Financing a brand new Beta X-trainer?

[230 Sausage]

Would like to get some opinions on this. Full disclosure, I've been trying to rationalize buying a new beta via financing. Quick background before I begin: I've been riding a 2003 Honda crf 230f for around a decade now, and I'm 100% ready for an upgrade. I take this hobby quite serious, as it's a form of escape for me, and getting something new at some point is very important to me. After thorough research regarding my riding style and fitness levels etc, I think the 2018 xtrainer is my winner. This is why I call upon you beta riders out there for your words of wisdom. And here's where I have to decide how I go about buying this thing.

 

I'm in the Midwestern US, and there's seldom beta dealers around my area, definitely a 2hr+ drive to each one. Some offer financing, some do not, as they have to buy these bikes out of pocket once they order them (mom and pop type of shops). As things stand at the moment, I only have the option to finance, I don't have enough saved to just buy cash. That could take... a LOT longer than I'd like, let's just say. I would really like to get something by summer at the latest. So, I have time to think this over and gather a little more cash. And FYI, I'm not interested in buying used from private sellers. I have little trust with that type of transaction. I'm dead set on buying brand new, but it's something I plan to keep for a long time.

 

I may have enough to put (just guessing) about half down (xtrainer $7499 msrp, not sure what the OTD price would be. Guessing over 8k..) and finance the rest. I have very good credit, make payments on time, yada yada. I wouldn't have problems getting approved or making payments at all. I just want to do it without getting dicked by interest rates or anything like that if possible. If that's the case, I'd consider waiting, perhaps.

 

So, what do you beta guys recommend? What have your experiences been with beta dealers? I welcome all opinions!

[FUHL]

I financed half of my Xtrainer..... sort of. I put it on a 0% Credit Card. If your credit is as good as you say, you should be able to get a credit card with 0% financing for one year. 

[Ben500RR-S]

I got a 3 year loan @ 1.9%.  Works out to something like a $250 mo payment and after 3 years something like $200-$300 in interest if I take the loan to term.  The amount of interest to have to pay is almost laughable.  

 

Having good credit is amazing/awesome.  

Edited November 16, 2017 by Ben500RR-S

[redhurricane]

get with your local credit union, they often have better rates than powersports dealers can offer. Pre qualify, then you can shop the dealer you want to buy from. 

[BoogieMan84]

I wouldn’t hesitate to finance your new Xtrainer, especially if you can put half down on it or more. I got my 2016 300 RR with $1,500 down and 2.5% apr, my payments are $170 a month. Your payments should be substantially less with half down. Just make sure it’s a reputable dealer that you decide to deal with. Most Beta dealers are good, but just make sure there’s no off putting reviews and you should be golden. 

[ADVLite]

I just bought a 2018 Beta 500 RR-S. I have an 800 credit score and the best financing I could get waa 4.49%. Over 4 years it's $700 in interest. I put $4000 down.

[FUHL]

0% credit card is the way to go.
I get them in the mail all the time.

[djl2014]

2.75% is best rate I can find. USAA.
Where are you getting 1.9% -2.5% apr?

[Marylander]

I financed my xtrainer too and actually only bought the bike because the credit union had a 0.9% deal going on (this was early 2016). I wouldn't normally finance a toy but, hey, this is practically free money. I refinanced my wife's car at that time too since the rates were so crazy. Interest is not quite as good now.

[Ben500RR-S]

8 hours ago, djl2014 said:

2.75% is best rate I can find. USAA.
Where are you getting 1.9% -2.5% apr?

My dealer, and the credit union they use/go with, had 1.9%.  

As is said, the area one lives in has to do with rates/deals and all that shat.  

[Ben500RR-S]

54 minutes ago, Marylander said:

I financed my xtrainer too and actually only bought the bike because the credit union had a 0.9% deal going on (this was early 2016). I wouldn't normally finance a toy but, hey, this is practically free money. I refinanced my wife's car at that time too since the rates were so crazy. Interest is not quite as good now.

I agree, it is hard to pass up low to almost no, interest.  Again, having perfect credit is everything when it comes to getting the very best rate(s).  

[Bron-Yr-Aur]

I don't even finance my vehicles. Cash on everything.

But if I were gonna do it, an xtrainer would be it. Their resale value is obscene. My buddy had one, rode it a year, and sold it nearly for what he paid for it. Of course, that point is moot if it's one you'll keep indefinitely.

[cachunko]

Cmon Sausage.  You won't be able to make those bad a$$ videos anymore on the 230 ?

I financed my 300RR at a local credit union a couple years ago.  Mine's at 2.49%.  As others have said, I'd look at a credit union before a stealership.

[230 Sausage]

Cmon Sausage.  You won't be able to make those bad a$$ videos anymore on the 230 [emoji4]
I financed my 300RR at a local credit union a couple years ago.  Mine's at 2.49%.  As others have said, I'd look at a credit union before a stealership.

I ain't getting rid of the 230, so don't you worry bout that!

[kbro45]

I can see doing 12 months at 0% on a credit card and paying it in a year, but doing a 3+ yr loan on a dirt bike is kind of crazy.  Once the excitement wears of your gonna be left with a beat up 2 yr old bike that your still paying on.   

 

[Marylander]

9 minutes ago, kbro45 said:

I can see doing 12 months at 0% on a credit card and paying it in a year, but doing a 3+ yr loan on a dirt bike is kind of crazy.  Once the excitement wears of your gonna be left with a beat up 2 yr old bike that your still paying on.

True enough but my previous dirt bike was 17 years old when I sold it. I think I'm safe. ?

[230 Sausage]

I don't even finance my vehicles. Cash on everything.

But if I were gonna do it, an xtrainer would be it. Their resale value is obscene. My buddy had one, rode it a year, and sold it nearly for what he paid for it. Of course, that point is moot if it's one you'll keep indefinitely.

You make a good point about the resale value, I completely forgot about that. I should also mention that I like to leave things stock besides certain guard accessories. I'm sure that helps to a degree.

[basalt]

Cash.

 

Financing anything is not a good idea. Credit Cards are never a good idea.

[kbro45]

cash rules everything around me (CREAM)

[zig06]

Cash is great but just not an option for everyone.  If you have room in your budget and you have all your other bases covered then go for it!  At the same time, I would do some research and even go so far as to select a dealership that I planned on buying it from and try to establish a relationship.  Even if it's a couple hours away.  That's because you may very well have to go back for something (knowledge or parts) so there's no reason to just shop price as long as they are within a reasonable amount then they get the business.

For example, there's a dealership that's 5 minutes from where I work, drive past it every day.  But they're jerks so I willingly drive another ½ hour past my house to another dealership because I feel like I'm listened to and get treated fairly.  Not asking to get my butt kissed every time I walk in the door, but if I'm spending thousands of dollars there I don't feel like I should have to endure any abuse - that's my wife's job!