Private or Trade? Loan or Finance?

Couger · Trackday Trickster Joined: 01 May 2002 Karma :

Hiya folks,

With regards to going for a bigger bike under my restricted licence, ive got a dilema in that im not sure to go for a private bike, or pay a little more and go for a trade bike.

Now the advantages of getting a bike from a dealer which appeal are that they can get a 33bhp kit fitted for me, and I can then ride the bike home, where as if I go for a private bike id have to get it delivered and then restricted (lots of hassle).

Either way which have you peeps found the best in your personal experience, getting a bank loan and buying a private bike, or buying a bike from a dealer and paying by way of finance.

To give you some information im 19 and am looking at going to an R6, as I have been quoted £830 TPFT for one which I think is pretty good. Im interested in 1999 bikes in the £3500 area.
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djm · Two Stroke Sniffer Joined: 21 Aug 2003 Karma :

well a lot of private sellers have their bikes already restricted...you just really gotta check around and that....as for a loan/finance,..again,...i'd check around for the best deal-lowest pay back APR. check with your bank & others....take your time.....you'll be sorted & ok. gd luck matey.... Wink

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CB500s.

Demonic69 · The Pink Rhino Joined: 31 May 2002 Karma :

I'd say go for private with a Loan unless you get a decent offer at a bike shop. It's worth paying the extra £100 for the warranty you get. But private's usually cheaper.
A loan's almost always cheaper than finance and you can always sell the bike to pay off the loan. Harder to do with Finance.
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G · The Voice of Reason Joined: 02 Feb 2002 Karma :

I would agree on the private. I have seen so many more dodgy bikes sold through dealers than privately. If you then add on the extra you're paying as well as the usually-higher finance costs it's a better bet most of the time.

That is an unbiased view, but this may be of interest to you Smile

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Couger · Trackday Trickster Joined: 01 May 2002 Karma :

Cheers for all the info people.

G, is that someone you know at all selling that R6? It doesnt say where he is or how much its going for, or his e-mail!

Cheers again all.
Cougs.
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Bendy · Mrs Sensible Joined: 10 Jun 2002 Karma :

It's G's flat mate 'Dusty' who frequents this site too.

Dusty · King of the Rim Joined: 25 Mar 2003 Karma :

It be me

I'm in Reading, It going in the next bike trader @ £3675ono, and my mail is Alex-Rhodes @ ntlworld.com (remove the spaces). You're welcome to pop round and have a gander at it anytime.
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Couger · Trackday Trickster Joined: 01 May 2002 Karma :

ahh ok!

Heya Dusty. Thanks for givin me the info, I'll probably drop you an e-mail soon. Im currently in the process of getting everything sorted for buying, went into the bank to do some account set up stuff today, and will be looking at loans etc.

When Im all sorted Ill let you know If Im going to ride up to see the bike, Reading is a bit of a trek for me! Very Happy

Ill look out for it in Biketrader, and if I dont get sorted in time to have a peek, good luck selling, looks like a wicked bike!

Cougs.
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