Bike financing

So, I’ve passed my test a week ago. Happy as ****:D. Planning to buy a naked bandit 650 (at the moment renting a slingshot125 from getbike). The problem is I’m piss-poor, hence the topic. How would I go about financing? Don’t really know anything about it. Which companies are good? Do some bike dealers do financing themselves directly? Is there a way to get financing for a private seller and is it a good idea? The bike costing about 2.5-3k, I would love to go for something like a £500 deposit and monthly payments of £100-150.

You’d probably have to get a bank loan to buy from a private seller, 2.5k over 2 years would cost about £110 a month…

Normally I would say getting financing is an excellent way to stay piss poor. You are always playing catch up on the things you needed a while back. The best way is to “make do” with something less than you want and save up for stuff. However, if you have to buy something you could get a loan. Do you have good credit history? Got a job? Those things will be important if you want a loan.

**** buying a bandit from new.

Buy a cheap second hander yeah. Cheaper insurance too.

You could get a 600 for less than a grand.

I do always try to have actual cash on my debit card before I buy anything big, but it would take me forever to get enough. I would still need to buy something in the meantime, sell it later on and then buy the bike I actually want. That’s seems like a lot of hassle. Anyway, I do have a decent credit history (no late payments or anything) and a full time job. Should I apply in the bank I’m with?

I’m a bit unsure about buying one of those, since they’re 10+ years old with usually about 50k+ miles on them and several owners. It feels like there is a good chance something will break and I’ll end up paying about the same as if I bought a slightly newer one. That’s why I want to go for 650, which have models from 2005; it’s still used and all, but it’s only about 15-25k miles and from 2007 it’s got fuel injection (silly thing I know, but waiting for the bike to warm up sometimes is such a pain). I could go for a cheaper insurance though:), I did a quick comparison on autotrader and it came up as £1000 per year (£500 if I use a garage though, but I would have to convince my landlady to allow me to use it).

If buying from a dealer, just push them for a 0% finance - despite what is advertised, they can always get it for you. I always get bikes on 0% finance then repay early, but it’s nice to have an option not to have to empty your savings account…

Good advice above!

Do all of them provide finance? Would I need to go to him directly or can I find them online? All I’ve booking looking at at the moment is ebay and autotrader. Never bought a bike or a car before, so I’m pretty clueless, sorry.

Should’ve named the thread “how to buy a bike” instead :hehe:

You’d have to go to the dealer that has the bike you want and ask them to organise the finance - if you convince them that you are serious about buying and that if they get you 0% (or as near to it as possible) finance you will buy the bike - they’ll do it. You can do most of it all by email.

And what would be the best way to find the dealers? Are there more sites like autotrader?

FWIW, honda have the CBR600F at 0% with a £100 deposit last I checked. Great starter bike.

Or just buy Jimbo’s bandit in the for sale section.

autotrader, fleebay or just do a Google search for a particular bike you like and see what sites it comes up on


if you are looking to get a new bike - you’ll find the 0% Finance available on most models, except for their most popular or best sellers, directly on the manufacturer’s website or any dealership. Tip here - unregistered prevous models in the dealer’s stock (2010 - 2012) can still be 0% financed, but you get them cheaper than the current year’s and sometimes with loads of freebies - helmet, leathers, insurance etc.

For used bikes as per above - simple bank loan won’t be any worse than a dealer’s financing since they’re underwritten by the same banks. Just check the moneysupermarket or moneyexpert for the best rate. With banks (your bank or any other) - loyalty never pays off, simply search for the cheapest rate you can get with your credit profile and if accepted - get the money.

I’m probably going to sell my 2007 ER6-f pretty soon. It is a silver one and has 26/27k miles (I think). I’ve just had a new DID chain and new sprockets put on, tyres and brakes etc are all good. Not been dropped, runs GREAT, has a Scotoiler.

I might consider a deposit/monthly payments type deal. I am likely to be moving abroad, so was gonna sell it once I work out a moving date. I could accelerate that. Let me know if you are interested…

Thank you for the offers, it would be nice to buy it from a reliable member of this forum, but I am pretty set on a naked black bandit (love at first sight if you will).

My contract for the bike I’m renting at the moment from getbike ends 22/07, if I haven’t found a good offer for the bandit by then, I might consider other bikes.