Honda CBR 600RR Forum banner

1 - 20 of 30 Posts

·
Registered
Joined
·
114 Posts
Discussion Starter #1
I was wondering what the experience has been for those of you who are younger (20 or less) and own your 600rr and got it financed. I'm 18 and looking to get an 03, most likely from the dealer, and will need financing for about half of it, perhaps a little more. I was wondering if you guys had any trouble getting aproved. I have a small amount of credit but not alot (phone bills and a loan that i'll be paying off before i buy the bike if i do). A parent cosigning it is possible but not likely (selling house and goign to need to take out a new loan for the next one, so the less unsettled debt the better). I'm just trying to figre out what to do. The 6rr is one of a few bikes i'm considering buying (i currently own an ex250, i've been riding it for about 5 months now, and it's not enough anymore, the 600rr is by far the prettiest of the 600s, not to mention it's agility, power, etc). Thanks for any help.
 

·
Registered
Joined
·
990 Posts
It'll be pretty hard to get the 600rr without good credit or a huge down payment without a cosigner. Maybe you should look at more affordable bikes, perhaps used? Don't dig yourself a financial grave over something like a motorcycle. The 600rr will always be around and updated models are always around the corner.

I lusted after the 600rr for a long time. When it came down to it, I ended up going with a different bike. There were several reasons for the switch, but one you can relate to was the money issue. I could've gotten the RR, but it would've been a huge financial problem for me in the end.

Plan for your future. Don't get anything that may hurt you in the end financially.
 

·
Registered
Joined
·
1,235 Posts
Your DEFINETLY going to have to get a co-signer! Its like 3 times harder to get approved for a bike than a car. I remember when my friend went to buy his RR (he was 19) and he has never missed a payment in his life AND infact, he made double payments on his truck for about a year and he has credit cards and stuff ALL payed off and they said he has perfect credit, but not enough backround, therefore, they wouldnt let him get the bike without a co-signer. The guy trying to sell the bike then went on to say "People come in here all the time just thinking they can finance a bike 1,2,3 but really, its alot harder. They come in here saying 'BUT I GOTZ AN ESCALADE!' and I just say 'Well, with bikes its alot harder" and then we all looked at eachother and went 'wow, thats some gayyyyyyyyyy stuff!'



The end.
 

·
Registered
Joined
·
45 Posts
im 18, downed 2500 no co-signer i have pretty good credit. all bills are paid for ... i pay almost triple my monthly payment on my bike ..... i dont think you should have a problem
 
H

·
Guest
Joined
·
0 Posts
i agree with jayel579, ... do not start the that debt $hit now...,. trust me it sux
 

·
Registered
Joined
·
114 Posts
Discussion Starter #7
No reason not to start them now, i've bene making payments for the past while. I work quite a bit and am planning on keeping it that way. thanks for all the advice, judged form the mixed responses i'll just have to wait until I go to the dealer and see what they say. Hopefully it's agreeable. I understand what yall are saying about waiting...but it's just so pretty

if i can find a salvage one for a decent price i might jump on that too. Eiether way, thanks for the responses
 

·
Resident Leg-Humper Females Beware
Joined
·
6,874 Posts
you are 18, dont get into any payments. youll have them for the rest of your life
Amen dude... I'm 23, have recantly gotten out of like 15K in debt, car credit cards, engagement ring... etc.

Don't waste it on a bike if you can't handle it. You're 18.. what are your plans for the next 5 years... do they include having to pay at least $200 for a bike a month PLUS insurance? and at 18, your insurance will be HUGE on this bike! Just consider it before you spend the money. Or save up cash for a while and get a used '03 in the off season (they'll be cheap).

Well, not saying don't do it, ya gotta live to enjoy life, but just heavily consider it! Getting in debt to your eyeballs SUX HARD!!
 

·
Registered
Joined
·
75 Posts
hey, im 18 financed my 03 got approved by HONDA 6.9% paying around $180 a month for 60 months with 0 down.
 

·
Registered
Joined
·
73 Posts
i'm 17, 3k+ (cdn) insurance a year is terrible (for me anyways..), i can't imagine trying to get on my feet by myself at 18 with a bike as a burden already, but thats just me.
 

·
Registered
Joined
·
114 Posts
Discussion Starter #11
Insurance really isn't that bad for me. you'd htikn it would be, seeing as how i have 8 points on my licence ( 3 speeding tickets, one was , the other two were 2), and I'm 18. I pay 400/yr for liability on my ex250, i ran a quote for an 03 600rr with comprehensive (since you need it in he case of loans) was 1350/yr.

I've been considering saving and waiting until offseason but realistically I'm having a hard time waiting. The 250 just doesn't cut it at all, I'm starting to get bored while riding which is NOT a good thing. I'm doing all I can and it still gets exciting sometimes (taking 15 mph chicanes at 45-50, for instance) but the only time it's fun still is when i keep it up in the high revs and run around, and at that points it's more of amusing than fun. I rode my buddie's f4i and it scared me (granted i was also gearless so that could've been the problem as well). Not scaring in a bad way, but in my opinion it's good to be afraid of the machine, it makes you respect it that much more, it's not longer like that with the 250. Hell i slide the ass around quite a bit and i'm starting to drag toes...not a good idea for a "new" rider but at this point i'm not scared of the biek anymore.

Bleh, that was an exquisitely long reply, heheh. I might get a 600rr, i might not, but every time i see one i grow a nice rubbery one, that has to count for somethin.
 

·
Registered
Joined
·
990 Posts
Again, I'll have to agree with everyone else. Don't get into something you can't handle with ease. It's not worth it for a bike.

1350 a year for insurance and you have 2-3 tickets? That sounds like liability to me. If you finance they'll force you to AT LEAST get comprehensive and that could be up to $3000 a year. And if they force you to get full coverage, then you might be looking at up to $5000 a year.

Don't ruin your financial life over something as silly as an RR. Besides, you've only been riding for a few months. Try looking at some used SVs or something comparable. The only practical reason for buying an RR is for the track. The number one impractical reason is for flossin'. You can take a cheaper, used bike to the track and look just as cool. Save your money for other stuff, dude.
 

·
Registered
Joined
·
990 Posts
o2sys said:
hey, im 18 financed my 03 got approved by HONDA 6.9% paying around $180 a month for 60 months with 0 down.
wow. sounds like honda raped you without lube or a condom.
 

·
Resident Leg-Humper Females Beware
Joined
·
6,874 Posts
you will need comprehensive AND collision coverage if a bank holds your title (a lien). but costs for insurance can definitely vary state to state, so aren, your $'s in cali are for cali, not OH in the middle of BFE... heh, lived there once...

as far as Aren's advice about an RR only for track... i odn't agree... buy it because you love it, love riding it... but looking at something used/dif bike is practical. I bought a '00 Mercury Cougar Spec. Edition (yellow btw) brand new and that saddled me with $400 a month payments at 20 y.o.! getting into a payment like that long term is not a smart thing to do at your age. i've known people that had to sell cuz they couldn't afford payments.

well, just my $.02 but consider it all as advice from peeps that have been down the road your thinking of turning onto...
 

·
Registered
Joined
·
876 Posts
aren said:
o2sys said:
hey, im 18 financed my 03 got approved by HONDA 6.9% paying around $180 a month for 60 months with 0 down.
wow. sounds like honda raped you without lube or a condom.
Well, he didnt put anything down and the APR is only 6.9% plus it is for 60month, I dont think he got screwed. Maybe he didnt bargain enough on the purchase price.
 

·
Registered
Joined
·
990 Posts
honiton said:
aren said:
o2sys said:
hey, im 18 financed my 03 got approved by HONDA 6.9% paying around $180 a month for 60 months with 0 down.
wow. sounds like honda raped you without lube or a condom.
Well, he didnt put anything down and the APR is only 6.9% plus it is for 60month, I dont think he got screwed. Maybe he didnt bargain enough on the purchase price.
oh no down? well that's not too bad. but insurance must be awful...and for 5 years...WOW...long time
 

·
Registered
Joined
·
114 Posts
Discussion Starter #18
aren: it was for 1000 deductable comprehensive. Basic liability was around 800/yr.

I agree with what yoyu all are saying about not getting in over my head. The way i'm looking at it is: I consider myself to be a relatively quick learner, and I want a bike that I can get alot out of before i have to move on. I was considering older r6's (99-02) however i've read that they're a bit small for taller people (i'm 6'2" 175). I sat on once just for a second and it felt too small to me as well. I was thikning maybe an f4i(fuel injection is a big plus) but the one i rode was felt awkward, maybe just cuz i wasn't used to it and only rode it for a mile or so, and i hadn't riddin in a few weeks prior to that. I dunno why i'm justifying it to you guys, heheh. Thanks for the advice, I'll be sure to look around and explore my options. But damn, all black RR's are sexy.
 

·
Registered
Joined
·
990 Posts
you got comp for only 1k a year with all those tickets? man awesome deal!

RRs are sexy...but other bikes will come along and you'll always find something nicer

the bikes are just getting sexier and sexier as time passes, man

but good luck with whatever you go with

either way, you'll be happy :cool:
 
1 - 20 of 30 Posts
Top