I had heard from a buddy of mine that has his bike financed through the same company as me that the company would take a buy out if they could get alot of their money back in one lump sum.

Is this true? Or should I just start paying this thing off with like a starting 4K payment and then like 3k more a month. The balance is at $9,600 at 6.9%. What do you suggest?

I'm deployed right now and planned on paying it off once I got back. I just sent my credit card company a payment for about 4k for that bill. So it's not like i have anything to spend money on. I'm still young and learning the ropes.

So what I want to know is, is this buy out a fantasy, and if so, instead of waiting on that should I just pay it off as much as I can at a time to avoid the interest charge? It was for 2 years at 6.9. Thanks in advance!

I'm posting this in 2 forums to get the best results.

 

Your best bet is to send TWO checks. Send your normal payment, then send a second check and write "PRINCIPAL ONLY" at the top of the check. If you're paying online, I would suggest calling in your payments, just simply state you want make your montly minimum payment as well as an additional principal only payment.

 

Dude... save your sheckles and get something when you get back.

 

What does it mean by principal payments? I plan on paying it off in the next month.

Also, I bought the bike knowing I would be deploying and would be able to pay it off. I should still have over 15gs when I get back even after paying the bike off. Being reserve and collecting BAH when I have no rent to pay helps.

 

if i wer u i would just save $6000 then go to a dealer and probably u can work something out with them..

 

its up to you... whats your situation? are you going to keep the bike? sell it later?

the best bet is to pay it off.... the 6.9% im sure is a promo and after that its like 16-20ish. after the promo is over then youll pay even more for the bike. your best bet is to pay it off before the promo is over only if you plan on keeping it....if not pay off as much that is needed to get the bike at the cost of selling it private. then the buyer/you can just pay off the rest and sell it. so you wont be outta 9,600 outta pocket. this gives you room to sell or keep....GL

 

I plan on keeping it, its my first bike and my love. I just sent them like 5k plus the minimum. Will be paid off in about a month...