Tuesday, September 27, 2011

What is the best financial way to buy a sportbike?

im thinking to buy motorcycle . used one . about $6000 . i have good credit. do i buy from dealer ship with financial? pay credit card?


which one is better?|||If you have to pay with some sort of finance, and of the course the real answer to your question is to buy it cash...then look for a no interest deal of some sort.





If you have a credit card that offers you a no interest period then fine...but be aware that they are often time limited, for say 6 months and then you start paying interest on the remaining balance.





My husband once had a card that offered him no interest on the lifetime of the balance for any item he bought within the next 6 months...so he bought a Kawasaki.


He paid the card off over the next year or so with no interest added.





Many dealers now offer interest free finance, so that's the same thing....you get the bike and pay it off over time with no interest added.


But of course some people argue that they sell it at the highest price they can to start with to offset the loss of interest.





It's worth checking if your local laws allow dealers to not offer any discounts to credit buyers that they might offer to cash buyers.





Where I live at present they can't....by law they have to offer the same discounts to both.





In short, what you want to do here is avoid paying any interest but at the same time be careful you don't over pay for the bike to get that.|||Best way would be to pay cash and if you don't have it it means you can't afford it..





Fast forward it 2 months: you buy the bike get a debt something unforeseen happens you can't pay your debt. You lose money %26amp; bike.





Bingo your credit is shot. And for what? For buying something when you couldn't afford it.

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