Buying a motorcycle?

Question

My boyfriend is wanting a motorcycle desperately and I've decided to start putting money away to help him get one. But I know nothing about them or their financing. I got a general cost amount from the Harley Davidson website but I would like some advice on how much would be a good down payment for a bike priced between 15k-20k. It may end up being more than that if he goes for a Honda... I just want to save up maybe the down payment for him. I don't want his monthly payment to be very steep.... he's a firefighter so he doesn't bring in the dough... so I need the monthly payment to stay around 200$. Help me?

Answer 1

Check into a Harley Sportster, if you want the payments in the $200/month range.

The 883 starts out around $8,000 and the 1200 (I'd recommend the 1200) starts around $10,500.

I'd figure on around $1500 for a down.

Depending on his credit, the payments would be around the $200 range for the 1200.

The whole thing is, you need to find out what his preference is. Touring, sportster or racing bike.

Then go from there.

Answer 2

first off harleys cost a hellofa lot more than hondas.i own three harleys.what kind of bike is he looking for?

Answer 3

What you should do is whenever you see a motorcycle point it out to him and find out what kind of comment he makes.  Make a note to yourself of the make of the motorcycle and his comment and just make the decision from there.

Harley Davidson would be a safe bet because they hold there value a little better than metric motorcycles, but as you know they are expensive.

Another thing you should keep in mind. Does he know how to ride a motorcycle?  If not, I wouldn't buy him a new bike just yet.

Answer 4

i put down 9k on a 20k bike, my payments were 230.00 a month.

Answer 5

If you have good credit a 60 month loan will cost you approx. 2% of the amount you borrow. $10,000.00 would cost about $200.00 a month. You can go as long as 72 months which will lower the payments but cost you a significant amount of additional interest. I saw a still new 2006 Victory Vegas 8 Ball for sale for $12,500.00 with tax etc. just over $13,000.00. 3 grand down, + $200/month x 60 = $15,000.00.

Bike like this has a full warranty since it has not been titled.