Anyone have experience with used bike loans? I purchased a starter bike, cash about 6 months ago. I'm itching to upgrade to a used Triumph Daytona. While I could probably afford one, cash, this would completely clean out my bank account. I'm thinking of pulling out a loan. Went to my bank yesterday and the banker couldn't help me without VIN numbers.
My scores are in the 750-760 range, any guess as to what kind or rates I could qualify for? Maybe the rock bottom used car rates? Also, the full coverage vs. Liability is almost 8 times more expensive.. any way I could add $1000-$1500 to the loan so I only have one payment to consider? Amount of the loan would be $4,000-$6,000. I'm torn between a 3 or 5 year term.
