Car addiction- HELP!!

[bigtyde78]

Just wanted to take a moment to introduce myself. My name is Tyler, and I have an addiction to cars!!

But seriously, I have 3 auto loans, a boat, and a 4 wheeler. I contacted my credit union for a loan on a new motorcyle (new Ducati). They got me a decent rate of 6% for 66 months on a 30k bike- which seems to be in line for "alternative" vehicles like 4 wheelers, side x sides, etc. They pull EX and my score is 723 with a monster profile.

My question is- Does 6% seem high for THIS type of purchase? I have a 2.39 on my 2014 4 runner and a 3.19 on my 2014 S4. I dont really want to take another hard pull or 5 for Ducati to pull my credit again, but the guy swears he can beat 6%.

Any information or ideas from you guys would be helpful. My annual income is over 110k, 4 years AAoA, 9% utl with over 50K available.

[Creditaddict]

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@bigtyde78 wrote:

Just wanted to take a moment to introduce myself. My name is Tyler, and I have an addiction to cars!!

But seriously, I have 3 auto loans, a boat, and a 4 wheeler. I contacted my credit union for a loan on a new motorcyle (new Ducati). They got me a decent rate of 6% for 66 months on a 30k bike- which seems to be in line for "alternative" vehicles like 4 wheelers, side x sides, etc. They pull EX and my score is 723 with a monster profile.

My question is- Does 6% seem high for THIS type of purchase? I have a 2.39 on my 2014 4 runner and a 3.19 on my 2014 S4. I dont really want to take another hard pull or 5 for Ducati to pull my credit again, but the guy swears he can beat 6%.

Any information or ideas from you guys would be helpful. My annual income is over 110k, 4 years AAoA, 9% utl with over 50K available.

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well since I see .99% offered on the website for 3 different models I would lean towards you should apply through him! (just tell him you don't want it shopped around, you only want Ducati's financing or nothing)

[bigtyde78]

Thanks for the response. That was kind of my thoughts as well. If I could even get close to that, give or take a point, that would save me thousands. Just didn't want to get raked over the coals for no reason!

[Creditaddict]

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@bigtyde78 wrote:

Thanks for the response. That was kind of my thoughts as well. If I could even get close to that, give or take a point, that would save me thousands. Just didn't want to get raked over the coals for no reason!

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well since he thinks he only needs to beat 6% to make you happy he might try but I can't imagine a 720+ credit score would not be considered A+ with Ducati which gets that .9% rate so unless it's because of a longer term on the loan, I would not accept a rate higher! if he wants to sell you the bike, he will get it done... but don't let your addiction and MUST have this bike attitude let you take a higher interest just because he "says" that's the best.

[bigtyde78]

I agree with that totally. The bikes that Ducati are advertising isn't one of the ones I am interested in, but if they can do .9% on them I don't know how they couldn't cut it nearly in half. I do buy a lot of toys, but I am not interested in paying more for the same product, which I am sure makes sense

[DrZoidberg]

Definitely try to get that lower rate. 

But I understand. I bought a Nissan GTR because I could. Sold it a month later after I got bored. 

[Remember0]

I hope you have experience on a bike and aren't starting on a Ducati...

(For reference, I recently got my Class M and would love to start with a Ducati Panigale 1199, but I realize how stupid that would be on multiple fronts haha. I'm starting with a Ninja 250 )

And which Ducati??!

[bigtyde78]

I have a GSXR 1000 now and I am looking for more of a "high end" product to add to the fleet. Its a new 1199 Panigale S Tricolore. Not a bad way to shell out 30k if you ask me!

[Remember0]

/drools.

Nice! Enjoy the bike if you end up getting it, it's an awesome bike. Just be sure to go take it to its natural habitat at least when you get a chance: the track!

[mtrsprt]

6% isn't considered a bad rate for a motorcycle.  Most are in the 8-10% range.  They are high risk items, such as boats, RV's, snowmobiles, etc.  $30,000.00 for casually riding a motorcycle and some prestige...... No way.