are getting less interst than your bike loan costs, then you should do it.

Congrats on the new bike. Rent a car one way and ride it back, enjoy.

 

I looked at doing that too when I bought my F4i. Then I sat down and my dad figured out that paying the minimum (this was with the stupid honda card) I would only be paying the intrest and after the 1 or 2 years whatever it was I would still owe the full value of the bike. Try getting a loan from somewhere else is what I would suggest. I mean if your girl is going to cosign I'm sure you could find a better intrest rate than 11%. I've got 6.39 for 60 months. My payments are 130 a month but I put $1k down or should I say my parents put $1k down. =) Yay for mom and dads!!!!!!!

Mike

 

Don't buy ANYTHING from those people (Route 66 Powersports)! And ANY place will finance you if you have a co-signer. And the co-signer can't get off of the contract until the bikes paid off! Just for the simple fact...why are they co-signing for you in the first place? Because you don't have any credit (no offense) and that lending company is going to hassle that co-signer until they get their money somehow. I took a few financing classes during my first couple of years at Ohio State...whatever the case maybe, I wish you guys the best, post some new pics of the bikes when you get them!

 

^ then how come after 6 months you can usually re finance and get the loan in just your name and take the co signer off ? well atleast here in cali u can

 

Havoc - you can do that becasue you are developing a payment history with that particular lender.

You people need to read the damn thing again. They will refinance in my name only after 12 payments.

I don't care about your classes, I live in the real world. This ain't my first auto loan, nor my first credit card, nor my first time shopping around for lenders.

I had an ex-fiance not make any payments on a car in my name for 8 months, it was repossesed. It's not that I don't have credit scholar boy (no offense ), it's that I have what we call, "bumps."

I know what I"m getting into and if you'll re-read what I already wrote - I've paid more for something I liked less.

Forget I said anything - I'm going around and around with this same shiite with a buddy of mine who seems to think that, "if you can get financing from one place, you can get financed anywhere." Yeah right. I played that game too. There are more lenders than dealers and dealers don't use the same lenders. Plain and simple. Again, this ain't my first rodeo.

At the end of the day I'm paying MSRP with an interest rate that leaves a bit to be desired. At the end of the day I'm also parking two brand new 600RR's in my garage. When I want loan advice, I'll ask.

Next time I'll just post pics and leave the details out. I thought I made it clear I knew what I was getting into.

D2M - hopefully that's what happens. Like I said, in the app I filled out I made it clear no down payment (I figured if I'm gonna be making payments I'm not gonna be putting any money down - as I said, I don't NEED a new bike). I'll keep ya posted.

The rest of ya can eat it.

Oh, and dude who had his parents buy his bike... , you obviously didn't read everything in here either.

Jesus I'm pissed now...

 

When I bought my bike, I tried to get a loan from my bank, and they denied me. If approved, I think she said I would have gotten 10.9% Anyway, I went to the Honda shop (just to look...famous last words)), sat on the pretty blue F4i, and had the owner of the shop convince me to try to get financing through Honda. They came back @ 16%, so I said, "Maybe next year!" He said he would get on the phone to someone (a computer spat out the first #), and they got me down to 11.9% I put a thousand down, and she was mine!

 

Congrats to you and your girl. Wish my girl would co-sign for me to get a RC-51!