I am thinking of buying a new 400ex, I wanted to know about financing, is it a smart way to go or not? How much will u have to pay a month and for how many months? Also could u trade in a second hand quad as pert of the down payment? The reason I ask all this is because I really want a 400ex soon, I’ve bean trying 2 sell my warrior for 2 months and it an't going well[img]i/expressions/face-icon-small-sad.gif[/img] would it b smart to finance a new one or just get second hand?

Thanx!

 

aney one?

 

Go to a dealer and see what they will do on a trade. Ask them about financing as they often offer financing. They can tell you the payments. Payments will depend on interest rate you can get which will depend on your credit rating and what they have to offer and how long you want to finance it. Yes, the value of your bike can be used as all or part of your down payment.

Once they tell you how much you need to borrow and for how long call your bank about a loan for the same amount and time and see what their payments will be.

It is always better to sell yourself as dealers give you very little on trade in value. And, if you can find a good one, it is a lot better to buy used.

Selling yourself and buying used will be the cheapest route.
Trading with the dealer for a new one will be the most expensive route.

The advantage to a new one is you know what you are getting and have a warranty.

Check out the trade in deal and financing at the dealer and go from there - that will give you an idea what you are looking at to get one quick with the least amount of hassle. If there are 2 or more dealers you can go to then by all means shop around for the best deal - it can vary widely on trade ins. Play one dealer against the other for your business - remember, you are buying, and you have the power, don't let them make you think they are doing you a favor taking your trade in or arranging financing. They make money on both so have a little patience for a good deal if you go that route.

Hope this helps

 

Everything depends on something else. -- The best way to go is to sell your quad and then purchase a new quad with cash. Depending on if you have the cash and you can sell your Warrior.

You can trade your quad in but I doubt it will help you much. You'd be better off reducing your current asking price on the Warrior. Trade in value depends on the NADA or KBB trade in value for your area and how big of a jerk the salesman is.

New or used? It really depends on your financial situation. Can you afford the monthly payment? Do you have any other debt? If so, it would probably be better to buy a cheaper used model so you don't over extend yourself. You don't want to regret taking on the payment a few months down the road.

Hondas loan is pretty staight forward. You could be paying on the loan for 1 to 5 years. It all depends on your down payment and if you pay anything extra per month towards the loan. Or if you're able to pay it off early.

Say that you take a loan out for $5300.00 for 4 years at 6.9% interest. The monthly payment would be $126.76. Total interest would be $780.13. Total cost would be $6080.13.

Maybe you should reduce your asking price a little or advertise it somewhere else. Then take the money from the Warrior sale in as a down payment. Watch the dealers don't try to charge a lot of extra charges. Ask them for the total price including everything. Remember to shop around.