to the fourm and bike world. Now lets get down to reality. Your young. You have no credit. You will get raped on interest rates. And INSURANCE. I suggest you get a couple of insurance quotes on the shiney new ride you want to finance. You will have to carry full coverage on that bike. Expect that to cost you ALOT of money.
I would follow onesickpsycho's advice and save a few bucks and buy used. No monthly payments, no interest, and no full coverage.
A quick back-of-the-envelope calculation comesup with this:
Let's say you pick and SV650 or 650 Ninja: Out-the-door with tax, tags, set-up and minimal gear...Helmet, boots gloves...
22% interest. (The base rate is prolly in the 12-14% range, the dealership tacks on another 6-8% for additional profit to the dealer, 'cause you don't care, you are soooo GRATEFUL you got financed.)
Because you are the age you are, your full coverage insurance will be in the $1200-$3200/yr range ($100-275/mo), depending on locale and driving record.
Sooo, on a new mid-sized bike, your monthly nut will be in the $300-450/ month range, depending on how bad the dealership and the insurance company throw you under the bus. Over the life of the loan, you're going to pay in the neighborhood of $5000 in interest on that $7400, and that full coverage insurance will run you between $6000 and $16000!!!!!!!!(now you know why insurance companies are such good investments) during the life of that loan.
Just thought you should know.