Kawasaki finance 0%

[Guest]

Hi guys I was thinking about getting new bike as Kawasaki offers finance 0% over 3 years I thought that might be good deal. So my question is if any of you have tried it before. Is it hard to get it on finance? Im working on full time earn around 19k/year dont really know my credit score. I dont have a credit card but I do have set up direct debits for my phone and internet bills for about 2 years now and never been late with payment. The bike I would like to get is Kawasaki er6n. Im going to contact them next week but before I wanted to ask you for opinion. Thanks

[fullscreenaging]

There is only one way to find out to be honest, and that is to go to your dealer.

There will be loads of replies along after this post about this that and the other, but your circumstances are completely different from everyone else's. What one company is looking for in the ideal person to lend to is different from another company.

The cheapest way to find out your credit rating is to on Experian's website and take advantage of the free 3 month trial and you will have instant access to your file. Just make sure you cancel in time before you have to pay.

Even if you have a good rating you could still be turned down without any explanation on the reason.

You will need a good size deposit for a 0% deal though, sometimes up to half the value of the bike.

Good luck.

[Guest]

You will need a good size deposit for a 0% deal though, sometimes up to half the value of the bike.

Good luck.

 

The monthly repayment depends on the deposit.. and that starts from £99 minimum. Obviously the more deposit you can pay, the lower the monthly repayment.

I would definitely look at my credit score before applying. applying for credit and being turned down has a major impact that lasts a fair few years. best to know where you stand before applying. I would also suggest applying with a decent deposit.

[RantMachine]

Other stuff factors in too; your residential status, marital status, any joint bank accounts, etc.

[Whitey1984]

If you sign up with experian: www.experian.co.uk/CreditCheck‎ you get a free 30 day trial, that will tell you what your credit score is, just remember to cancel before the 30 days so you don't get charged their monthly fee

[Bigralphie]

In my experience its easier to bike finance than a bank loan

[NearOn]

I think you will get it easily. A few years ago even during financial state country was in, my other half was approved for a 4k bike on her part time pay and average credit score. I was quite surprised but they want the custom.

Also try noddle credit report, is 100% free forever and provides you with just as much information as the likes of others.

[DreamytimeEscorts]

You will need a good size deposit for a 0% deal though, sometimes up to half the value of the bike.

Good luck.

 

The monthly repayment depends on the deposit.. and that starts from £99 minimum. Obviously the more deposit you can pay, the lower the monthly repayment.

I would definitely look at my credit score before applying. applying for credit and being turned down has a major impact that lasts a fair few years. best to know where you stand before applying. I would also suggest applying with a decent deposit.

 

Credit searches stay in your file for six months. Defaults and how you use credit lasts for up to seven years.

[Stu]

Defaults and how you use credit lasts for up to seven years.

 

6 years from the date of default then it drops off

unless you have made payments then things change!

[XmisterIS]

This thread is interesting to me; I'd like to buy a brand spankers z1000sx with panniers, full akrapovic, etc. I could get one on 0% from my local kwaker dealer and pay it off with the right money at the right time. BUT, I never use my credit card, we have no mortgage (haven't done for years) and have never borrowed before (haven't needed to - just worked hard for overtime pay when i needed money). In a nutshell, I've worked incredibly hard, always been in the black, and over the course of 20 years built a solid financial base and never taken out credit. What will that mean for my credit score?

[Guest]

Credit searches stay in your file for six months. Defaults and how you use credit lasts for up to seven years.

 

we were both wrong.. a credit search remains on file for 1 year. and defaults.. 6 years, this according to Equifax and Experian.

[fq-craigus]

This thread is interesting to me; I'd like to buy a brand spankers z1000sx with panniers, full akrapovic, etc. I could get one on 0% from my local kwaker dealer and pay it off with the right money at the right time. BUT, I never use my credit card, we have no mortgage (haven't done for years) and have never borrowed before (haven't needed to - just worked hard for overtime pay when i needed money). In a nutshell, I've worked incredibly hard, always been in the black, and over the course of 20 years built a solid financial base and never taken out credit. What will that mean for my credit score?

 

Computer says no

Unfortunately model financial citizens like yourself have no data proving they are a reliable source to py back money, and the worse part of it is the financial bodies will steer clear because they see you as not contributing to the countries growth as intrest pays their wages. Although....... Its not been unknown for someone like yourself to get finance so give it a go

[eastanglianbiker]

This thread is interesting to me; I'd like to buy a brand spankers z1000sx with panniers, full akrapovic, etc. I could get one on 0% from my local kwaker dealer and pay it off with the right money at the right time. BUT, I never use my credit card, we have no mortgage (haven't done for years) and have never borrowed before (haven't needed to - just worked hard for overtime pay when i needed money). In a nutshell, I've worked incredibly hard, always been in the black, and over the course of 20 years built a solid financial base and never taken out credit. What will that mean for my credit score?

that could often give you a poor credit score as it means companies cant earn a lot of interest on payments out of you so you are not worth lending to

[NeilM]

I'm in the same position Xmin

Worked every hour god sent for 20 odd years. Therefore have a terrible credit rating.

I think the world's gone mad....lol

[Stu]

This thread is interesting to me; I'd like to buy a brand spankers z1000sx with panniers, full akrapovic, etc. I could get one on 0% from my local kwaker dealer and pay it off with the right money at the right time. BUT, I never use my credit card, we have no mortgage (haven't done for years) and have never borrowed before (haven't needed to - just worked hard for overtime pay when i needed money). In a nutshell, I've worked incredibly hard, always been in the black, and over the course of 20 years built a solid financial base and never taken out credit. What will that mean for my credit score?

 

it means you have a shite credit record

credit scores are a myth you dont have a "score"

they look at past lending and make a decision based on that

finance on cars and bikes are the easiest to get as its secured on the bike/car even easier if you have a decent deposit

if I was you I would start doing your weekly shop on your credit card and save the money that you would normally use then pay the card off as soon as you get the statement

[Woodman]

When I worked hard ,paid cash , had no mortage or loans I couldn't even get a HMV card lol

I couldn't get a bank account even when I tried to change banks.

But bike shops seem to give finance to anyone

[NearOn]

I work hard in a fairly good job but I certainly won't be in the position anytime soon to pay for things like houses, bikes, cars with cash. Renting with a small family it's impossible to save even for a deposit on a mortgage. Go back 20 years and you could get a decent house for a good price. Now for a new 3 bed box house it's over £200,000 in this part of the UK.

We are due some inheritance soon which of course no one wants family to pass on but unfortunately for me and many others is the only way to get a deposit together.

[asharin]

I paid a £200 deposit on my ER6N, I pay £139 a month.

My credit rating is shit due to my ex, but my dad helped out...the agreement is in his name but the payments come out of my account lol

[fullscreenaging]

I paid a £200 deposit on my ER6N, I pay £139 a month.

My credit rating is shit due to my ex, but my dad helped out...the agreement is in his name but the payments come out of my account lol

 

You haven't got finance then.

They don't care what account the money comes out of as long as it comes out.

[XmisterIS]

I work hard in a fairly good job but I certainly won't be in the position anytime soon to pay for things like houses, bikes, cars with cash. Renting with a small family it's impossible to save even for a deposit on a mortgage. Go back 20 years and you could get a decent house for a good price. Now for a new 3 bed box house it's over £200,000 in this part of the UK.

We are due some inheritance soon which of course no one wants family to pass on but unfortunately for me and many others is the only way to get a deposit together.

 

This to me is the thin end of the wedge - we live in financially frightening times. When I bought my first flat (2 double bedrooms, separate kitchen, allocated parking space) in 1998, it cost me £35K. A single graduate engineer on £16,500 (which was my starting salary) could afford a mortgage on that, plus I had minimal debts from Uni because I was one of the last years for whom Uni was free, and I got a full grant. 17 years later, the same flats in the same block are are selling for £180K. That's roughly a 500% increase in 17 years, while starting salaries in the engineering industry have increased by about 30% in the same period, and Uni is £9000 per year, and you can't get a grant anymore. It's patently insane; and it's not "real" money, because when you're on the housing ladder, you are buying and selling in the same market, so it wouldn't matter if the flats were £1.80 each or £180,000,000 each! It just fuels the debt culture which, one day will go BOOM in a very very big way - it will make the 1927 stock market crash, and the crash we've just had, look like penny bangers.

[Joeman]

I work hard in a fairly good job but I certainly won't be in the position anytime soon to pay for things like houses, bikes, cars with cash. Renting with a small family it's impossible to save even for a deposit on a mortgage. Go back 20 years and you could get a decent house for a good price. Now for a new 3 bed box house it's over £200,000 in this part of the UK.

We are due some inheritance soon which of course no one wants family to pass on but unfortunately for me and many others is the only way to get a deposit together.

 

This to me is the thin end of the wedge - we live in financially frightening times. When I bought my first flat (2 double bedrooms, separate kitchen, allocated parking space) in 1998, it cost me £35K. A single graduate engineer on £16,500 (which was my starting salary) could afford a mortgage on that, plus I had minimal debts from Uni because I was one of the last years for whom Uni was free, and I got a full grant. 17 years later, the same flats in the same block are are selling for £180K. That's roughly a 500% increase in 17 years, while starting salaries in the engineering industry have increased by about 30% in the same period, and Uni is £9000 per year, and you can't get a grant anymore. It's patently insane; and it's not "real" money, because when you're on the housing ladder, you are buying and selling in the same market, so it wouldn't matter if the flats were £1.80 each or £180,000,000 each! It just fuels the debt culture which, one day will go BOOM in a very very big way - it will make the 1927 stock market crash, and the crash we've just had, look like penny bangers.

 

that's why the BOE dont dare raise the base rate from its all time low...

they know people are already overstretched and on the brink, so any rise in the base rate will bankrupt a large portion of the population.

[Fozzie]

There's been one or two housing crashes in the last few decades from what I've seen in historic research I've done as I'm a prospective property buyer.

Right now look at London, the house prices are rocketing wildly, but Manchester has out accelerated London in terms of economic growth for a good few years running.

No one is really taking in the big picture, but that means London has hit a peak. And with prices still flying up this is what eventually can cause a major crash. If the economy has a problem now where it gets a knock, the housing market is so much bigger that it has a lot further to fall.

It will do that one day, it could soldier on for a while yet but we'll see.

[2WheelViper]

In my experience its easier to bike finance than a bank loan

 

Agreed!

[DreamytimeEscorts]

I got 0% finance on an FZ1 eight years ago. It seems like a good idea but you're still chained to monthly payments. I had a six month bike to part-ex so my repayments were very low but it's still a commitment. As was previously mentioned, there's only one way to find out and if finance is your only option then 0% is better than anything else although with 0% you will be paying full retail price on the bike.

[Joeman]

In my experience its easier to bike finance than a bank loan

 

Agreed!

Yes it should be. Finance is a secured loan, so if you don't pay, they repossess your bike to repay the debt.

A bankloan is unsecured so if you don't pay its a lot harder for the bank to get their money back.