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how did you pay for the bike?

  • financing

    Votes: 17 47.2%
  • paid for

    Votes: 19 52.8%

  • Total voters
    36
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Discussion Starter #1
i know the older guys have probably bought their bike

how many of you out there are financing your bike right now?

how much per month? how long is it going for? how much downpayment?
 

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Super Moderator
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216 a month for 60months, $2000 downpayment. I'll have the bike paid off sometime next year. 2001 gsxr-600.
 
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Discussion Starter #3 (Edited)
Canadian_Gixxer said:
216 a month for 60months, $2000 downpayment. I'll have the bike paid off sometime next year. 2001 gsxr-600.
how much more does it work out to be if you had paid for all of it at once?
 

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Devil's Advocate
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0 down 0 paid, my first payment will be feb 2003. I'm going to smack down as much change as I can ahead of time, then refinance whats left for minimal payments.
 
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Discussion Starter #5
Mr. Murphy said:
0 down 0 paid, my first payment will be feb 2003. I'm going to smack down as much change as I can ahead of time, then refinance whats left for minimal payments.
how does that work!! you won't have to pay for it for a year?


why i am asking is i have just landed a decent job
and i plan to buy a bike, but if i were to pay for it at once, i'll have to wait till the end of summer so...that's my dilemma

trying to deciding if i should go for something small like an old 500 ninja or finance a new bike instead

thanx
 

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I put 8000 down and had it paid for in 3 months just before the free interest ran out.
 

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Back Again!!
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$0 down..$215/month for 1998 VTR...2 more years to go. The Interest is really what you have to pay for, but with bank rates and manufacture rates its not so bad.
 
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Discussion Starter #10
paid for...always buy my vehicles cash because debt makes me nervous;)
 
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Discussion Starter #11
bugs said:
$0 down..$215/month for 1998 VTR...2 more years to go. The Interest is really what you have to pay for, but with bank rates and manufacture rates its not so bad.
what's a good bankrate/ manufacture rates nowadays?


i was at modern a few mths back and they were trying to talk me into financing one..maybe i should go back there
 
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Discussion Starter #12
308/mo (60 month term) - Prime +2? Interest through Royal Bank - oh and I had to put up the entire money as collateral to get the loan. Silly isn't it? - I have the money.. but I don't have credit so I have to pay interest to get credit and tie up 15,000 dollars for 3 years. Thank goodness the GIC comes out before the bike payments end..
 
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Discussion Starter #13
umm....i won't even have 10000 to put down as collateral if i wanted to get a bank loan

why did you do it through the bank instead of financing through the manufacturer?
 

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Lease/rent, drive it for a year and get a new one. I pay $300 a month tax in 2002 R1, 0 down.

I ride alot and I find that new bikes come out all the time that I want, and I am in a position where I can make the payments and not really worry about it. my interest rate is at prime plus a 1/2, good to have connections in the banking world.

Also, I put on lots of miles so if I was to keep a bike for 5 years, it would have over 100 000 km on it and would be worth nothing on the resale side anyway. Maybe when I get older and decide to get another BMW that I can ride for 500 000 km then I will buy it. But for now, I am happy paying and changing bikes every year or so.

Just my view.
 

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Veritas Aequitas
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mine's all paid for!

but that's not hard to do when you only pay a couple grand for an old cheapy! :laughing
 
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Discussion Starter #20
anyone know what constitutes "good enough credit" in order to be able to finance one?
 
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