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Oorah!
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1,140 Posts
Discussion Starter #1
Ok guys, this is a big one.

I'm trying to get most of my financial things done and title things done before I go to the military.

What I want to do is this, I figured why not?

I have a 2007 Yamaha R6 that the dealership is gonna give me $7500 on for a trade in. What I wanna get if i do this is the 08 Yellow with flames. I need to know this, should I? Reason i'm doing it is to have the bike under my name, and I might as well get a new bike before I go to the Army.

Is it worth doing?

Will the bike be under my name if my mom is the co-signer?

Reason i'm doing this is because I hear what ever vehicle is in the Fort must be registered to the military personel. So lemme know guys!

This will probably be done this saturday. i would get an r1, but I'm into light, quick with turns. Every one tells me, Get an R1 it's a mans bike. I don't pay attention, the R6 is what got me hooked to bikes so i'm sticking with it!

So let me know guys.
 

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Oorah!
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1,140 Posts
Discussion Starter #4
We didn't get a loan. We're paying out of our pockets. I owe 6000
 

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We didn't get a loan. We're paying out of our pockets. I owe 6000
that doesn't make sense. if you owe $6k, you had to have taken out some kind of loan..

i would just stick with what you have. you'll be away anyways..
 

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Oorah!
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Discussion Starter #6
We financed through them.Idk, my mom does the paperwork. I just give her the bike payment.
 

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Yea so your mom has a loan in her name, and you make the payments. If your mom will co-sign for you (sounds like she will if its already fully in her name), then get a loan in your name, her as the co-signer. Register it in your name and your set.

Plus, if they are really giving you $7500for your used 07, they must be raping you on the new bike to make up.
 

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Oorah!
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1,140 Posts
Discussion Starter #8
It's about 11 OTD. What should I look for?
 

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I'd say keep the bike you have, and continue making payments to your mom. You're only losing money by upgrading dude.
 

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Oorah!
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1,140 Posts
Discussion Starter #11
I guess ya'll are right. I just can't get a loan off the bat, i'm only 18.
 

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Premium Member
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Get a loan and have her as your co signer, that way you can pay off her loan and transfer the title to your name. Then continue paying your loan
 

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Oorah!
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Discussion Starter #13
Would the interest be lower on the loan? Perhaps?
 

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USC
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552 Posts
i would stick with ur 07..
but dang 11 otd shit..maybe its just texas
but in socal u can get it for like 9.8 otd

im 18 too and ive been tryin to get my 06 raven
since ur goin to the military man i would say u keep ur 07.
and have ur mom pay off the loan and w/e she owes left.
trasnfer the title and then u will have it in ur name
and u send her money as the months go by.

just explain to her ur situation with the military.
if she would co sign im sure she'd understand.
my parents wont even co sign haha...
im on my own. (with the bike)

interest would be lower from banks if ur mom has good credit.
i think if u should that interest to the dealership
they MIGHT try to beat it.

give it a shot...u can try the new 3 year plan that yamaha has.
3 years 99 bucks a month or something.

http://www.yamaha-motor.com/sport/webpromo/currentpromos_R1R6_details.aspx


 

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You don't have to have the vehicle in your name, You have to be on the insurance and you have to have a notorized letter from your mother with permission to ride the vehicle on base. I had to go through that crap when I joined the Air Force, My dad eventually just signed my Camaro over to me.
 

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The registration only needs to be in your name...or have your name on it. That is all post requires.
 

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Oorah!
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Discussion Starter #17
Ohh, alright. Sweeeeet. I even talked it over with some other guys and then came up with the conclusion. I'm at about 45% done with payin the bike, why go back up to 990%+?

So i'll keep the 07, and have the permission notorized.
 

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ew dont join the military. im in the army and i hate it. if u do decide to join tho, remember that its VERY hard to get out without damaging ur permanent record unless u just do ur time. but yea im 18 yrs old and bought my 08 R6 on Dec 29th 2007 and i got a loan through the dealer. u have to pay approx. $281 a month to pay it off in 3 years. if you dont pay it in 3 years the interest goes up from around 8% to around 23%. i make about 650 every 2 weeks at E-3, i have a bike payment and a phone bill that adds up to about 380. the military pays for food and housing also. take into account that ur state might require insurance (mine doesnt) so u would have to add that bill in. just thought id throw some of my thoughts in there. i love my bike but if u dont like debt, dont get the new one, stick with what u have. besides, its only 1 year model diff.
 
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