Impossible to get a Loan???

Fiddlestick

I bought a brand new Bandit for 4 grand

custardy

bovrilbadboy wrote: »

I take home £2500 pcm, out of my outgoings, I can save £1100, to pay off my overdraft and pay for the bike I want outright would take me 9 months!

I can clear my debt, it's just sadly I thought it wouldn't be this much hassle to get a loan.

9 months is nothing
bide the time and pay off/save

Fiddlestick

Wutang wrote: »

I think his point was that his cousin died, you completely heartless person.

Only it seemed his point was that because his mate was a Doctor, the fact that he thought bikes were dangerous seemed to carry more weight.

That's hardly a universal view.

I can count only a few incidents where my own riding skill has put me or anyone else in danger, whereas other road users put me as a biker in danger nearly every time I'm on the road.

rtho782

Buying a bike new can make sense - you get drowned in 0% offers these days!

For example, I had my old ER-6f new on 5 years 0% for £5,500. A nearly new one (~12 months old) would have cost me about £4250 at the time, and had I had that on finance, it would have meant over £5,500 including interest.

Anyway...

I earn ~£20k, I've had a lot of debts and defaults, but only one default (with 3 months till it falls off!!) left now.

Dec 2010 I bought my YBR-125 on 0% through Black Horse after writing my car off. Was AMAZED to get accepted.

6 months later, I part ex'd it for the above ER-6f, I guess probably accepted because Black Horse now liked me.

5 months after that I wrote the ER-6f off (front tyre blew on the M4), insurance cleared the finance, and I have a Yamaha XJ6 Diversion F on finance with them.

Strangely, I couldn't have a Suzuki as Close Brothers Finance wouldn't go near me.

I guess my point is, it could be worth trying new... the manufacturers have close relationships with the finance houses and my credit was horrendous when I bought the 125!

rtho782

Also, studies have shown that riding a motorcycle is 1/20th as risky as horse riding, yet us motorcyclists are considered suicidal by the same people that smoke and put their kids on horses....

Source:
http://www.bbc.co.uk/pressoffice/pressreleases/stories/2007/03_march/23/riding.shtml

bovrilbadboy

Fiddlestick wrote: »

I bought a brand new Bandit for 4 grand

Your bike is a commuter, not the latest sportsbike so big difference.

bovrilbadboy

rtho782 wrote: »

Buying a bike new can make sense - you get drowned in 0% offers these days!

For example, I had my old ER-6f new on 5 years 0% for £5,500. A nearly new one (~12 months old) would have cost me about £4250 at the time, and had I had that on finance, it would have meant over £5,500 including interest.

Anyway...

I earn ~£20k, I've had a lot of debts and defaults, but only one default (with 3 months till it falls off!!) left now.

Dec 2010 I bought my YBR-125 on 0% through Black Horse after writing my car off. Was AMAZED to get accepted.

6 months later, I part ex'd it for the above ER-6f, I guess probably accepted because Black Horse now liked me.

5 months after that I wrote the ER-6f off (front tyre blew on the M4), insurance cleared the finance, and I have a Yamaha XJ6 Diversion F on finance with them.

Strangely, I couldn't have a Suzuki as Close Brothers Finance wouldn't go near me.

I guess my point is, it could be worth trying new... the manufacturers have close relationships with the finance houses and my credit was horrendous when I bought the 125!

I see your point and I have considered this but for the bike i am after has no such deals.

This will be turned in to a track bike.

xiodene

bovrilbadboy wrote: »

If bike's are so dangerous, why are they half the price of insurance compared to a car, if not cheaper?

Last year it was majorly cheaper to insure a standard sports bike that does 190mph compared to a Renault Clio 1.4!

Good idea about the magazines though. :-)

Simple, when bikes crash they usually do much less collateral damage than a car does. Plus alot of bikes are only insured 3rd party fire and theft.
Less paid out by insurers means cheaper premiums

Hanky_Panky

I've been considering a '99 - 996 for around £2,500 for a few months now - know the guy who's selling it.

Certainly no need to spend £7k on something newer when there are bikes that good around for half the price.

TrueUnitedFan

7k for a BIKE?