The $1800 gs is now sold.....OP, did you take our advice and you snatched it???
Financing?
- Thread starter JordanTW
- Start date
eoszlak
Well-known member
Save money?
OP - I passed a sign that said $300 for 20 bucks at Cashstop, no credit, bad credit, your moms credit. They take it all. YOLO BRAH.
Don't bother buying anything else except a litre bike. Bunch of haters on this board.
LMAO. Finally the truth! HATERS GUNNA HATE! F*c|< the constructive advice that 99.9% of us have here! I agree with those 99.9% and have f # c |< ed credit too.. maybe that's I've never even seriously looked at buying a bike from a dealer. If I don't have the cash in hand to buy it I don't even think about it.
We're tearing the poor OP a new @$$h0le!
Poor guy will never ask for advice or any question for that matter ever again.. 23 Posts; and only one directly answering and addressing his intial question. Again don't get me wrong I'm part of the 99.9% oppose to financing, especially in OP's situation but I do get where he's coming from.
Not sure if it apply's but like they say you can a horse to the well, you can't make em drink.
If the OP has his heart set on financing he might be a lost cause boys.
Different situation, but same theory- I'm a prime example riding my honda C70. God Damn Insurance!
Some things you gotta realize and see for yourself gentlemen.
Here is a decent CBR125 in Etobicoke for $1800:
http://wwwb.autotrader.ca/a/Honda/C...=motorcycles_atvs&showcpo=ShowCPO&orup=2_15_2
Ride that for a season or 2 (or 3) and move onto a Ninja 300, Yamaha R3, CBR500 etc. Get your credit improved in the meantime and the insurance savings will go a long way to buying good gear, taking a riding course or two etc.
There are lots of CBR250 out there as well and you might be able to scoop one up for around $2000 or less.
If you can wrench a little bit then there is a whack of older bikes like the aforementioned GS 500 which will be better on insurance and will likely not depreciate at all so that $1500-$2000 will find its way back into your pocket when you flip the bike in a season or two and get something you really want. A little patience will see you much further ahead in a couple of years when you have your credit score better and are not under water on a bike you have already outgrown and may have damaged because you are a new rider.
Just some advice from someone who has been down your road before...
http://wwwb.autotrader.ca/a/Honda/C...=motorcycles_atvs&showcpo=ShowCPO&orup=2_15_2
Ride that for a season or 2 (or 3) and move onto a Ninja 300, Yamaha R3, CBR500 etc. Get your credit improved in the meantime and the insurance savings will go a long way to buying good gear, taking a riding course or two etc.
There are lots of CBR250 out there as well and you might be able to scoop one up for around $2000 or less.
If you can wrench a little bit then there is a whack of older bikes like the aforementioned GS 500 which will be better on insurance and will likely not depreciate at all so that $1500-$2000 will find its way back into your pocket when you flip the bike in a season or two and get something you really want. A little patience will see you much further ahead in a couple of years when you have your credit score better and are not under water on a bike you have already outgrown and may have damaged because you are a new rider.
Just some advice from someone who has been down your road before...
Riceburner
Well-known member
Young don't know patience....
It is amazing. The older I get the more I realize that those age old adages are indeed true. "Act In Haste; Repent At Leisure". So true...
To the OP's credit he is pursing a good choice for a first bike. It is not like he is going after a 600cc SS etc. Just the same if he looked hard enough there are older CBR250 and Ninja 250 out there he might be able to buy cash.
I hope the OP has considered how much gear is going to cost him (helmet, riding jeans, boots, gloves etc). The smartest thing a new rider can do is to do a M1 exit course.
I think a budget of $3000 is a realistic figure for someone getting into this. This account for a starter bike, some decent gear, and the M1 exit course.
Fixed.
I'd prefer if they bought houses they can't actually afford so I can get a good deal when the bank repos it and sells it at a loss to me.
eljay
Well-known member
I was talking everything, not just the bike lol. Literally everything. I want 2008 prices again lol.
I don't think you understand what self-admitted bad credit means.
When I bought my first bike it was 0% financing through the dealership. Hard to beat that. When I bought my WRX a couple years ago I financed through the dealership, which just went through Royal Bank, which was lower interest than my line of credit or loan I inquired about separately through my bank. It was a 4% loan.
Only thing I found cheaper was a credit union but the difference was like 1% or something.
SweetOnion
Well-known member
Man those rates are rough for some of you guys... I am on a variable rate called a "Recreational Equipment and Vehicles" loan or something along that name, through TD... it started at 3% and just went down to 2.85% with all this interest rate talk with the Bank of Canada. The best I could get from the dealership was 6%, and I had to finance a minimum of $9,000.. I had enough money to pay for half of the bike, an R6.... I am hoping that they will give me another one for the same rate once this one is paid off, and I will buy another bike. A Hypermotard. 
JFD
Well-known member
If you have bad credit, i'm sure the shops you deal with all use a bank to back them and they'll require checks before approving you. unless the dealer is doing their own credit or some third party sharking place, you likely won't get the loan anyhow.
But if you do, you better read the fine print really carefully. HIgh interest will be likely. I'm sure there's a clause that 'll state if you miss x payments, there's a huge penalty or default of some kind.
Many of the expereinced folks forget their early days. Finance the bike if you really want to get on, just be sure you can keep up with the payments, plus insurance and gear costs on top of it. Who cares if it's a bad investment, it's a mf toy. Don't gotta be rich to be in the club.
But if you do, you better read the fine print really carefully. HIgh interest will be likely. I'm sure there's a clause that 'll state if you miss x payments, there's a huge penalty or default of some kind.
Many of the expereinced folks forget their early days. Finance the bike if you really want to get on, just be sure you can keep up with the payments, plus insurance and gear costs on top of it. Who cares if it's a bad investment, it's a mf toy. Don't gotta be rich to be in the club.
They gave me a better price than any other dealer I talked to. Although there was a $300 financing fee they didn't tell me about until the day of pickup. That was a piss off but I had no way home at that point.
