Hi, I am looking to buy a motorcycle (my first). Specifically a Kawasaki 250r. I want it new and retail is $4k. I am 18 but do have parents who could buy it since they have credit if you catch my drift. Im really confused and need some help on a couple things though-Should I get a motorcycle loan or a personal loan?-Can you even use a personal loan for a motorcycle?-What are the average interest rates for the better option?-Will this increase my auto insurance for any reason?-How long does a bike like this usually last if well maintained?-Any information on maintenance would be great, (how often to get oil changed, how long brakes and tires last, etc)?-If I were to get a used one, roughly how much would it cost me to have a mechanic verify its in good shape?-Is it worth buying a new one for $1000 more if it doesn‘t have 5000 miles on it? (idk how much is too much)Sorry for all the questions, I just want as much information as possible, thank you. ]
You can get a personal loan for any reason, but you do not need to tell the bank it's for a motorcycle. Get whichever is cheaper. - If you get motorcycle ins with your car ins company, you may get a discount. You can also reduce your car ins if you tell them that you will be driving the car less. - 15+ years of use if well maintained You should not buy a new motorcycle as your first bike. EVER. You will drop it, probably at low speed in a parking lot while learning. Why on earth would you do that to a new bike? Ninjas have so much plastic that is easily damaged and expensive to replace. The 250r does hold its resale value, so you won't likely find a total deal in the used market, but they are out there. Take a personal loan for it and save your $ for gear. Full gear! You could probably get a mechanic to come out and give it a once-over for $75 depending on where you live. Consumables will be consumed. depending on how much you ride! But expect to do 2 oil changes a year ($40 for filter fluid), brakes every year or so ($40+ labor), a year or two with the tires ($150).
Okay so lots of questions lets see how I can do. First I have owned two 250r's so I have experience with them. If you get a personal loan you will not have to keep full coverage on the motorcycle but the interest rate may be more. I can tell you that if you use a kawasaki card you will get reduced rates of interest for some time and they do not required full coverage insurance. Check Kawasaki's web site for current offers on rates. Your auto insurance should go down if you insure with the same company. You will get a discount that way. If a bike is maintained it will last a very long time. Maintenance is more important than anything Else on a bike. Your first service will be 600 miles on a new bike. Then every few thousand miles depending on your riding habits. If you get a used one and have a shop check it, it will cost around 75 bucks (around here anyway - colorado) New or used is a tough one if your financing a new one could potentially cost you less in the end. Run the numbers and judge it for yourself. If your paying cash I would get a used one and let someone else take the depreciation hit. Hope I helped.
The 250 Ninja is not as good a first bike as many make it out to be. It is very user friendly, but is fairly peaky in power delivery. It is also covered in expensive plastics, driving up insurance/repair cost. It is good for inner city use, but not a good choice if you must go on the hiway I got a personal loan, when I financed one while in the military. This provided me a variety of legal advantages- couldnt be repoed for not having full coverage insurance, or even if I defaulted, I had more control in the event that it got impounded, etc so yes you can. But I advise you donot fiance consumer goods. Pay cash. I had no credit, and a 18% interest rate. Your insurance will become unreasonably outlandishly high. It will last forrver if you take care of it. Sportbikes dont die of old age/high miles like cars do. They die when a squid buys more bike than he can handle. Brake tire and clutch wear varies greatly based on your level of aggression. Oil changes are to be done 5kmi, valve clearence needs to be checked, and chains/sprockets are somewhat high maitence. Buy a used bike. Dont pay over $1000 for your first. I recommend a dual-sport if you have never ridden at all.
