Tomorrow I will be going to finance a new sportsbike.

Will have to provide a down payment? Somebody is co-signing for me and there credit is excellent.

I have no problem with a down payment but does it affect monthly payments.?

Any info is appreciated thanks

Well I'm not sure if you'll have to, depends on the credit and what the seller wants.

But if you were to put a down payment, it would affect monthly payments because you'd have a lower overall cost...
Example: 10,000 dollar bike at 12 mo without a down payment would be 10,000/12 per month
10,000 with 2,500 down payment would be 7,500/12 per month.. so basically less per month


Obviously there's a lot more to it, but yea.

It all depends on the seller. Private or professional? You would be better off asking who you are buying from.

I would suggest a down payment. My car was $13,995 before taxes, title, and etc. I put down $5,000 off the bat. I know your payments will be less, but you get the idea. This is money you will have to pay eventually, so get a good chunk out of the way early.

dont buy your bike new, dont buy any vehicle new.

its just a bad idea man, especially for bikes! (e: people are always getting in and out of the bike scene) I got my cbr600rr for half of the msrp, it had 1100 miles, the dude got into biking thinking it would be cool, laid it down in a corner and never picked it up again. so i bought it for 5600 cash brought it home did an oil change and now its just over 20k miles. seriously I bought my last bike new, don't do it.

This post was edited by ToxicInfinity on Jun 5 2011 11:18am