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so there is this red 05 cbr600rr on cycletrader.com that is just what i want. its got under 6000 miles on it and is going for about 5500. only problem is, its threw a dealer and i talked to the guy and he said its going to be around 6000 out the door. i think thats bogus, but the last couple of bikes i had were threw private parties and had problems which drove me to sell eventually. i like that the dealer has it and that i could also get some sort of financing but dont really think its worth a grand. thoughts? also if i decided to go private party how would i get the bike checked out by a profesional? and (sorry last one) how do i go about financing a private party sale?
thanks guys sorry about the super long post
 

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Blue Book is at $5940. Mention that to him.

The $1000 for financing is just the interest you will pay for being able to pay the bike off over time. If you don't want to pay that, you'll have to pay for it with cash.

To go through a private party and get the bike checked out, just ask them/accompany them to the shop and have it checked out.

To finance a private party sale, you'll need to go through a bank or credit union.
 

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Hey man, just tell them. Bike's sold right now for 5500, and if not then you'll take your business elsewhere. If you happen to walk, come back in a week and see if its still there and keep trying. Either way there's always another bike out there you'll like.

Personally a bike w/ 6K on it might not even be worth it. I got my 08cbr brand new for 8500 before taxes. That's not too far off from 6K and its new.
 

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I will throw in my two cents but I don't know if you will like it:

1) If the bike is selling for $5500 and out the door for 6000 (as far as taxes and tags--not talking about value of bike), that isn't that bad. You have to consider that taxes and tags add up. Not only that, but don't think that just because you are buying privately, you are avoiding the taxes and tags charge. When you go to sign over the title at the notary and get the tags, you will get hit for those charges similarly to the way a dealerships hits you. The only twist to that is that sometimes the seller will help you out by saying he only charged you $2,000 instead of $5,500 so the taxes won't be as bad.

2) Financing a bike is not the easiest thing to do simply because your credit has to be pretty solid to even be considered. I know when I was younger (and eager to get a bike) I was disappointed to see I wasn't even considered for a loan without a co-signer.

3) To get it financed privately you could go to your bank but you would hit the same obstacles. Banks are NOT quick to give big loans for "recreational" or "secondary" vehicles. If you did a personal loan, that would be an option but then you are looking at decently high interest rates. Think long term payment or it will bite you in the A$$.

4) Even if you did buy it privately and were dead set on getting it inspected by a "professional" you would still be dishing out more money. Then what happens? He finds "this and that" that needs to be tended to and even more money yet. Not discouraging a private deal by any means but there are pros and cons to both. Also, just because it is a dealer does not give him the gold platinum seal of approval that is full proof. Perhaps you have a friend who is a motorcycle guru who can help.

5) Again, not what you want to hear but I have seen guys jump into getting a bike when they are not financially ready. Be honest with yourself. Have you thought about buying the gear that is a MUST: helmet, glove, jacket, boots, etc. $$$$ How about insurance? $$$$$ How about mods, maintenance, and storage??? $$$$$

Just think of the big picture. We love seeing new riders but if you jump into things too quickly, it may burn you long enough to keep you out of the game even longer. My recommendation: save some money to the point where you can get everything you want and NEED and it will be that much more worth it to you.
 

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Most banks concider bikes and cars the same. It's very easy to get a motorcycle loan. Easier then a car actually, unless you have poor credit.

Private party is the way to go, if you know what you are doing. Dealership ususally offers some major benefits (for extra cost): free short term storeage, usually free warranty, handleing the tags and taxes for you, ect.

The best way would be to find a mint bike with a honda warranty private party.
 

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Oh, yeah, this time of year dealer prices are "firm". Because it's going to be spring and tax time. I was disapointed when I found this out also.
 

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I will throw in my two cents but I don't know if you will like it:

1) If the bike is selling for $5500 and out the door for 6000 (as far as taxes and tags--not talking about value of bike), that isn't that bad. You have to consider that taxes and tags add up. Not only that, but don't think that just because you are buying privately, you are avoiding the taxes and tags charge. When you go to sign over the title at the notary and get the tags, you will get hit for those charges similarly to the way a dealerships hits you. The only twist to that is that sometimes the seller will help you out by saying he only charged you $2,000 instead of $5,500 so the taxes won't be as bad.

2) Financing a bike is not the easiest thing to do simply because your credit has to be pretty solid to even be considered. I know when I was younger (and eager to get a bike) I was disappointed to see I wasn't even considered for a loan without a co-signer.

3) To get it financed privately you could go to your bank but you would hit the same obstacles. Banks are NOT quick to give big loans for "recreational" or "secondary" vehicles. If you did a personal loan, that would be an option but then you are looking at decently high interest rates. Think long term payment or it will bite you in the A$$.

4) Even if you did buy it privately and were dead set on getting it inspected by a "professional" you would still be dishing out more money. Then what happens? He finds "this and that" that needs to be tended to and even more money yet. Not discouraging a private deal by any means but there are pros and cons to both. Also, just because it is a dealer does not give him the gold platinum seal of approval that is full proof. Perhaps you have a friend who is a motorcycle guru who can help.

5) Again, not what you want to hear but I have seen guys jump into getting a bike when they are not financially ready. Be honest with yourself. Have you thought about buying the gear that is a MUST: helmet, glove, jacket, boots, etc. $$$$ How about insurance? $$$$$ How about mods, maintenance, and storage??? $$$$$

Just think of the big picture. We love seeing new riders but if you jump into things too quickly, it may burn you long enough to keep you out of the game even longer. My recommendation: save some money to the point where you can get everything you want and NEED and it will be that much more worth it to you.

^^^^^What he said!!
 

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It has been a while since I have tried taking a loan on a bike. From my past experiences it was definitely harder but that was...$hit...eight years ago??? Maybe my credit wasn't as good then as it is now too, haha. That and banks are in need of the business. I'm still surprised that Boost said it is "easier" than a car loan to get. Whether it is true or not, that doesn't make any sense to me. Either way (and I hate to sound "fatherly" because I am anything but) I'd recommend saving the cash first. Make a list of all your expenses you expect to incur and if it feasible, go for it...if not, that right there is motivation to work harder.
 

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Bike loan is harder to get from the bank than a car loan is. Interest rate will also be higher than a car loan. A motorcycle is considered a recreational vehicle....and you have to pay to play!!!

Like Endurance said...make sure you know what you are getting into. A motorcycle is not a huge purchase in itself, but along with it come a lot of other things that need to be paid for....gear, ins., etc...
 

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Why not a line of credit over a loan? In Canada at least, through RBC i pay prime rate +1% which is basically 5.5 or 6% (dont remember ..) annually.. Its 'open', meaning no set payments are required and if for whatever reason you find 6000$, you're more than able to pay it off in one shot.. I paid half of my bike off cash, the other half, through this account, which is also cash, but in terms of banking, it's cash through a line of credit.. You can also transfer the money to and from your accounts, ie. Credit cards, GIC's, TSFA's or personal checking.

I paid 5000 for my 03.. i know i know.. however it did come well modded, lightly ridden and well treated.. Point being, check out a 'line of credit' through your bank. It's a pretty sweet option, and really helps in the future to rack up credit points.
 

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Oh and to add. The account was capped my first year @ 6000$. Now, since i've been a 'good customer' it's moved to 10,000, no questions asked etc. Definitely a good way to go in the future over mortgaging a house depending on how the rates are.. I'm no financial advisor so um, check it out haha
 

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Why not a line of credit over a loan? In Canada at least, through RBC i pay prime rate +1% which is basically 5.5 or 6% (dont remember ..) annually.. Its 'open', meaning no set payments are required and if for whatever reason you find 6000$, you're more than able to pay it off in one shot..
Oh you Canadians! The only significant difference I can distinguish is the no set payments (we can't be trusted like that, haha). I guess you do hear about those deals like NO PAYMENTS UNTIL 2011 on furniture and stuff, but that is all I can think off. I once had a bar tab and I thought that was a credit line of credit! In all serious though, I'd guess that unless it was a close friend, business associate, or someone who is sponsoring you that you'd be stuck with taking out a loan w/ the rates and set payments for a bike. Help me out guys??? Maybe it is just something I am completely ignorant of. If that was the case, I'd like to learn more!

My girlfriend who will soon be my fiancee is from Brantford, Canada by the way. I'll have to make a mental note of this in case I ever move there down the road.
 

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so I gotta question about getting your tags and putting a lower price on the title. I have done it for the past two bikes I have bought, but exactly how dangerous is it? im just waiting for the lady at the counter to call me out for paying "$1300" for a 2005 600rr haha. any chance they will ever question the price I have down on the title? I could always just say "it's a fixer-upper". Just kinda thinking out loud...
 

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Alright, to get a bike checked out. Write up a contract stating if there is any issues that weren't caused by you then a return is applicable. Basically state that unless you cause the damage and there is a problem when the "pro" inspects the bike then a return is fine. Make sure they understand to.
 
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