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Discussion Starter · #1 ·
im really wanting a bike bad, ive ridden quite a bit but dont have one of my own. I have NO credit(im only 20 and just started usin a credit card a few months ago) but i have 3k cash i could put down. Im wondering just how much down payment it would take to get a dealer to finance me on a new 05 cbr600rr or if it would even be possible.
Thanks alot, Jeremy
 

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Lickalotapuss
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I'm always amazed at who they will give credit to (no offense, but with no credit history...). but that is a lot down. Go to a dealer and check it out. What you will probably find is they may hook you up, but at a high interest rate.
 

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Discussion Starter · #4 ·
thanks for the replies. im not completely stupid with money but i dont really care about the rate, unless its way high like 25% or some bs since ill be payin for it pretty quickly. all ive done is apply for the card on honda.com and got rejected. i thought it was wierd though how they asked how much id pay down but didnt ask what bike i was gettn financing for. anyway, any comment would be very appreciated.
Thanks alot,
Jeremy
 

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Official SBN Party Pooper
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Aloha and Welcome to SBN :twofinger

If you can put at least half down the chances of getting approved are almost guranteed.

Remember, that 3k you're also going to need to get some good gear before you go out and ride. Also get the saftey course in.

I'd also recommend something smaller to start as well

Enjoy the site!
 

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Autobots! Roll Out!
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I bet with another thousand or so saved, you'll get financed. Probably not a good rate, but you'll be riding. You can always throw the gear in on the loan, but that's probably a bad idea.

Also, a dealer is more likely to come off the price more if you finance through them. Dealers get incentives to finance people.
 

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how bout u just save 2 more Gs and buy a used 03 04....

BTW, does Texas have a cold winter season? if so isnt it slightly late in the season to get a bike to put into storage THEN still have to be putting payments on it.
 

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Discussion Starter · #8 ·
thanks alot. so maybe about half i might get financed. sounds good
Thanks again, anymore comments are welcome
Jeremy
 

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don't forget to check insurance. You're 20 and insurance is going to rape you on a 600SS bike. If you must go with a 600 go with an older one that is considered "Sport Touring". You can easily buy one of those straight out.
 

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I was what they call a 'ghost' when I financed my RC. I always used cash to buy bikes and cars before and had been using credit cards and keeping no balance for several years so had practically nothing for history. Honda financed me for 6.9%.
 

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Hell yeah texas has a riding season. all frigin year. but to get to the question. If you have 3G's grab yourself a cycle trader and get a used f4 or f3 and dont worry about payments. but if your worrried about high insurance costs grab yourself a triumph their great bikes and you can insure them fairly reasonably compaired to the jap bikes. I'm 21 and my dealer financed me a speed triple with only 1000 down but that was the second bike I have bought from that guy. whatever happens kepp the shiney side up or dont bother polishing it
 

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what R you lookin' at?
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FIRST BIKE

buy small (500cc or less) buy cash (liability ins. needed only, and at 20 all you can afford) buy used......cuz most likely your gonna crash.

and before you get a bike, get gear.......and take the www.msf-usa.org class, about $180 in TX
 

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talk to whatever bank you've been using for awhile if you end up buying new. most have deals where you can set aside a certain amount for a loan. get a lein-type loan on a used bike from them, but instead of putting some down, put the whole amount down.

that way you have a bike, you've started to boost you rating a little, and ur riding.

$.02
 

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I would spend 500-1000 on your gear and the other 2000 plus maybe a bit more on something small cheap and used and when you are ready to upgrade to something shiny you wont have to spend dough on gear

recommended IMO:
1 textile Jkt
1 leather Jkt
1 leather pant (if planning on riding track at all)
1 Helmet for you
1 Helmet for chickies
2 Boot (one for each foot)
3 Glove (2 textile or leather with armor, one rubber for the chickie)

Than later on a spare set of gloves and boots is nice to have
 

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You probably won't get financed. I went into a suzuki dealer one day to kill time and the guy insisted on running my shit to see how much I could get financed for, it was only 3500. That's with a bike to trade in and 1000 down. Get something smaller and cheaper, otherwise you'll be paying out your ass in repairs to a brand new bike.
 

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Your best bet will be to get a cosigner and you may have to get financed through your bank or credit union. Their credit policies usually arent as tight as factory financing. The rates are usually better too. The factory may advertise low rates but they usually only last 6 months to a year then they jump up to sometimes 20% or higher. So generally you come out paying less over the life of the loan if u finance through your bank or credit union.
 

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Discussion Starter · #17 ·
wow i never expected so many replies THANKS. Co sig is not an option, ive taken the course, and im workin on the gear.used is definately an option but its the same story i dont knwo how to go about doin it. I know id have to get a loan from the bank cuz id be lookin at probably a 3K loan and i dont know who the hell would do that without an act of God. Sorry for all the questions
Jeremy
 

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iWannaRide said:
wow i never expected so many replies THANKS. Co sig is not an option, ive taken the course, and im workin on the gear.used is definately an option but its the same story i dont knwo how to go about doin it. I know id have to get a loan from the bank cuz id be lookin at probably a 3K loan and i dont know who the hell would do that without an act of God. Sorry for all the questions
Jeremy

If you use the bike as collateral? Say 6 grand bike as collateral on a 3k loan with capacity to repay, they will probably give it to you.

Of course, you would have to get comprehensive on the bike, which as others have said, will totally rape you at our age.
 
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