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Discussion Starter · #1 ·
I won an 83 650t with 26k miles on eBay for $12k and sent $500 deposit. Any suggestions on where to finance? Playing voicemail tag with credit Union.

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The problem I think you are going to have is that a normal bank or credit union is going to use the book value for loan basis. NADA lists the value on a 650T from $1200 (fair condition) to $7000 (excellent condition). You are going to need to come up with the rest either with cash, or by adding collateral (lien on house, car or other item) In reality, They will likely borrow you based on a midpoint of the book value - $2000 (good condition) - $3500 (very good condition). Typically it is a good idea to discuss with your financial institution prior to purchase and get pre-approved. Then you are good to go.
 

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Discussion Starter · #6 ·
Why would you bid on something you don’t have the funds to buy?
I could liquidate some investments but currently at a loss, so trying to avoid that. Sound like a personal loan is the best option then. My credit Union has not been very good at voicemail tag so I may just go online. I just moved for work so need to switch credit Union but thought the one I had history and direct deposit with would be the better option, it's just an hour from new place is all, not terrible.

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In Oz most loans for older bikes would be"unsecured personal loans" at bout 16% interest.

As older bikes and cars sometimes become "money pits"...if you need to take out an initial loan maybe vintage vehicles need to be put on hold.....no offence meant

But as stated...if you really want it and own your house get a secured loan using your house as guarantee....
 

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Ummmm.....I got a loan from "Vinny" down on the boardwalk in Atlantic City. He assured me I would have the payments to him on time, lol!
 

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Discussion Starter · #10 ·
Thanks for the suggestions, I bought an old car before but it was only $3500 so didn't need a loan. Crypto is where my losses are currently, worst case, 401k loan but the fees on that are crazy so yeah I really want one of these......

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Is this thread for real?
 

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So you buy a Honda CX650 Turbo and you don't have the money for it.
My advice: first save a few years money until you have enough for the buy.
Advantage: you don't need a loan and you save a huge amount of money.🤑
But as always: I want my donut and I want it now😤
 

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Mid life crisis : I got to have one of those before I die. Life is short, go for it.
 

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shouldnt you have investigated a loan before you placed your bid ?
 

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Another sermon won't get you your dream bike but w/o a financial statement telling us your history of payment -currant loans-assets- income hard to help. Obvious you will be paying a premium but if you can bunch up payments you can cut the cost. Visit a few loan agencies & get an education.
Paul
 

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Parents?
 

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Discussion Starter · #20 ·
Another sermon won't get you your dream bike but w/o a financial statement telling us your history of payment -currant loans-assets- income hard to help. Obvious you will be paying a premium but if you can bunch up payments you can cut the cost. Visit a few loan agencies & get an education.
Paul
Thanks and 90k a year but have old debts to pay off when I only made $15 an hour plus going through divorce

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