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yeah,yeah, i know of course this is the beginners corner but i have a question on down payments on a bike how much do u usually put down on a bike? and is it hard to get one? because i couldnt even get approved for a car at the dealership..Thanks if u can break this down for me on what to expect..
 

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My experience tells me that both types of finance works similarly. If you don't qualify for a loan in the car dealer, it's unlikely you would qualify for one in a motorcycle dealership either. BUt then I live in the Bay Area of California where dealers can demand whatever they want... I think it really varies depending on the dealer.

I also think that motorcycle is more of an luxury item due to the high cost for gears, maintainence, and added insurance cost. You may want to think about getting a reliable car as your main transportation before thinking about buying a bike. Let me know if you want a pretty realistic run down of the cost of owning a motorcycle... I thought it would make sense to get a bike to commute in the beginning :bash:
 

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Samurai_Jack said:
Let me know if you want a pretty realistic run down of the cost of owning a motorcycle... I thought it would make sense to get a bike to commute in the beginning :bash:
Yeah sure would u let me know, i mean i already have reliable car..i just would like to know how it works..thanks
 

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To finance a bike, without stellar credit, you will need minimum 10% down. 20% will get them to stop laughing, and 30% will get them to read and process your application. If you can put 60% or more down with proof of employment and residence, insurance and valid license, you usually get approved. Good luck buying that '05 GSXR... :thumbs:
 

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bumblebee said:
To finance a bike, without stellar credit, you will need minimum 10% down. 20% will get them to stop laughing, and 30% will get them to read and process your application. If you can put 60% or more down with proof of employment and residence, insurance and valid license, you usually get approved. Good luck buying that '05 GSXR... :thumbs:
:lol: :lol: :lol: @ good luck on buying the 05 GXSR

How did you guess it? :skep: :lol:

FYI: your credit must be really Fvcked up if you cant get approved for a car! Geesus. Dont even bother trying to finance a bike!
 

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lavishstylez said:
yeah,yeah, i know of course this is the beginners corner but i have a question on down payments on a bike how much do u usually put down on a bike? and is it hard to get one? because i couldnt even get approved for a car at the dealership..Thanks if u can break this down for me on what to expect..
Welp, I would recommend you get a reliable cage (car) first :2cents: , then pursue the bike. But from what I can gather, you will need probably some cash down, maybe 10-20%. This may get them to take you seriously, next you may want try a different dealer, or just ask them up front, what is needed for approval. I haven't bought a bike yet, but I have been doing research, and from what I can tell, if your credit is not strong, but if you have a decent job making decent money, this can only help your chances. Also, you can play it like buying a car, go to the dealership during the end of the month, with car dealers, all the lil sales peeps that are short on their quota will jump through hoops to get the deal done, you may get screwed on the APR, but if you build up your credit, you could look into a refi down the road. :luck:

:twfrox:
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Disclaimer: This free advice is just that, free advice. This should not be considered financial or legal advise. If you need financial advise, consult a licensed financial advisor. If you need legal advice, consult an attorney.
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Disclaimer: This free advice is just that, free advice. This should not be considered financial or legal advise. If you need financial advise, consult a licensed financial advisor. If you need legal advice, consult an attorney.





Otherwise, consult a phone book or someone who cares... :lol:
 

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i only got approved for 5000 from kawasaki credit. and i have good credit but i was only 19 at the time. so the only option is to get a co-signer with good credit and ur good. and as far as down payment i put 0 down. lol
 

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Try to cash out if you can. I do not know where you are located but here in MI, the typical riding season is 6-7 months (April-October). It's even less when you factor in the rain season. I can't justify making payments on something I can't ride all year round.
 

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Lavish... first off... :welcome:

If you can't get a car on your own, you will never get a bike. The difference is that a bike is considered a recreational vechicle, so the banks treat them differently.

Co-signer and 20% down would be a huge help to your situation...

Don't forget to post up and keep us up-to-date!
 

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Food for thought...

I would suggest looking at buying a good P/U since he said he has a good reliable car, then when he gets the bike, if he ever needed to haul the bike, he would have that covered as well ! Might find something a little cheaper, on the finance end, the earlier posts have it covered pretty good !





:pat:
Steve.
 

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Another option is a credit union. I was denied by Suzuki. My credit is was not very good but getting better. I had to deposit $5 dollars(not a typo) in an account to become a member. They approved me and the best part is because I was buying new, I got 4.9% financing. This particular credit union treats bikes the same as cars. Definately worth looking into. Good luck! :cheers:
 

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I went thru my credit union also, 4.70%. Everytime I go in there to take out a loan I'm approved with no problem.
 

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XtremeRacingDiva said:
:lol: :lol: :lol: @ good luck on buying the 05 GXSR

How did you guess it? :skep: :lol:

FYI: your credit must be really Fvcked up if you cant get approved for a car! Geesus. Dont even bother trying to finance a bike!
Hey there is really no need to bash the dude for just asking a question. All I'm saying is that we don't know his credit situation and that bad things do happen to good people, such as a job layoff, unexpected illness, divorce, any of these things could cause someone to take a credit hit. "Can't we all just get along?" :hug: Rodney King

:pat: :twfrox:
 

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I have to agree with the earlier posts...A bike, especially a sportbike, is a luxury item. Motorcycles are an expensive hobby...if you can't afford to put 40 to 60% down on a bike, you can't afford it, and should look for something else
 
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