Hey all,
I am a proud owner of a preowned 2007 650r. I am a first time rider and very excited about this new adventure.
I feel i got a really good deal on my bike. The question i have is this. I financed the bike and got a 21.99% APR. Which is nuts!!! I have excellent credit, but i was told used bikes get much higher rates. Anyways, i am looking to refinance this loan. I was thinking of paying it off with a 9% APR credit card. Does anyone have advice or experience with this kind of situation?
Thanks for any help!

 

That's brutal.....and highway robbery. Go to a credit union, or borrow the money from a family member and offer to pay them 5% which is better than any money market right now. Or better yet, go get a brand new bike and pay 9%

 

hell the 9% credit card is better than the !@$@! 21% rip off!!! I complained when I had to pay a 7% for my bike...

 

credit union is the way to go! im locked in at 7.9 rate

 

+1 on the Credit Union. This would be the best option

 

Pay cash and live on Noodles... lol

 

I'll look into a Credit Union. Thanks for the input.
I could do the cash and eat noodles thing, but my wife would be pissed!

 

Actually you are right, cash IS the best option. But the insueing divorce would cost more in the long run

 

better a 9% credit card than a 21% loan any day.

credit union should be able to beat both.

 

I'm self employed so i have no credit union options, but i think my dad is apart of one. I'll look into it! Thanks guys!