[Phoenix_Rising]

Hi all, I just wanted to introduce myself. I've been recently looking for a bike forum because till a few years ago I was strictly into cars, and the boards I visited very few bike guys ever posted there. I found this site and kinda skimmed around liked what I saw and decided to register, so here I am.

I've been spending most of the past year researching bikes and have decided that I'm going to soon purchase a Katana 750, I'm 6' 5" and about 215-220 lbs. My dad was and still is into bikes big time (he's been riding since 12) but hasn't ridden since I was younger (I just turned 23 September 30th) I know basics from him but I plan to take a rider saftey course etc, that is one thing I'm glad he taught me early is all about being a safe rider and being alert and aware, he also taught me about wearing proper gear for the situation.

So I don't consider myself totally inept, but I do know I have a lot to learn but I'm slowly trying. I hope this board will help me learn as I think it might from my brief glances at some of the topics and such.

Sorry for such a long and boring first post, I tend to run on and on when I'm not really sure what exactly I want to say or how to say it, so I'll end this by saying that I hope to enjoy my stay here and learn as much as I possibly can before I actually start riding.

 

[bat4255]

Great 1st post and welcome. It sounds like your on the right track.

 

[Phoenix_Rising]

something somewhat off topic and that I didn't feel fit with my first post but in my opinion doesn't warrant its own post is that at a local dealership I was looking at an 02 750 Kat. Price was just over 5k if I remember correctly. 1500 miles on it, ridden by a saftey instructor. Very well maintained from the look of it. Of course it had the obligitory dings and sctatches here and there but nothing MAJOR.

I have no credit whatsoever to speak of, I went and did a credit check told the guys I had about 700 to put down at the time. He said he'd get back to me in a few days and let me know what Suzuki said, he called back and said that Suzuki wouldn't finance me unless I put 3k down, is this unheard of or is it commonplace because I pretty much have no credit. Just looking at some reasoning because I was skimming thru I post I believe in this section about bike down payments and such and a lot of people were saying you didn't really need one unless you were trying to lower your monthly payments.

That wasn't the case with me it seems, so am I pretty much stuck with dropping a 3k down payment no matter what I do, I mean I have no problem with it. It just means I've gotta cut back on some every day expenses in order to save the money for the bike. Any answers would be greatly appreciated.


P.S. Thanks for the warm welcome Bat

 

[bat4255]

Thats probably because you have no track record of payments. Check with your local bank. If your on good terms with your family's bank, I think that's the best way to go. Untill you establish a good credit rating, expect to pay a little bit more as far as intrest rate goes, untill you can prove yourself.

When I meet my wife, her rating sucked because she always paid cash and had no track record of payments. My rating was great because I had a few loans out (2 - bikes, 1 - new car, etc), but always made timely or early payments.

Life is a lot easier with good credit.

Good Luck

 

[SuzukiGirl1]

Welcome!!!!
Good luck w/ the bike!

What you can also do, is go to lending tree.com and get a credit card of some kind. You'll probably only get like a $500 balance or something since it's your first card. Don't use it except for maybe charging gas or groceries or something and then pay it off every month in full. You're credit rating will increase dramatically.

If you're worried about the responsibility of managing a credit card (sometimes it's too hard for people)...go to your local bank, and apply for a $1000 personal loan. Then, just set up automatic payment or set it up w/ online bill pay to be automatically deducted on a certain day of the month.

 

[Louis]

:welcomes:

 

[LayinLo]

Thats great advice from SG1. Welcome to our humble little site. Good luck with getting your bike, keep us posted on how it goes.

 

[red7eb]

:welcomes: Phoenix!!

 

[c50tiger]

:welcomes:

 

[007]

You can learn a lot from this site. Keep reading - and welcome!

 

[Clint]

You sound like a motorcyclist, and not a biker or a squid. Good for you, and welcome! I'm sure you'll have a ball on two wheels.

 

[Guest]

...or one...

 

[SoCalMike]

As far as financing goes im in the same boat as you. Im 25 and have had a Credit Card since i was 18. Never financed anything. My credit score is well above 700, which is considered excelent credit. As far as financing goes, it doesn't matter a damn. They want financing history. I tried the hardest i could to get financed for anything. When i finally did, it was for like 15% apr which is just stupid.

Finally had my old man co-sign. Its really the only way to establish a good credit record, unless you have a stack of cash to put down as you have seen.

GL

 

[Phoenix_Rising]

You sound like a motorcyclist, and not a biker or a squid. Good for you, and welcome! I'm sure you'll have a ball on two wheels.

Thank you much for the compliment, it's not every day a Mustang driver is nice to a Camaro driver

 

[Clint]

Had you identified yourself as such, I mightn't have been so civil. :wink:

I like cars. I like bikes. And I like most people who use either responsibly.

 

[TL chris]

You sound like a very responsible person with a good head on your shoulders. However, I'm curious as to why you wouldn't buy a bike a little bit older and with cash instead of financing. Yes, eventually, you will drop your bike. You said it has minor dents and dings, but if you dump it hard, a bike a little bit older wouldn't be as expensive to fix. Plus the extra money you save can be spent on some good gear.

Welcome to the site though.

just my $.02

 

[Phoenix_Rising]

I plan to save up about 5-5500 total for gear and financing, so I won't really need to worry about gear expenses.

 

[TL chris]

jes-checkin