Seems like to me that the dealer is giving you an incredibly good deal. It may not be as much as you want or need, but I can't imagine you getting a better deal at this time of year even from a private party. You might, but it would likely involved a LONG wait and then might not happen. Bottom line, only you know your exact circumstances.
Ride to work, work to ride
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It appears that the dealer is trying to work with you as best he can.
The deal sounds very good as you described it.
Dealer probably appreciates that you'll be a long-term customer, as long as he keeps doing the right thing by you.
#1: That $15k offer is outstanding. Run, do not walk to that dealer and close the deal. Sounds like they are in it for the long run and this kind of goodwill will come back to them.
#2: Check with your bank or other credit cards you may have and see if they offer transfer balance deals. Typically you can transfer your current credit card debt, up to your limit for 2-3% of the transferred amount then interest free for the term as long as paid in full. Typically the deals are good for 12-18 months.
The 2-3% upfront fee amounts to around 3 months worth of your current finance charges.
Only transfer the amount you can safely pay in the 12-18 months offered.
Good luck. Credit card debt is no fun but sometimes it can't be avoided.
OK guys, looks like this old woman ( that's me ) is going to try to do all the paperwork tomorrow. The dealer said I can come at any time. Question now is, since my credit is at the max, will I qualify for a new loan on the Road Star. Tomorrow wil tell. Thanks for all your input. I greatly appreciate iate it.
Originally Posted by Primo
I tried to get one of those no interest for 18 months credit cards to do just that.....transfer the debt to that card and try to get it all paid off. No one would give one to me based on the high amount of debt I had. That is why I am a little nervous about tomorrow's attempt to get a motorcycle loan. But dealerships have all sorts of tricks they can use to get one financed.
Winter is on it's way,,, I'd hang loose til next spring before borrowing any more $ to buy a bike.
Honda Canada just announced their incentives for the leftover '14 F6B, it's $2k off list + 1.9% financing for 3 years. We don't get the accessory money that the US does. All the '13 leftover F6B's in Canada have been sold. They had a $3k discount with 1.9% financing.
My point is act now, don't wait, as your '13 will only go down in value.
I wouldn't wait on selling the 6,,, I'd wait on acquiring more debt,,, (A little more 'direct' in my explanation.)
Credit card debt is a nasty business...Interest rate will kill you over time...Any way you could borrow against house or an equity loan of some type and pay off/down that credit card!!!??...Most home equity loans are for a long term but the interest rates are usually very low and rates are deductible on your taxes....Good Luck, and I agree with a couple of earlier posts, don't go back into debt on any kind of bike until your finances do not keep you up at night...I know we love to ride, but a little common sense may be a priority here??...Your choice...
getting one debit paid, to immediately jump into another is crazy
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