[GSXR1000DJ]

When thinking of getting a new bike, what does everyone think of a good down payment for a $10,000 bike?

 

[R1up0n1]

20% or more.

 

[fastbaill2004]

i agree 20% sounds about right.

 

[GixxerNHemi]

I didnt put anything down....just my insurance money.

it all depends on what you plan on doing I guess.

Id rather keep the money in my accounts instead of pulling it out.

I figure I am probably going to trade up within another year...so ill just swap the bikes at the dealer and increase my payment....then if i decide i am going to keep that bike for a long time...then ill pay it off sooner.

just dont see the point of laying down 1-2k or more if im not keeping the bike forever...the promotions are good enough to cover me for a while until i want to trade up or just sell outright.

 

[jeeps84]

10% or more if you can afford it. Other wise you get stuck with negative equity (owe more than its worth) when you sale or trade in less than two years. It might work once. Then your in so deep. You get stuck with the second till you pay some serious cash.

 

[kraeji]

$10,000

not a good idea to finance toys.. that's just my opinion

Just make sure you put enough down that you could sell the bike in an emergency and not have to come up with the cash difference from what you sell the bike for and what you owe to get the title.

 

[Gas Man]

Well its always better to put down a big chunk cause that way if you have to sell it sometime before you pay it off at least you can sell it high enough to pay off that lean.

For example... on my $30K bike...I plan on putting down $10K...

 

[GixxerNHemi]

GM..

when do you plan on getting that thing????

 

[Gas Man]

It should be in around 6 weeks.

They will call the dealer 2 weeks prior to it arriving and then the dealer will call me. Then we order my assecories for it and do the financing.

 

[R1up0n1]

It should be in around 6 weeks.

They will call the dealer 2 weeks prior to it arriving and then the dealer will call me. Then we order my assecories for it and do the financing.

Aren't you getting your own financing?

 

[Gas Man]

I got to do some checking... I stopped by there yesterday and asked what the interest rate would be...so now I know... I have to call my bank and credit union.

 

[R1up0n1]

I got to do some checking... I stopped by there yesterday and asked what the interest rate would be...so now I know... I have to call my bank and credit union.

what was the Int rate?

 

[GSXR1000DJ]

what was the Int rate?

21.99% :lol: Lets hope not.

 

[R1up0n1]

21.99% :lol: Lets hope not.

:yikes:

i'll see what mine are real quick

 

[Gas Man]

6.25% on a 10yr recreational vechicle loan.

 

[GSXR1000DJ]

6.25% on a 10yr recreational vechicle loan.

WOW 10yrs. That will help make the payment lower then normal. :dthumb:

 

[R1up0n1]

6.25% on a 10yr recreational vechicle loan.

my ky cu is 6.00%

my pa cu is 6.25%-6.95%

 

[Gas Man]

Well, not really! Figure this... $30K+ bike. Which is about 2-3 times more than your rocket but payments for only twice as long.

 

[R1up0n1]

Well, not really! Figure this... $30K+ bike. Which is about 2-3 times more than your rocket but payments for only twice as long.

10 years is still a long time to pay on a bike GM. if you are putting down 10k it should bring it down to 20k...which is about the avg someone pay for a car...so take it down to 72 months.:2cents:

 

[GSXR1000DJ]

Right. Same payment but twice as long. Just make it like a truck payment and have it paid in 5yrs. :dthumb: