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cra1gy1989
Original Poster
248 posts
13 months
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Right I have a friend who is after a new bike... preferably an r6, what is the best route to go down, get a loan or finance? He doesn't have the cash but is willing to do either one of the two options above, any idea which route would be best? Thanks for your help!
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cra1gy1989
Original Poster
248 posts
13 months
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Sorry about the double post, accident!!
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mrdelmonti
1,226 posts
50 months
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Surely the only way to find that out is talk to a dealer and see what deal they could offer him for the finance and then go to the bank and see what rate they can do a loan at.
The only benefit of a loan (providing it's unsecured) is that he can do what he likes with bike.
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sc0tt
7,418 posts
70 months
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Get a GSXR600
£99 Deposit - 3 years 0%
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StuB
4,424 posts
108 months
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sc0tt said: Get a GSXR600
£99 Deposit - 3 years 0% and it's supposed to be a better stock road bike BTW.
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Rawwr
12,610 posts
103 months
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Yamaha are doing 0% too on most bikes at the moment.
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shanes
819 posts
24 months
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if he cant afford to buy one dont get one , bikes are normal used as toys going to get himself in a s  t load of debt for something he cant use that much due to the weather .tell him to buy a bike he can afford to pay for in cash
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Rawwr
12,610 posts
103 months
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shanes said: tell him to buy a bike he can afford to pay for in cash Rather than use 0% finance? How spasticated is that?
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moanthebairns
4,226 posts
67 months
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credit card!
credit cards are the most amazing thing in the world.
Get a card with 18 months 0 apr (nationwide are doing one just now) buy the bike on it.
total spend divided by 18 = monthly payment.
cut card up. Enjoy the fact you have just been given a loan free of interest.
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lookatmypussy
1,081 posts
34 months
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He'd have to a great credit rating to get a card with a 7 grand limit!
As Rawwwwwrrrrr said - 0% apr - get it bought!
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moanthebairns
4,226 posts
67 months
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true, 4 k is the normal limit
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Robb F
3,836 posts
40 months
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moanthebairns said: credit card!
credit cards are the most amazing thing in the world.
Get a card with 18 months 0 apr (nationwide are doing one just now) buy the bike on it.
total spend divided by 18 = monthly payment.
cut card up. Enjoy the fact you have just been given a loan free of interest. Sounds like a long way of getting a 0% loan?
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TimmyWimmyWoo
3,207 posts
50 months
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I've always financed my bikes and wish I'd gone for a loan instead - it makes it much easier to swap bikes etc.
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lookatmypussy
1,081 posts
34 months
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Timmy - all three of 'em?!
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Carl-H
750 posts
75 months
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I saved for mine. I'd be pretty pissed off watching the money come out my bank every month knowing it won't turn a wheel because of the weather.
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John D.
9,552 posts
78 months
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Carl-H said: I saved for mine. I'd be pretty pissed off watching the money come out my bank every month knowing it won't turn a wheel because of the weather. Where as you've already paid up front for that pleasure 
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BlackPrince
785 posts
38 months
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Being a proper PHer and always paying ca$h for my bikes (or is it financing that makes you a proper PHer...), don't really know a lot about swapping bikes that are financed.
So how does it work when you finance a bike, and then for whatever reason, want to trade it in or sell it and finance a new bike from a different dealer?
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moto_traxport
1,526 posts
90 months
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Rawwr said: shanes said: tell him to buy a bike he can afford to pay for in cash Rather than use 0% finance? How spasticated is that?  Isn't it that attitude that has completely rogered the world? Unless I read it wrong Shanes is suggesting buying a bike you can afford in cash (i.e £2k for instance) rather than financing £7.5k which is discounted by 7% already to give you the 0% finance deal (reflected in the monumental depreciation of the initial months of owning something new) and lastly and not leasly involves commiting you to spending money you haven't yet earned.I'm just thinking like................. 
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lawrence567
7,507 posts
59 months
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sc0tt said: Get a GSXR600
£99 Deposit - 3 years 0% I hate you for posting that deal, as if trying to stop myself buying a bike is hard enough already!
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craigthecoupe
114 posts
73 months
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christ sakes, we don't all wrap our bikes up when it gets a bit wet out. i borrowed 2k to buy my first bike (zx6r) and have used it daily since march. i couldn't afford the cash, but fuel+insurance costs me the same as the train for my commute, so the bike costs me £100 per month for just under two years, then it's mine. would i ever buy a bike for 7k? not in the near future. whats it going to do that a 2k bike wont? biking is a fun persuit that doesn't make sense, so do whatever makes you happy.
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