July 12th, 2011, 06:43 PM | #81 | |
ninjette.org sage
Name: T
Location: U.S.
Join Date: May 2010 Motorcycle(s): Current: '11 ZX-6R; Previous: '09 Ninjette; '08 ZX-6R (Ex-Wife '09 TU250X) Posts: 981
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Quote:
I let financing work for me. I know the financiers hate it too. I have many times taken advantage of 0% financing to get something a bit sooner than I might otherwise have. Then I pay it off before that balloon interest hits and laugh my ass off.
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R.I.P EthioKnight (Alex) |
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July 13th, 2011, 12:10 AM | #82 |
That rider dude.
Name: Eric
Location: Orlando, Fl.
Join Date: Apr 2011 Motorcycle(s): 2011 White Ninja 250 SE. Posts: A lot.
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Thanks for all the great input guys, I really do appreciate it. I thought about it and took all you said into consideration. Seeing how I feel responcible and have planned out my whole move, I will most likely be financing my bike and pay it off quick. If my credit is too horrible my parents agreed to co-sign. I have a stable job and good money income at the time being. I also have money stored on stand by incase anything were to happen to my stability. Thanks for the input x-)
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July 13th, 2011, 06:39 AM | #83 | |
ninjette.org guru
Name: David
Location: Burlington, MA
Join Date: Mar 2010 Motorcycle(s): 2004 Ninja 250 (sold); 2008 Plasma Blue Ninja 250 Posts: 364
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Quote:
Also just starting out a career, employers are pulling credit scores/reports to help them decide if you seem like a reasonable person. After a few years when you have prior experience again it may be moot but early on its nice to have a score that shows you have some sort of responsibility. |
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July 13th, 2011, 06:49 AM | #84 | |
ninjette.org Monkey Spank
Name: Kevin
Location: Illinois
Join Date: Apr 2009 Motorcycle(s): 2008 250R Track-Bike Woodcraft clip-ons and rearsets FZ-6 track bike Posts: A lot.
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Quote:
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Black 250R Full Area P QC Dyno Jet Kit 100 main 41T Rear Sprocket |
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July 13th, 2011, 02:44 PM | #85 |
ninjette.org sage
Name: T
Location: U.S.
Join Date: May 2010 Motorcycle(s): Current: '11 ZX-6R; Previous: '09 Ninjette; '08 ZX-6R (Ex-Wife '09 TU250X) Posts: 981
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I think this is perhaps the most important thing if you plan to use credit/financing at all. If you are living paycheck to paycheck and don't have extra in the bank, then credit and financing are definitely poor ideas.
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R.I.P EthioKnight (Alex) |
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July 14th, 2011, 09:56 AM | #86 |
Darksider
Name: Britton
Location: Maryville, Tennessee
Join Date: May 2010 Motorcycle(s): 2003 SV650S; 1982 Suzuki TS125 Posts: 106
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ok guys, just an update for my case (the OP)....not much of an update. I had a little girl about three months ago so the luxury of a bike has been put on hold.... BUT, right now my plans are to wait until income tax comes and use as much of it as I can to put towards a bike (I know, I know...that's a long time a way, but i've waited this long right?). There is a possibility that I will finance (a very small amount) but actually, I am looking in the used market because you can find almost new ninjettes for a near a couple thousand less than what you can get a brand new one (and having to worry about dealer fees AND BREAK IN PERIODS).
I believe each person has there own situation, but for me, the least I have to finance the much better I will be. |
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July 14th, 2011, 12:09 PM | #87 |
That rider dude.
Name: Eric
Location: Orlando, Fl.
Join Date: Apr 2011 Motorcycle(s): 2011 White Ninja 250 SE. Posts: A lot.
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Well it turns out financing wasnt an option I could use. But, they let me put the bike on lay away and took it off the floor so it's mine x-) I'll be getting it mid september.
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July 14th, 2011, 12:14 PM | #88 |
Sexy Beast
Name: Mat
Location: Tampa
Join Date: Mar 2011 Motorcycle(s): 2010 Ninja 250R, 2006 ZX-14, 2012 Ducati Monster Posts: A lot.
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even with the co-signer?
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July 14th, 2011, 12:31 PM | #89 |
That rider dude.
Name: Eric
Location: Orlando, Fl.
Join Date: Apr 2011 Motorcycle(s): 2011 White Ninja 250 SE. Posts: A lot.
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yeah my cosigner had worse credit then we thought even though she has a good job and what not. Credit score hasn't caught up to her yet. X-( but I think I can wait till sept. Knowing I got the exact one I want is a good feeling lol.
The finance guy was surprised the owner let us put the 250 on lay awa. Usually he doesn't. |
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July 14th, 2011, 12:33 PM | #90 | |
ninjette.org sage
Name: T
Location: U.S.
Join Date: May 2010 Motorcycle(s): Current: '11 ZX-6R; Previous: '09 Ninjette; '08 ZX-6R (Ex-Wife '09 TU250X) Posts: 981
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Quote:
Good luck with the kid and the bike.
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R.I.P EthioKnight (Alex) |
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July 14th, 2011, 12:34 PM | #91 |
Join Date: Nov 2008 Posts: Too much.
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Mahalo, Britton, for the update, but more importantly, congrats on your new bundle of joy. I know when I was raising my 3 kids, the saying that always came to mind was that "it takes cubic dollars to raise kids". I'm sure it's even more applicable now days.
Gl with your bike plans, but I think you'll find there are going to be higher priorities for awhile. |
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July 14th, 2011, 12:38 PM | #92 |
ninjette.org dude
Name: 1 guess :-)
Location: SF Bay Area
Join Date: Jun 2008 Motorcycle(s): '13 Ninja 300 (white, the fastest color!), '13 R1200RT, '14 CRF250L, '12 TT-R125LE Posts: Too much.
Blog Entries: 7
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/merged the "financing" threads we had going on; they covered the same ground and had some good information.
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Montgomery Street Motorcycle Club / cal24.com / crf250l.org / ninjette.org ninjette.org Terms of Service Shopping for motorcycle parts or equipment? Come here first. The friendliest Ninja 250R/300/400 forum on the internet! (especially Unregistered) |
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July 14th, 2011, 01:17 PM | #93 | |
Darksider
Name: Britton
Location: Maryville, Tennessee
Join Date: May 2010 Motorcycle(s): 2003 SV650S; 1982 Suzuki TS125 Posts: 106
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Quote:
Baylee Kay born April 16, 2011 |
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July 14th, 2011, 01:18 PM | #94 |
Join Date: Nov 2008 Posts: Too much.
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July 14th, 2011, 01:31 PM | #95 |
ninjette.org sage
Name: Luke
Location: Sevierville, TN
Join Date: May 2011 Motorcycle(s): 06 Buell Uly, 05 VStar 1100 Posts: 577
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Britton shes adorable! Family ALWAYScomes first. When you get your bike and everything give us a holler, we'll ride with ya.
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July 14th, 2011, 01:34 PM | #96 |
Darksider
Name: Britton
Location: Maryville, Tennessee
Join Date: May 2010 Motorcycle(s): 2003 SV650S; 1982 Suzuki TS125 Posts: 106
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Thanks, I'm sorta partial to her and i'll absolutely yell at ya when I get a bike! I hope to have one by next season...if nothing else, a used and abused cheapo craigslist bike that I can putt around on and call my own.
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July 14th, 2011, 01:40 PM | #97 |
ninjette.org sage
Name: Luke
Location: Sevierville, TN
Join Date: May 2011 Motorcycle(s): 06 Buell Uly, 05 VStar 1100 Posts: 577
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Hey my ninja 250 is a "cheapo" I bought, 06 with 5K miles on it, bought for a grand Just gotta look around. If you need help looking you just gotta holler at me. Around sept or so people will be selling bikes cheap to make room for winter.
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July 14th, 2011, 04:00 PM | #98 | |
ninjette.org certified postwhore
Name: D
Location: Palm Beach, FL
Join Date: Oct 2010 Motorcycle(s): 2006 Ninja 250R, 2007 EFI Ninja 250R Posts: A lot.
Blog Entries: 1
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Quote:
Time to start saving for a good helmet for the baby (when she gets older of course). |
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July 15th, 2011, 04:22 PM | #99 |
ninjette.org certified postwhore
Name: Bobbert
Location: Russell Springs, KY
Join Date: Jul 2011 Motorcycle(s): 2006 Ninja 250R Posts: A lot.
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This is my plan - Buy used bike(which I did)to get my skills up and then graduate to a new bike. It is always best to pay cash if you can.
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July 15th, 2011, 04:38 PM | #100 |
n00b
Name: Jorge
Location: Perris, CA
Join Date: Jul 2011 Motorcycle(s): Blue 2010 Ninja 250 Posts: 581
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I got a 4 year loan through my credit union to pay for the bike and then a 1 year personal loan to pay for the gear. I should have it payed off completely by the end of summer when a few big deposits I'm counting on hit my account.
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July 17th, 2011, 09:27 AM | #101 |
ninjette.org member
Name: Mike
Location: Rockland, NY
Join Date: Jun 2010 Motorcycle(s): '09 Ninja 250r Posts: 63
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I agree with kkim in most cases, but in my situation I bought my ninja with cash that I had saved up knowing that I was going to upgrade in the future. I am looking at buying my next bike and getting a loan for it so that I can build up my credit since i'm only 19 and have no credit. A small 5-6k loan is a perfect opportunity for me to start building my credit. I will be making a 1/3 down payment and borrowing the rest to pay off. A minuscule bike loan is almost like getting one of those small credit building loans to me with the added benefit of getting a new bike in the process
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July 17th, 2011, 10:33 AM | #102 |
ninjette.org sage
Name: T
Location: U.S.
Join Date: May 2010 Motorcycle(s): Current: '11 ZX-6R; Previous: '09 Ninjette; '08 ZX-6R (Ex-Wife '09 TU250X) Posts: 981
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Good luck with that. Just remember that bikes are toys. You may not get a loan for one if you have no credit, even with putting a 1/3 down. You might have to get some type of personal loan, and depending on where you get it, the interest rates can be high.
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R.I.P EthioKnight (Alex) |
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July 17th, 2011, 10:42 AM | #103 |
ninjette.org member
Name: Mike
Location: Rockland, NY
Join Date: Jun 2010 Motorcycle(s): '09 Ninja 250r Posts: 63
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Not sure if you were being sarcastic with the good luck but thanks.. Anyway I was already approved for the loan at a decent interest rate, but interest is not really too much of a problem on small loans. However if I do run into any problems my father has already agreed to co-sign as he realizes the importance of credit building and good credit as well.
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July 17th, 2011, 10:58 AM | #104 |
Always.
Name: Alex
Location: Calgary, AB
Join Date: Mar 2011 Motorcycle(s): '08 Ninja 250, '05 GSX-R600 Posts: A lot.
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Save for it, then put a down payment on ....as in save half maybe?
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blink-182 |
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July 17th, 2011, 07:45 PM | #105 | |
Jigglin' your Jiglets
Name: Sean
Location: San Jose, Ca
Join Date: Jun 2011 Motorcycle(s): 2009 K1300S, 2013 Ninja 300, 2011 Ninja 250R, Faster than Unregistered's ninjette Posts: Too much.
Blog Entries: 1
MOTM - Apr '13
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Quote:
I tried to get a loan from a credit union (which is much easier than a bank because they really do look at your entire financial standing) and they said they would be able to offer me a loan once my credit history reached 2years 6months. If you want to build up your credit, get a credit card from your bank and use it to buy gas and pay it off each month. I've been doing this for 2years 5months and my credit score is 731. It takes time to build up your credit history and prove you are capable of paying back what you borrow.
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If the Ninja 250 doesn't have enough power for you, then you don't know how to ride it. AFM #676 Supersports are for n00bs |
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July 17th, 2011, 09:25 PM | #106 |
Cranky Old Fart
Name: TXJ
Location: TX
Join Date: Apr 2011 Motorcycle(s): 08 DRZ400SM Posts: 189
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Depends on the loan. Small recreational loans are hard to get without a solid credit history. Banks and credit unions will take a chance with a low credit applicant for higher value loans. Mainly because the bank/union stands to make more if you default. My wife worked as a loan officer for some time. During the "first time home buyer" rebate, banks approved anyone who walked in the door and were willing to sign. Bad credit, low credit, new credit etc, sign the 80 page mortgage contract and you're approved at %3.5 - %4.5.
For small recreational loans it's a larger risk to the lender, so they're harder to get. You can have a extremely low debt to income ratio, a good beacon score and still be denied a loan for whatever reason they want to give you. Since in the lenders eyes, if you can't afford 5k for the recreational vehicle you may not be able to afford the loan payment and insurance payment monthly. Defaulting on a small loan like this brings little profit. |
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July 17th, 2011, 09:30 PM | #107 | |
Jigglin' your Jiglets
Name: Sean
Location: San Jose, Ca
Join Date: Jun 2011 Motorcycle(s): 2009 K1300S, 2013 Ninja 300, 2011 Ninja 250R, Faster than Unregistered's ninjette Posts: Too much.
Blog Entries: 1
MOTM - Apr '13
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Quote:
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If the Ninja 250 doesn't have enough power for you, then you don't know how to ride it. AFM #676 Supersports are for n00bs |
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July 17th, 2011, 09:44 PM | #108 |
That rider dude.
Name: Eric
Location: Orlando, Fl.
Join Date: Apr 2011 Motorcycle(s): 2011 White Ninja 250 SE. Posts: A lot.
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^^ student loans are much more different. I get those too but through the government. For me, its based on income and taxes, rather then credit scores and what not. That of course going through fafsa which is a government loan for those who can't afford. I doubt credit score has anything to do with student loans if its not through a bank or credit union that is.
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July 17th, 2011, 10:07 PM | #109 |
Jigglin' your Jiglets
Name: Sean
Location: San Jose, Ca
Join Date: Jun 2011 Motorcycle(s): 2009 K1300S, 2013 Ninja 300, 2011 Ninja 250R, Faster than Unregistered's ninjette Posts: Too much.
Blog Entries: 1
MOTM - Apr '13
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FAFSA denied me because of my parents income, even though they are not contributing to my educations financial cost. They will not even cosign my loans which made it a real bitch to find someone who would give me a student loan without a cosigner. Wellsfargo told me to screw off but a local credit union approved me for up to 25k each year.
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If the Ninja 250 doesn't have enough power for you, then you don't know how to ride it. AFM #676 Supersports are for n00bs |
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July 17th, 2011, 10:22 PM | #110 | |
ninjette.org sage
Name: T
Location: U.S.
Join Date: May 2010 Motorcycle(s): Current: '11 ZX-6R; Previous: '09 Ninjette; '08 ZX-6R (Ex-Wife '09 TU250X) Posts: 981
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Quote:
And I wish you and your father weren't right about needing a good credit score, but it becomes more true every day, unfortunately.
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R.I.P EthioKnight (Alex) |
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July 17th, 2011, 10:34 PM | #111 | |
That rider dude.
Name: Eric
Location: Orlando, Fl.
Join Date: Apr 2011 Motorcycle(s): 2011 White Ninja 250 SE. Posts: A lot.
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See if u went for school loans through a bank or credit union thennnnn credit scores will deff be a factor lol. |
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July 17th, 2011, 10:39 PM | #112 | |
Jigglin' your Jiglets
Name: Sean
Location: San Jose, Ca
Join Date: Jun 2011 Motorcycle(s): 2009 K1300S, 2013 Ninja 300, 2011 Ninja 250R, Faster than Unregistered's ninjette Posts: Too much.
Blog Entries: 1
MOTM - Apr '13
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Quote:
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If the Ninja 250 doesn't have enough power for you, then you don't know how to ride it. AFM #676 Supersports are for n00bs |
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July 17th, 2011, 10:46 PM | #113 |
ninjette.org member
Name: Jess
Location: Northern BC
Join Date: Jul 2010 Motorcycle(s): 2009 Ninja 250R Posts: 15
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don't buy a new bike, buy one 1 or 2 years old. Save the money on stealership fees and all that crap, save money on insurance because you'll be insuring the older bike for what a new bike is truly worth once you ride it off the lot. The key is to get your experience in man.
p.s. if you have older hobbies that you accumulated stuff with, sell that stuff, do what ever it takes to get into biking. get focused - avoid as much debt as you can. |
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July 17th, 2011, 10:48 PM | #114 |
That rider dude.
Name: Eric
Location: Orlando, Fl.
Join Date: Apr 2011 Motorcycle(s): 2011 White Ninja 250 SE. Posts: A lot.
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I never knew that. I always thought if you wernt ur parents and you claimed ur own taxes that would make you a dependent... huh. Guess I need to start saving up for next year then x-(
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July 17th, 2011, 10:49 PM | #115 | |
ninjette.org sage
Name: T
Location: U.S.
Join Date: May 2010 Motorcycle(s): Current: '11 ZX-6R; Previous: '09 Ninjette; '08 ZX-6R (Ex-Wife '09 TU250X) Posts: 981
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Quote:
I am not trying to be rude to you or put you down. I am just letting you know that being 18+ and having a job and money doesn't automatically make you independent.
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R.I.P EthioKnight (Alex) |
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July 17th, 2011, 10:55 PM | #116 |
ninjette.org certified postwhore
Name: Cuong
Location: San Diego
Join Date: Jul 2010 Motorcycle(s): 2008 Ninja 250r, 2007 Daytona 675 Posts: A lot.
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Under FAFSA rules though, no student is independent unless they're 24, on active duty, married, homeless, have a dependent or have deceased parents. It doesn't matter if you live on your own and provide everything by yourself unfortunately.
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July 17th, 2011, 11:47 PM | #117 |
Join Date: Nov 2008 Posts: Too much.
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July 17th, 2011, 11:48 PM | #118 |
That rider dude.
Name: Eric
Location: Orlando, Fl.
Join Date: Apr 2011 Motorcycle(s): 2011 White Ninja 250 SE. Posts: A lot.
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Sadly. I can see how its a good thing and yet a bad thin for it to be that way.
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July 18th, 2011, 12:38 AM | #119 | |
Jigglin' your Jiglets
Name: Sean
Location: San Jose, Ca
Join Date: Jun 2011 Motorcycle(s): 2009 K1300S, 2013 Ninja 300, 2011 Ninja 250R, Faster than Unregistered's ninjette Posts: Too much.
Blog Entries: 1
MOTM - Apr '13
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Now from a realistic view I am 95% independent I'm not just 18+ and have a job. I pay for all my stuff, insurance, food, sundries/toiletries (w/e you call them) gas, clothes, school, bills. The only thing I am not paying is rent. But I'm sure I make up for that by doing nearly every chore around the house, laundry, dogs, lawn, pool, garbage, dishes, etc. So yes I do think I am independent and I do think I am quite deserving of a federal loan. And notice I'm looking for a federal loan not a grant. I'm 100% willing to pay the money back. If it wasn't for the local credit union that approved my student loan, I wouldn't be able to go to school full time.
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If the Ninja 250 doesn't have enough power for you, then you don't know how to ride it. AFM #676 Supersports are for n00bs |
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