Kawasaki vs Personal credit cards

[Porkchop17]

Ok, guys and gals... I'm new to this forum so go easy on me.

I've been riding for a year now, but havn't owned due to the whole parents/finances thing. Im tired of just riding my friend's around the neighborhood and then getting left behind when they want to go on trips, so I making the jump. I've got 2 options here to choose and was wondering what you all thought was best. Buying outright is out of the question as I'm still a Junior in college, so I will have to finance.

Option 1- A dealer in northern Ohio about 2 hours away has a left over new 2007 Ninja ZX6R in Silver for $7200. My thought is to talk them down to 7 flat, have a grand down payment, and then finanace the $6,XXX after t/t/t. A brand new bike financed for six something isnt too bad with Kawi's payment options on the Kawasaki Card.

Option 2- A dealer on the OH/PA border specailizes in used bikes with minor cosmetic problems. They have a 2007 Monster Energy Ninja ZX6R(black) for $5,199 that has very slight rash on the right side, almost perfect. Could be easily fixed with touch up paint. Thay also have an 07 Daytona 675 and an 06 Special Edition 636 for around the same price range. This company only accepts cash and credit cards.

What do you think?? I mean the one bike is brand new and is on sale, but the other is super low miles with light scrapes, and way cheaper.... Is there anything wrong with using a personal credit card IYO???? I mean it has a way lower minimum payment so if i get in a pinch with an unexpected bill one month. Pour it on people!!!

[adcoleman]

Use a credit card if you can find a credit card that has a 0% APR on purchases for 12 months, then at the end of 12 months if you still have a balance find another credit card that has a 0% APR balance transfer for 12 months. I know that Discover has them. I just bought my bike a few weeks ago did the Kawi card thing and then immediately got a Discover card and transfered the balance at 0% for a year. In a year if I still have a balance I will transfer it to another card with 0% on balance transfers. Now this all assumes that you have good credit, my wife and I both have credit scores over 750 so it makes it easier for us to do this.

[messer00]

Use a credit card if you can find a credit card that has a 0% APR on purchases for 12 months, then at the end of 12 months if you still have a balance find another credit card that has a 0% APR balance transfer for 12 months. I know that Discover has them. I just bought my bike a few weeks ago did the Kawi card thing and then immediately got a Discover card and transfered the balance at 0% for a year. In a year if I still have a balance I will transfer it to another card with 0% on balance transfers. Now this all assumes that you have good credit, my wife and I both have credit scores over 750 so it makes it easier for us to do this.

That sounds like a good idea... I may have to do that myself !!!

As for which bike to get (new or used)... Tough call. I've always preferred to buy new, but the 636 is a sweet bike and would be hard to pass on.

[Porkchop17]

Yea I like the 636s alot. And it's the Special Edition Titanium with maroon tribal graffix and maroon rims. The only problem is the rash is a little more evident with the tribal graffix and from the pics there may be a small ding in the edge of the tail. It is cheaper though... in the mid 4's!! And who cares.. its my first bike, i'd love it to hell!! I still like the all blacked out Monster Energy 07' though...

[NinjaKawa]

go with what ever one you can get that if something happens with money or something you cant get screwed.

[RichLockyer]

Go to a credit union and get "cash"
Credit cards, no matter WHAT interest rate, unless you are 1000% responsible and on time, are absolutely the WORST way to buy a vehicle.

A credit union can write you a secured loan for 7-9%, and that's a guaranteed rate for the life of the loan.
Put it on a CC, and if it's a "12 months same as cash"... that's great... but of you don't pay it off in 12 months, then on 12 months and 1-day, 12 months worth of interest is added to the account.
Maybe it's a 6% rate... but make ONE late payment and it'll jump to 25%.

It's pretty hard to predict the future, and I prefer to stack the odds in my favor by locking in a REASONABLE interest rate that isn't going to triple on me if I end up having financial problems down the road and miss a payment.

[Ituen]

Here's Option 3- I know you're not going to like Option 3, but you can thank me later. Stay away from your credit cards! College is expensive. (Don't even think about a new bike until you figured out how to pay for college). Start saving every penny and dime you have. (If you find a penny on the sidewalk, pick it up. When you go out to eat, order from the dollar menu, etc. You're saving for a bike). Find a nice, decent first bike. Dealers are always asking too much. Try craigslist or eBay and buy it outright. Look for something under a $1000. You don't need the latest and greatest ZX6R right now. Learn how to ride it and when you can afford it, buy a new ZX6R. Don't forget motorcycle insurance too.

[kbroderick]

I'm with Ituen. As a new rider myself, I find the idea of financing a first bike to be absolutely insane (IMO). The insurance differences between full cover and liability (with UMPI/UMPD) coverage on my Ninjette were substantial (i.e. $77/year versus $500+/year), and I'm 28 with a clean driving record. That alone, IMO, is a good reason to save up until you can buy cash; those differences are only going to increase if you actually need to use the insurance. What if you started making "payments" to yourself and put them in a high-interest savings account (I use FNBODirect.com, but ING and others also have them)...would you then be in a position to buy a bike outright a few months down the road?

Also, I'd be really careful about using credit cards for planned purchases. They can be a helpful tool if you pay them off every month, and they're great if you're in a real pinch, but it's very easy to get stuck between a rock and a hard place if things don't go as planned (e.g. you get laid off or a job you were expecting doesn't materialize, especially if an unexpected expense, like mandatory transportation repairs so you can get places, comes up at the same time). I basically lived off my credit cards for a month or two after graduating from college, while I was looking for a job (no other realistic options), and it took me about four and a half years to recover from that (i.e. to pay the cards off). That's without any major purchases (of the magnitude of a ZX6R), mostly stuff like groceries and car parts so I could get to work once I had a job.

[Porkchop17]

Thanks guys, it's nice to have a voice of "reason" somewhere. I mean I swear I get so caught up in what my friends are telling me, and what I see on TV and Youtube, that I actually believe that I can do some of this stuff without any problem or consequence.

I mean Option 3 does kind of suck because I would really like a bike before the end of riding weather here in ohio, but I guess I could wait a littttle while longer... *sigh* And I know prices are cheaper when theres 2 feet of snow on the ground in the middle of january...

Honestly college is paid for through an ING fund and I'm pretty much covered, as long as I dont go to be a doctor... and I dont see that happening. Even if I go for my masters I'm still pretty much covered. Maybe except for the last quarter or so. And btw... I do order from the dollar menu.

Now if I really save up once I get back to work (on vaca), these bikes will be gone for sure, and even then I still wouldnt hav enough to buy them outright. Its just so hard to pass up this candy and take some of the older stuff...

[NinjaKawa]

how much would a new zx6r be out the door, with tax, title and such?

[littleguy88]

Here's Option 3- I know you're not going to like Option 3, but you can thank me later. Stay away from your credit cards! College is expensive. (Don't even think about a new bike until you figured out how to pay for college). Start saving every penny and dime you have. (If you find a penny on the sidewalk, pick it up. When you go out to eat, order from the dollar menu, etc. You're saving for a bike). Find a nice, decent first bike. Dealers are always asking too much. Try craigslist or eBay and buy it outright. Look for something under a $1000. You don't need the latest and greatest ZX6R right now. Learn how to ride it and when you can afford it, buy a new ZX6R. Don't forget motorcycle insurance too.

now you tell me 2 motorcycles later

[littleguy88]

Thanks guys, it's nice to have a voice of "reason" somewhere. I mean I swear I get so caught up in what my friends are telling me, and what I see on TV and Youtube, that I actually believe that I can do some of this stuff without any problem or consequence.

I mean Option 3 does kind of suck because I would really like a bike before the end of riding weather here in ohio, but I guess I could wait a littttle while longer... *sigh* And I know prices are cheaper when theres 2 feet of snow on the ground in the middle of january...

Honestly college is paid for through an ING fund and I'm pretty much covered, as long as I dont go to be a doctor... and I dont see that happening. Even if I go for my masters I'm still pretty much covered. Maybe except for the last quarter or so. And btw... I do order from the dollar menu.

Now if I really save up once I get back to work (on vaca), these bikes will be gone for sure, and even then I still wouldnt hav enough to buy them outright. Its just so hard to pass up this candy and take some of the older stuff...

definately check your insurance before you decide on what bike you want. it's kind of depressing when you base what bike you can get on insurance and not price but it's reality. also if you put it on a credit card you only need to put liability insurance on it, check the interest rate on the credit card as well, if you are going to make minimum payments it will kick you in the wallet over a long period of time. as for winter i ride my 636 through winter, all the time in December and whenever it is safe to ride in January and February, but really you can ride all year around.

[ervins]

Ok, guys and gals... I'm new to this forum so go easy on me.

I've been riding for a year now, but havn't owned due to the whole parents/finances thing. Im tired of just riding my friend's around the neighborhood and then getting left behind when they want to go on trips, so I making the jump. I've got 2 options here to choose and was wondering what you all thought was best. Buying outright is out of the question as I'm still a Junior in college, so I will have to finance.

Option 1- A dealer in northern Ohio about 2 hours away has a left over new 2007 Ninja ZX6R in Silver for $7200. My thought is to talk them down to 7 flat, have a grand down payment, and then finanace the $6,XXX after t/t/t. A brand new bike financed for six something isnt too bad with Kawi's payment options on the Kawasaki Card.

Option 2- A dealer on the OH/PA border specailizes in used bikes with minor cosmetic problems. They have a 2007 Monster Energy Ninja ZX6R(black) for $5,199 that has very slight rash on the right side, almost perfect. Could be easily fixed with touch up paint. Thay also have an 07 Daytona 675 and an 06 Special Edition 636 for around the same price range. This company only accepts cash and credit cards.

What do you think?? I mean the one bike is brand new and is on sale, but the other is super low miles with light scrapes, and way cheaper.... Is there anything wrong with using a personal credit card IYO???? I mean it has a way lower minimum payment so if i get in a pinch with an unexpected bill one month. Pour it on people!!!

If the bike is damaged forget financing it...That is not worth your time since you do not know the history of the bike aside from what the dealer says...If you do finance, get new. The $7200 for left over 6R is cheap.

[polizei]

I wouldn't do option 2....sounds like a shady dealer to me trying to sell used bikes that aren't in good condition. Buy them wrecked, fix them cheap, and re-sell them for way more.

Anyway, I do agree with option 3. Save up, buy it in cash or get a bank loan. Save until prices go down, honestly the season (to me at least) is going to be over in Ohio within the next month or two - not worth it!

Wait and I feel you'll be a LOT happier.

-Cody

[bennice]

Option 1 seems like the best deal to me, but I agree with polizei on waiting it out a bit longer. You can almost always get a better deal after the season..especially this year since prices have been kind of crazy.

You can buy a bike on a regular CC, but it doesn't make sense if the rate is even average. It's got to have a LOW APR in order to be considered good. But on the bright side, at least you'll have a title in case bad things happen financially and you need to sell quickly.

The Kawi card is only a good thing if you pay it off in very short order, and never EVER make a late payment. The teaser rates can be very competitive, but their minimum payments are so low you'll not make any headway if you're not paying well above that amount.

[djbee73]

you know i started out buying the latest greatest sportbikes,trading every 6 months because a friend got a better, (heaven forbid) faster bike. well that was years ago (99' zx-9) started a family, my riding buds started family's, most all sold and stop riding, me i bought a old 900 ninja for $800 fixed up as money would come(3 kids not very much) but hey i was riding. it wasn't untill last year i bought a zx-11 as a upgrade and it's a 90'. i still have the 900 and ride it all the time. Some of my best memorys are on it. SO DON'T COUNT THE OLD STUFF OUT!!!!

[NinjaKawa]

If the bike is damaged forget financing it...That is not worth your time since you do not know the history of the bike aside from what the dealer says...If you do finance, get new. The $7200 for left over 6R is cheap.

ah i forgot about this.. my mother bought my brother a used Acura RSX-Type S from a Rick Case dealer the car was beautiful and didnt seem like it could of ever have been damaged. the car was going back and forth to the dealer for free repairs and they saw the front axel was broke and didnt do **** about it. later when we found out it had been totaled before hand. and they said they never knew, which was bull**** because they wouldnt give paper work on what was done to the car.. make a story short, we brought the car back luckly them we did sue, got the money back and they paid off the car so that jumped up the our credit.

[ervins]

ah i forgot about this.. my mother bought my brother a used Acura RSX-Type S from a Rick Case dealer the car was beautiful and didnt seem like it could of ever have been damaged. the car was going back and forth to the dealer for free repairs and they saw the front axel was broke and didnt do **** about it. later when we found out it had been totaled before hand. and they said they never knew, which was bull**** because they wouldnt give paper work on what was done to the car.. make a story short, we brought the car back luckly them we did sue, got the money back and they paid off the car so that jumped up the our credit.

Anyone who finances a bike with damage is stupid...I will say it. Unless that bike will give you an ROI it not worth the PIA.

[NinjaKawa]

whats an ROI

[MaxB]

Rockets
Oranges
IceCream