yamaha financing

[crazy dave]

I was looking for which insurance company to use and was wondering if I financed through yamaha do I have to have full coverage through insurance?

 

[SovietRobot]

You should have full coverage no matter who you finance with.
Otherwise if you wreck it, you'll still be paying for a bike that doesn't exist anymore, or you'll default on the loan which is bad.

 

[crazy dave]

I know I should but I have to take what I could afford right now. Nothings goin to stop me from getting it under any circumstances. Thank you for caring though and being concerened

 

[champion221elite]

Be very careful when financing. Always read the fine print, and be wary of those deals where you pay $69 per month for 36 or 48 months. Lots of folks don't realize the bike won't be paid off at the end of the loan term. In fact, they will often owe at least 2/3 of the loan amount at the end of the term.

Check with your local Credit Union, they will usually offer significantly better interest rates than a conventional bank or Yamaha Credit.

 

[crazy dave]

OK and thank you for the advice

 

[mpb218]

I financed through Yamaha and do not have full coverage. Is it a risk? Hell yeah it is. Is it a toy? Hell yeah it is. I feel like im getting cheated if I pay full coverage. I have full coverage on my car though, that's kinda different.


Edit: I'm not required to have full coverage, my original post sounded like I was cheating the system.

 

[buccs40oz]

just me but i have full coverage on my car (i do still owe) my blazer (paid off) and my bike (still owe) i really don't want to drop full coverage on the blazer you never know when something might happen and you would need it. my buddies wrecked his jeep which was paid off and they got back money after the wreck. i guess it is just personal choice. i do say yes get it on full coverage it's not worth the outcome if you were to get in an accident. as careful as you may be riding there are other people not being careful and you may end up a target and get screwed for life ya know what i mean. good luck what ever you choose

 

[KensFz6]

I went with yamaha's financing at my dealer which is basically a credit card and should be treated as such.

Mine is like 9% with an increase to 15% after a year.
I pay $125 per month even though the payment is only like $45.
I still won't have it payed off in a year but at least I'll have a good start on it before the rate goes up.

As for insurance, be sure to shop around for a company that doesn't charge 1/3 of the cost of the bike every 6 months for full coverage.

I managed to get a decent deal with American Family through Esurance and took Liability, Comprehensive and Uninsured motorist but not collision. The bike is covered unless I hit something at my own fault.

 

[08fz6]

Okay, do not use Yamaha financing unless you plan to have it paid off within a promotion period! The best bet is a credit union. When my dad was still a dealer I got many people approved and they were approved at the high interest rate. I would just shake my head at that time i think high interest was 15.99%..... As far as the insurance, I would do full coverage if you are financing. I financed $3000 on my bike, the loan was against CD's (High Yield Interest) I have. So my interest rate was like 4.5% That is the best thing you can do!

 

[mpb218]

Here is a question to all readers...

The other day I almost got hit by a Paris Hilton look-alike (big sunglasses, screw her). If she hit me, it doesn't matter if I have full or liability. She pays for my bike ( I was at a red light at the time). This is a correct statement, no?

I am just saying, most motorcycle wrecks are the result of the car not paying attention, and they're at fault. I am not saying don't get full coverage, but my bike is paid off, and, honestly, I don't want to pay a ridiculous amount (because of squids) to insure my bike.

 

[OZXJR]

I wouldn't dream of riding without full coverage ,just to damn risky.

 

[08fz6]

it is a tough one. i mean I don't have full coverage but I am only home to ride 4 months in the summer. I also live in the country and 99% of the time i am with my buddy riding and we aren't around very many people. My bike is paid for plus I am young enough they wanted $1200 a year for full coverage. Wasnt worth it.

 

[DefyInertia]

Let me get this straight...

This is your first bike, EVAR

You can't afford to buy it out right, but you're buying brand new

You can barely afford insurnace, so you're gonna try to skimp on coverage

Your questions about FZ6 vs. FZ6r revolve around the cosmetic differences such as the ability to remove stickers on one vs. the other

I'm guessing you won't be paying for the MSF course or buying full gear either?

:spank:

I have a better idea! Get a smaller used bike for your first bike (see my comments in your other thread). Learning to ride a "slow" bike that you can actually afford FAST is a lot more fun and a lot smarter than riding a fast bike SLOW and over-extending your financial situation to boot.

Please feel free to ignore me and don't take offense as I only have your best interest in mind. :thumbup:

Oh yeah, where in NY are you?

it is a tough one. i mean I don't have full coverage but I am only home to ride 4 months in the summer. I also live in the country and 99% of the time i am with my buddy riding and we aren't around very many people. My bike is paid for plus I am young enough they wanted $1200 a year for full coverage. Wasnt worth it.

tough call but makes sense to me

 

[wrightme43]

Let me get this straight...

This is your first bike, EVAR

You can't afford to buy it out right, but you're buying brand new

You can barely afford insurnace, so you're gonna try to skimp on coverage

Your questions about FZ6 vs. FZ6r revolve around the cosmetic differences such as the ability to remove stickers on one vs. the other

I'm guessing you won't be paying for the MSF course or buying full gear either?

:spank:

I have a better idea! Get a smaller used bike for your first bike (see my comments in your other thread). Learning to ride a "slow" bike that you can actually afford FAST is a lot more fun and a lot smarter than riding a fast bike SLOW and over-extending your financial situation to boot.

Please feel free to ignore me and don't take offense as I only have your best interest in mind. :thumbup:

Oh yeah, where in NY are you?



tough call but makes sense to me

LOL Nate this is almost exactly what I said in the other thread.

Seriously man. We are glad you are here. We would be tickled if after a year or so you get a brand new FZ6 or FZ6R.

Right now start off small.

Defy is sharp as a tack man. Check out his past posts, and rep. I am a opinionated wackjob, but some of my ideas work. PM the guys with lots of Rep, the guys that do track days, the guys that race, talk to the guys that are fast (not poser fast but fast because they hit the marks, and know what a bike will do) they will tell you to start small. Learn how to use that machine to make the best out of it, then step up to something with more power. Power is the easy control, just twist and go. The turn and the slow. The entry to carry speed, and be on the throttle safely earlier than the next guy is where the skill is.

Try this site
www.ninja250.org They are not as easy going there though, they get lots and lots of new riders.

 

[dako81]

You're better off starting on something old that you don't owe money on and don't have to worry about crashing.

And for the Yamaha financing, you're better off getting a loan from a bank and walking in with cash or writing a check because the dealer will find sneaky ways to max out your available credit and you'll end up buying a service plan among other things, owing more than what you expected.

If you're going to do their financing, it is a revolving credit account and you don't need full coverage. If you go this route and finance the price of the bike and taxes, etc. be ready to pay between $300 and $400 a month to pay it off in the 24 months of 8.9% interest. If you don't believe me just try it and that's what you'll end up paying to pay it off in 24 months or less.

 

[2-stroke]

Here is a question to all readers...

The other day I almost got hit by a Paris Hilton look-alike (big sunglasses, screw her). If she hit me, it doesn't matter if I have full or liability. She pays for my bike ( I was at a red light at the time). This is a correct statement, no?

I am just saying, most motorcycle wrecks are the result of the car not paying attention, and they're at fault. I am not saying don't get full coverage, but my bike is paid off, and, honestly, I don't want to pay a ridiculous amount (because of squids) to insure my bike.

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.

 

[crazy dave]

I managed to get a decent deal with American Family through Esurance and took Liability, Comprehensive and Uninsured motorist but not collision. The bike is covered unless I hit something at my own fault.

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

 

[crazy dave]

Let me get this straight...

This is your first bike, EVAR

You can't afford to buy it out right, but you're buying brand new

You can barely afford insurnace, so you're gonna try to skimp on coverage

Your questions about FZ6 vs. FZ6r revolve around the cosmetic differences such as the ability to remove stickers on one vs. the other

I'm guessing you won't be paying for the MSF course or buying full gear either?

:spank:

I have a better idea! Get a smaller used bike for your first bike (see my comments in your other thread). Learning to ride a "slow" bike that you can actually afford FAST is a lot more fun and a lot smarter than riding a fast bike SLOW and over-extending your financial situation to boot.

Please feel free to ignore me and don't take offense as I only have your best interest in mind. :thumbup:

Oh yeah, where in NY are you?



tough call but makes sense to me

I am going for my MSF next friday and I already have full gear...as for buying used I will if the dealer I am going to has a used 1. I am going to a certain dealer because I am going with a friends who is trading his 2006 kawasaki ex500 for an r6...so we are going to take 2 bikes off the floor and the dealer has been talking to use for about a month now on working out a discount for taking 2. As for the cosmetic sticker...it was just a question. Im pretty sure im going to get the fz6r anyway. I couldnt really care less about pink flames..ill ride with them/....or just get the black 1..o yea and im in Yonkers

 

[PAJeep]

Im pretty sure im going to get the fz6r anyway. I couldnt really care less about pink flames..ill ride with them/....or just get the black 1..o yea and im in Yonkers

unfortunately your not going to find a used FZ6R.

I'm really surprised at some of these high insurance rates. I guess I am just spoiled paying $280 a year full coverage for a 600cc bike.

 

[n.e.mich]

unfortunately your not going to find a used FZ6R.

I'm really surprised at some of these high insurance rates. I guess I am just spoiled paying $280 a year full coverage for a 600cc bike.

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.