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Alright I have 5000 dollars for a bike saved i cant get a loan from yamaha, i do have a credit union, I went to it in january trying to get a bike but thats when i needed the whole thing financed but they said they wanted me to pay a little more on my car that i got in august i think. Now i have 5000 grand saved and i think am ready but i just dont want to tell my bank i want motorcycle loan so i wont have to get full coverage thats if they finance me the 4000. I want to tell them i want a personal loan but what is a good purpose for needing one and are personal loans better.
 

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sorry to say, the best way is to get full insurance coverage no matter how much you pay off on it or whatnot.

best to be safe than sorry.
 

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Unless you are buying a beater (under 2k) full coverage is a must. With your 5k, I'd buy a used bike (2-3K) and use the rest on gear and your first years insurance. That way, everything is paid for in cash. Ride it for a year or two and then move up to a shiny new bike.

I'm assuming this is your first bike BTW.
 

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Unless you are buying a beater (under 2k) full coverage is a must. With your 5k, I'd buy a used bike (2-3K) and use the rest on gear and your first years insurance. That way, everything is paid for in cash. Ride it for a year or two and then move up to a shiny new bike.

I'm assuming this is your first bike BTW.
+1!
 

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5K, you could buy a nice used bike and not have to worry about any loan.
 

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Im surprised they won’t give you a loan with that much to put down. But maybe its for the best. Its usually not a good idea to finance a toy unless you can easily afford it.
 

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Im surprised they won’t give you a loan with that much to put down. But maybe its for the best. Its usually not a good idea to finance a toy unless you can easily afford it.

Holy thread revival... :eek:
 

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Well that was a long time ago. Im surprised they didn't give him the bike with no money down back then! He must have had some pretty horrible credit.
 

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Unless you are buying a beater (under 2k) full coverage is a must. With your 5k, I'd buy a used bike (2-3K) and use the rest on gear and your first years insurance. That way, everything is paid for in cash. Ride it for a year or two and then move up to a shiny new bike.

I'm assuming this is your first bike BTW.
Sound advice here ... thread closed
 
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