Financing a Honda Cbr 500r?
So I want to start riding motorcycles, and I would love to get a Honda Cbr500r. The thing is I'd have to finance it for 3 years. I can afford to do this but I'm unsure if it is a good idea. So I'm looking for your opinions. To finance or not to finance?
I'm 18, 2nd year of college and need a way to commute. 5' 10" 60kg.
Sensible when it comes to speed and I will be doing a safety course also!
For a first motorbike, don't buy a new machine.
Chances are much greater that you will end up dropping or crashing your bike the first year or two and dropping a new bike not only stings your ego but hurts the wallet as well ( a motorcycle with a full fairing like the CBR500R is expensive to fix ).
For a first bike, start out on a used bike. If you like sport bike styling, the Honda CBR 250 or a Kawasaki Ninja 250/300 are better choices for a newbie rider.
Take the ridder course first most supply the bike to train on. Once you get your rider endorsement then you can decide on what to get. Buy used but do not buy a dirt bike if you are not going to be riding in dirt the bike you chose is fine but may not be the best when you are a new rider. I have owned about 6 bikes and only one was new.
Interest is a waste of money and adds 50% to the cost of your bike. Ask the dealer how much you will pay in interest over the life of the loan.
Quote: "… I would love to get a Honda Cbr500r… I'm 18, 2nd year of college and need a way to commute…"
Which do you want? Waste your money playing with a new sporty bike? Or cheap commuting to school?
Just the full coverage insurance for a new sporty bike on an 18-year-old new rider will be more money than buying and insuring a used cruiser or dual-sport. At 5'10", I would suggest a used 200-250cc dual-sport -- dual sports don't care if you drop them and ignore bad pavement. For commuting you *need* storage, lockable if you want to have the stuff to be there when you are in school. A pair of SAW ammo cases look good on a dual-sport.
Get the dual sport in college, get the sporty bike when you have 3 years of experience and far cheaper insurance.
Financing is always a bad idea
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