NOTE: After doing the math I’ll be doing the plain black ABS one, planning on custom painting in the future anyways, wish I could just get the solar in red instead of orange

 

Sorry I can't answer I didn't finance mine. You will enjoy the bike though once you get it.

 

Ask them if there is any pre-payment penalty.

 

Most places don’t have a prepayment penalty but you should make sure to ask. As far as interest rate, I honestly don’t think you’ll get 8%. It will be more like 15-20%....That’s not what you wanna hear and I could definitely be wrong, I’m no expert and don’t claim to be. I’d say expect around 140 a month depending on actual interest and down payment. This is financing about 4500 of it for 4 years at 20%.

 

Hey I came here for honest replies not what I wanna hear ? I’m hoping I can get a co signor but no one wants me to have a bike so probably not lol

 

I financed my 400 through the credit union I have my car loan with. My score was 612. Not horrible. Not great. I was getting interest rates through the dealership at like 19%! No thanks! Anyway, my credit union came through with 9.5% and my payments are around $130/month for 36 months with a $1700 down payment. My credit union will only finance 80% of a motorcycle's value. I'd say wait a little bit longer and try to get your credit score polished up a bit and then try again.

 

I let the dealer do the financing. My credit score is 667. I ended up getting approved for 7.99% fixed. I didn't plan on putting anything down but they wanted $500. My otd price was $6170.

 

I know you posted this over 2 years ago but I’m in nearly an identical situation as you getting ready to get a 400. Did they finance you at 36 or 48 months? Trying to figure out what my payments will be. Thanks man.

 

I qualified for the 0% interest for 12 months promo with the Kawasaki Credit Card. I’m not sure what the minimum credit score required to qualify but it’s probably 700 or above.

My suggestion is that you try to secure a loan from another bank like a credit union. The interest rates may be better and then you may have more leverage and ability to negotiate better loan terms including lower interest rate with Kawasaki and the lenders they use.

Just keep in mind when you apply for a loan it will usually involve a hard inquiry which could decrease your credit score a few points each hard inquiry.

I monitor my credit scores monthly and for some reason I did not get a hard inquiry when I applied. I think it’s because one of the banks Kawasaki uses is Citibank and that’s the lender I requested to apply for the financing. I have a Citibank credit card so the bank probably did not require the hard inquiry.

 

Powersports is very different than auto financing which comes as more of a "luxury item" APR will be very different depending on several options, the loan term and credit score and debt to income. 6-8% is very common for a 3-4 year loan.

 

I financed my bike through my bank navy federal. My credit score at the time was 635. I got approved for 6k at 11% which I then went around and looked at dealerships that would sell the bike at that price OTD. My monthly payments is set at $135. I always recommend financing because if you’re responsible enough it’ll pay off in the long run...credit wise that is.

 

I went with Kawasaki financing because they were the same interest as the Credit Union.
I put $1000 down and got 6.5% My credit score is 780....The payment was $115 but I put it on Auto payment and pay $135....No prepay penalty....

 

I'm going to throw my 2 cents of wisdom in here. I don't think financing is a good option unless they are offering a 0% APR AND are reducing the price because you are financing AND you have the money sitting in the bank to pay it off before any interest payment is applied. You should never buy a toy with money you don't have.

I see lots of young (and old) people make this mistake and by taking on debt that could have been avoided.

Also, never cosign with somebody. There is zero advantage to the cosigner and if you need somebody to cosign on a few thousand dollar purchase, it simply means you can't afford it in the first place.

Sorry if I am being a killjoy but I've seen people hurt by these financial mistakes. Better to save up your pennies and buy things when you can afford them. Again, not here to judge anybody, but take this advice from somebody who has worked for their money and now has a 7 figure net worth.

 

Man I guess I'm lucky. Traded a 03 FZ1 for an '18 blue one and financed it through kawi credit card for $2500 0% intererest for 12 months.

Bought a 2013 R1 in 15 with zero miles. Financed 7500 and got a 3.75% interest rate for 5-6 years? I can't remember. My credit score is in the mid 700s and I'm almost 30.

But everything invenio said... don't pay for outrageous interest rates for a toy. Honestly the Ninja 400 is priced pretty high compared to other bikes you can get on the used market. I set myself a goal of not buying one unless the difference was 2500 or less.

IF you do decide to go to a crazy finance rate best advice i cant give you is pay most of the principle off in the first year or as much as you can afford. The way loans work is they charge most of the interest on the front end. That's where you'll realize the most savings in money spent on interest.

 

Nice to see your going with the fastest color, I also have black abs. Welcome.

 

You would need to update your address at a bare minimum. Also, you may be charged foreign exchange fees if you use the card in a different country than the origin. Not sure what you mean by "money remain on the card." A credit card is offering you,... well credit,... so there is no money of yours on the account, it's a short term loan that you are going to pay off the following month.

It sounds like you may just want to open a credit card in the country or local bank. You can find zip codes for any town by just googling the town or using google maps to click on an address that is close to where you plan to live.

 

Invenio, Is there any possibility bmiikol could be talking about a pre-paid card? My son lives in Hungary, and has in the past, had to be creative to transfer funds. Just wondering.

 

If he is talking about a prepaid card, then it's not truly a credit card by it's very definition. If it's a prepaid card, it most likely can be used anywhere they take credit cards, but again, foreign transaction fees may apply.

 

Welp, if you can finance a bike under 3 years I say do it. But never ever lease a bike. Bc your having to put more money down and pay longer terms.

 

I don't believe there is such thing as leasing a bike, however some banks/motorcycle brands off you a jumbo payment finance or Balloon Loan meaning you pay half or considerably less the normal payment on the principal amount and at the end of the loan term <36 months usually you either have to pay it off or go trade it in for another model.
Its a good model for people who can't be patient and save up or can't fully afford to finance a bike. On an N400 there is probably no such thing, but BMW for example has a "ride easy" program which gives you a low payment for 36 months and the you trade it in for your buyout.

Much appreciated. Definitely wasn’t easy. Also kinda sad that I literally only wanted to build it so I could finance a bike lmao. That was my sole purpose. Who needs a house right?

That might change when you're not in mid 20's, rent is expensive in cities and outskirts, sometimes owning(not in this current market) is cheaper than renting. I'd recommend paying double each month and sinking that loan payment to zero, even making a small 20-$50 payment helps; it will build your credit much stronger than making a credit card payment on time and in full. Building credit is showing you can afford to borrow & manage money while paying it back on time, and when a loan is satisfied it will boost your credit and show you had a line of credit on your report.

I remember that time when I had problems with creditors because I always chose the wrong microfinance companies. That period was ****, I didn't always have money to pay off loans, I always borrowed from friends. I ended up in a financial pit. At that moment, I realized that I needed some advice to help me. I found this site: moneyexpert.com they answered a few questions, advised me who to ask for help to turn to reduce the huge debts I had and how to credit them at a lower monthly rate than to be able to cover that on which I took from microfinance companies.

Feel free to never come back here.

 

And there lies the rub of the question. Until a loan officer knows your personal financial information, they can not assign an interest rate. A person's ability(risk) to repay a loan, or not, will determine the interest rate. But until that rate is established, any loan calculator is unable to give you 'monthly loan payments'. Most dealers are happy to help you finance if they can. They may, or not, be higher rates than your personal banker. But they may be able to finance you when your banker will not.

 

I’m not worried about being able to get financed, I’ve worked hard to get my credit up over 700 ever since I walked into the dealership in 2016 to buy an R3 and they said “no way in **** youre getting financed, your credit is below 500.” So it’s been a mission to build it but 4 years later I have good credit. I’m just wondering if a bike that MSRP at around 5500 is gonna run you a 3 or 4 year financing term. Obviously that dictates quite a different monthly payment. I guess it’s not a good question to ask though, it just depends on the person

 

Usually, I think you can pick the terms from 1-7 years and they will give you quotes for whatever you want. I would think a 7 year term would end up costing a fair bit of money over the long run. I am pretty sure the finance companies would love to give a 30 year loan out...years ago I watched a Ford dealership set up a loan for an older hispanic man that spoke very little english but he had a good job. They set him up for 9 years at 22% for a pick up. I hope those Bozos burn in their afterlife!! Sorry to go around the long way!! You can pick the length of the loan and your down payment, they will give you the best they can find (and get away with).

 

Thanks bud. Didn’t even consider the added interest for longer terms. I’m pretty new to financing. Mid 20s, all my vehicles have been purchased on CL haha

 

I remember that time when I had problems with creditors because I always chose the wrong microfinance companies. That period was ****, I didn't always have money to pay off loans, I always borrowed from friends. I ended up in a financial pit. At that moment, I realized that I needed some advice to help me. I found this site: moneyexpert.com they answered a few questions, advised me who to ask for help to turn to reduce the huge debts I had and how to credit them at a lower monthly rate than to be able to cover that on which I took from microfinance companies.

 

WIth a 537 credit score Im gonna guess youll be in the 15-18% apr range. No you dont get penalized for paying it off early.

 

I have a question! My co-signer has a 635 credit score ofc I don’t have any because I’m just started my credit but I don’t have a down payment would we get approved?

 

Asking the lender or dealership would give you a better answer than random people on the internet. Ultimately the lender makes that decision anyway, so there's no one better to ask. My guess is if they approve that, you'll have a very high interest rate.

 

Invenio. That's sound advice. Based on previous discussions... there are a few on this Forum who've postponed purchases over the years... decided to retire a little earlier than most... and can now enjoy making those purchases when they like... or at least when their spouses say it's OK.