Trading in my cruiser for a supersport! - Sportbikes.net
 

Home Message Board SBN Chat SBN Articles Bike Specs Register Classifieds Forum Rules Advertise Contact Us

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.
Go Back   Sportbikes.net > Topic Discussions > General Sportbikes
Register Subscribe Casino Garage FAQ Members List Calendar Arcade Insurance Search Today's Posts Mark Forums Read Motorcycle Escrow


General Sportbikes This area is for sport bike discussion in general. Topics that don't really belong anywhere else can go here. Questions can be answered and addressed to fully understand certain aspects of the sport. If your question is manufacturer specific please post it there.
Sponsored by: TCX Boots

» Insurance


» Site Sponsors
Reply
 
LinkBack Thread Tools Display Modes
Old 11-26-2012, 04:26 PM   #1 (permalink)
akiraruns
Supersport Racer
 
akiraruns's Avatar
 

Join Date: Oct 2012
Location: SoCal
Age: 26
Posts: 157
Gameroom cash: $1492
Sportbike: 2013 GSXR 750
Thanks: 70
Thanked 14 Times in 14 Posts
akiraruns is on a distinguished road
Default Trading in my cruiser for a supersport!

My 2011 Yamaha Stryker has treated me well for about a year now but I've come to realize that the handling on my '07 GSXR is much more suitable for my taste. I've also owned an '07 R6S for a few months, had to sell for the cash, but loved it! Maybe I just grew out of the cruising fun. And technically, the gixxer is my brother's (he moved out of town) so I decided to get my own brand new sport bike!

Has anyone ever traded in a bike that you still had the loan on, for another one and aquired the balance into the new loan?

How did it go?

I still owe 10K+ and the value is probably about 8K+. I have good credit. The sales guy told me just wait until January which would be a complete year since I bought the cruiser so that it won't hurt my credit for switching too early.

I'm thinking of selling my Jeep which would get me about 3-4K cash to put towards the loan before I switch OR use for down payment. Which is better?

Anyone who have gone through this or have some knowledge in this?
__________________
RIDING IS FREEDOM inked on my arm.
akiraruns is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 11-26-2012, 05:26 PM   #2 (permalink)
harleyxlc
Lickalotapuss
 
harleyxlc's Avatar
 

Join Date: Jul 2005
Location: Over here
Posts: 2,847
Gameroom cash: $66087
Sportbike: Yes
Thanks: 1
Thanked 26 Times in 20 Posts
harleyxlc is on a distinguished road
Default

I don't think waiting a year is necessary, it will ding your credit the same either way...if you find a dealer that will do it.

Have you thought about selling the bike privately to get more money for it?
__________________
The Predator is a meanie weanie
harleyxlc is online now   Reply With Quote
The Following User Says Thank You to harleyxlc For This Useful Post:
akiraruns (11-27-2012)
Old 11-26-2012, 05:35 PM   #3 (permalink)
Gofer
Superbike Racer
 
Gofer's Avatar
 

Join Date: Feb 2011
Location: Greensboro NC
Age: 45
Posts: 245
Gameroom cash: $2060
Sportbike: 09 ZX6R X 2, DRZ400, CRF230M
Thanks: 47
Thanked 43 Times in 29 Posts
Gofer is on a distinguished road
Default

Most likely you are going to have to eat the difference and you will just owe more on the new bike. If your making payments I would just carry the loan and keep the cash because chances are you wont have the bike for the length of the loan. It sucks I did the same thing and ended upside down on my 09 zx6. The positive is you will have a ride that you enjoy not something sitting around that rarely ever gets ridden. Call it a good or bad thing but when I totaled the zx6 the insurance payed out a crazy amount and I had gap insurance to cover the rest.
__________________
If you think you can or can't do it then your probably right!
Gofer is offline   Reply With Quote
The Following User Says Thank You to Gofer For This Useful Post:
akiraruns (11-27-2012)
Old 11-26-2012, 06:22 PM   #4 (permalink)
akiraruns
Supersport Racer
 
akiraruns's Avatar
 

Join Date: Oct 2012
Location: SoCal
Age: 26
Posts: 157
Gameroom cash: $1492
Sportbike: 2013 GSXR 750
Thanks: 70
Thanked 14 Times in 14 Posts
akiraruns is on a distinguished road
Default

Quote:
Originally Posted by harleyxlc View Post
I don't think waiting a year is necessary, it will ding your credit the same either way...if you find a dealer that will do it.

Have you thought about selling the bike privately to get more money for it?
I have, that would be best but how will it work since I don't have the pink..?
__________________
RIDING IS FREEDOM inked on my arm.
akiraruns is offline   Reply With Quote
Old 11-26-2012, 06:29 PM   #5 (permalink)
akiraruns
Supersport Racer
 
akiraruns's Avatar
 

Join Date: Oct 2012
Location: SoCal
Age: 26
Posts: 157
Gameroom cash: $1492
Sportbike: 2013 GSXR 750
Thanks: 70
Thanked 14 Times in 14 Posts
akiraruns is on a distinguished road
Default

Quote:
Originally Posted by Gofer View Post
Most likely you are going to have to eat the difference and you will just owe more on the new bike. If your making payments I would just carry the loan and keep the cash because chances are you wont have the bike for the length of the loan. It sucks I did the same thing and ended upside down on my 09 zx6. The positive is you will have a ride that you enjoy not something sitting around that rarely ever gets ridden. Call it a good or bad thing but when I totaled the zx6 the insurance payed out a crazy amount and I had gap insurance to cover the rest.
Not sure what you mean by "carry the loan and keep the cash"?
But man you're so right about having a bike that I enjoy rather than sit around because I stay on the gixxer for the most part now...
How much did the Gap insurance cover? I was hearing that they try to fight you on how much they pay out so it's not all that worth it.... and the insurance only cover the value of the bike, correct?
__________________
RIDING IS FREEDOM inked on my arm.
akiraruns is offline   Reply With Quote
Old 11-26-2012, 06:47 PM   #6 (permalink)
Gofer
Superbike Racer
 
Gofer's Avatar
 

Join Date: Feb 2011
Location: Greensboro NC
Age: 45
Posts: 245
Gameroom cash: $2060
Sportbike: 09 ZX6R X 2, DRZ400, CRF230M
Thanks: 47
Thanked 43 Times in 29 Posts
Gofer is on a distinguished road
Default

Quote:
Originally Posted by akiraruns View Post
Not sure what you mean by "carry the loan and keep the cash"?
But man you're so right about having a bike that I enjoy rather than sit around because I stay on the gixxer for the most part now...
How much did the Gap insurance cover? I was hearing that they try to fight you on how much they pay out so it's not all that worth it.... and the insurance only cover the value of the bike, correct?
I meant carry the difference from what you owe to what you get on the trade in plus the cost of the new motorcycle. So your new loan will probably be a good deal more than the purchase price of the new ride. Your payment will be higher but like I said chances are you won't keep it for the life of the loan. So if this bike is a keeper for all time then use that jeep money and knock it down. Your in a crappy situation without any easy way out except to pay up. Next time buy something used and let somene else take the hit when they drive a new bike out the shop door. Maybe someone else has a better solution, I wish I did.
__________________
If you think you can or can't do it then your probably right!
Gofer is offline   Reply With Quote
The Following User Says Thank You to Gofer For This Useful Post:
akiraruns (11-27-2012)
Old 11-26-2012, 07:48 PM   #7 (permalink)
Fuzzystump
Umbrella Girl
 

Join Date: Jun 2012
Location: FL
Age: 32
Posts: 57
Gameroom cash: $3200
Sportbike: 2012/Kawasaki/Z1000
Thanks: 8
Thanked 12 Times in 5 Posts
Fuzzystump is on a distinguished road
Default

Well, I too had a 2011 Stryker. Instead of going for SS I went for a Z1000 though. I sold my Stryker for $8k back in July. I guess I'm saying I understand your wanting to switch...I loved my Styker but I think I had it for no more than two months and about 1200 miles.

Like someone above said, you aren't in a great spot to be switching bikes since you're upside down on the Stryker loan. Honestly, I don't know if you can even sell it private party unless you can pay the difference between the sale price and the lien. If you goto a dealer and try to trade in the Stryker on a SS you will be RAKED over the coals. When I was trying to make the switch I was typically offered no more than 6.5k for the Stryker (and I tried alot of dealerships) and to add insult to injury they then want you to pay MSRP on a new bike.

I think your best bet is to sell the Jeep and then sell the Stryker (private party) and you'll have the money in hand to pay off the remainder of the loan (above whatever you sell it for) and will be able to hit a dealership with a "fresh slate".
Fuzzystump is offline   Reply With Quote
The Following 2 Users Say Thank You to Fuzzystump For This Useful Post:
akiraruns (11-27-2012), drummer92 (11-27-2012)
Old 11-26-2012, 10:09 PM   #8 (permalink)
USAFgsxr750again
500 GP Racer
 

Join Date: Mar 2012
Location: Box Elder, SD WOOOOOOT!!
Posts: 801
Gameroom cash: $6529
Sportbike: 2012 ZX14R
Thanks: 89
Thanked 116 Times in 90 Posts
USAFgsxr750again is on a distinguished road
Default

Quote:
Originally Posted by fuzzystump View Post
well, i too had a 2011 stryker. Instead of going for ss i went for a z1000 though. I sold my stryker for $8k back in july. I guess i'm saying i understand your wanting to switch...i loved my styker but i think i had it for no more than two months and about 1200 miles.

Like someone above said, you aren't in a great spot to be switching bikes since you're upside down on the stryker loan. Honestly, i don't know if you can even sell it private party unless you can pay the difference between the sale price and the lien. If you goto a dealer and try to trade in the stryker on a ss you will be raked over the coals. When i was trying to make the switch i was typically offered no more than 6.5k for the stryker (and i tried alot of dealerships) and to add insult to injury they then want you to pay msrp on a new bike.

I think your best bet is to sell the jeep and then sell the stryker (private party) and you'll have the money in hand to pay off the remainder of the loan (above whatever you sell it for) and will be able to hit a dealership with a "fresh slate".
+1,000
__________________
If you're gonna go, go with a smile!!
2012 ZX-14R in Blaze Green.
USAFgsxr750again is offline   Reply With Quote
Old 11-27-2012, 08:20 AM   #9 (permalink)
Süsser Tod
Mexican Hard Shell Taco
 
Süsser Tod's Avatar
 

Join Date: Jun 2004
Location: Mexico, Mexico City
Age: 35
Posts: 5,649
Gameroom cash: $37119
Sportbike: GSX-R 600 - Versys 650 - XJR1300
Thanks: 162
Thanked 976 Times in 578 Posts
Süsser Tod will become famous soon enoughSüsser Tod will become famous soon enough
Default

Buying the Striker new was a mistake, new bikes are only worth it when you're sure you'll have them for a long time, otherwise you end up losing a bunch of money, as you already figured out.

Suck it up and pay it, it's not like you were out of a ride. Once the Striker is paid for, go for the next bike...

Otherwise you'll be the guy with the $18,000 GSX-R 750, and you'll be upside down on that loan for... Most of it.
__________________
Go soothingly on the greasy mud, for therein lies the skid demon.
Süsser Tod is offline   Reply With Quote
The Following User Says Thank You to Süsser Tod For This Useful Post:
akiraruns (11-27-2012)
Old 11-27-2012, 09:13 AM   #10 (permalink)
kevinwilly
Habitual line-stepper
SBN Contributor
 
kevinwilly's Avatar
 

Join Date: Jun 2005
Location: Raleigh, NC
Age: 30
Posts: 11,599
Gameroom cash: $117785
Sportbike: none :(
Thanks: 0
Thanked 1,265 Times in 643 Posts
kevinwilly will become famous soon enoughkevinwilly will become famous soon enough
Default

Ending up upside-down on one loan only to turn around and be even MORE upside-down on another loan is just asking for trouble.

That's how you fuck yourself over. Either keep your current bike and learn to enjoy it, or sell it off and get out of debt and then buy a used GSXR when you can afford it.

Financing a new sportbike is silly. You get LITERALLY nothing extra from a new bike that an 06 or newer doesn't offer except the electronics that let you pick how much power you want. Useless, honestly.

There's absolutely NO reason to buy a brand new sportbike unless all you care about is image, you just have gobs of cash, or you are actually racing it competitively. (Unless you are actually getting one of the VERY few bikes on the market where the new one actually comes with significant upgrades over the old version).
__________________
Moderator of Rider's Gear and Help me Fix it.

PM me if you have questions, concerns, or beer you need to give away.
kevinwilly is offline   Reply With Quote
The Following 2 Users Say Thank You to kevinwilly For This Useful Post:
akiraruns (11-27-2012), Twinsfan23 (11-27-2012)
Old 11-27-2012, 09:30 AM   #11 (permalink)
Süsser Tod
Mexican Hard Shell Taco
 
Süsser Tod's Avatar
 

Join Date: Jun 2004
Location: Mexico, Mexico City
Age: 35
Posts: 5,649
Gameroom cash: $37119
Sportbike: GSX-R 600 - Versys 650 - XJR1300
Thanks: 162
Thanked 976 Times in 578 Posts
Süsser Tod will become famous soon enoughSüsser Tod will become famous soon enough
Default

You get peace of mind, some people can't put a price tag on that. I have no problem buying used bikes, that I will kind of tear down just to make sure they are fine, but people that can't even change the oil won't be up for that.
__________________
Go soothingly on the greasy mud, for therein lies the skid demon.
Süsser Tod is offline   Reply With Quote
The Following User Says Thank You to Süsser Tod For This Useful Post:
akiraruns (11-27-2012)
Old 11-27-2012, 09:41 AM   #12 (permalink)
I-Jo
Moderator
 
I-Jo's Avatar
 

Join Date: Jun 2009
Location: New Jersey
Posts: 12,523
Gameroom cash: $122269
Sportbike: 2004 Honda CBR F4i
Thanks: 3,138
Thanked 2,155 Times in 1,231 Posts
I-Jo will become famous soon enoughI-Jo will become famous soon enough
Default

Yeah but this peace of mind is going to cost him his financial situation. Being THAT upside down is seriously s mistake in this day and age.


Take care if the Stryker first and then get the GSXR.
__________________
I work hard and I play hard.

I'm just like everyone else... only different... and if you don't like it- you can suck it.
I-Jo is offline   Reply With Quote
The Following User Says Thank You to I-Jo For This Useful Post:
akiraruns (11-27-2012)
Old 11-27-2012, 10:18 AM   #13 (permalink)
kevinwilly
Habitual line-stepper
SBN Contributor
 
kevinwilly's Avatar
 

Join Date: Jun 2005
Location: Raleigh, NC
Age: 30
Posts: 11,599
Gameroom cash: $117785
Sportbike: none :(
Thanks: 0
Thanked 1,265 Times in 643 Posts
kevinwilly will become famous soon enoughkevinwilly will become famous soon enough
Default

Quote:
Originally Posted by Süsser Tod View Post
You get peace of mind, some people can't put a price tag on that. I have no problem buying used bikes, that I will kind of tear down just to make sure they are fine, but people that can't even change the oil won't be up for that.
Sure- you get peace of mind. But with motorcycles it's SO easy to find ones that are SUPER low mileage and a few years old that have barely been ridden.

I mean- I've got a 10 year old bike with 6500 miles on it. It's practically brand new. And since I bought it, I've seen several others that are around the same mileage.

You have to watch out for bikes being stunted or dropped, and might have to replace a couple seals here and there.... but even if you don't want to do that, just buying a 2-3 year old bike will save you 5 grand or more. Goes a LONG way toward a shop checking it out for you.
__________________
Moderator of Rider's Gear and Help me Fix it.

PM me if you have questions, concerns, or beer you need to give away.
kevinwilly is offline   Reply With Quote
Old 11-27-2012, 10:24 AM   #14 (permalink)
F4sSprintST
World 500 GP Champion
 
F4sSprintST's Avatar
 

Join Date: Oct 2007
Location: Knoxville, TN
Posts: 14,818
Gameroom cash: $85460
Sportbike: 2009 Buell 1125R
Thanks: 2,711
Thanked 4,202 Times in 2,298 Posts
F4sSprintST has a little shameless behaviour in the past
Default

Quote:
Originally Posted by kevinwilly View Post
You get LITERALLY nothing extra from a new bike that an 06 or newer doesn't offer except the electronics that let you pick how much power you want.
  1. Warranty
  2. You don't inherit other's problem's
  3. No broken tabs on the plastics
  4. subsidized financing


Still, I agree that it's better to find a good used one
F4sSprintST is offline   Reply With Quote
Old 11-27-2012, 10:51 AM   #15 (permalink)
akiraruns
Supersport Racer
 
akiraruns's Avatar
 

Join Date: Oct 2012
Location: SoCal
Age: 26
Posts: 157
Gameroom cash: $1492
Sportbike: 2013 GSXR 750
Thanks: 70
Thanked 14 Times in 14 Posts
akiraruns is on a distinguished road
Default

You all have great points and I appreciate it.

Just to clarify, I'm not going for a GSXR but the 750 is my 2nd choice after the Daytona 675.

IF I can sell privately for a decent price, I'm going for it.

Some of you make a great point about getting a used bike instead but I don't got the cash. I do save money little by little but what can I say.. I'm an impatient mofo. If I can start fresh on a new bike with a good interest rate, why not. I will be hitting up the track and I will learn to ride pro.

Which brings me to maybe a different option, not sure it's a good one, but I'm new on the track and I heard the best way to start is on a 250. will it be wise for me to turn the Jeep cash into a 250 instead, keep paying the Stryker, and just suffer the power loss for everyday riding? I mean can I even ride on the freeway with those things?
__________________
RIDING IS FREEDOM inked on my arm.
akiraruns is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading down to a 600... Iceman_954rr General Sportbikes 74 10-20-2006 11:09 PM
Anyone ever consider trading for a cruiser? QuickF4i General Sportbikes 18 04-03-2003 01:42 PM
trading a 929 for rc faster Honda Sportbikes 9 07-16-2002 07:46 PM


All times are GMT -5. The time now is 07:02 PM.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.0.0
© 1997 - 2007 Sportbikes.net INC. All Rights Reserved.
Motorcycle News, Videos and Reviews
Honda Grom Forum Harley Davidson Honda 600RR Kawasaki Forum Yamaha R6
1199 Panigale Roadglide Forum Honda CBR1000 Vulcan Forum Yamaha R1
Ducati Monster Harley Forums Honda CBR250R ZX10R Forum Star Raider
Suzuki GSXR V-Rod Forums Honda Shadow Kawasaki Motorcycles Star Warrior
SV650 Forum BMW S1000RR Honda Fury Kawasaki Versys Drag Racing
Suzuki V-Strom BMW K1600 Triumph Forum Victory Forums Sportbikes
Volusia Forum BMW F800 Triumph 675 MV Agusta Forum Streetfighters