Buying 2008 yamaha R6…Monthly payments?
Question by Jay F: Buying 2008 yamaha R6…Monthly payments?
im 18, and I got my license a few days ago. but i have never got a credit card or banking account before. im planning to get them both next week. after that im planning to buy an 08 Yamaha R6. im ganna down 1000 and was wondering how much my monthly payments is.
Answer by ElGrande
Jay, you seem to be pretty serious about an R6 (bad choice for a newbie rider, but that’s a whole different topic) as you’ve posted this question before and several others like it.
1) Have you looked into insurance? Someone gave you the advice that “dealers will let you only get liability insurance”. That’s not true. If you have a loan against the bike, the lender usually requires full coverage. And insurance for a hot bike like that for an 18-yr old without motorcycle experience is going to be HIGH.
2) I didn’t really get how you were going to finance the bike. Do you already have a loan from your bank? Are you planning on putting the remaining amount on the credit card (after your down payment)? Do you plan on financing through the dealership (without a decent credit history, good luck).
It’s hard to answer a “how much for a monthly payment” question without knowing some of these intangibles.
Just some considerations. If you choose to go against the prevailing advice and get an R6, just be very careful. And carry one hell of an insurance policy.
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