So i have been contomplating financing a 2006 sv650s.. but lets face it, i work part time, and go to college, and for me thats a lot of dough.  The reason i wanted to go suzuki is because they approved me for 5,000 on a suzuki card, which is good considering my limited credit.

Well the other day i strolled into the dealer and sitting there is a 2001 sv650.  14,000 Miles  perfect cosmetic condition.  They said since it is a 2001 i could still finance through suzuki (which is also good because suzuki does not require full coverage) like a bank would.  They are asking $3,699 but i know i could get less.

So my question to you my friends is: Deal or No Deal?

- Jordan

Sorry this is a little off topic but, I saw where you are from and was curious on the dealer you went to?

Trying to get it before me are you!  Well i wont allow it! lol i went to babbits.
Where are you from?

- Jordan

LOL no, I just got my GS and I'm totally happy with it. I just wanted to make sure it wasn't the dealer that sold my friends stolen bike.

I'm in Lansing btw.

That's more than the retail Kelly Blue book value.  I'd say screw that, if you shop it, you can get a newer one with fewer miles for the same price if not less.  I was looking at the SVs and saw '03s in that price range.  Plus, the '03s and newer are EFI.  You can get another bank to give you 5k, so don't let that tie you to the dealer. 

dude.  be weary of those interest rates.

Suzuki is not financing the bike. thats why you keep the title.
they are approving a crediit card.  It is a scam. a total ripoff.
I won't get in tiff about credit cards anymore, but be careful, read the fine print and DO THE MATH.
compare your payment vs. interest rates.  some of those cards have been know to take 40%+  (interests added together)

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If a bank won't finance you, consider that they have a reason. It maybe in your best interest to go with a way cheaper bike.

But, I know talking about money is like talking about religion. so I'll just shuddup.

BTW- NO DEAL         ---IMO  only cause you should finance through a bank. 

i beleive suzuki uses hsbc and its like a 10% interest rate... I have the same deal, its not a scam, suzuki subsidizes the bank so they can sell more bikes

nevertheless, I'd try to get financing else where and try to find a SV private party from a guy who just got married/divorced or something  (aka kick a guy when he's down  )

I wouldnt go for it. Here is a link from a thread I started yesterday about debt. Kawi approved me for 5k on a card too, they will approve just about anyone. If you really wanted to go for it, get a loan from your bank. If they wont approve you then you pretty much know its not a good idea. BTW same here, work part time nd full time student. I know the allure of a newer bike is strong, but remember college isnt forever!

http://gstwins.com/gsboard/index.php?topic=25429.0

-ash

Quote from: LimaXray on April 11, 2006, 09:14:45 AM
i beleive suzuki uses hsbc and its like a 10% interest rate... I have the same deal, its not a scam, suzuki subsidizes the bank so they can sell more bikes

I am just saying be careful.

The scam part is just my opinion.    Twer my son, I'd forbid it.

NO DEAL - I agree with those who are advising against this. I certainly wouldn't do it, and I've been in your shoes (many of us have); save your money for a while and get your GS fixed. What would you do with the SV if something broke that wasn't covered under a warranty? You'd be no better off than you are right now...

I realize you're having problems with your GS, but take your time and you'll get everything working again. Check for automotive repair classes at a local community college; call and speak to someone in a position of authority and tell them you'd like to know if they would be willing to repair your GS for the cost of parts (you'll have to buy the parts they tell you that need replacing, which shouldn't be too expensive). You have nothing to lose by making a few phone calls; if you have no luck with a community college, find a local trade school, or one that provides adult education classes in automotive repair (it would be hard to find one that teaches motorcycle repair, though there are a few). The problems you've described seem simple enough to correct pretty quickly; with a little luck, there will be an instructor who would jump at the chance to teach his students basic repairs on something different.

This might sound crazy, but financing another motorcycle because you're having some problems with your GS sounds a LOT crazier to me. The GS is a pretty simple machine to work on (another reason why I consider it a modern classic); the Suzuki service manual is written for mechanics, not someone who can't do a tune-up (yet). Trust me on this; as long as you take your time and don't allow yourself to be overwhelmed by what SEEMS to be a major repair, you CAN fix your GS. I realize that you want it fixed NOW, so you can ride, but that won't happen unless you roll up your sleeves and do it yourself, OR find another way to accomplish your goals, such as...

If all else fails, find a class and ask the instructor if he knows someone qualified to work on your GS. There is bound to be an advanced student or two who will do the repairs for the cost of the parts and a case or two of beer. If your mechanical skills are lacking right now, use your social skills to get the help you need. Be creative in your approach to this, and you'll find the help you need. If you lived within driving distance, I'd throw my tools in the truck and we'd have your GS back on the road over the weekend...

what thread did you post the problems on your bike?

is it so bad?...hmmm.   NO DEAL.  keep the GS.

Quote from: LimaXray on April 11, 2006, 09:14:45 AM
i beleive suzuki uses hsbc and its like a 10% interest rate... I have the same deal, its not a scam, suzuki subsidizes the bank so they can sell more bikes

its still a credit card, not a loan. the interest is assessed differently and you end up paying WAY more if its a credit card...

My wanting a newer/different motorcycle has almost nothing to do with the fact that mine broke down.  I have been contomplating well before my bike broke down.  I would love to get a loan from a bank, however that way i have to pay full coverage and as a 20 year old male with a speeding ticket and MIP on my record, i am on high risk and that wouldn't be fun.  I have very good credit, just very little of it.  I was thinking i wouldn't pay more than 3 for the bike.  I dont know, waiting is just so hard lol.

- Jordan

Quote from: pantablo on April 11, 2006, 03:07:47 PM

Quote from: LimaXray on April 11, 2006, 09:14:45 AM
i beleive suzuki uses hsbc and its like a 10% interest rate... I have the same deal, its not a scam, suzuki subsidizes the bank so they can sell more bikes

its still a credit card, not a loan. the interest is assessed differently and you end up paying WAY more if its a credit card...

Well, it is a credit card, however the more you pay on it, the less interest you're charged. You start out paying a high initial interest rate and as you pay down on the bike the interest rate will begin to decline and you'll be paying very little interest monthly. While yes it is revolving debt, your minimum payment can never go down like a standard credit card so thus you're forced to keep paying the $99/mo or whatever it is while your interest remains on a downward spiral each month. You'll end up paying about the same as a regular loan this way with a fixed monthly minimum. REGULAR credit cards are assessed differently. Your minimum payment and interest calculation are directly correlated and so if you DID put a bike on a REGULAR credit card and payed only the monthly minimum, you WOULD actually be paying a lot more than a regular loan.

BTW, I know all of this because I currently am financed through a Suzuki card (HSBC) w/ their fixed 9% interest rate. I also have a regular auto loan from a bank with interest already calculated into the monthly payments. If you calculate the interest I pay from the bank loan and the interest added up from the Suzuki loan and subtract the price inflation from the truck being 20,000$ more expensive, there isn't much difference at all. I wondered the same thing when I got my Suzuki card and wondered how am I going to get this thing payed off with $50 in interest and a $99 payment?! Well, the interest has been declining and my payment the same as agreed when I signed for the loan and plus it's only common sense with a fixed monthly minimum like this.

Good info, thanks a lot.

- Jordan