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Hey guys. I'm taking the plunge and purchasing a brand new 04 sv650 today or tomorrow, and I've got the insurance thing worked out, but the loan process still kind of confuses me and I was hoping maybe one of you might be able to clear some of it up for me.

This will be my first major purchase of any kind with a loan. I'm 22 and I'll be taking out a 36 month term loan from USAA. I couldn't find anywhere cheaper than 7.49% apr...it seems to be the going rate. As they tell me MCs are not a necessity so the interest rates stay a little above average. But I dont have much of a problem with that anyway. I am just curious as to what I need to expect when I go into the dealership. The bike is selling for $4,499 retail and I parused KBB for retail value and it ended up a like $100 less. Should I just go purchase this off the bat or haggle the dealer for cheaper? $4499 seems like a good deal for an '04, but then again this is my first time. And for that matter this is the only dealership in town that has any SVs still left, so I was rather surprised to see them selling 04s.

Anyway, can anyone offer up some advice on this one? I'd greatly appreciate it.
 

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It never hurts to try and haggle, I'm sure you could knock it down 500 easy....
 

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Under 5k for a new SV is good.

For the loans, I have 4.9% on my bike, but it is a signature loan (no collateral). It requires very good credit history and some quality income if you want to purchase the whole thing with a signature loan. Plus I have the title in hand with no liens on it by using a signature loan rather than a motorcycle specefic loan.
 

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Remember that the KBB price is used, not new.

You should always be able to knock the price down...tell them if they don't, you'll go buy an '05 for the same price somewhere else and start walking for the door.

Just make sure you walk in with check in hand or tell them financing is already approved and you want the bike now. If you wait a week, it may be likely to get more $$$ off being the end of the month.

Good luck!
 

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is it a brand new leftover bike or a used bike? KBB is for used, not new.

if its brand new, that sounds like a helluva deal. snatch it up.

if its used, try to haggle them down $500 or so...you may get lucky. go in there with a printed copy of the KBB, but dont pull it out unless they absolutely dont budge on the price....think of it as your secret weapon ;D
 
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