Advice on motorcycle finance?

[CluelessDeath]

Hey guys.

So I just decided to look into getting a motorcycle again, preferably something around the 600cc mark(Last bike I had was only 125 so I don't want to go overkill). Thing is, I want to get it through finance as I don't have the cash to straight out buy one, and I only want to spend around 30-40k.
But now the problem with that is that I think for that price and engine size, the bikes are usually really early 2000s or late 90s and even 80s.

From what I know about car finance, or atleast MFC as they're the only one I've actually looked into, they don't provide finance if the vehicle is 10 years or older(unless its vintage etc).

So are there any recommendations of finance companies to speak to that would be able to help, if it is even possible to get finance for what I'm looking for? I could go through a dealer but then its usually the issue of paying more than what I would if I did a private deal.

Sorry if this has been asked already.

 

[Cxb3r]

@Shadow maybe you can assist ?

 

[CarboVan]

Wesbank states:
The car you buy must:

• Be sold by a private seller (not a dealer or a manufacturer)
• Be worth R30,000 or more
• Be less than 20 years old (but can include classic cars - terms and conditions apply)
• Not be stolen or recovered (code 3)

I cant seem to find anything bike related on their site though.. :/

 

[DannyBoyOPC]

Wesbank states:
The car you buy must:

• Be sold by a private seller (not a dealer or a manufacturer)
• Be worth R30,000 or more
• Be less than 20 years old (but can include classic cars - terms and conditions apply)
• Not be stolen or recovered (code 3)

I cant seem to find anything bike related on their site though.. :/

Yeah not sure if they do bikes, however if it’s private and a older model be preferred to get hammered on the interest rate


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[MajRod]

Banks do not finance motorcycles sold privately. They are seen as leisure items.

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[sabie]

Banks do not finance motorcycles sold privately. They are seen as leisure items.

I've had a privately sold bike financed through WesBank. Same rules apply as what does for cars.
Had a cash deposit and did 31k finance at the time. Had no issues getting them to finance it.

It was a 08/09 Yamaha R6

 

[souljazk]

My recommendation - save up and buy it cash. No interest & you're in the power seat to neg with the dealer / seller.

 

[SILTECH786]

@D3TTOL

 

[sabie]

My recommendation - save up and buy it cash. No interest & your in the power seat to neg with the dealer / seller.

^ This

Don't owe anything on my current bike. Best feeling in the world. Especially when it's Italian and spends more time broken in the garage than running.

 

[∀Z‾soʇɐuɐɥ┴]

Especially when it's Italian and spends more time broken in the garage than running

How is this a good feeling? Having my bike stand because I cant afford fuel for it hurts worse than my break-up after a 9 year relationship.

 

[PsyWulf]

I've had a few through Bikefin

 

[∀Z‾soʇɐuɐɥ┴]

I've had a few through Bikefin

Mine is also through bikefin, but as said in original post, cant finance bikes older than 10 years through them.

 

[Anth0ny]

Just go through to fire it up and chat to the dudes over there.

You can finance bikes for sure, same rules apply as vehicles.

Just keep in mind that interest rate will be higher (13-14%) as it’s a leisure item.

If you do finance I would push your budget up to 60-80k and just get a brand new one (or young one)




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[Maximums_Rickimus]

Its best not to buy a bike on finance unless you really need it for daily commuting. Interest rate is very high and risk is also very high. Also, naturally (depending on the bike of course) insurance is dark hole that will continue to swallow your monthly income long after you have paid off your motorbike.

Just my two cents but if you are buying a bike for yourself my advice would be to go straight for a 1000cc, especially if you plan on financing it or keeping the bike for a while. Although 600cc bikes are fast they soon leave you wondering what the 1000cc feels like and before you know it you are back on the market looking for something bigger. Especially if you are a motorbike enthusiast.

 

[Tatty]

Just go through to fire it up and chat to the dudes over there.

You can finance bikes for sure, same rules apply as vehicles.

Just keep in mind that interest rate will be higher (13-14%) as it’s a leisure item.

If you do finance I would push your budget up to 60-80k and just get a brand new one (or young one)




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Went to Fired up looking for an RR, and they had absolutely no interest in selling one to me. Practically stood there with their arms crossed and had no intention to try and sell it to me.
Won't go there again.

 

[Anth0ny]

Went to Fired up looking for an RR, and they had absolutely no interest in selling one to me. Practically stood there with their arms crossed and had no intention to try and sell it to me.
Won't go there again.

You are not the first one to say this actually, now that I think about it I think they have overgrown themselves. I just thought of fire it up because of all the ffing adverts I'm seeing.

 

[CarboVan]

go straight for a 1000cc,

Well that escalated quickly... With a 40k budget and coming from a 125cc you suggest a Liter bike? Wheres that dislike button...

 

[Maximums_Rickimus]

Well that escalated quickly... With a 40k budget and coming from a 125cc you suggest a Liter bike? Wheres that dislike button...

I'm sorry but you are clearly uninformed...

 

[CarboVan]

How so? Please inform me then..?
He stated his budget and ideal cc and clearly said he does not want overkill.
So yea, jumping to an expensive liter bike that you can pretty much write off if you drop it in your driveway is really not good advice at all.
Ideally he would also like to try test ride whatever he wants to buy if possible. Guys don't generally like bike test rides but they do happen. No way in hell anyone with a 1000cc would let someone that has been on a 125 take their bike out...

Good luck with this exciting journey @CluelessDeath ! Hope you find a beaut 🆒

 

[DannyBoyOPC]

Well that escalated quickly... With a 40k budget and coming from a 125cc you suggest a Liter bike? Wheres that dislike button...

As per this suggestion, with that budged and coming from a 125cc , why not look at the KTM Duke 390.
Their are a couple of 2015 models with mileage ranging between 10000-20000km that can be had for a maximum of R40k.

 

[Spectaitor]

As per this suggestion, with that budged and coming from a 125cc , why not look at the KTM Duke 390.
Their are a couple of 2015 models with mileage ranging between 10000-20000km that can be had for a maximum of R40k.

Would you recommend the Duke or the smaller kawa Ninja?

 

[Areola Grande]

I've read quite a few stories of that Duke 390 engine having issues. Kawa may be more reliable.

 

[DannyBoyOPC]

I’m biased in this cause I myself own a duke 390.
Most of the reviews I read was that the pre 2015 models had a few problems with them being changed or corrected in he 2015 model.

I have also seen som horror stories with regards to the 2017 models. But those will be out of the 40k price range. If their are in that range, well then u should be worried


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[Maximums_Rickimus]

...

 

[Fife]

Although 600cc bikes are fast they soon leave you wondering what the 1000cc feels like

I disagree ...Everyone has their own needs/wants.

I got a 08 CBR 600 RR as my first "big bike" after my Aprilia RS125...

Not once did I ever think "I wish I had a 1000cc" when driving that beaut.

 

[Kamikaze]

I saw you mentioned you will only be able to get fairly old bikes for your price range. Just thought I'd point out a few 600cc bikes that's basically within your budget and that's still in great condition. Cheers

Motorcycles for Sale in Eastern Pretoria | Gumtree Classifieds Eastern Pretoria

Find Motorcycles for Sale in Eastern Pretoria! Search Gumtree Free Classified Ads for Motorcycles for Sale and more in Eastern Pretoria.

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Used Cars for Sale in Centurion | Gumtree Classifieds Centurion

Find Used Cars for Sale in Centurion! Search Gumtree Free Classified Ads for Used Cars for Sale and more in Centurion.

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Used Motorcycle for Sale in Hatfield | Gumtree Classifieds Hatfield

Find Used Motorcycle for Sale in Hatfield! Search Gumtree Free Classified Ads for Used Motorcycle for Sale and more in Hatfield.

www.gumtree.co.za

Motorcycles for Sale in Other Eastern Cape | Gumtree Classifieds Other Eastern Cape

Find Motorcycles for Sale in Other Eastern Cape! Search Gumtree Free Classified Ads for Motorcycles for Sale and more in Other Eastern Cape.

www.gumtree.co.za

 

[Mikel89]

The previous 390s have head issues. Don't.

 

[DannyBoyOPC]

The previous 390s have head issues. Don't.

what year models and any info on the head issues you mention?

 

[Cookie]

Honda steed 600cc 😃 no regrets

 

[CarboVan]

@Maximums_Rickimus
My powers of deduction are pretty weak but I think you just called me a gutless cunt? And that for simply stating it's a bad idea for a novice to jump to a 1000cc? Well done.
I never attacked you nor questioned your ability or own experiences... No need to get personal.
Fact remains that even a 600 will already stretch his budget, thus a 1000 will definitely tip it over the affordability gap. Nevermind the insurance cost difference. It's not just about the finance amount.

W.r.t your rationalization, 0-200 between a 600 and 1000 is actually very close. It's only beyond that when the 1000cc start to shine.
Sure a 600 is already fast and arguably also not fit for a novice, but at lower speeds and rpms it's surely more manageable than a 1000.
If you weigh 110+ and often have a pillion rider, and you live in Gauteng and want to do 300km/h for a 200 kilometer stretch, or you find yourself running out of revs on the track on a 600, by all means grab a 1000.

As has been said already, it all depends what you are going to do with it.

From Kamikaze's listing, I will +1 the ER6 n/f. It should outlast all of us