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Discussion Starter #1
Financing did all the math, and told me $85 a month.

My statement finally got generated for 5/1, and it says $103

Not a huge deal as I planned to do double or even triple payments, but still kind of not cool. Anything to get you to sign the papers I guess.
 

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Gotta look at the contract you signed, doesn't matter what words come out of their mouth. Especially once you start incorporating any fees into it.

My dealer never said tax, title, and plates would be $200 and wasn't built into the bike. That was a surprise when I went to pick up my plates. (I'm used to cars where that stuff is typically built into your final price).
 

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Financing did all the math, and told me $85 a month.

My statement finally got generated for 5/1, and it says $103

Not a huge deal as I planned to do double or even triple payments, but still kind of not cool. Anything to get you to sign the papers I guess.
Look at the paper they gave you with the interest % and that kind of stuff. If you agreed to 85 then they cant in force the 103 but you may have sign the paper and agreed to pay 103.
 

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Same here... was told it'll be around $113 a month.... ended up being $200 a month.... as i planned to do atleast double payments too but now my double payment is a minimum...

And as for interest too.... i've been paying the same amount and for some reason my recent bill charged me $10 more on interest and I've always paid the exact same amount... this is through kawasaki credit card...

Financing did all the math, and told me $85 a month.

My statement finally got generated for 5/1, and it says $103

Not a huge deal as I planned to do double or even triple payments, but still kind of not cool. Anything to get you to sign the papers I guess.
 

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Discussion Starter #5
Look at the paper they gave you with the interest % and that kind of stuff. If you agreed to 85 then they cant in force the 103 but you may have sign the paper and agreed to pay 103.
My interest is 7.2%

It's all good though, like I said, I planned to pay more than that anyway :)
 

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Same here... was told it'll be around $113 a month.... ended up being $200 a month.... as i planned to do atleast double payments too but now my double payment is a minimum...

And as for interest too.... i've been paying the same amount and for some reason my recent bill charged me $10 more on interest and I've always paid the exact same amount... this is through kawasaki credit card...
This happens with a variable interest rate.
 

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Discussion Starter #8
what's variable interest rate? man i knew i should of just saved and buy it right out... but i was to impatient to ride lol
You get a interest rate when you finance which depends on your amount down, and credit. Mine is 7.2%, but I thought that was factored into the $85 already.
 

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Discussion Starter #11
The problem is most mc dealers use a credit card not a normal loan
What exactly can this Kawasaki Card be used on? Is there a Kawasaki online store? My credit limit on the card is the total price of the bike including my down payment so if I ever wanted to upgrade my bike in the future, and stick with Kawasaki, but the price of the new bike is double the amount of what I have, how would that work? A new credit check?
 

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What exactly can this Kawasaki Card be used on? Is there a Kawasaki online store? My credit limit on the card is the total price of the bike including my down payment so if I ever wanted to upgrade my bike in the future, and stick with Kawasaki, but the price of the new bike is double the amount of what I have, how would that work? A new credit check?
they raise your limit if you qualify. Its the same as any credit card you get at a dep store. Only good at the store name on the card
 

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they raise your limit if you qualify. Its the same as any credit card you get at a dep store. Only good at the store name on the card
Cool Cool!

Yeah, I can definitely see myself buying a ZX6R in the next 2 years or so :D
 

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Anytime you finance something its always a must to review the final loan document you sign with the totals, APR, etc. A lot of dealers do sneaky things with out your knowing and people end up signing papers without reviewing them.
 

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funny I got financing through Kawasaki's bank (ge financial) they didn't even offer a card, not that I'd accept it. Fixed interest rate of 6%? No penalties for paying early? Yes please

Sent from Motorcycle.com Free App
 

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My brother worked as a car dealer for years. A dealer of a car, ATV, Motorcycle or any other large purchase items are going to make the money in the Financing office.

It's important to flat out ignore what ever they tell you you are going to pay monthly because that is all smoke and mirrors. If I do all the math for you I could say your payment is $25.00 a month but if you sign a form that when all the math is done says you'll pay $2,500.00 a month you'll feel pretty duped on that first payment.

What you need to know is this:

Total cost of the bike (minus any dealer incentives, trades etc)

Sales tax (Your state/town should provide this to you know this before you even put a penny down on the bike)

Title/Licence cost: (Your state/town should provide this to you know this before you even put a penny down on the bike)

APR of your loan: (this might be variable considering most motorcycles are considered unsecured loans much like credit cards)

Loan Term.

Now... there will likely be an additional documentation fee that can range from $90 - $200. So you can factor that in if your financing.

From all this information you should be able to figure out exactly what you'll be paying monthly.

Use an app, or website on a smart phone, to calculate it all for yourself before you sign anything


Here is a website:
http://www.motorcycle-financing-guide.com/motorcycle-loan-calculator/

Here is an iPhone app:
https://itunes.apple.com/us/app/ez-financial-calculators/id494170744?mt=8

Here is an android app:
http://www.calcmoolator.com/
 

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The problem is most mc dealers use a credit card not a normal loan
Correct,

Unlike an auto motorcycle loans are considered "unsecured" which means they are more like credit cards than an auto loan. When credit reporting agencies look at your credit history they will see your motorcycle loan as "additional credit card debit" because that's how it looks.

I'm not really sure why there is such a disparity between an auto loan and a motorcycle loan here in the U.S. I suspect it may have something to do with the fact that motorcycles are still considered "recreation vehicles" for the most part.

This is also the reason that motorcycle loans have such high intrest rates in comparison to auto rates.

For those looking for loans in the future...I'd suggest looking at USAA bank if you are in the states. You don't have to be a member of the military to use them for banking or loans and their Motorcycle Loans start at 5.99% which is the lowest I've seen outside of special dealer promos.
 
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