How did you purchase your CBR? - 600RR.net
Polls and Research Take a poll and discuss your research here

View Poll Results: How did you purchase your bike?
Cash 76 39.79%
Financing through dealership 54 28.27%
Financing through your own bank 28 14.66%
Financing with credit union. 33 17.28%
Voters: 191. You may not vote on this poll

Reply
 
LinkBack Thread Tools
post #1 of 34 (permalink) Old 04-08-2006, 08:38 PM Thread Starter
Knee Dragger
 
Join Date: Oct 2005
Posts: 249
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
How did you purchase your CBR?

Just wondering how many of you either purchased your bike by
1. Cash
2. Financed through dealership
3. Financed through your bank
4. Financed through a Credit Union.

the reason why im asking is because im looking to finance a bike. maybe learn more about what everyone else is financing at, what percent, tips and advise, etc.
cbr_220 is offline  
Sponsored Links
Advertisement
 
post #2 of 34 (permalink) Old 04-08-2006, 08:40 PM
 
Join Date: Oct 2005
Posts: 2,161
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
Cash all the way... I think any rate you get at a bank will be better than financing through Honda, Unless of course your credit is terrible.
CollegeRider is offline  
post #3 of 34 (permalink) Old 04-08-2006, 08:53 PM
Moto GP Racer
 
AlpineJim's Avatar
 
Join Date: Oct 2003
Location: Ohio
Posts: 4,894
Thanks: 0
Thanked 2 Times in 2 Posts
Feedback Score: 3 reviews
Cash... I was in the gulf for 7 months and saved over 10k...... got it for 8200 OTD...

Matthew
03' 600rr - Track
AlpineJim is offline  
post #4 of 34 (permalink) Old 04-08-2006, 09:35 PM
AMA Supersport Racer
 
Casino's Avatar
 
Join Date: Jun 2004
Posts: 659
Images: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 4 reviews
I did honda credit card financing. when the rates were low. I had the cash but chose to invest it at a higher rate. Then I just paid it off after the year.

If your credit is decent, put it on the Honda Card then transfer it to a Citibank Card (O% balance transfer fee lifetime). Invest the cash you would have spent on the bike, or use it for something else worthwhile that you would have had to finance. You'll have your dollars working for you then.
Casino is offline  
post #5 of 34 (permalink) Old 04-09-2006, 12:44 AM Thread Starter
Knee Dragger
 
Join Date: Oct 2005
Posts: 249
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
i think my credit is decent, shouldn't be bad.

casino - so what i should do is purchase a bike with the honda card, with whatever their apr is, then transfer it to a citibank card that has no transfer fees? why citibank? do they have low apr? i know if i sign up now, i can get 0%apr for 12 months, and i plan to pay it off within a year.
so i would keep it on the honda card till payments are low enough to tranfser to another credit card such as citibank?
cbr_220 is offline  
post #6 of 34 (permalink) Old 04-09-2006, 12:55 AM
World Superbike Racer
 
Black05rr's Avatar
 
Join Date: Mar 2005
Location: Jacksonville, FL
Posts: 2,193
Images: 53
Thanks: 0
Thanked 3 Times in 3 Posts
Feedback Score: 11 reviews
Quote:
Originally Posted by Casino
If your credit is decent, put it on the Honda Card then transfer it to a Citibank Card (O% balance transfer fee lifetime). Invest the cash you would have spent on the bike, or use it for something else worthwhile that you would have had to finance. You'll have your dollars working for you then.
That is exactly what I did. Even if you can only get 1 year interest free, chances are you will get another credit card offer before that year is up and you can transfer it again. Just make sure there are no balance transfer fees and that the APR after the promotional period is not insane in case you get stuck with it. I have excellent credit and Honda still wanted to charge me 14.9% so I transfered that $hit ASAP. Get your finances in order before purchasing the bike as the first payments through Honda are basically all going toward interest and not principal.

Eric
Black05rr is offline  
post #7 of 34 (permalink) Old 04-09-2006, 01:05 AM Thread Starter
Knee Dragger
 
Join Date: Oct 2005
Posts: 249
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
got it, thanks.
cbr_220 is offline  
post #8 of 34 (permalink) Old 04-09-2006, 01:39 AM
 
Join Date: Jan 2006
Posts: 1,731
Images: 6
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
through my own bank which is a credit union lol
mr_600RR is offline  
post #9 of 34 (permalink) Old 04-09-2006, 01:40 AM
AMA Supersport Racer
 
ImhurdlerJr's Avatar
 
Join Date: Jul 2003
Location: Leesburg, VA
Posts: 525
Images: 5
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
I got mine back in July of 03. At that time I was making 21k a year. Cash was not an option for me. But they had 0 down 0 intrest and payments for 3 months then 6.9% for the life of the loan.

Another big factor for me was the insurance. If you plan to ride it on the street I would suggest getting a quote before you buy the bike.

Good luck,
Dusty

03 600RR, Yellow

Check out some pictures below
www.urmom.net
ImhurdlerJr is offline  
post #10 of 34 (permalink) Old 04-09-2006, 05:38 AM Thread Starter
Knee Dragger
 
Join Date: Oct 2005
Posts: 249
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
Quote:
Originally Posted by ImhurdlerJr
I got mine back in July of 03. At that time I was making 21k a year. Cash was not an option for me. But they had 0 down 0 intrest and payments for 3 months then 6.9% for the life of the loan.

Another big factor for me was the insurance. If you plan to ride it on the street I would suggest getting a quote before you buy the bike.

Good luck,
Dusty
i got a quote for $480/yr for liability. should i get full-coverage? i know there are possibilities of dropping the bike and other accidents. i just figure insurance in the longrun will cost me more than the bike itself. theft is not a concern. any suggestions to get full coverage?
cbr_220 is offline  
post #11 of 34 (permalink) Old 04-09-2006, 10:18 AM
World Superbike Racer
 
Black05rr's Avatar
 
Join Date: Mar 2005
Location: Jacksonville, FL
Posts: 2,193
Images: 53
Thanks: 0
Thanked 3 Times in 3 Posts
Feedback Score: 11 reviews
Quote:
Originally Posted by cbr_220
i got a quote for $480/yr for liability. should i get full-coverage? i know there are possibilities of dropping the bike and other accidents. i just figure insurance in the longrun will cost me more than the bike itself. theft is not a concern. any suggestions to get full coverage?
If you are going to turn 25 anytime soon I would wait to get the bike and call State Farm. I pay $19/month for full coverage but when I was 24 they wanted about $200. Get the full coverage and you can sleep a lot easier.

Eric
Black05rr is offline  
post #12 of 34 (permalink) Old 04-09-2006, 10:22 AM
AMA Supersport Racer
 
froggie3kb's Avatar
 
Join Date: Aug 2005
Location: Rossville, GA
Posts: 1,447
Thanks: 2
Thanked 44 Times in 17 Posts
Feedback Score: 5 reviews
I financed mine through my bank... I wish I could have paid cash, but i'm not good at saving up $$ before I want to spend it on something so I would have never gotten a bike then lol.









Quote:
Originally Posted by Black05rr
I pay $19/month for full coverage but when I was 24 they wanted about $200. .

Wow, I envy you...

2013 Honda Motorcycle News http://www.HondaofChattanoogaBlog.com (Fixing to transfer over to HondaPowerSportsNEWS.com to be only news orientated)
froggie3kb is offline  
post #13 of 34 (permalink) Old 04-09-2006, 10:33 AM
World Superbike Racer
 
Black05rr's Avatar
 
Join Date: Mar 2005
Location: Jacksonville, FL
Posts: 2,193
Images: 53
Thanks: 0
Thanked 3 Times in 3 Posts
Feedback Score: 11 reviews
Post

Quote:
Originally Posted by froggie3kb
Wow, I envy you...
Multi policy discount. Get your bike/car & house/apartment insurance through State Farm. That third policy saves you a ton :01_thumbu

Eric
Black05rr is offline  
post #14 of 34 (permalink) Old 04-09-2006, 10:43 AM
AMA Supersport Racer
 
Casino's Avatar
 
Join Date: Jun 2004
Posts: 659
Images: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 4 reviews
Quote:
Originally Posted by cbr_220
i got a quote for $480/yr for liability. should i get full-coverage? i know there are possibilities of dropping the bike and other accidents. i just figure insurance in the longrun will cost me more than the bike itself. theft is not a concern. any suggestions to get full coverage?
Insurance is a judgement of risk, if your full coverage premium is astronomical you may be better served saving the money with liability and covering your own damages out of pocket.
Casino is offline  
post #15 of 34 (permalink) Old 04-09-2006, 11:39 AM
AMA Supersport Racer
 
Gonzo RR's Avatar
 
Join Date: Nov 2005
Location: Boston
Posts: 604
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 1 reviews
[QUOTE=froggie3kb]I financed mine through my bank... I wish I could have paid cash, but i'm not good at saving up $$ before I want to spend it on something so I would have never gotten a bike then lol.

lol...same here. i'm good at spending cash, not saving it..unfortunatly.
Gonzo RR is offline  
post #16 of 34 (permalink) Old 04-09-2006, 12:04 PM
AMA Supersport Racer
 
knightrider578's Avatar
 
Join Date: Sep 2005
Location: kent, wa
Posts: 520
Thanks: 0
Thanked 1 Time in 1 Post
Feedback Score: 0 reviews
financed through my bank first cause ex wife ruined credit than after 6 months paid it off with the saved money from deployment
knightrider578 is offline  
post #17 of 34 (permalink) Old 04-09-2006, 12:08 PM
Why isn't this an option? Why man, why?
 
hitman83's Avatar
 
Join Date: Mar 2005
Location: Mission Valley, San Diego
Posts: 2,641
Images: 22
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
got mine through the dealer then refinanced with a credit union. i couldn't wait when i was at the dealer so i said f*ck it. paid it off now so i no more payments. ahhh...



BLACK '05 - STOLEN
TRACK BIKE - '08 DUCATI 848
DAILY DRIVER - '06 DUCATI SPORT 1000

LOUD CLUTCHES SAVE LIVES

Imagination is more important than knowledge - Albert Einstein
hitman83 is offline  
post #18 of 34 (permalink) Old 04-09-2006, 07:54 PM Thread Starter
Knee Dragger
 
Join Date: Oct 2005
Posts: 249
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
so if i finance through the dealership and transfer to a 0% apr balance transfer...

when do i get the title for my bike?
cbr_220 is offline  
post #19 of 34 (permalink) Old 04-09-2006, 08:32 PM
AMA Supersport Racer
 
Casino's Avatar
 
Join Date: Jun 2004
Posts: 659
Images: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 4 reviews
Depends on the state, you always get the title immediately to register with the DMV. Some state DMV's will mail the executed title to the lien holder, while others will mail it to you.

After paying off the bike, GE Finance (the Honda Card) mails the lien release form in 2-3 weeks -- and assumably the title if they possess it.
Casino is offline  
post #20 of 34 (permalink) Old 04-11-2006, 01:33 AM
 
Join Date: Nov 2004
Posts: 33
Images: 31
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
Dude I'm on a finacing term and it blows.....if you got the $cash$ I definatly reccomend that you hook your whip up that way....the money you save on interest will hopefully get you somethin' juicy for your bike (ie- exhaust). As for insurance, I go through CAA (in Canada. AAA in the states) I pay 700$/year CND. I'm 22 years old so that not a bad rate. Get a quote from them it might do you some good. If you go w/ financing a bike, bargain with them don't go higher than 4-5%. Anything else is to high.
My 2 cents....
Peace.
loco_rr is offline  
post #21 of 34 (permalink) Old 04-11-2006, 02:16 AM
Moto GP Racer
 
natas's Avatar
 
Join Date: Mar 2005
Location: san antonio texas
Posts: 2,626
Thanks: 0
Thanked 13 Times in 12 Posts
Feedback Score: 0 reviews
cash worked for me.
natas is offline  
post #22 of 34 (permalink) Old 04-11-2006, 07:07 AM
Pocketbike Racer
 
dragon129's Avatar
 
Join Date: Sep 2005
Location: New Bern, NC
Posts: 386
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
I never finance, or get new bikes...Always with cash and a year or 2 old. You always spend and then lose too much money on new bike purchases.
dragon129 is offline  
post #23 of 34 (permalink) Old 04-11-2006, 12:24 PM
 
Join Date: Mar 2006
Posts: 211
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
Got it as a gift from the wifey!
piratebike is offline  
post #24 of 34 (permalink) Old 04-19-2006, 06:49 PM
AMA Supersport Racer
 
wynngripRR's Avatar
 
Join Date: Mar 2006
Location: Fargo
Posts: 1,244
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 1 reviews
My full coverage was quoted at 3k a year. F THAT! Im 20 yrs old and was a dumbass and got a dui when I was 17. I just got liabilty and it was 350 for the entire year.
wynngripRR is offline  
post #25 of 34 (permalink) Old 04-19-2006, 07:04 PM
cvlighthouse
Guest
 
Posts: n/a
My x at the time offered me a trip on the Concord to Europe or a bike for my birthday. I took the bike.
post #26 of 34 (permalink) Old 04-19-2006, 07:07 PM
 
Join Date: Jan 2006
Posts: 1,731
Images: 6
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
Quote:
Originally Posted by cvlighthouse
My x at the time offered me a trip on the Concord to Europe or a bike for my birthday. I took the bike.
good choice bro!
mr_600RR is offline  
post #27 of 34 (permalink) Old 04-19-2006, 07:18 PM
cvlighthouse
Guest
 
Posts: n/a
Ya, I'd say so. I also got mod $$$ and went straight into Dan Kyle's and bought an Arata full system, PCIII, CRG's, and Sato rearsets. Then she bought me a A* Venom leathers, SMX boots, GP plus gloves, tech back protector. Sine then I've bought the x-11, GPR, Fabbri, etc., etc., etc., the list goes on and on.

More here: https://www.600rr.net/vb/showthread.php?t=31314
post #28 of 34 (permalink) Old 04-19-2006, 07:50 PM
AMA Supersport Racer
 
Scalarrthu's Avatar
 
Join Date: Mar 2004
Location: Las Vegas, NV
Posts: 573
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 0 reviews
I just swiped the credit card and paid the balance at the end of the month. Very easy transaction, plus I got points on my GM card, which alone saved me over $400.00 on my truck.

2003
-It's all relative.
Scalarrthu is offline  
post #29 of 34 (permalink) Old 04-19-2006, 07:55 PM
cyclesector.com

 
Disco's Avatar
 
Join Date: Sep 2005
Location: San Diego
Posts: 13,432
Images: 31
Thanks: 5
Thanked 224 Times in 168 Posts
Feedback Score: 85 reviews
I got a sweet rate of 4.9% APR with Honda :)

Disco is offline  
post #30 of 34 (permalink) Old 04-26-2006, 08:06 PM
AMA Supersport Racer
 
itz.damenace's Avatar
 
Join Date: Jun 2005
Location: DC Baby! => Hotlanta
Posts: 668
Thanks: 0
Thanked 0 Times in 0 Posts
Feedback Score: 5 reviews
Paid for in full <--- CASH
itz.damenace is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the 600RR.net forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome