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{Moved from Reviews} Bike finance

Discussion in 'Businesses and Service Providers' started by bsaac, Jul 18, 2013.

  1. Hi all,

    I'm after some advice, I'm planning on getting a new bike towards the end of the year and I was wondering if people had any recommendations of where to get the cheapest finance?

    I've always paid cash for my cars but this time around I think I'll get a 3 year loan so that I'm not taking up as much capital etc so any tips would be great

  2. BMW finance. You know there good when Esanda says its company policy to not try and match them. On a plus side you get a BMW. ;)
  3. Never ever go with Esanda
  4. I hate esanda. Got my first ever CRA bad credit rating for a late pament nearly 30 years ago. Cocks.

    BMW finance is about 8.52% on a new BMW at the moment. They are also an excellent finance company, I have used them many times.
  5. Yeah I am with BMW with my SV650.. really good they are.. I went through Universal Finance a broker and got a great deal on the bike and got the loan from BMW.. If u need the guys name I delt with let me know..
  6. Vehicle finance at the moment is a around 6.5 to 7.5 if your credit rating is good , I cant see why that wouldn't apply to bikes as well. Shop around just make sure you own it at the end of the term and there are no hidden fees and charges that suddenly turn it into 9%.
  7. BMW. No fees, no charges. That is why its good.
  8. @OP....

    If you've never financed a vehicle before now and have the spare cash why the hell would you finance one now?

    Honestly......higher interest on a consistently depreciating "asset" is ludicrous....

    The only way this is beneficial to you is if you can offset the outgoings via recouped tax
  9. Thanks guys ill give BMW a look

    @BitSar if the interest rate is as low as 6.5-7.5% then I would get a better return if I invested the $20k smartly then having it tied up in a depreciating asset
  10. An after tax return of 7.5% with no risk is a good investment.

    Another reason people finance is because they just like having a lump of cash in the bank... Financially irrational, but it helps some people sleep better at night.
  11. A depreciating "asset" which incurs further tax, costs, maintenance etc is not an "investment"

    Just 'sayin
  12. That makes no sense at all.

    Please restate what it is you're trying to say.....

  13. I didn't say the bike was a good investment.

    @bsaac said he can invest the money elswhere and get that return.
  14. Good, good.....thank you for the clarification.