NightRider Posted June 12, 2009 Report Share Posted June 12, 2009 With this becoming more and more a reality, to finance a motorcycle. I started looking around for dealerships on the web, and the phonebook. I was wondering if anyone could point me in the direction, of a good dealer? A place with a good selection, descent prices, good service, etc. Just looking for some opinion's, maybe even throw some places to stay away from. This motorcycle won't be paid for then and there, this will be financed. I would prefer not to have to put anything down. (who doesn't?)So the big question is, do most dealer's require a down payment? I have been looking at Rick Roush Motorsport's. Any opinion's or suggestion's greatly appreciated. Thanks Quote Link to comment Share on other sites More sharing options...
nochknstrps Posted June 12, 2009 Report Share Posted June 12, 2009 Any Credit union, they always have the best intrest rates. Also if you don't have a high credit score, say 650+ I wouldn't even think about it. Quote Link to comment Share on other sites More sharing options...
NightRider Posted June 12, 2009 Author Report Share Posted June 12, 2009 Any Credit union, they always have the best intrest rates. Also if you don't have a high credit score, say 650+ I wouldn't even think about it.I'll have a co-signer. Quote Link to comment Share on other sites More sharing options...
nochknstrps Posted June 12, 2009 Report Share Posted June 12, 2009 check you pms Quote Link to comment Share on other sites More sharing options...
NinjaNick Posted June 12, 2009 Report Share Posted June 12, 2009 Wright-Patt Credit Union. Quote Link to comment Share on other sites More sharing options...
swingset Posted June 13, 2009 Report Share Posted June 13, 2009 Yup, concur a credit union is the only place to go for motorcycle financing. Dealer & manufacturef financing usually sucks, rate & term wise.That said, I'll be captain consumer advocate and say that financing toys is generally a horrendous habit to get into....I know a lot of people do it or rationalize that without financing they couldn't afford the bike they're on, but to that I say if you can't afford to be on a bike without going into high-interest debt, you shouldn't be on it.I don't have the latest greatest, never did never will, but I also never owe anyone a payment, and the price I paid for the bike is the price I paid....not years of interest on top of the loss of value. Quote Link to comment Share on other sites More sharing options...
max power Posted June 13, 2009 Report Share Posted June 13, 2009 I use Telhio. 9% I think. Quote Link to comment Share on other sites More sharing options...
NinjaNick Posted June 13, 2009 Report Share Posted June 13, 2009 WPCU gave me 6%. Quote Link to comment Share on other sites More sharing options...
jporter12 Posted June 13, 2009 Report Share Posted June 13, 2009 I've been contemplating going to one of those high interest places, and getting a SMALL-ish loan for a used bike, since our credit sux ballsacks. We'd get either another Ninja 250 for the wife, or something else for me. Quote Link to comment Share on other sites More sharing options...
Bigbird Posted June 13, 2009 Report Share Posted June 13, 2009 Almost bought a GSXR 600 this week. They said my credit was great...but I didn't have enough for a down payment ...then the dealer sold the bike that day before the bank had even gotten back to them. They said that most of the time they want about HALF for the down payment, but will take 25% under certain circumstances (I'm assuming good credit?). So with a credit union could you do this without the large down payment? Quote Link to comment Share on other sites More sharing options...
Wheezle Posted June 13, 2009 Report Share Posted June 13, 2009 I bought my bike at HNW with no down payment and financed through them at 8 percent Quote Link to comment Share on other sites More sharing options...
NightRider Posted June 13, 2009 Author Report Share Posted June 13, 2009 Almost bought a GSXR 600 this week. They said my credit was great...but I didn't have enough for a down payment ...then the dealer sold the bike that day before the bank had even gotten back to them. They said that most of the time they want about HALF for the down payment, but will take 25% under certain circumstances (I'm assuming good credit?). So with a credit union could you do this without the large down payment?What dealership was this? Half? That's crazy. Justin from cycle search told me, they usually require 10-20% down on their bikes. But will take a 250 deposit to get the financing started. Quote Link to comment Share on other sites More sharing options...
Bigbird Posted June 13, 2009 Report Share Posted June 13, 2009 Well the guy at the dealer (The Cycle Co.) said 25%, the banker said they prefer half, but will take 25%. Quote Link to comment Share on other sites More sharing options...
John Posted June 13, 2009 Report Share Posted June 13, 2009 what i would do, is go to your bank and secure financing there. they should be willing to help you out, as you've been their customer for X years etc etc.once you get financing sorted through the bank, then go find your bike. dont take any shit from the salesman lol. all you are interested in is the out the door price. you dont have to worry about what they say your payments are and you dont have to go through his 4 square thing thats designed to confuse the hell out of you. Quote Link to comment Share on other sites More sharing options...
35RFTW Posted June 19, 2009 Report Share Posted June 19, 2009 I can completely agree with that you will get your best rates at credit unions. However if you have pretty decent credit we can obtain as low as 7.15% APR. All depends on your credit. We will not write any loans higher than 21% or more than 60 months in efforts of keeping people out of the red on their bike as much as possible. If anyone has financing questions, feel free to call in to the shop and speak to Jason our finance guy. Quote Link to comment Share on other sites More sharing options...
nochknstrps Posted June 19, 2009 Report Share Posted June 19, 2009 ^^^ 21% thats insane. Not knocking you, its all the buyer to sign on the dotted line at 21%. Fuck I couldn't imagine paying 21% interest on anything. There are guys out there that will just buy at any interest rate just so they can have a bike and those are the guys that are usually trying to sell a early model bike for late model prices. Harley riders were the worst, cause HD will finance anyone. Quote Link to comment Share on other sites More sharing options...
35RFTW Posted June 20, 2009 Report Share Posted June 20, 2009 ^^^ 21% thats insane. Not knocking you, its all the buyer to sign on the dotted line at 21%. Fuck I couldn't imagine paying 21% interest on anything. There are guys out there that will just buy at any interest rate just so they can have a bike and those are the guys that are usually trying to sell a early model bike for late model prices. Harley riders were the worst, cause HD will finance anyone.That is the highest. We go as low as 7.15% too. Some people do not have that great of credit and 21% for them is a steal because they were able to get financed. Better that variable rate GE/HSBC dealer cards. Quote Link to comment Share on other sites More sharing options...
Speed Posted June 20, 2009 Report Share Posted June 20, 2009 21% is flat out usury. Not gonna comment further on that, but if people would tell lenders who offer such asinine terms to go fuck themselves it would become rare.Check to see if you can join a city school credit union. One I belong to is offering 3.5% right now. Quote Link to comment Share on other sites More sharing options...
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