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-   BMW S1000RR General Discussion (http://www.s1000rrforum.com/forum/bmw-s1000rr-general-discussion/)
-   -   Financing Help (http://www.s1000rrforum.com/forum/bmw-s1000rr-general-discussion/69210-financing-help.html)

SOFTBALLMADNESS 02-26-2014 01:30 PM

Quote:

Originally Posted by S1000MAN (Post 671930)
I was in the same boat last year

I was looking for a leftover 2012 but ended up getting a brand-new 2013 for a very good interest rate from BMW financing 4.99

good luck

If you don't mind me asking, What was your OTD price? Any miles on your bike at all?


Thanks

sro 02-26-2014 02:37 PM

Quote:

Originally Posted by SOFTBALLMADNESS (Post 671962)
If you don't mind me asking, What was your OTD price? Any miles on your bike at all?





Thanks


Check Max BMW. I hear that have great deals. They also deliver the bike.

Stang10189 02-26-2014 02:52 PM

Im in the group that this is not a bike for first time riders. You need something more forgiving, you will make many rookie mistakes and this bike will make u pay for them even with all the safety additions. Its is only my opinion and its your money and more importantly your LIFE.

jmatta33 02-26-2014 03:10 PM

you really need to consider the total cost of the loan vice your OTD price. sure you can get a bike for 10k OTD but if you finance it at a high rate and the total cost of the loan over the period of time it is financed may cost you A LOT more than that. so if you can get a new bike with lower interest rate AND a full warranty, for maybe a little bit more overall, why not get the new bike? interest rates, months financed, and total cost of the loan are all things to be considered. but to answer your original question, im sure you will have no problem getting financed, you just need to do the math and figure out which bike is the most cost effective purchase. dont forget about insurance either, that sometimes cost as much or more than your monthly payment depending on age and driving history... any how, good luck with your purchase!


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jmatta33 02-26-2014 03:16 PM

Quote:

Originally Posted by Stang10189 (Post 672058)
Im in the group that this is not a bike for first time riders. You need something more forgiving, you will make many rookie mistakes and this bike will make u pay for them even with all the safety additions. Its is only my opinion and its your money and more importantly your LIFE.


im going to have to disagree. my first bike was an R6. zero safety features what-so-ever, and i low sided the second day on it. since then, another R6, an R1, a Ducati 1198S, and now an HP4. ANY bike will make you pay for your mistake and the s1000rr is 10 safer than any of my previous jap bikes. wheelie control, abs, traction contol and selectable riding modes make these bikes easy to ride even for beginners. put the bike in rain mode and take an MSF basic riding course and whatever else they offer until you get comfortable and you will be fine.


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Ali 02-26-2014 03:50 PM

Its true all bikes require attention and common sense but a 600 has half of the torque of a 1000cc bike. It is less intimidating to learn on a 250 or 600 the fundamentals of riding . I honestly recommend 600 for the first year. If you buy it used then you would not lose much when you sell it. You can start on a 1000 and take your time to learn but you can get there faster on a 600.

mark419ny 02-26-2014 04:01 PM

get the bike the buy a 600 first is garbage. my first bike was in 07 it was an 07 zx10r. it only goes as fast as you make it go with you right wrist. buying a 600 first and moving up is a waste of money.

to answer your first question if you have a credit union and they wont do 5k take out a 10k loan. save the 5k as your interest rate will be really low anyway. so if your payment on 10k is 250 a month the 5k will last almost 2 years while you put away the 200 a month that you wanted to pay in the first place. understand? at 1 or 2 % the interest is basically nothing so you arent losing anything. worst case buy it on your credit card with a balance transfer check. again on 5k your min payment would be about 50 bucks a month. so for 12 months you will have 0 % on the balance of 5000 . dont miss payments dont pay the minimum transfer the balance after a year. be smart. free money is out there.

Ali 02-26-2014 05:45 PM

Everybody has an opinion and its good to see what opinion suits you best. 600 as first bike is not garbage and its very logical option. I started on a 1000cc and I think it was a mistake. (my personal opinion). If you attend Jason Pridmore school he tells you to learn fundamentals on a SV650 whether on the street or track. Bottom line there is no absolute right or wrong, just different opinions and philosophies.

Credit union will do 5k loans on bikes. Just call your bank and see what they tell you.

fast4d 02-26-2014 05:54 PM

Quote:

Originally Posted by jmatta33 (Post 672082)
im going to have to disagree. my first bike was an R6. zero safety features what-so-ever, and i low sided the second day on it. since then, another R6, an R1, a Ducati 1198S, and now an HP4. ANY bike will make you pay for your mistake and the s1000rr is 10 safer than any of my previous jap bikes. wheelie control, abs, traction contol and selectable riding modes make these bikes easy to ride even for beginners. put the bike in rain mode and take an MSF basic riding course and whatever else they offer until you get comfortable and you will be fine.


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you think traction control will save you from a low side?:rolleyes:

also, being a noob you will end up hitting something, running off the road when you can't make a turn due to too much speed or laying it down just because.

OK. enough of making some sense on this forum.

S1000MAN 02-26-2014 06:57 PM

Quote:

Originally Posted by SOFTBALLMADNESS (Post 671962)
If you don't mind me asking, What was your OTD price? Any miles on your bike at all?


Thanks

0 miles. I think I paid 15,750 and they delivered it 85 miles to my house

But I paid taxes in my home state so add about $945 to that. No other fees were added to that initial 15,750 as I recall

Thr term OTD can be misleading if you buy out of state due up paying sales tax later when you get it license

My payment is 286 a month at 4.99 percent. Insurance is about 39 a month

Its great getting a new bike but realize up front it'll be you taking that huge drprecition hit when you take it off the lot

my original plan of getting a barely used 2012 or 13 would have been a lower price but at a higher interest rate than Bmw offered me

So all in all I am glad I went with a new bike

you only live once!! And it's only money, right ? Lol

Good luck with whatever you decide


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