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Old 07-15-2013, 12:25 AM   #21
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Originally Posted by clr8ter
Well, you have to pay it somehow. They're not going to just say "Oh, well, you want another bike? OK, never mind your loan."
And that's why I was asking what would happen to it in regards to it transferring or the shop paying it off and me getting a new one...
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Old 07-15-2013, 12:31 AM   #22
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??? That's between you and the bank, really.....they'd be the ones to ask....

If it were me, sell the bike, take the money and pay off the loan. If you don't get enough for the bike, you have to make up the difference. Then go buy a new bike. You'll probably get more for it id you sell it that if you trade it in. Don't forget , the dealer has to make some money on selling it, and they can't sell for more than retail.....

Why don't you just hop up the one you already have?

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Old 07-15-2013, 12:55 AM   #23
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You only have one real viable option, and that isn't really an option if you owe more than the bike is worth and don't have the difference saved. What you would have to do is save enough money to cover the difference between what you can sell it for and what you owe. The day you sell it you and the new buyer have to meet at your bank and he pays his agreed sales price to the bank and then you pay the rest. Then the bank can release the title to the new owner. Then you go buy another bike. That's it. There is no other option.

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Old 07-15-2013, 02:16 AM   #24
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Yeah I got kinda hosed to begin with since I didn't have anyone go with me and was 19 at the time trying to be sneaky. And I got the extended warranty and what not so that was tacked on to the price too
Listen to your elders, please...

you're attempting to make a bad situation even worse and heading down a path of extending out payments and piling financing upon financing. It's an absolutely awful and very expensive position. By the time you get out of debt, they new bike would be what, 6 or more years old. If you don't mind a 6 year old bike, then go buy one.

My advice, stick with this bike until you're less upside down, preferably until you can pay cash for the new bike, or sell it and suck up the loss.

Add how much that new bike is truly going to cost after you've made all the payments. Then ask if the bike is worth that 25,000 (or whatever the number comes out to be).
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Old 07-15-2013, 02:26 AM   #25
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Why did you buy the one you have now in the first place shag? Did you not like it to begin with? if you are unhappy with it now, what makes ya think you will be happy with the next one a year into it? Im just sayin'

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Old 07-15-2013, 02:36 AM   #26
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Why did you buy the one you have now in the first place shag? Did you not like it to begin with? if you are unhappy with it now, what makes ya think you will be happy with the next one a year into it? Im just sayin'
I got it for gas mileage haha and I loved it when I got it, and still do, does exactly why I got it. I'm a power junky and was slightly scared of them at first so I got a smaller 600 but that scared feeling changed quick, especially after riding my buddy's 1000 haha power power power and I'm not necessarily in need to trade it in at this very moment, I was just wondering what options there were since I've never dealt with any of this before and don't want to be screwed over some how
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Old 07-15-2013, 02:42 AM   #27
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simple fact. if you try trading in at about a year into the loan, you're gonna get screwed. as a general rule, until you are over half way through the period of time the loan is for, you are going to take a heavy loss. best advice is to hang on to it for at least another year or more before even considering trading it in on another bike.

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Old 07-15-2013, 02:45 AM   #28
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Is the new coveted bike at the same dealer you bought the other bike? Sometimes they may give you a good price for the old one to let you trade up just to get you in on a bigger loan. Otherwise if you really need it, sell it first, take the loss from the first loan, and then get the bigger faster bike. Ya sure you don't want/need a Hyabusa to end up with down the road, since they are faster than the new one you want?

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Old 07-15-2013, 02:49 AM   #29
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Quote:
Originally Posted by Anna_Purna
Is the new coveted bike at the same dealer you bought the other bike? Sometimes they may give you a good price for the old one to let you trade up just to get you in on a bigger loan. Otherwise if you really need it, sell it first, take the loss from the first loan, and then get the bigger faster bike. Ya sure you don't want/need a Hyabusa to end up with down the road, since they are faster than the new one you want?
Actually the one I'd really like is faster than the ol busa and no it's a completely different brand and down in Texas
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Old 07-15-2013, 03:32 AM   #30
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Slower bikes lets you enjoy the scenery better, faster bikes well.......type in motorcycle accident and see for yourself if ya really want to know.

Im just sayin'


Enjoy whatever one ya decide on and be careful on that thing!

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