buying a new bike

[pt]

I know, i know it's heresy. Am open to good suggestions of awesome second hand buys though?

But mainly a question of finance really. Anyone here in this dirty business? Looking for opinions/ideas/options on buying a new bike with finance. Have heard all about this Gap cover thing where you get a replacement bike in the first 2 years. But it seems as though it may be hard to organise outside of official dealership finance. Any experiences?

And to avoid this whole shitfight completely, has anyone got any recommendations of decent second hand buys? Specific models or friends bikes they want to flog cheap? Must be late model, 2005 onwards, preferably yam or suzuki. Was looking at fz6s but also at dr650s to motard. Completely open to suggestions, just need a friggen ride!!


Oh and PS i'm 21 so anything like a 1000cc sportsbike is a mint to insure comprehensively even without any accidents and a few years riding. But i still could be tempted[}:)]

[lurch]

Gap cover won't get you a new bike, it only covers the difference between what your insurance company coughs up and what is left owing on your loan. Usually the only ones that offer it are the finance companies that dealers and the like use.

Definitely shop around for finance, dealers and banks will slug you upwards of 12% interest. Do some leg work, see a finance broker etc - be surprised if you can't get close to 10% without much effort. Or knuckle down and pay cash.

Should be able to find a good SV650, FZ6 etc secondhand for cheap. Just bought my mrs a new (08 model) ER6N for $8k on the road. Its a piece of piss to ride but can't say how it compares to FZ6 and the like. It was only about $300 for comp insurance as a limited use ride as well (28 yo rider)

[Fight_fan]

Im paying around 9% interest on a 10K personal loan I got 2years ago to get my bike.
Not too bad really! It was through IMB building society! Ur right about the 1000cc thing tho... My 1100 is as expensive as my car to rego n insurance is impossible at the moment (21) unless im willing to shelf out around 3-4K a year!

[pt]

quote:Originally posted by lurch

Gap cover won't get you a new bike, it only covers the difference between what your insurance company coughs up and what is left owing on your loan. Usually the only ones that offer it are the finance companies that dealers and the like use.

Definitely shop around for finance, dealers and banks will slug you upwards of 12% interest. Do some leg work, see a finance broker etc - be surprised if you can't get close to 10% without much effort. Or knuckle down and pay cash.

Should be able to find a good SV650, FZ6 etc secondhand for cheap. Just bought my mrs a new (08 model) ER6N for $8k on the road. Its a piece of piss to ride but can't say how it compares to FZ6 and the like. It was only about $300 for comp insurance as a limited use ride as well (28 yo rider)


Ah right. Some of them specifically state that you get a replacement bike and others say gap cover. The bit i dont get is, if you replace the bike, i guess you just keep paying off your loan and your next insurance premium will skyrocket. Is that the general gist?

Wouldn't mind second hand but FZ6s seems to be thin on the ground. Only interested in late model so that kinda limits me.


Anyone got hot tips on models that are excellent second hand buys? Like one specific gsxr model that is a stand out from the rest etc etc?

[-Dex-]

I've got an awesome GSXR600 that you can have for $4000. It has a sweet paint job! :D

[OZ750L]

Check with Shannon's & insuremyride for insurance costs first and ask about limited and extreme limited use if you only ride once a week. If more then they won't do it.

[pt]

quote:Originally posted by -Dex-

I've got an awesome GSXR600 that you can have for $4000. It has a sweet paint job! :D


I'll take it! Got any pics[:p]

[Jockney Rebel]

pt 675 street triple R mate

[pt]

quote:Originally posted by Jockney Rebel

pt 675 street triple R mate


i'm listening....Know of any deals? Otherwise they are a bit pricey for my measly budget...... Although have you test ridden one? Are they worth the extra coin?

[rod185651]

My mate just bought a Daytona 675 and it's pretty outfuckinststanding. Pretty sure they are the cheapest 600s on the road at the moment also. If you are after second hand I think you can pick up a 2006 - 2007 model from around 9k to 11k?

[pt]

Ok so had a few test rides, xj6n, drz400sm, GSR600 and street triple r.

XJ6n sorry this is a joke. Engine might as well have been in a scooter, suspension was poor at best and brakes were less than confidence inspiring.
drz400 was a fucking hoot to ride (had a pipe and filter job) but you couldnt ride more than 100 kms without getting blown away or your arse dropping off. And of course was lacking power.
GSR was pleasantly surprising. Whoever did the retuning is either bad at their job or very smart. Power all above 9 grand still. Suspension was adequate but little to no adjustment makes me worry. Brakes were OK, nothing dramatic but not terrible. Ergos quite nice, looked ok but hated the indicator shrouds in the tank. And they dont come in black!
Street triple R was very nice to ride. Nice engine, much more torque/power(dont crucify me for using the wrong words) down low but still revved out nicely.Ergos were excellent. Front brakes were unreal, suspension fullly adjustable which i was almost tempted to play with on the test ride but didnt. Rear was too firm on the test bike. But bearable. Nice styling too.

Now only problem is the street triple r is 15500 on road which is about 3 grand more than the fz6 (which i was interested in) and the gsr. other issue is how can you buy a bike if nowhere has one to test ride? dont know how they expect to sell any?

other issue is i can get a late model 600 second hand only just run in for the same price as these lesser machines. My mind is kinda made up for me now! So looking for specific models

2003-2004 zx6 (636)
or
2006-2007 r6

Now all i have to do is find finance. Does anyone know a finance broker? The big banks suck, i have access to a few credit unions/union banks which are a little cheaper, but i have heard maybe a finance broker would do a better deal. I'm very wary though as they sound like dodgy used car dealers.... And financing a bike is a PITA. Car loans don't cover bikes for some reason....?

[OZ750L]

All a finance broker does is find you the deals. They receive their money from the financial institution they hook you up with. Basically, they do the leg work and present you with the best options based on what info you give them.

[pt]

Fair enough, i'll keep my money away from them then. The power of the interwebs is mine!

[EFE 1230]

Don't get sucked in with the new is better bullshit you can find killer deals on any 10 y/o sportsbike.

Buy something you can own outright then ride it, thrash it, learn to do burnouts, do track days, fighter it and when you break it just go down the wreckers or hit egay to fix it.

A 10k budget will finance a very trick "obsolete" sportsbike fighter build up, the 3.5k SRAD 750 for sale on here atm would be a good starting point, cheap, heaps of parts at wreckers for any mishaps and lot's of stuff from the later gixxers will fit if you want to upgrade it.

[pt]

quote:Originally posted by EFE 1230

Don't get sucked in with the new is better bullshit you can find killer deals on any 10 y/o sportsbike.

Buy something you can own outright then ride it, thrash it, learn to do burnouts, do track days, fighter it and when you break it just go down the wreckers or hit egay to fix it.

A 10k budget will finance a very trick "obsolete" sportsbike fighter build up, the 3.5k SRAD 750 for sale on here atm would be a good starting point, cheap, heaps of parts at wreckers for any mishaps and lot's of stuff from the later gixxers will fit if you want to upgrade it.




My last bike was a POS SRAD! But i saw that already. Tempting though!

[OZ750L]

PT, I think you misunderstood a bit. You don't pay a broker. The banks do.

[pt]

quote:Originally posted by OZ750L

PT, I think you misunderstood a bit. You don't pay a broker. The banks do.


i know, i got it. Just figured if they arent doing anything i can't do then i might as well stay away. They might be tempted to feed me a "good" loan because the comission is higher too...

[Jay_G]

from my understanding there is meant to be an industry standard as to how much a broker gets payed by a bank so as not to sway them towards the biggest spender (banks)

[Shadowzone]

Dude if you look around Yamaha Motor Finance is offering 4.99% fixed for the term of the loan as the interest rate. Be careful which dealer you use as they can fuck with the fees and some of them go directly to them so they may decide to stitch you with a $1k intro fee which is cashola directly to their back pocket and you pay for it. A reputable dealer will look for repeat business instead of a quick stitch up and so listen carefully and read all the fees before you sign. Oh and YMF will finance pretty much anything new too. Might be worth a look.

[yoda]

dude, id go with what efe said.. A bike is dear enough, let alone paying it off still if you bin it.
You'll pick up a decent sports 600 for as low as 5-6000, then you own it and can thrash the shit out of it without worrying too much.

BTW, shannons wont insure anyone under 25.

[pt]

quote:Originally posted by Shadowzone



Dude if you look around Yamaha Motor Finance is offering 4.99% fixed for the term of the loan as the interest rate. Be careful which dealer you use as they can fuck with the fees and some of them go directly to them so they may decide to stitch you with a $1k intro fee which is cashola directly to their back pocket and you pay for it. A reputable dealer will look for repeat business instead of a quick stitch up and so listen carefully and read all the fees before you sign. Oh and YMF will finance pretty much anything new too. Might be worth a look.




yeah saw that, but as far as the dealer said it ends on the 24th august. And if they were lying then they are the only dealer around and theres no way i will buy from a liar like that:)

Plus YMF have a whole lot of mandatory criteria. I havent lived in my current place for long enough so cant get anything from them for another month or more.

second hand is the way anyway. I must have been delusional when i thought about a new bike!!

[Billy Bob]

Thinkin about sellin the cbr900 94 mod for 5 and half, its had a bit of coin spent on it and its almost finished. lol just throwing it out there.

[watkins]

hey pt looks like we in kinda same boat here,
rode most of the bikes you did but the big brother models, would have same things to say about them (u didnt ride a kwaka??) i had a jump on the z1000 pretty mean and great price but the same day test rode the speed triple and it just grabs you on the nuts (best bike by far but yeah 5-6grand more once you add some aftermarkets)

i applied for yamaha finance but they are strict as fuck wanted a guarantor, so spoke to my finance broker and he said by the time you get hit by all the finance fees it ends up costing more than a personal loan and with a personal loan you have a LOT more freedom. ended up applying through the Bendigo (quoted 12.5% atm) waiting to hear back next couple of days...

EFE has a very valid point, if i were going with one of the jap models i would 100% get something early 00's to save a shitload on a good bike, but because im pretty sure ill hit the speed triple theyre used resale is fucking high (2005 model maybe pay $2000 less than new) $2,000 to me is enough to just get a brand new bike when it comes between 16,000 or 18,000

[watkins]

ah yeah and i was quoted insurance $1,700 full comp on the speed triple, i'm 22 and had a DUI in the past 2 years. - the quote was through whoever peter stevens uses ill have to find out who it was

[Fight_fan]

quote:Originally posted by watkins

ah yeah and i was quoted insurance $1,700 full comp on the speed triple, i'm 22 and had a DUI in the past 2 years. - the quote was through whoever peter stevens uses ill have to find out who it was


Mate that sounds fairly reasonable to me! Im in the same position as u n the cheapest I was quoted for the Gixxer was about $2500... Not to mention that most insurance companies cant touch me coz of the extensive mod list![V]

[watkins]

this was market value insurance no mods covered. and apparently the jap bikes insurance is more (why i have no idea)

i did some online quote things and they just over 2k mark.