How To Get The BEST FINANCING Deal | Tips From A Salesman

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[@TexasCardShark]

I got my bike financed thru Suzuki at 1.9% and made all the payment with my cash rewards credit card which had 3.0% cash back on purchases. So the bank had to pay me 1.1% back. BETTER THEN PAYING CASH. My credit score is 800 plus.

[@axelvega2899]

w

[@dznuttzonyachin7499]

hey here is an idea 💡 stfu

[@TexasCardShark]

@@dznuttzonyachin7499 Loser!

[@joshuamorales1095]

Mind if I pick your brain on credit building strategies?

[@TexasCardShark]

@@joshuamorales1095 Less inquires, on time payments, and wait about 5 to 7 years.

[@davidleoncampbell]

My bikes are not toys.....I use them to commute to work (76 miles round trip) and ride 15,000-17,000 miles per year.

[@Firestorm637]

Nice job. Totally agree on 3 years is the longest to finance. Longer than that, you are buying too much bike. You end up too underwater and after 3 years you may be tired of the bike. When someone states they can only afford $150, that is usually there max and some dealers will make it $160/month and your already stretching it Many of these bikes show up for sale a few months later. When my son turned 16 we went to a dealership for a car. I was trading in a SUV worth $12,000 wholesale. I told my son, watch how these dealerships try to rip you. The guy offered $8000 for the SUV because it was a gas hog and nobody was buying. I told my son , let’s walk to the door and this jerk will meet us at the door. He did and offered, $10,000, I said no, he came back $11,000 and I said $11,500. Sold. You can not be ignorant negotiating. I hate the dealership experience as they will take advantage of you.

[@SonicBoomC98]

I did 3 years on my scooter

[@Blottski]

Just goes back to: "never finance the toys"

[@AlanRoberts-qw4sh]

Did you have full coverage insurance for your scooter? While you were making payments.​@@SonicBoomC98

[@ChristianKustomz]

Good stuff. Thank you for all of the information. I gotta say that I love what SRK does for us and the principles that it’s built upon.

[@chrisarroyo1431]

Wow... I made pretty much every mistake I could have back in the day when I bought my first nice bike... Now I know why it felt like it took forever to pay it off!!

[@GirlArmy21]

All good points. No longer than 3 years. I was looking at Can-Am Ryker....I was going to add on a bunch of accessories to my financing....I was going in blind. Now, I am going to buy my own accessories separately, buy my gear probably used....and talk to my bank first so I know what a reasonable interest rate should be vice at the dealership. Thanks so much for the video.

[@RockNeurotiko]

Oh man, the last tip is a really great one when buying a new bike, thanks for the video!

[@carpenterrick186]

I'll just keep riding my KLR650 and buy another after this one. Cheap reliable fun!!! Great video Caleb!!!!!

[@4drumz-662]

Thank you for cutting the mandals and man-feet out of the frame 😆

[@kasewilliams6848]

One thing you didnt cover was the people who get 72 month loans and pay them off in a year or two. Just about covering our ass if things don’t go as planned the next year or so

[@tygruber4773]

i know this is an old post but i’m looking for a bit of advice-23 years old i have state job (Florida) making roughly 2k-2.2k a month. I want a Honda CB300R and for some reason they’re scarce in the used market and when they are there, it’s within less than a grand of the MSRP of a new 2023 model. I wanted to put down ~2500-3000 and then pay off the rest in about a year or so. i’m paranoid af about financing but i don’t want to have to wait insanely long bc these bikes are hard to find rn

[@RedMageGaming]

Haha, I didn't even know you could roll your gear into the financing deal, that's hilarious. Good tips all around, I know my credit is fairly shot so I'm just squirreling money away for a bike, keeping my eyes open on the used market, but also on dealerships because no one is selling the bike I want used, so I'm sitting here putting money aside on the idea that I can either choose to get one of the bikes I'm looking at or go to a dealership with a heafty down payment and finance the rest over a year or two. I'm looking at what I can afford overall that also fit's inside my desires for a bike. I would love to be able to throw 10k at a bike, but I just don't have that kind of income to drop 7 or 8k down and finance the rest. But I could potentially drop 5k down on a 7k bike and finance the rest of that without issue if it came to it. I might end up going that road depending on how all this goes down with the pandemic. My dream bike would be the Africa Twin, but I think that's probably just a little more Bike than I really need, So I'm looking for a 2019-20 CB500X as it's a little more reasonable of a bike for me and my time spend riding. Trying to find one locally isn't working out too well though lol. Lots of 2016 CB500F and CB300Fs around though.

[@dwaynewood8156]

if its a open ended loan you can take it for a year or two longer and just make a few extra payments and you wont pay as much interest and you will pay it off sooner

[@darrenwilliams3398]

It seems like they require a really high credit score even for a 5-6k motorcycle

[@jont.3243]

I'm guessing the thumbs down came from finance guys working at a dealership 🤔 🤣 Seriously tho, thank you for sharing this info.

[@andrewtheodorethomas]

The guys at Hannums HD Media and Brandywine are hawks. They scoff at a sportster and try and make you feel like a loser for wanting one and then they put pressure on you to finance a bike for more $ than the one you came to pay cash for and then pry into what your monthly budget is. I was very upset at all this. Upset at their tactics and the fact that they thought I was stupid.

[@Srkcycles]

That sucks

[@LiLsIcKViDeOs]

We need advice from a scammer lol they give out the best advice because they k ow what people like them do. Keep up the honest work

[@germanium1872]

These Caleb videos are cool.

[@94SexyStang]

IMPORTANT!!!........make sure you have PIP(personal injury protection) on your policy!!!(basically a mini-health insurance policy, which covers Rider and Passenger for $5,000-25,000 in damage)....it covers things like Ambulance, ER, X-Rays, and personal damage, etc.......because your normal insurance policy WILL NOT cover this!! And you're gonna be stuck with the bills....happened to my brother....normal insurance ONLY covers the Person, Property and Vehicle you hit......Not yourself........State Farm didn't even Have PIP for riders....so I dropped them immediately!!

[@michaelburns5104]

PIP is limited to the state in which you live. Not all states require it as an option (insurance is regulated by the department of insurance in your state) or even have the option. In other states what you want is Property Damage (covers damage to your bike in the event of an accident regardless of fault} and Comprehensive (covers your bike against acts of nature like falling trees, theft, vandalism and such), usually subject to a deductible. These are optional coverages and will increase your premium. Ditto Medical Payments coverage which, similar to PIP, provides coverage for medical incurred as a result of an accident. These are absolutely vital coverages if you ride. If the car who hits you only carries state minimum coverages, the coverage for your injuries may max at as little as $15,000. When an ambulance ride can cost you $3,000 or more, that's not much coverage. And if the accident is your fault--minimum coverage only provides coverage for the other driver(s). After that's tapped out, the whole thing drops on you in the form of law suits. Progressive has great coverages, allows low deductibles and even builds in Emergency Roadside Service. In a lot of cases, this isn't true--especially of the lowest-cost providers. I understand they even build in Emergency Roadside Service (full disclosure--I'm not insured with Progressive but have ERS with AAA Motorcycle) Nobody advertises the best coverage. They advertise the cheapest option, which is NOT going to cover you or your property. I encourage you to read your policy jacket (not just the declaration page) and know what kind of coverage you want. There is a good chance you'll be paying more than the advertised monthly premium, but you'll ride with peace of mind.

[@gabmax1013]

Is it possible to negotiate the freight or prep fee?

[@TheDaiquan32]

Great info man. Appreciate that !

[@thewheel2023]

Thanks for the good advise

[@tennesseemattoutdoors5405]

Good info right here.. I have caught myself for sure on the time spent looking for the perfect bike when paying with the green and not financing

[@jhawk78]

If You have no credit established you might as well forget it they won't approve notta.. even if you don't have any debt you wont get approved if no credit established

[@d.e.a.t.h2258]

Thanks for this video man help me alot

[@kevinbarry71]

As he says, for most people a motorcycle is a toy. As I say, if you can't afford to pay cash, you cannot afford it. Don't buy it, you'll never have any money going through life like that.

[@mirandaacevedo6558]

Mmmm he never said that

[@DennysPlantBasedJourney]

enjoying this new series. keep it up

[@fullthrottle2stroke]

God bless. Informative knowledge about this topic. -Joshua.

[@germanium1872]

That was a lot of good information.

[@markmcgee4255]

Cool vid I like it the only thing I would ad about financing is then u will have to have full coverage insurance so u pay 150 a month on bike then insurance is 300 a month now u in to it 450 a month

[@Fadecountier]

This Was Great!

[@dznuttzonyachin7499]

When you see paperwork how many different figures do you see ? MSRP ? Final Price? Financed total payment ?

[@bradgarrett7790]

So I am buying a harley tomorrow. I have a GM Rewards card and it has no interst for 1 yr and I got until august of next year before that goes away.. Should I use it to make a substantial down payment? I am thinking it would bring the monthly payments on the bike down to a comfortable level like $100 less a month to right around $300 a month. 0 down payment I am looking at $400 a month.. I make damn good money but its all commisiion and I dont know when a slow month or two will creep up on me and my paycheck. so i want the lowest payments possiblle.

[@johnnycashbenham1192]

Or don't worry about it and pay cash

[@LobbsTrucking]

One thing I’ve experienced with motrocycle shopping, Harley financial SUCKS!!

[@MadStylee619]

Wow thank you guys

[@GMXR7]

How long does it take to hear back for approval or denial?

[@airenesivad2975]

Good tips same and even much much more for a home loan

[@otdcrear]

One ? Is the rate the same as your budget??

[@HJ-sn5gt]

Caleb: Slow down! A Credit Union isn’t finance but cross collateralization and company store master, sir. Your Bank sucks; just finance through the dealer if you don’t have cash. As for “back end,” please eat sh*t! If you can can’t afford the motorcycle, you should buy a Service Contract or other Protection Products (Warranties are Free). Nothing is a credit card, unless your a credit criminal.

[@ytsiege]

Finance Credible Source

[@giom5543]

So should we not use the dealers banks?

[@ttjbiggunner2025]

Glove video please

[@jermainejpshepherd2778]

I'm never gonna finance a bike. The full coverage is murder most times.

[@sambeezy007]

Yeah if you want a 600cc+ bike. -500cc is better

[@pureforce56]

YOUR LOGIC IS SOUND....

[@balius9268]

This is what the people want to see

[@iimgbillyrock]

what insurance deductible do most lenders require on a financed bike? I'm assuming 500$

[@mikeibarra4304]

How would I know my rate?

[@Brandoon117]

Is that a Harley behind you to your leftish and If so what year and model?

[@castironporterhouse7169]

If you have degenerative arthritis in one hip and back. what would be a good motorcycle to buy just to ride around the city not long haul.

[@Ninja_S1000RR-R]

Honda NM4

[@LifeHackVideo]

Hi friend nice teach 👍 👍 👍 👍 👍 👍

[@isaiparedes1172]

Question. So I found a kawasaki z650 for 5,699. If I go into a dealership and offer 5k flat for the bike do you think they would take it?

[@b3twiise853]

No

[@sincerelysirsinatra3686]

Are you saying start with a 5000 dollar down payment

[@KJcinemas]

so, im trying to finance a bike around 12.5k . so i may not have the best credit, little on the low side, but if i put about 4-5k down, do you think that would be enough to get me approved? Thank you!

[@brayann__]

how’d it go ?

[@joem2241]

Also curious if you have an update on this?

[@KJcinemas]

I didn't go for it, im just focused on building my credit the best I can

[@slickwill2623]

Ok... Good video... My question is what if i financed through honda for a new left over inventory an pay it off early? Any drawbacks.. Lol i already have the bike an got it with no money down at 6% interest on i believe it was a 4yr loan

[@bonnevillebagger9147]

Slick Will just make sure your extra goes to principal.

[@cisco9882]

What credit score was through a credit union?

[@thomasrenfrow609]

Don't let Sheffield shaft you, lol.

[@Ricky-fy1yi]

Got 6k thinking of financing my bike which is 12k

[@bmwrider1931]

How was Sean’s ride? Did he make it?

[@Srkcycles]

We may never find out

[@adrianageraldo7621]

Like can i get a bike for like 500 dow

[@enriquemejia5861]

Yeah if you have badass credit or it's a 5k bike

[@aedanhickey5264]

Is it worth buying a bike that was made from 1980-2000?

[@barrybambmessagedeletedbyy7467]

If the price is right.

[@jeremyfinn586]

Not as a first bike unless you are a mechanic by trade

[@Daddy-Saxon]

Guys I'm 14, how can I start building my credit?

[@travthomas37]

Kràzy Buttèr wait 4 years

[@canyoncain]

If your mom or dad has good credit. Ask one of them if they can put you on their card.

[@sassed12many]

Never finance a bike or a car, or furniture or appliances, or anything but a house.

[@Srkcycles]

The largest study of millionaire shows that most of them do not carry debt Expedia ll year on vehicles

[@sassed12many]

@MegaSkilla Sounds like tax fraud to me. Far as I know, cannot deduct interest of your personal toys as a tax writeoff. And I'm pretty sure most people are not an S or C corp

[@bonnevillebagger9147]

That’s the absolute truth. Debt=slavery

[@winner1338]

I rather pay interest to go work and earn money than can't go to work because i don't have a car.

[@pasha_houston]

On my 7th bike now, all cash bought. Looking at '21 ninja 1000 (sport tour) close to $10k know I can sell my current Tuono for 5 and would have to loan 5, not quite sure if Id be happy making payments. As much as I want my new bike I might wait. Your video helped me with all the info I could ask for. Thanks.