Ninja 400 Riders Forum banner

21 - 31 of 31 Posts

·
Registered
Joined
·
111 Posts
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.
You can look up a loan calculator on Google. I wouldn't trust the dealers math.

Should be as simple as the financed amount times interest divided by length of loan.
 

·
Registered
Joined
·
731 Posts
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.
 

·
Registered
Joined
·
5 Posts
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
 

·
Super Moderator
Joined
·
1,221 Posts
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).
 

·
Registered
Joined
·
5 Posts
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
 

·
Registered
Joined
·
111 Posts
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
You can get financing at your bank. Tell them the bikes info and they will finance you, then send you to the dealer with a check.

I'd trust my bank over the dealers financing.
 

·
Registered
Joined
·
211 Posts
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.
Origination date: May 05, 2018

Maturity date: Dec 04, 2023

so 66 months ?
 

·
Registered
Joined
·
1,355 Posts
You can get financing at your bank. Tell them the bikes info and they will finance you, then send you to the dealer with a check.

I'd trust my bank over the dealers financing.
THIS! I've always gone through my Credit Union for financing my vehicles. My bike is the only vehicle that I actually paid in cash. But yes, choosing your personal bank or your credit union typically gives the best interest rates. 💯
 
21 - 31 of 31 Posts
Top