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I would recommend trying your local bank or credit union. If your credit is decent, you'll land a lower rate (typically) than what the dealer will get. This is not always the case, but it is very common.
 

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omg, thats higher than all my credit cards. :eek:
 

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svStunting said:
I just bought my SV for about 15% interest... ouch.
Seriously... you might want to explore other options. Take a trip to the bank or work your way into a credit union for a few months and then refinance. You're getting taken to the cleaners with a rate like that.
 

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I have pretty good credit and my dealer gave me a 7% interest rate and 15% is higher than most of my credit cards too.
 

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I had barely any credit and could only get approved for a $5000 loan and had to pay the rest. But I really wanted this bike, so I just need to pay it off fast.
 

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Read the fine print very carefully and I think you will find that if you are ever
late for one payment, the interest rate will go up to 24% :eek: :eek: :eek: :eek:

My money was tied up so I wanted to use the Suzuki card, after reading the fine print, I said screw it,
took out a loan and I am paying it in full at the end of the month.

Bikes are luxuries, borrowing for a luxury in todays economy is dangerous and leaves you behind the eight ball.

1. Credit Unions
2. Banks
3. Insurance companies ... some here have reported they financed thru State Farm.

Credit cards are very dangerous to your financial health if not used properly.
I know, been there ... done that!
 

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screw borrowing from dealers, hit up your friends and parents.
 
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The dealer 'financing' is actually credit card with a baloon type interest system. Personal loans on bikes are very difficult to get and the interest always sucks. The Credit Unions are usually the best place to get an actual loan on them. Either use a credit union or monies from a home equity loan if possible. The only real exception is Honda which goes through its financial branch just like an automobile.
 

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Don't finance at a dealer unless you have to. You're inviting them to play the interest rate/monthly payment/selling price shell game with you.

Just like with a car - walk into the dealership with your financing in hand. That way you negotiate on level ground, only on the selling price. Once you arrive at an agreeable price, I would definitely invite them to try and beat the financing you already got approved for. If they can, great. If not, you saved yourself a lot of trouble.

As always if the numbers change on the sly right before you sign, walk out, never go back, and tell 10 friends.
 
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Yeah, I'd try to find a cheaper route. If you don't have to have brand new you may consider used. I bought my 03' used (it was a year old at the time) on Craigslist I paid $5000.00.
-Pat
 

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Currently said:
Read the fine print very carefully and I think you will find that if you are ever
late for one payment, the interest rate will go up to 24%   :eek: :eek: :eek: :eek:

My money was tied up so I wanted to use the Suzuki card, after reading the fine print, I said screw it,
took out a loan and I am paying it in full at the end of the  month.

Bikes are luxuries, borrowing for a luxury in todays economy is dangerous and leaves you behind the eight ball.

1. Credit Unions
2.  Banks
3.  Insurance companies ... some here have reported they financed thru State Farm.

Credit cards are very dangerous to your financial health if not used properly.
I know, been there ... done that!
I may be incorrect but I believe federal limit is 21%, so 24% would be impossible.
 

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UACUBiker said:
I may be incorrect but I believe federal limit is 21%, so 24% would be impossible.
Each state I believe has there own laws...... NJ's max is 29.9%.....ask me how I know ;D
 

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when i bought my SV they had a $99/month for 5 year deal....if you only pay the $99 you will get the banana after the 5 years are up. double you payments and you will pay it off considerably early.
 

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svStunting said:
I just bought my SV for about 15% interest... ouch.
yo thats high as hell!!! lol if your still in school, get a school loan!!! Defer it till your out of school ;-) Thats how I funded my SV. But go find a credit union join it, and get a loan to pay off that high interest loan of yours...thats really bad...I don't have a single credit card with anything higher then 11% apr.
 

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Eagle one
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entropysedge said:
you bad, bad boy!!  :eek: are you being evil again, Troy?
LOL....... actually I have never charged 29.9%.......
 

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kevinb120 said:
Personal loans on bikes are very difficult to get and the interest always sucks.  The Credit Unions are usually the best place to get an actual loan on them. 
4.9% on personal loan for my SV...best option for financing if its available. No liens on title too. Handy dandy.
 
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