Buying a bike on credit, and insurance?

Originally Posted by Sudoxe

It depends on the cost of the insurance too.

The SV attracts many young riders, and the difference between TPFT and full comp can be more than double (say 600 quid+ more in some cases).

My view on it there aint much on an SV that cant be fixed for 600quid to get the thing back on the road.

Dan

I believe that the guy was talking about a 7K+ Daytona though.
I reckon anyone who buys a bike on finance for that sort of money is
courting with disaster if they don't insure it F.C.
Unless of course they are happy to make the repayments on 'thin air'
if they bin it.

Originally Posted by Steve H

I believe that the guy was talking about a 7K+ Daytona though.
I reckon anyone who buys a bike on finance for that sort of money is
courting with disaster if they don't insure it F.C.
Unless of course they are happy to make the repayments on 'thin air'
if they bin it.

It's easy to write a bike off in the eyes of an insurer, but you've gotta try really hard to completely destroy it.

keep the sv for this year and wait till bout march when the new bikes come out. there will be some great 2nd hand bikes about that silly ppl have traded in after a year coz they want the newer bike. my brother and my mate both bought zx636's on 06 plates earlier in the year. both had less than 2000 on the clock and a few grand spent in nice parts and they paid less than 6k each compaerd to like 7k for a new one

Wow opened a tin of worms ere i think.

my brain is telling me to wait and save the pennys but ive had that really annoying erge well more like an addiction to get the daytona for months now,

wish i never went for a test ride now, i think i might be able to afford the bike on finance and get FC because my dad said he would pay some towards the new bike to so maybe with my bike part ex and a deposit i can afford the repayments easy, if my dad would do the insurance for me.
still it will make me feel sick him paying that much on insurance, i hate insurance companys with a passion, luckly i have always had TP only and never had to make a claim.

would advanced rider training bring my insurance down much? i have been meaning to do it at some point.

Cheers for the opinions still think im guna be thinking for a long time what to do

[ethariel]

Look at it this way, sure you can use a lump hammer and get virtually any bike 'Back on the Road, after an off, however insurance payout even if you are unlucky enough to bin it of your own fault sure takes the sting out of things a little bit. Less lump hammer, more eye candy fixed.

Truth be told, IMHO, if it has no plastic on it then TPFT is reasonable even if new, however as soon as you look into the cost of plastic it makes an upped premium less distastefull (unless you like the cafe racer look) as the cost of even 3rd party replacement plastic is a tough hit in the wallet.

Colin

Originally Posted by wtdafk

ook,

I was told by a person at work today that if you buy a car/bike on credit you have to get it insured fully comp? is this true i havent a clue.

thing is i have two options.... Triumph are doing 0% on there credit deals on the daytona 675 and i really really really want one!!

i can wait untill september untill i have the funds and i will also have a years no claims under my bet and thi will enable me to get slightly cheaper qoutes.

at the moment i am getting quoted £1000 to £2000 for fully comp and that is just out of the question so thats why i need to know about the insurance when buying with credit.

the qoutes for third party are only £370!! thats only £70 odd more than i pay for my SV for third party so i could live with that.

i know i am just really impatient but i dont want to miss out on a summers worth of riding if i wait.

can you guys please anser my question. and any advice would be really helpful.

Thanks

just wait, no point wasting your money,
you'd be suprised how much your insurance comes down after a few years of no claims,
my insurance halved once i got my 1st no claims.
now after 3 months no claims, im paying just under 25 percent of what i paid in the first year, and thats with an accident under my belt.

Hi everyone!
still having trouble deciding on this one, just a quick question really.
When insureing a new bike do you insure it for the price you payed new or the value it is worth once you drive it away?

Originally Posted by SoulKiss

You dont HAVE to go fully comp - but you would be an idiot not to.

Scenario, you drive off the forcourt, misjudge the next corner and the bike goes under a bus.

Not an unlikely scenario.

In July '98 I bought a brand new Firestorm, rode off the dealer's forecourt at 12-30 and by 12-35 with only 2 more miles on the clock it was on its side on Norwich ring-road with an articulated lorry braking like mad to avoid it. New tyres, a little too much throttle and down she went.

The artic didn't hit the bike and only £1000 worth of damage was caused by me dropping it, but I was dead glad I had comp insurance just in case the truck hadn't been able to stop.

Opps guess what i done......












well im going to look around for the extra £350 so i can go fully comp just to be safe, well im soooooo exited !!! bike will be ready in a week!

ok

same question as before do i insure it for the value i payed or what its worth when i drive it away? dont want to pay extra if an insurance company wont caugh up all the cash.

il be sticking round here still as the triumph forum is a bit quiet.

grr i cant wait

Normally if you take out finance with the bike as the security and depending on the lender, you may need fully comp ins. If you take out an unsecured personal load you can take out what ever insurance you want because the load in unsecure. But then the risk is totally yours.