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what is the best company to go with for financing? or should i just use the dealerships financing? i'm planning on buying a bike soon and i want to jump on one of the 07 closeout prices.
 

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what make is the bike you're planning on going with? honda financing is handling a very small portion of the original price that i didn't want to put cash down for. they are a great company...very helpful customer service reps
 

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Haha hey that's a good attitude to have when learning...responsible...good.

I'm not too sure then. Unless you know the shop owner personally and know he will tell you the truth about financing (and not try to just get you to sign up for some bs)...I'd keep looking around. Most often, the shop knows best.
 

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If you go through the dealer, which I would advise against, do not fall for one of the $89.00 a month specials. Believe me, it not a special at all. I would recommend going through your bank or credit union. The dealerships will offer a slightly lower rate, but the rate will usually adjust after 24 or 36 months to some ungodly high rate like 23%. This is because the financing comes via a Honda\Suzuki\Yamaha Credit Card. Just remember, dealerships are out to make money, they do not care about your credit. I would get pre-approved and then go in there and negotiate a cash price. You can usually save $$$.

Good luck, and good choice for a first bike.

Jon
 

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The financing deal the dealerships will offer is done by Household retail, who finance.. well just about anything.

Its not a bad deal, if you can handle large payments, and can guarantee that you will never ever be late on it. You get a low rate, and 2 years to pay it off in. However if you have to take longer than that to pay it off, or god forbit if you are late on a payment, your interest will jump to an absurd 18% or something like it. If you find yourself in a bind and cannot make the payment you need to, make the minumum on time. Also, dont be fooled by the less than $100/mo payment crap. Pay it off quickly. Bikes tend to get wrecked and totalled pretty quickly (not just the riders fault, there are cages on the streets too) and no one wants to get stuck paying for a bike they cant ride anymore.

If you are scared off by all they ways they can screw you, go with you local bank or credit union. It will cost you a touch more in interest, but you have a better safety net.

Also, do not put gear/parts on your dealership credit card. While bikes get a great interest rate, everything else does not.
 
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