I'm 16, have no credit but want a streetbike. What's the interest rate at a dealer going to be?

Question

I am looking to buy a ninja 250 ($3000-3500) because they are smaller, cheaper, and I am still learning and don't want to spend a bunch of money on something I might scuff up. I don't have a lot saved up for a down payment. So, I need the interest rate, and a monthly insurance estimate. Thanks in advance...

Answer 1

Insurance for a 16 yr old male would be atleast $150+ per month (depending on insurance company).  Your interest rate would probably be between 18-24%

Answer 2

It's gonna be zero - because you can't get financing at 16 !

Answer 3

Here is the deal, before you even get to an interest rate or monthly insurance, you need 2 more years!

This is called FINANCING, unless your parents are going to put it in their name, you cant get it. No dealer can finance a minor.

Plus insurance quotes are based off individuals, depends what coverage you have, deductibles, male/female, and what company you go with. So you have alot to consider/

Answer 4

Mute point because your not old enough to legally sign a contract.

Additional information:

Of course your not stupid you just forgot to give us the most important piece of information.

Depending on your dad's credit your looking at between 18% and whatever you State maximum is, as far as insurance again depends on your dad's driveing record and credit.