New sxs or bike financing

Excaliburbmx
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Indianapolis, IN US
11/3/2019 1:38pm
What are the usual requirements on credit score etc to achieve dealer financing at the prime rate?

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crowe176
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Spring Lake, MI US
11/3/2019 1:40pm
I would think they'll finance almost anyone. Worse your score, the more you get screwed paying a higher rate.
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Spooner
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Kansas City, MO US
11/3/2019 2:37pm
Low to mid 700's from what I've seen. And they definitely won't just finance anyone, this isn't the car business.
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Excaliburbmx
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Indianapolis, IN US
11/3/2019 3:10pm
Friend of mine wants to get a bike and has a 700 score. I tried to talk him into used but he wants new.
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The Shop

11/3/2019 4:51pm Edited Date/Time 11/3/2019 4:51pm
Friend of mine wants to get a bike and has a 700 score. I tried to talk him into used but he wants new.
What he's saying is, he doesn't have the cheddar to pay up front 75% the price of a new bike for a 95% new bike by allowing a rich old vet rider who goes more overkill on the maintenance than he does riding the bike hard within the 25hrs that he's selling it at..
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Zaugg
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Not California, CA US
11/3/2019 5:30pm
What he's saying is, he doesn't have the cheddar to pay up front 75% the price of a new bike for a 95% new bike by...
What he's saying is, he doesn't have the cheddar to pay up front 75% the price of a new bike for a 95% new bike by allowing a rich old vet rider who goes more overkill on the maintenance than he does riding the bike hard within the 25hrs that he's selling it at..
Must be nice spending other people's money. haha

BTW - I see your point and agree with you on buying a Vet Rider's bike but if this guy's buddy wants a new bike...it's his money.



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11/3/2019 5:34pm Edited Date/Time 11/3/2019 5:35pm
Zaugg wrote:
Must be nice spending other people's money. haha BTW - I see your point and agree with you on buying a Vet Rider's bike but if...
Must be nice spending other people's money. haha

BTW - I see your point and agree with you on buying a Vet Rider's bike but if this guy's buddy wants a new bike...it's his money.



I hear ya man... the irony is, it’s the buddy’s buddy spending some else’s money... except they’ll actually make money off his money. Not bashing anyone who wants to finance a bike. Just not something I personally could ever justify.
MXDAD140
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Madison, MS US
11/3/2019 5:34pm
crowe176 wrote:
I would think they'll finance almost anyone. Worse your score, the more you get screwed paying a higher rate.
They look hard at debt to income also.
Excaliburbmx
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Location
Indianapolis, IN US
11/3/2019 5:49pm
I was wanting to sell him my 2017 kx450f but he don’t want to drop a chunk at once but paying a small payment is not much heartburn for him.

I’m sure after 5 years it will have less than 40 hours on it. He isn’t an avid rider so I was trying to sway him with a clean used bike.
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ElliotB16
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6/10/2019
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Cairo, GA US
11/4/2019 4:28am
About tree fiddy credit score
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crowe176
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9/8/2006
Location
Spring Lake, MI US
11/4/2019 4:32am
crowe176 wrote:
I would think they'll finance almost anyone. Worse your score, the more you get screwed paying a higher rate.
MXDAD140 wrote:
They look hard at debt to income also.
Yea, 2006 was the last time I financed a bike and I didn’t even have a job and Suzuki approved me for an RM. I’m sure a lot has changed since then lol.
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opyguy
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567
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8/22/2016
Location
Boston, MA US
11/4/2019 8:18am
bot a 250sx for 7200 OTD.
put down 3k, payment was 119 for 36 months (3.9%)...less than a cell phone
I will sell bike for 3900 and just redo the same thing.
In my eyes I'm paying 1k a year for a new bike every 3 years, works for me. fyi
Falcon
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Menifee, CA US
Fantasy
765th
11/4/2019 11:39am
Over 600 score, for sure. No recent late payments, and a small debt/income ratio will help. Anything 650+ is probably going to get him a better rate. 10-20% down also helps get him into the "better" loans. (All lenders vary, of course - have him shop a little bit first.)
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