Age and down payment - Suzuki GSX-R Motorcycle Forums Gixxer.com
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post #1 of 44 (permalink) Old 04-18-2007, 12:37 AM Thread Starter
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Age and down payment

Hey everyone im looking to purchase a 2007 gsxr750 in about 3 months for 20years old and with a down payment of 3500-4000 should i be worried about being able to get financed.
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post #2 of 44 (permalink) Old 04-18-2007, 12:41 AM
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Re: Age and down payment

depends what your credit is like, I am 19 put 500$ down and got approved no problems, no cosigner or nothing
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post #3 of 44 (permalink) Old 04-18-2007, 12:48 AM
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Re: Age and down payment

if you have some kind of credit history, i dont think you should have a problem. might need a cosigner, and get the worst APR. But atleast you get financed.
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post #4 of 44 (permalink) Old 04-18-2007, 12:48 AM
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Re: Age and down payment

do you have any credit at all? usually it is harder to get financed on a toy such as a bike than it is a car. but in your situation, putting that much money down will put the bank in a good situation so it shouldn't be a problem, interest rates are higher on bikes though. you may want to try your local bank or credit union.
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post #5 of 44 (permalink) Old 04-18-2007, 01:17 AM
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Re: Age and down payment

all this is good advice but your gonna want to shop around as well dont settle for th closest dealer you can end up saving alot by making the extra trip to another dealer
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post #6 of 44 (permalink) Old 04-18-2007, 12:19 PM Thread Starter
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Re: Age and down payment

thanks for all the advice and keep it coming
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post #7 of 44 (permalink) Old 04-18-2007, 12:23 PM
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Re: Age and down payment

My brother just got his first bike. he is 22 with only a auto loan on his credit and he got a new Suzuki with 0 down and low payment. i think under 200. just pay cash like the big boys!!!
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post #8 of 44 (permalink) Old 04-18-2007, 12:28 PM
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Re: Age and down payment

is this your first bike?
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post #9 of 44 (permalink) Old 04-18-2007, 12:36 PM
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Re: Age and down payment

Put as much as you possibly can down because you'll have lower monthly payments.

Or you can do what I did, I figured out how much money I needed to save per month so that a year later (this past September) I could by a 2006 750 in full.
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post #10 of 44 (permalink) Old 04-18-2007, 01:05 PM Thread Starter
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Re: Age and down payment

This would be my second street bike i just sold my 2004 gsxr600
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post #11 of 44 (permalink) Old 04-18-2007, 01:12 PM
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Re: Age and down payment

I am 20 and have a truck, quad, bike all financed with no money down and no cosigners on anything. I do not think you would have a problem.
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post #12 of 44 (permalink) Old 04-18-2007, 01:19 PM
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Re: Age and down payment

i am on my 3rd bike on the Suzuki Card and have never put anything down and i believe as long as you don't finance over $8900, your payments are $99/mo @ 12.9%, if you finance $8901 or above it is $149/mo @ same interest...all this does depend on your credit, but as long as it is around 700, you should be fine
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post #13 of 44 (permalink) Old 04-18-2007, 01:19 PM
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Re: Age and down payment

Good idea with the large downpayment, but I still wouldn't recommend financing: if had 3500-4k laying around, I'd pay in full for an older used bike, just to avoid the commitment. If you want the latest and greatest, that's your option, but financing a toy (which you're likely to get overcharged on, anyway) is a bad idea.
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post #14 of 44 (permalink) Old 04-18-2007, 05:25 PM
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Re: Age and down payment

Quote:
Originally Posted by FireGixx600
i am on my 3rd bike on the Suzuki Card and have never put anything down and i believe as long as you don't finance over $8900, your payments are $99/mo @ 12.9%, if you finance $8901 or above it is $149/mo @ same interest...all this does depend on your credit, but as long as it is around 700, you should be fine
God damn you like using that card don't you LOL. How much have you paid in interest alone?
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post #15 of 44 (permalink) Old 04-18-2007, 06:02 PM
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Re: Age and down payment

ok guys..quick questions as im about to buy an 07 600, is this suzuki card hard to get or is this what they use for finacning?

and anyone know the otd price for an 07 600?...hope its under enough so my payments are 99 a month
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post #16 of 44 (permalink) Old 04-18-2007, 06:29 PM
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Re: Age and down payment

Please don't get the card if you do plan on purchasing anything in the future as it is a CREDIT CARD and not a LOAN, so lenders do look at it badly. Try to get financed through a credit union first.
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post #17 of 44 (permalink) Old 04-18-2007, 08:24 PM
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Re: Age and down payment

Don't buy a brand new bike, buy a used 2006 or something older. I bought my 2006 used toward the end of the season with 850 miles and paid a little over $7000 for it. And all of the dealers around my area, both in massachusetts and new hampshire were charging $8799. The lowest I was able to talk any dealer down to was $8400 with a jacket and helmet. And buying used can save you if you go down. Parts will be cheaper for an older bike.
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post #18 of 44 (permalink) Old 04-18-2007, 09:16 PM
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Re: Age and down payment

im 21, 0 down, i bought a used 06 600 with 400 miles on it

my payments are 197 a month for 5 years...
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post #19 of 44 (permalink) Old 04-18-2007, 10:30 PM
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Re: Age and down payment

what are requirments of a cosigner? do you have to be 21 or are there not any requirments except to have credit
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post #20 of 44 (permalink) Old 04-18-2007, 11:48 PM
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Re: Age and down payment

What people need to understand is if you get the suzuki credit card you need to pay it off as quick as possible and not do minimum payments. The finance charges alone will rack up in the long run. So if you take 2-3 years to pay off the bike your looking into paying $2-4,000 in finance charges alone. So unless you have a decent job and put down more $ than the minimum then by all means get the card.
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