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Discussion Starter #1
Any advice on financing...

I knew the rates were different - but - wow they are quite a bit higher. Any experience with the online guys? The help is appreciated. My only other thought was to try a local credit union...

:)

-Lance
 

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If you are a credit union member, I would definitely try them before any online lenders right now.

I don't know of any of the latter who do motorcycle loans, so I couldn't evaluate their services or rates for you, but I notice those who do unsecured loans are pretty high right now.
 

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Check with you insurance agent. In Florida they can also offer loans. Don't know about CA. Actually got a much better rate going that route than my credit union.
 

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My credit union gave me the same rate as they do for cars. The only thing they wouldn't do is finance the extra bits, for reasons that aren't clear to me, but I didn't mind.

Off topic, I would like to put in plug for credit unions. They're great. I have my mortgage and all of my loans with my credit union, as well as personal accounts. I will never deal with a bank again as long as I have access to a decent (and decently-large, well-capitalized) credit union. Service is better, and fees are much less than ANY bank in the area.
 

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Don't know, but this place has the best prices in L.A. Select a bike and you'll get an immediate auto response in your email with the out the door cost. I tried almost every dealer in so cal. and the absolute best price i got was $100 more than this place, which by the way i didn't call because i was yold they're a lousy dealer. But knowing what i know now that doesn't matter. Just buy it there but don't go there for any service or parts. The place i got mine from was $100 more that the link above but still very low compared to all the other dealers, and i later found out they are both owned by the same owner.
 

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One of the local credit unions gave me a 6% rate when I financed my T-100. At the time they were changing their profile and offered some great deals to attract new customers. It worked out great for me. My dealer turned me on to the possibility. If you have a halfway decent dealer, you may wish to ask them where to find a good deal on financing. It is in their best interest to point you in a desirable direction...
 

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The dealership might have some advice about rates. When I bought my Suzuki, the dealership, eager to make the sale, found the best local rate for me at a credit union. It was somewhere around 5 or 6. It went down half a point for loyalty when I bought my Triumph, and will go down another half a point should I finance another vehicle through them.
 

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I checked with two credit unions. My regular CU wanted 9% but said they would be having a 5 1/2% special in "a couple of months". This was in February. The second CU financed the bike for 5% in February. Check around, all CUs are not created equal.

Dennis
 

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Depending on your credit, and potential risk-tolerance levels, you can always get those 0% interest bonus checks from a credit card company and make your own financing.

The can be significant downside if you're not alert and responsible, but I essentially financed my Speedmaster for the cost of a single balance transfer fee. I purchased it with a 0% interest for 1 year offer, paid it down a little bit over the year, then transferred to my other credit card with a 0% on the life of the balance offer.

It's a clever way to do it, but you have to be careful not to miss a payment or it will get really ugly. Otherwise, go with a credit union all the way.
 

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Any advice on financing...
don't. Pay cash. If you cant' pay cash then D-Slim got the good trick. It works great if you got good credit and are on the ball.

DAZ is right. L.A cyle sport has the best prices. The service dept is fine, just make sure that you call them and tell them what you need in advance because chances are they will not have a part in stock. They do a good job though.
 

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Discussion Starter #12
All very valuable info. I was going to go with the transfer gig...

But I found an independant loan agent - that offers auto rates. I am going for a 5% rate... not bad. Lets see what I can do.

Thanks again - only a turkey day or so away from my b-day *bonnie day*

-L
 

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I have to second the credit card suggestion...Thats how I bought mine, I got a great deal on a low interest card, one of those where everything you buy for the first month or so is at a low interest rate for however long it takes to pay it off. I ended up with about half the rate it would have cost me through a traditional loan, plus I own the bike free and clear, title in hand. You have to be careful, though, and treat it like an installment loan. Its tempting to use the card and wind up owing a lot more than you meant to!
 

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Not sure if they offer it where you live, but my State Farm agent offered 5% when I bought my bike.... no one else was close & even my mortgage is not quite that low.
 
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