Financing

[L♥VE]

Any tips on financing a bike? I want an '08 ninja and will probably put half down.

[Ninjachic]

With half down you should be set, bank financing thru the dealership and maybe compare to what rate your own bank will give. What model you looking at?

[TwelveMag]

With half down and good credit you'll be fine...

Also remember to check the Out The Door price on the bike you want at OTDCycles if you google it you'll get the number for that dealer in Sanata Ana Ca call and ask what the OTD price is and make sure you offer that price where ever you go Out The Door should include tax prep and all the other BS fees...

Last year my friend got a 636 for 12k out here I called OTD they said 8k OTD so the next morning I went to my local dealer haggled for a bit and got it for 8k OTD :-D for the limited edition 636 titanium with red wheels and flames (I sold it though :-/)...

[PlayfulGod]

With half down you should be set, bank financing thru the dealership and maybe compare to what rate your own bank will give. What model you looking at?

she wants 08 Ninja 250R

[Ninjachic]

she wants 08 Ninja 250R

Good choice, great year to go for it too since they changed the look.

[acalliste]

I'm guessing you already have gear, since I've seen pics of you in some before, but if there is anything you still need, or want to replace anything, be sure to leave yourself enough cash for that. The dealership may not be the best place to get a good deal, and you don't want to end up financing your gear as well.

Not sure if you have proper riding boots or not, but if you don't get some. Don't underestimate the importance of good boots. Your feet & ankles are delicate and need to be protected. It's also easier than you think to screw up your lower legs, so get over the calf boots. You'll thank me later. :D

[Ninjachic]

I'm guessing you already have gear, since I've seen pics of you in some before, but if there is anything you still need, or want to replace anything, be sure to leave yourself enough cash for that. The dealership may not be the best place to get a good deal, and you don't want to end up financing your gear as well.

Not sure if you have proper riding boots or not, but if you don't get some. Don't underestimate the importance of good boots. Your feet & ankles are delicate and need to be protected. It's also easier than you think to screw up your lower legs, so get over the calf boots. You'll thank me later. :D

True but compare gear prices ahead of time. Because, they should offer you a discount of 10 to 20% off either a gear item or aftermarkets. And I didn't finance that portion of it. I walked back to the parts counter picked out my pipe and paid my discounted price for it on the spot.

Also sometimes the aftermarkets are several months behind on availability for new models.

[MrNoBody]

Most Stealerships have been doing credit card financing, so if you can qualify for a C.C. for the remainder of the price you should be fine.

[TwelveMag]

CC's suck!!!! Try to find a place that "cuttles" with Harley Davidsons bank they no longer do sportbikes but a 250 isnt a sportbike in their eyes...

[Cutty72]

Go to your bank first. See how much you can get approved for and what type of interest rate they will offer.
Then go to the dealership, and see what they offer for financing.
The dealerships around here offer financing through the manufacturers. That type of financing is just like a normal credit card.
What that means to you is 2 things.
1. probably has a decent into rate, but that will jump within a couple years.
2. you aren't REQUIRED to carry full coverage insurance on your bike.

weigh out the pros and cons of both, and see what happens!

GOOD LUCK!!!

[1hottbikechic]

I would never finance through a dealership. I did mine through my credit union and got a fantastic interest rate. Shop around first, try to weigh all your options

[Grendel Prime]

I would never finance through a dealership. I did mine through my credit union and got a fantastic interest rate. Shop around first, try to weigh all your options


+ 1 for the credit union.
I've financed my last two bikes through them and gotten way better rates than I could have anywhere else.

When I'm finally financially recovered - that's the route I'll likely go again if I have to finance anything at all (though the plan is to pay cash for the bike I want).

[RedRidingHood]

I would say and think half down would get you that bike! That rocks hun. I wish you the best of luck with that.:grin:

I on the other hand, wanting the new 08 250, will prob settle for something used. Some little birdie round here told me I will most likely drop my bike many times (being first rider and all) so I guess I can see the point to getting myself a used one.

[Cutty72]

+ 1 for the credit union.
I've financed my last two bikes through them and gotten way better rates than I could have anywhere else.

When I'm finally financially recovered - that's the route I'll likely go again if I have to finance anything at all (though the plan is to pay cash for the bike I want).

With the driving record I had, couldn't afford full coverage ins. With the revolving credit account that the dealership offered, I didn't need it.

Same way with crappy credit... many times a dealership will give you money, while a bank will not.

[Tango1300]

I deal with this issue every single day, with the exception being Sundays, Mondays and track Holidays! ;-)

If you can join a Credit Union... Do IT! Best possible financing available! If you cannot qualify, then the best bet is to shop your options. Be sure that the money you are financing is going to the bike and not just the dealership's added percentage fees. I used to work for a HUGE dealer here in Houston that would get someone financed at an approved 9% and then tell the customer they were approved at 17%!!! Most people buying a Sportbike are some blinded by the purchase they do not look at the fine print. The worst part of that is most financial papers do not disclose the difference the dealer is paying for the financing and what the customer is getting stuck for. That is between the phone conversation the Salesman or Finance guy has with the lender. There is nothing worse than thinking you bought a bike for X and it really costs XXXX!!

So, my suggestion for financing is to look up Sheffield or HSBC and get a pre approval before going to the dealership. This will give you an advantage before going to the dealership by having the cards in hand. HSBC & Sheffield are the two largest lenders for Motorcycles in the Country, HSBC being the lender for Suzuki & Kawasaki exclusively.

Also ask the salesman if he will be getting a kickback on his "Rewards Card" for your purchase. This is a debit card that salesmen get that can pay up to $800 bonus per bike on certain models. If they are getting a bonus, they may be more willing to cut the price of the bike & fees since these bonuses are paid not from your sale but manufacturer's incentives.

If anyone wants more info on this stuff... just let me know.