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Well I'm set on a Ninja 500r. I will be getting a bike hopefully in the up and coming months. I have to sell my car and take the MSF course. I will have about $8,000 after all that.

It seems like I can get the 500r for $5,000 ish out the door? A dealer around here has it for $4,500 before all the fun stuff.The reason I'm considering new is because even used 500r's are only $4-4,500. Doesn't seem like I will be saving very much. Now I know I will drop the bike, that is inevitable. Should I maybe wait for the 06's to come out?

My question is whether I should buy new or not? New seems to be the best way, which brings me to my next point. Should I finance it? I'm 18 and have no credit and should start building some. Should I build it this way? Maybe put half down and pay the rest off in the year? I'm new to all of this and have no idea how it all works.
 

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I would say buy used ur first time but if your really only going to save $500 then you'd be better off going new ... just to avoid any unseen hassles.
As for waiting for the '06 to come out ..... if your not getting a bike till the time when thier about to come out then why not. If the '06 comes out and the dealer has a left over '05 you might be able to get a better deal on the '05.
You say your going to have $8000 for everthing .... have you taking in to account the cost of gear??? And of course the biggie .... insurance. At 18 it's gonna be high no matter where you are. So you might wanna check into that first.

Now financing ..... that's totally up to you. Even if you put 1/2 down and finance the rest over the life of the loan you'll only end up paying a few hundred in interest (depending on your interest rate). And it's a good way to start a credit rating.
 

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Discussion Starter #3
Yeah, I need to start my credit sometime. I will have $8,000 ish as my total savings. So I'll have about 6-7k to spend. Of course I'll be working and everything too. When do the new models come out? I also thought about waiting for the 06's, then trying to get a 05 for cheap. I am set on a blue on also, but they don't make those every year?
 

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I would finance some of it. Maybe a 1K so you can use it to pay insurance. At 18, you really need to establish credit. Make sure you don't have any late payments, or it will kill your score.
 

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Wishing you the best Chris & let us know the final outcome. What you have in mind is a darn good bike for a newbie.

Take good care of it & the bike will be in demand when you decide to upgrade.
 

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The way you describe the financials, there does not seem to be a benefit to buying new. I'd keep in mind, however, that you would have better luck having the price reduced with an individual than the dealer. If I understand correctly, the smaller, cheaper bikes don't have much of a margin for the dealers, therefore less room for haggle. Also, dealers are very skillful at adding fees and extras to the new vehicles. I watched my friend complete the transaction for a brand new Vulcan 800, and I was horrified to hear of the VIP Card for which he dropped an extra $1K.

Another downfall to owning a brand new vehicle is the expectation of perfection. Any little thing that sounds odd while riding will keep bugging you: "Is something wrong with the bike? Do I need to go to the dealer and check it out? This thing is BRAND NEW, it shouldn't be doing that!" This one will depend on the individual, but I do know a guy who sold his Honda VLX less than a year into a brand new purchase because "he kept having problems with the Honda", meaning both the bike and the dealership. I don't know ALL of his details, but I recon that he had a hard time affording it to begin with, and not having a PERFECT experience was too much for him to handle.
 

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I decided to finance an 05 EX500 myself. First NEW vehicle I've ever owned. I don't need it to build up credit or anything, but I'm in a weird position to start with.

I needed to drop the seat height 4" to get it to a comfortable ride height. The dealership is installing the ride height adjusters, lowering the bike 2" out of an available 4, and woodcraft clip ons for me. I also ordered a custom corbin seat that's 2" lower than stock and as narrow as they can make it.

I figure I won't be going through all this trouble again until I'm really confident in my abilities, so I bought a new one. Sure, I'll probably drop it, but hey, someone's gotta scratch it up the first time and it may as well be me. Just gives me an excuse to fab up some custom stuff and paint it ;)

If you want to go new, go new, just know that you may hurt it and that it's a mechanical object, things will happen to it. If you have the money, pay off a chunk of it, then pay the rest off within a year. That'll keep interest to a minimum and show you can make the payments.
 
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