Choppa' said:Thanks for the replies.
Got one quick question, why wouldnt financing be the best idea? I dont have much cash saved up so would it be better to finance, or just get a loan through my bank. Thanks again
Also, yall are right, the price is too high.
mtk said:Well, I've got a slightly different take on this.
I agree that "conventional" financing will cost you a nice chunk of change, particularly on motorcycle financing from the dealer since they tend to have high interest rates.
However, I bought both my CR250s and my Maico 490 using a credit card and I'm not paying a dime in interest. Here's how I did it: I have a job, a mortgage, and good credit. As such, I get credit card offers in the mail on a near-daily basis, most of which have 0% interest for at least a period of time. I simply deposited a Visa check (from a current credit card account I had) in my bank to "create" the funds for my bikes. That was my loan application. Then I took two of those "0% APR, no balance transfer fees" credit card offers I got in the mail, called them up, and transferred the balance to them (half on each card). Other than the small nominal fee for the first transaction, I'm using a big chunk of the bank's money and it isn't costing me a cent. If I can't get it paid off before the end of the 0% period, I'll simply take another application out of my junk mail and transfer it again.
As long as you never have a late payment, you'll never pay a cent in interest. I get to use their money for nothing and also get to ride the bikes now, rather than save for a year and then buy them.
Most importantly, I get an immense amount of satisfaction out of beating the credit card companies at their own game. :)
3SuperSports said:Be patient grasshoppa' ! The finance charges are just money you're throwing away.
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