yes i was thinking about financing a 2008 yamaha r6. i am 21 in college and a descent credit history and was kinda curious on what my payments may look like to get it paid off in a descent amount of time. so if anyone either works for yamaha or similiar to my situation please reply thank you in advance
2007-12-16 02:57:45 · 6 answers · asked by FrankyJay 1 in Cars & Transportation ➔ Motorcycles
It doesn't really matter how long Yamaha is willing to finance you for. It's just plain stupid to finance a bike for more than 4 years, and if you don't believe me go do it and find out for yourself I've seen the effects time and time again from some of my friends. But for a 4 year finance of a 2008 R6 your looking at around 270$ a month with nothing down and an additional 1600$ a year for insurance. A much cheaper alternative would be to buy a Triumph Daytona 675 which is in the same class with similar performance. It would still be about 250$ a month but only about 600$ a year for insurance
2007-12-16 09:16:30 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Your credit history is "descent"...? I'm sure you mean decent...;)
What does that mean?
Have you had vehicles financed in your name before? (without cosigner). Have you had credit cards for several years and very few missed payments? Do you have a steady employment history? Do you make enough money to pay your bills, rent AND INSURANCE (which will be insanely high for you on an R6...)?
You can theoretically finance a motorcycle up to 72 months, but that would be a horribly bad thing for you. In a year or two, you'll go tired of that R6 and want to trade up to something bigger.
Unfortunately, because you financed it over such long time (and very little downpayment, I'm sure...), you'll owe more on the R6 than it's worth on trade in (or even retail). So, now you're getting a more expensive bike and trading in a bike with negative equity....it's vicious circle of financially bad decision making.
Ultimately, you need to go to your dealership and fill in a credit application to really find out what your situation is.
2007-12-16 11:21:10 · answer #2 · answered by terje_treff 6 · 0⤊ 0⤋
I half agree with rhand182 as far a actually financing it. If I could go back I would put some money down on mines because the interest sucks especially for Suzuki if you don't pay it off within the five years. I've my 06' GSXR 600 for a year and it looks like I have only paid for it for 5 times(I've paid 12!!!). As far as the price I don't know anyone who rides with me that pays over $180 a month. My cousin 07' Yamaha R6 he pays $99 a month with no money down, My dad has some 06'Yamaha cruiser and he pays $149 a month, and My brother pays $89 a month for his 06' 50th Anniversary Yamaha R6 with no money down. The thing about Yamaha they only give you three years to pay off. Nows the time to buy because alot of dealers are giving deals on un-sold models from last year....that is if you are willing to take one, they usually know off $1000
2007-12-16 19:43:53 · answer #3 · answered by Da'Rel B. 2 · 1⤊ 1⤋
It all depends on your credit and terms of finance...
go to a local Yamaha shop and see what they can do for you......
You do not have to have perfect credit, in fact, they will finance you even if you have shotty credit.....
2007-12-16 14:23:31 · answer #4 · answered by SWT 6 · 0⤊ 0⤋
I may be wrong, but cant your local Yamaha dealer tell you what terms you can get?
2007-12-16 12:11:53 · answer #5 · answered by Wiggysan 7 · 1⤊ 0⤋
don't do it.between going to school and working to
pay it off and insurance you won't have any great
deal of time to enjoy it and learn to ride it. wait
until you finish school and get a real job.
2007-12-16 18:58:44 · answer #6 · answered by gixx 5 · 1⤊ 0⤋