How much credit do I need to finance a motorcycle?

[Kelvrick]

I have decent credit, I guess. I have a steady job and a car under my name.

What should I expect when I want to borrow/loan/finance 4k for a motorcycle? Should I just not bother, or would I be getting horrible interest rates? I would be able to make about $300 payments each month while saving another 100 bucks in my savings account after rent/utilities/food/bills and such.

I talked breifly to a Bank of America guy today, but they only do a minimum of 10k loan and the 10% interest seemed kinda high.

Thanks for any advice.

 

[malbojah]

I had to get a personal loan through my bank when I got my bike because it was to old for an automotive loan. They raped me for 11.25% for 2 years. I was able to pay the whole thing off in 8 months. My advice would be to go through a credit union and get nice low rates. The one I'm moving into now is only charing...one sec...4.9% for 36 months

 

[HappyPuppy]

Save your money and pay cash.

 

[Instan00dles]

Originally posted by: HappyPuppy
Save your money and pay cash.

yea bikes arent that expensive or save up half so you dont get raped too bad at the bank.

 

[Kelvrick]

Originally posted by: Instan00dles

Originally posted by: HappyPuppy
Save your money and pay cash.

yea bikes arent that expensive or save up half so you dont get raped too bad at the bank.

Yea, I was thinking that. But then, I want my bike well... NOW! With say a 10%, I'd be able to pay off 3k in about 10 months which will cost me about 220 bucks to get my bike instead of next year?