yamaha financing

[PAJeep]

Mine is around the same. Well, I pay an extra $26.00 a month on my insurance during the riding months.
But I insure a motorcycle, car, truck, camper, house, and life insurance through State Farm.

Same deal here. My opinion State Farm is the only way to go. I went out and got some quotes from Progressive and Geico to name a few and all were over a grand a year for full coverage and some double that. I'll stick with State Farm, which only cares about the cc's of the bike by the way. I would stay far away from any Yamaha programs.

 

[n.e.mich]

Same deal here. My opinion State Farm is the only way to go. I went out and got some quotes from Progressive and Geico to name a few and all were over a grand a year for full coverage and some double that. I'll stick with State Farm, which only cares about the cc's of the bike by the way. I would stay far away from any Yamaha programs.

I couldn't agree more, I'm lucky enough to have paid cash for mine.
I'm sure there are a lot of people financing through the dealerships, but I would find any other way.........through a credit union, bank, etc.
The manufacturer financing interest rates are sickening. End up paying for your toy 2-3 times over.

 

[skyjake]

I got a quote from esurance on an r6 and the wanted 13,xxx a year...lol...i dunno wut there smokin...markel american wanted 31,132...n yes that is 30,000 not a typo

Are you kidding me???

I'm 99.999% sure that any bank loaning you money for a bike will not only require you to have full coverage but will tell you the minimum limits you must have. Not unless you are doing an unsecured loan and that bank knows nothing about the bike. The bank will want to be listed on your policy and require proof of insurance. Is there ways around this? Of course. However, that would be totally unethical and you could lose a ton of money in the event you became liable for a loss resulting from your negligence.

 

[Hellgate]

1) Buy a good used bike, save 30% to 50%, you will drop it, so drop a used one and not a new one.

2) Buy full coverage insurance. If "Paris" totals your bike and injures you how do you know she has insurance? about 25% of drivers do not.

If you have full coverage, comp and collusion you will not need uninsured motorist. If you have health insurance you will not not need uninsured motorist injury coverage.

If you are injured without ins your bills can be HUGE, tens of thousands.

3) If you need a loan join a credit union, you will save several percentage points and get a longer loan period vs. what Yamaha's "bait" will give you.

 

[dako81]

Not in Michigan, we are a no fault state. For example my wife got rear ended with out collision insurance she only got money for a deductible $500. I don't think this is the it is suppose to work but the insurance companies have set themselves up to make it work this way.

Well, yes MI is no fault. So it's you pay for what happens to your stuff, unless someone hits your car that is parked or if someone runs their car into your house, etc. The $500 is a mini-tort that has came around recently so that if someone hits you and is at fault you can get a maximum of $500 from their insurance company.

I wish that MI was not a no-fault state, but then you would really have to rely on the police report and what happens in court, which could end up costing more money than if you just had to pay to fix your car on your own.

Are you kidding me???

I'm 99.999% sure that any bank loaning you money for a bike will not only require you to have full coverage but will tell you the minimum limits you must have. Not unless you are doing an unsecured loan and that bank knows nothing about the bike. The bank will want to be listed on your policy and require proof of insurance. Is there ways around this? Of course. However, that would be totally unethical and you could lose a ton of money in the event you became liable for a loss resulting from your negligence.

Yamaha's financing is a credit line, not a vehicle loan. They do place a lein on the title to your bike, but they do not require full coverage insurance, only theft insurance is what is requried if I remember correctly.

 

[dako81]

Also, if you're 20 and don't have a steady job or income you're gonna need a co-signer.

And, I just wanted to say that I've been where you're at, 2 years ago. I'm 20 now, and if I could do it over again I would have gotten another used bike instead of buying brand new.

 

[DefyInertia]

New bikes suck until they are broken in anyway...used FTMFW!!!