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Discussion Starter #1
Ok guys help me out. I want to figure out how to finance my bike so that I do not need full coverage on it. Any ideas? I have heard that if you finance 75% or less of the purchase price of the bike, you don't need full coverage for some loans. Is this true? Any ideas guys? I could buy this bike SOON if I could figure out my insurance situation...
 

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Yamaha,Kawasaki,and Suzuki don't make you have Full Coverage if the total ammount financed is under 10,000. Honda however makes you have full coverage if you finance through them.

This is if you finance WITH the manufacturers if you finance with a bank or any other place 99.9% of them will make you get full coverage
 

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I financed my bike through Yamaha, and I was told I did not have to have full coverage, but I do anyways, because I do not want to pay on a bike that is either stolen or totaled.
 

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H8_Rain said:
I was told I did not have to have full coverage, but I do anyways, because I do not want to pay on a bike that is either stolen or totaled.
+1 on that. I live in NJ so full coverage is a must with the sue happy people round here.
 

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Discussion Starter #6
You guys kick ass!!! A reply within 4 minutes :cheers

Well you guys have got me excited, I should have my FZ6 sooner than I thought. There is 1 blue one left too......... Thanks a lot guys!
 

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Get as much insurance protection you can afford. It might be even worth it to wait a while just so that you can have a peace of mind to fully appreciate the ride. :)
 

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Discussion Starter #8
Ok I have one more question for you guys. Yamaha right now has their $49.00/month for 24 months @ 6.9% interest.

I plan on paying around $100-$125/month for a bike payment. I don't understand what happens after the 24 month period is up. Does it become like a credit card and charge interest per month until it is paid off?
 

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unknown_host said:
Ok I have one more question for you guys. Yamaha right now has their $49.00/month for 24 months @ 6.9% interest.

I plan on paying around $100-$125/month for a bike payment. I don't understand what happens after the 24 month period is up. Does it become like a credit card and charge interest per month until it is paid off?
I think it jumps way up to 21% on the remaining balance.
 

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Which is why I'm paying my entire balance off in 24 months. :)

Any other way and they're taking you to the cleaners.
 

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I suggest you get full insurance on the bike. If you don't have health coverage, consider getting it from the insurance company you use for the bike. You never know what can and will happen, peace of mind can make all the difference in the world. :biggrinag

and you guys are correct about the interest rate jump to 21%. If you read the contract carefully you will see it. :bananafu:

Enjoy your ride, congrats on selecting the blue. :locked
 

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Ryce Krysp said:
I suggest you get full insurance on the bike. If you don't have health coverage, consider getting it from the insurance company you use for the bike. You never know what can and will happen, peace of mind can make all the difference in the world. :biggrinag

and you guys are correct about the interest rate jump to 21%. If you read the contract carefully you will see it. :bananafu:

Enjoy your ride, congrats on selecting the blue. :locked

Yeah man, get insurance. If you can't afford the insurance, you can't afford the bike. Do you realize how easy it is to steal a bike??? Many find that wrecking them is also pretty easy. Insure it.
The nice thing about the credit is that you can transfer it to another card after that on a 0% offer.
 

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Dude insurance for this bike is relatively cheap. Mine is only 180 a year through State Farm. Get the insuance becuase you never know when you might lay it down and part can be expensive. Use some of that extra payment money for insurance
 

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Nothing like paying off a loan for a machine thats been stolen or damaged by someone else without insurance.

Use ya head and enjoy your ride stress free, instead of being sick with worry if anything should happen.
 

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Look into getting liability and comp (no collision) since you won't be required to have collision if you do the Yami credit card. It should be significantly less. Collision is where most insurance companies give steep rates on motorcycles. At least this gives you some peace of mind about theft, weather damage, garage collapses on the bike, etc.
 

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I have Suzuki and i dont need any insurance.
 

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Sounds like you need to shop around for insurance, or have reasons it is going to be high. Full coverage on my FZ6 is $26 a month, liability only, would of been $18 a month. But I am 28 year old married homeowner with 3 other vehicles insured through them.
 

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Mark_FZ6 said:
Well I could not afford full coverage as I was qouted $12,000+ a year for full coverage which is more than the bike cost lol. Maybe in a couple of years I will beable to afford full coverage but not likely.

You are being taken for a ride...Unless you have a terroristic driving record, that is way to high. Sounds like you shoping online for your insurance. You should visit a broker in your area, or speak with the dealership that you are planning to get the bike from, they tend to know brokers that will work with you to get the best plan. Also if you havn't done so, take the M.S.F. course, not only will it save you 10%, but you will learn things that you might not have known, or remind you of things you could have easily forgot. :cheers

Don't forget to shop around, which company gave you that price ( :bitchslap ) I would love to know.

and I still stick with the full coverage angle...You would hate to have to pay for something that you drop, or someone steals, trust me :banana .
 

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Mark_FZ6 said:
Well I could not afford full coverage as I was qouted $12,000+ a year for full coverage which is more than the bike cost lol. Maybe in a couple of years I will beable to afford full coverage but not likely.
$12K for insurance!!!! That's insane!!!

I think I'm paying something like $680 for full coverage thru State farm in NJ, which is the worst state for auto insurance.
Now if you said something like $1200 that would be more realalistic for your area. There was one insurance place in NJ that clasified the FZ6 as a super sport and wanted near $1500 or so for he year.
 
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