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Discussion Starter #1
who did you go through if you financed your scooter?
If you don't mind me asking, how much did you put down if you had a down payment?
I think I need to start saving and need a general idea of how much. I'm thinking 10-15% down.

thanks
nan
 

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I went through a local bank and put 20% down. I could have gotten the loan with 10% down, but I wanted to reduce my monthly payment. It all depends on your credit rating I think - along with the policies of the lending institution.
 

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If you have an American Express card through Costco, they have a 2.9% offer for new purchases until the balance of the purchase is completely paid. I'm looking at using it myself as I am still Burgerless.
 

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Nancy,

My local bank doesn't finance bikes (nor campers, motorhomes) like it does cars. To purchase a bike thru them you end up taking out a personal loan. I ended up just financing thru the dealer instead. The total on my Burgman was $5966 including TN tax, title, tags, and 4 year extended warranty. I put $1000 down and financed the rest. Never asked them how little I could have put down but am inclined to think 10% would have been an acceptable amount.
 

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Welcome to the BurgmanUSA forums Skipper. Glad to have you join us.
 

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Discussion Starter #6
I wanted to try to stay away from household bank, and that's who took over with our current suzuki payment. and was a nightmare with our truck. My credit union shows they finance however I have yet to be able to get a loan with them. Maybe if I save about 1 or 2 grand I'll get a loan. Or win the lotto soon.

Skipper, thanks for the info however I don't even know what Costco is. :oops:

I have a few more months. just trying to figure out what I need to do.
 

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Nan, I'd suggest you go talk to your Suzuki dealer to see what they have to offer. That would give you something definitive to mull over the winter.
 

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Pinwheel said:
Skipper, thanks for the info however I don't even know what Costco is. :oops:
Costco is a wholesale warehouse like Sam's Wholesale Club.
 

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Pinwheel said:
who did you go through if you financed your scooter?
If you don't mind me asking, how much did you put down if you had a down payment?
I think I need to start saving and need a general idea of how much. I'm thinking 10-15% down.

thanks
nan
The one condition I had for purchasing the Burgman 650 was that I wanted to keep my payments at or near $100/month. Including extended warranty on a new 2004 Burgman 650, I put 40% down (about $3k). $1,200 of that came from having a garage sale that got rid of a lot of stuff I haven't used in years. Another $1k came from selling stuff around the house that I no longer had a use for but sat around collecting dust. I really only came up with $800 out of pocket. Currently, I'm looking at transferring the balance on my loan to one of those 0% APR credit card offers.
 

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Another idea Like Chuck said, figure out how much you want to spend each month then ask your dealer how much you need to put down to reach that payment.
Bottom line however is your credit rating. :wink:
 

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You might check some of the sites like Kelley Blue Book or NADA and play with their Payment Calculator. You can just play with it and plug in different numbers and see the monthly payments for different terms and percentage rates. Here's a link to KBB's calculator: http://www.kbb.com/kb/ki.dll/ke.kb.sp?k ... Insure;slp
I don't know about your Credit Union but mine will loan you the amount you need on a personal loan or up to 100% of the MSRP on a vehicle loan. You might talk to someone in the Loan Dept. for their policies. Credit Unions are usually more flexible than most banks and generally offer better rates.
Don
 

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Discussion Starter #12
billmeek said:
Costco is a wholesale warehouse like Sam's Wholesale Club.
thanks. had no idea. guess i need to drive to houston more.
 

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Discussion Starter #13
Randy said:
Another idea Like Chuck said, figure out how much you want to spend each month then ask your dealer how much you need to put down to reach that payment.
Bottom line however is your credit rating. :wink:
credit rating...well it was good enough to buy a house last month. i hope by march it will still be good enough to buy a new scoot. if not better.


Don--going to talk to CU next Saturday. maybe they can help me figure out what I need to do.

Thanks everyone for your input. Y'all are very helpful.
 

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In that case make a few payments then go to the bank and tell them you want a home improvement loan,
most banks give good rates on those loans and never check .
Besides, parking a Burgman in the garage is a home improvement :lol:
 

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Discussion Starter #15
Randy said:
In that case make a few payments then go to the bank and tell them you want a home improvement loan,
most banks give good rates on those loans and never check .
Besides, parking a Burgman in the garage is a home improvement :lol:
my luck they would actually come out and look. it's a good idea though. has me thinking now. :wink:
 

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No financing for me I paid cash I hate having another payment to remember.
 

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What is this "financing" thing? Is that something like when I bought my first house & had to make monthly payments? It's been so long ago I'm not sure what they called it. I do miss taking the interest off my income taxes but it does make the filing easier.
I understand some people have even bought cars that way. Much easier to keep the old one, put the money in the bank & collect interest. Once you get one car ahead you start saving for the next one. It's much easier to turn down all the extras when you are paying cash instead of "it's ONLY a few more dollars a month".
I think the time I spent working for a finance company scared me off credit for life.
 

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Oddly enough, I lost less money (through Depreciation) buying the Burgman than if I took the same money 2 years ago and put it in the market.

My wife bought that.
 
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