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post #1 of 4 (permalink) Old 05-13-2002, 03:00 PM Thread Starter
Join Date: May 2002
Posts: 7
I'm new to this

So I went ot the dealer and I saw a R6 2001 with 5,200 miles on it for $6,900. It looked brand new. It was the championchip edition or something.

Well my question is this. If I was to buy this particular bike would the 60 month $148 loan with $735 down be good or am I getting into trouble with a long loan agreement?

I know I could pay more on the payments and the interest rate is 11.9% I think.

I also asked about any type of warranty, and he told me 30 days or 1,000 miles. It was a legit dealer that is very popular around here.

Do you think I could talk him down or what?

Thanks for your patience and time!

midnght is offline  
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post #2 of 4 (permalink) Old 05-14-2002, 03:51 PM
Join Date: May 2002
Posts: 12
This is what i would suggest since am not from around that area. Try snooping around your place and asks for riders that already got a deal from the dealer. Take it from there. Never ever be impulsive in buying a bike. Don't be like me =)
Honda_freak is offline  
post #3 of 4 (permalink) Old 05-14-2002, 05:36 PM
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Join Date: Mar 2001
Location: Castle Rock, CO 80108
Posts: 710
Hmmm. Lets see. 735 + (148*60)= $9615.............for a $6900 bike. Thats roughly an extra 39% you'd be paying in interest. No thanks.

But it would be your bike. If you feel comfortable with that, by all means- do it. Personally, I'd look other places for the money (banks, credit unions, etc...). As far as talking him down goes- if you are going to have to finance it over 60 months, I'd be more concerned with getting a better rate.

Don't try to keep up with my life, you'll only get hurt.

Stake is offline  
post #4 of 4 (permalink) Old 05-15-2002, 11:42 AM Thread Starter
Join Date: May 2002
Posts: 7
OOOh, my bad that 6,900 was the total financed after the 736 down.

BUT, I still get the point. NEVER RUSH INTO ANYTHING!

Thank you for your time. Both of you had good insight to my question.
midnght is offline  
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