SV650.org - SV650 & Gladius 650 Forum - View Single Post - uh oh- curvy vs pointy

Red ones · 24-07-05, 10:53 AM

I would never buy a car or bike on a credit card:
firstly one day you forget to move the money
secondly it is unsecured.

Get a loan secured on the vehicle. This is then viewed separately in any future credit check plus the value of the outstanding credit is only ever compared with the value of the vehicle and not against your house, your tv or any other item in your possession.

Screw down a low fixed rate deal and bear in mind how long you think you will keep the bike. (If you think you will have it for 3 years, finance over 2 - what you don't pay on the loan in year 3 becomes your deposit on the next bike - you increase your equity that way and the next bike, usually bigger and more expensive, does not work out so expensive)

For what you would pay on credit cards it probably works out just as much to take the 0% deal from the dealer.

There is always good advice at MSN Money on this.

24-07-05, 10:53 AM	#5
Red ones Member Mega Poster Join Date: Jul 2003 Location: Hertfordshire Posts: 1,422	I would never buy a car or bike on a credit card: firstly one day you forget to move the money secondly it is unsecured. Get a loan secured on the vehicle. This is then viewed separately in any future credit check plus the value of the outstanding credit is only ever compared with the value of the vehicle and not against your house, your tv or any other item in your possession. Screw down a low fixed rate deal and bear in mind how long you think you will keep the bike. (If you think you will have it for 3 years, finance over 2 - what you don't pay on the loan in year 3 becomes your deposit on the next bike - you increase your equity that way and the next bike, usually bigger and more expensive, does not work out so expensive) For what you would pay on credit cards it probably works out just as much to take the 0% deal from the dealer. There is always good advice at MSN Money on this.