So I have an idea and want some opinions

[Anonymous]

I am looking to buy a motorcycle in the next month or so.  I want a street bike and insurance on those and for myself run higher than other types of bikes.  So if I got a personal loan I would have to get full coverage which would double my insurance about.  According to BoA, I have until July to do a balance transfer or from what I am told, I can call them directly and ask them to put x amount of  money into my checking account out of my current CL which would be 0% until July then 9.99% (my current interest rate)

Would this be a smarter move then financing and getting a personal loan which would be about 12.99%, I would be looking for about $5,000 either way I went with it.  Just having full coverage on the bike is the thing that really makes me want to put the bike on my card.  But its also 3% cheaper per month in interest.  Is there anything I am not seeing here or would the CC idea be the wiser choice?

[Creditaddict]

wouldn't you want full coverage on a brand new bike?

and why personal loan, why not motorcycle financing at the dealerships, don't they have some special financing offer. 

[Anonymous]

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@Creditaddict wrote:

wouldn't you want full coverage on a brand new bike?

and why personal loan, why not motorcycle financing at the dealerships, don't they have some special financing offer. 

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It wouldn't be a brand new bike, new bikes are like $10k.  I would want used as my first bike.  And I don't want full coverage because I don't have the greatest driving history and sport bikes are much more expensive to insure.  I was qouted as much as my car if not more for brand ne.  Financing at dealerships again, requires full coverage and they have low apr's but they last for about 2 years then the loans apr goes up.  And again, I wouldn't be buying new.  The one I did find is from a private seller, not a dealership

[Anonymous]

You should consider that BofA is trigger happy to increase APR. Which means you can bepotentialy stuck with much higher APR than 12.99%.

[Anonymous]

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@maks1806 wrote:
You should consider that BofA is trigger happy to increase APR. Which means you can bepotentialy stuck with much higher APR than 12.99%.

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If that was ever to happen I could just get the personal loan and pay off the credit card.