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New Rider Looking For Advice

Discussion in 'New Riders and Riding Tips' at netrider.net.au started by X, Feb 25, 2008.

  1. Howdy, I was referred here by my mate Gav' who also joined recently.

    I was wondering if you guys could give me a little advice.

    I've recently turned 18 and am doing my riding training/course thing during late March with HART.

    Now as far as a bike, I've been offered a Kawasaki ZZR 250 for $3000.

    It's only done 4500 Ks and has only been dropped once.

    At the moment I've not got the finances to pay up front and I fear the bike will be sold before I've got the money together. Because I've just started a new job I believe the banks will be hesitant to give me a loan... but I'll be sure to try anyway.

    None the less, I'd love your advice on the issue and possible alternatives if the bike gets sold. Thanks a lot.
  2. G'day x and welcome to NR

    You haven't told us what year it is but I'd be highly suspicious of the KM. Better to go by the overall condition of the bike anyway.

    With the loan, you may have to get a guarantor. Then it wouldn't be a problem.
  3. g'day X,

    you should do a quick search on zzr's. there is a fair bit about them in new riders section i think.
    good luck getting yr loan, i had a similar problem coz alot of my income is cash in hand. but the finance company bent their rules a bit and put it thru as a business loan.

    sound's like a good deal. if you go and introduce yrself at the welcome lounge you might find people will help you out a bit more.
  4. Heya. Just some advice from someone who works for a bank. For that amoutn you may be better off getting a credit card and doin a cash advance and paying that back. The interst will be a little higher but the approval on a ccard is much easier than one on a personal loan and you'll find most banks will give u a ccard very easily.
  5. G'day X (sounds like a spy name)
    2wheelsagain's rules for bike buying:
    Do your homework (nothing wrong with ZZR's)
    Work out what type of riding you'll be doing
    Buy the best condition you can afford (they are all money pits)
    If you miss out on a bike you like, there are plenty of others (don't be pressured into buying anything)
    Ask for help in inspecting a bike if you don't know much about them (by your first post you don't)

    Welcome to bikes and NR
  6. + You can transfer the debt to another card and get up to 12 months at 0%.

    All depends on how long you need to pay it back though. You dont want to get stuck with 15% interest.
  7. Fair enough advice- IF you're ok with money and IF you are NOT tempted to only pay the minimum... and IF you're not tempted to use the card as the balance draws down.

    Is that enough emphasis for you?!?!? :grin:

    Anyone who gaurantors you will own your nuts (metaphorically) if you let them down and default on the loan. Think about the faith someone is showing you if they agree to garuantor you.

    The other thing is that there's always another bike - so waiting is an option too.

    By the way, if $3k has got you squirming, what about the other $1- 1.5K for insurance and gear? :-k
  8. Nothing wrong with the zzr's. But at $3000 for a bike thats done 4500km I would be expecting it hasnt been repaired from that one drop. Remember if it sounds too good to be true it most likely is. Just be thorough in checking it (if in doubt ask someone on this forum to help you out they are very friendly here...well some :p ) and you could be getting a great deal. Good luck with it all. :cool:
  9. To answer some of your questions.

    The bike is a friend of a friends, although I don't think he's selling it any cheaper to me then anyone else.

    I've already picked up some gear from AMX in Bayswater (Melborune) a leather jacket (damn big one at that - so I don't die :shock:) and a helmet. All up that stuff cost me 480... those bastards.

    Secondly, I have personally looked at the K's myself and yeah, I was also a big shocked, but for the most part it seemed legit.

    With the loan, I'd be able to get a guarantors no problem, should I go to the bank today and enquirer? Personally I'd feel a tad so edge about getting a credit card with all the bad connotations that go with it... although I do plan to pay off this loan rather quickly. Another problem is that, currently, I get paid monthly and hence the two payslips required would take me a month to aquire rather than two weeks. That and I just started...


    Oh, and thanks a TON of all your help thus far. I really appreciate it.
  10. You should be able to get a letter from your HR/Payroll people stating what your regular income is.
  11. Oh, That sounds sweet as.

    Shall I explain to them what I'm intending to doing, with the loan etc.?
  12. Hey man i had a little trouble getting a loan because im a student and no one would be a guarantor due to the fact that parents didn't want me getting a bike. Anyways i tried esanda finance got the finance easy as piss, the loan is secured on the bike so if i go into default they just take the bike. Im not to sure if it would work the same for a second hand bike but shouldn't be an issue, they have a specific department for bike finance to which is great. they even let me finance my gear so i could get some good stuff. Interest rate is good to, cheaper then banks

    cheers nathan
  13. Is there a link for this on their page?

    If so could you please give me a link?
  14.  Top
  15. DO NOT, repeat DO NOT get a loan from Esanda/GIO etc.

    Why, simple - their loans often tend to require full payment including all interest. That means you can't pay the loan off sooner and save interest, the full amount is due. In some cases, they add the interest on to the loan value at the start of the loan (often referred to as a Crippling Balloon Payment).

    And they can do this because you signed a contract.

    I learned the hard way when I was a lot younger, and that $3000 loan cost me over $7000 by the time it was paid off. No, they are not always like this - but enough of them are.

    DO NOT use your credit card. (my advice, destroy it and never get another one, very few people can manage to use them well).

    My $0.02. I don't like seeing people make the same mistakes I made.

  16. good point agro, check that you can pay it off sooner.

    my loan thru esanda allows me to pay it off as soon as i like but i think they do add a fee to the initial loan. i think they added about $600 to a $7000 loan. i dont have any patience and just wanted the bike straight away.

    get someone else to go with you just coz two heads r better than one. and make sure u read all the fine print and ask hundreds of questions. they like to rush u thru that stuf but yr paying them for their time so use it.
  17. Yeah, for sure.

    I think I'll look over everything before I make a decision. Thanks for all the help boys.

    I'm linking this forum, financial and bike advice.

    Don't go anywhere else kids.
  18. Do you pronounce X as the letter name (ex) or as the letter sound (kxss)? Just curious. :)
  19. It's how you say the letter, like, if you were saying the alphabet... It's an old nick name I guess :?

    Anyway, I saw a few CBR's around work and they're so sexy

    How much is the common used one?
  20. Most CBR250's go for about 4-7 grand. That averages about 5 grand more than any sane person would pay for them.