Interest rates (mx bike loans)

Wolfman
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Wolfman
Edited Date/Time 1/24/2012 9:56am
What interest rates do you guys usually end up financing a bike at? I haven't bought a new one since 2006 or 2007 and the last few I bought, I paid cash. I think in the '90s I financed an RM250 for 18% or some horrific amount like that.

I'm really wanting to get a newer KTM or Honda 450. Getting the itch, bad.
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scooter5002
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scooter5002 10/2/2011 5:28pm
10/2/2011 5:28pm
And that's the only way to buy. Financing is a bad idea. Sign up long term, couple years you want to dump it, or worse, grenade it, and you are upside down and stuck with it. JMHO.
rustytrombone 10/2/2011 5:30pm
10/2/2011 5:30pm
Yeah, save your pennies, work extra hours, whatever, but financing is a terrible idea.
mattmatt300
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mattmatt300 10/2/2011 5:40pm
10/2/2011 5:40pm
ive financed many a dirtbike. usually go through a local credit union and they do used bikes for either 6.5 or 7.5 so id imagine 5ish on a new bike. everybody will say dont finance it pay cash. i say just make sure you get a good deal so you can sell when the time comes and not be upside down. yes its possible
MXD
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MXD 10/2/2011 5:47pm
10/2/2011 5:47pm
I bought a 2011 RM Z450 last fall and my plan was to buy it cash but when I walked in the door, I saw a promotional deal I couldn't pass up. 20% down was 0% interest, 10% down was .99% interest and 0 down was 1.99% interest. Free money is never a bad idea so I put the 20% down and financed the balance for 5 years at 0%. Any deal other than that and I would probably not finance it.

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bgpn35
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bgpn35 10/2/2011 5:48pm
10/2/2011 5:48pm
yea financing is not the best, but some people just dont have the cash i know i dont!! my freind bought a 2011 yz450f wed and he got a pretty good interest at 5.99% through GE Money!!! the way i do it is pay double and put any extra you got with it!! you know what ever is comfy!!
Wolfman
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Wolfman 10/2/2011 5:53pm
10/2/2011 5:53pm
You guys are awesome. Thanks for all of your input.

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