Insuring a street bike?

gotchu99 · 03-09-2016, 12:48 PM

I

Quote:

Originally Posted by Duc_Z09

Tell him to get State Farm; I insure my Ducati through them. If he's young he's boned regardless because rates for young dudes on street bikes are outrageous. This is because street bikes turn even responsible drivers into complete hooligans (*ahem*

) and young dudes are idiots to begin with. Definitely don't put him on your policy.

State Farm is the best. I pay 180.00 for the year with full coverage on my 09 softail.

Chuck33079 · 03-09-2016, 12:51 PM

Quote:

Originally Posted by gotchu99

I

State Farm is the best. I pay 180.00 for the year with full coverage on my 09 softail.

Given that he's young, buying a sport bike and his credit is bad enough to not qualify fo a $6k loan, I'm guessing his insurance will be higher. Eye-poppingly higher.

mishuko · 03-09-2016, 01:15 PM

Quote:

Originally Posted by vrizzo53

Thanks for all the input I read every single post and took everyone one in our account, like I said I'm not longer insuring him. I will still co sign the loan, he can't sign for it himself because his credit isn't established now a days you need a cosigner to even get a foot in the door... I'm not worried about him skipping... he has money that he inherits I'm not worried one bit about him skipping on the payments...he will have it paid off in a few months... he just got a SC on his 300srt Chrysler so that's why he needs a loan for this. He should have it paid off with in 5 months. Thank you all again God bless. Again I appreciate all the information and input from each and everyone of you

1) if he's working a job his credit WILL improve
2) there are ways to inflate your credit rating in the short term (google can help with that)
3) if he can't get it now, try again in 6 months

anecdote of myself -> i had a 5k CC and was looking to get a 5k LOC as well which got immediately rejected (i was working for about 8 months at that point)

1 year after the rejection i was getting pre-approved credit increases every other month and in total the amount of credit available was way more than 10k. a LOT more actually.

he should wait and save a bit before he does anything imho. whatever your uhh his money is his call.

Quote:

Originally Posted by Chuck33079

Given that he's young, buying a sport bike and his credit is bad enough to not qualify fo a $6k loan, I'm guessing his insurance will be higher. Eye-poppingly higher.

oh probably has a bad driving record too which wouldn't help the cause

Chuck33079 · 03-09-2016, 01:18 PM

Seriously, what's wrong with waiting 5 months and doing the deal then so he doesn't need a cosigner?

ajm216 · 03-09-2016, 03:17 PM

Check out Motorcycle Insurance: Rider Insurance, Motorcycle Insurance for New Jersey, Ohio, Pennsylvania, West Virginia, Indiana, Maryland, Delaware, Virginia, Michigan prices..

JARblue · 03-09-2016, 04:30 PM

Quote:

Originally Posted by vrizzo53

I will still co sign the loan, he can't sign for it himself because his credit isn't established now a days you need a cosigner to even get a foot in the door... I'm not worried about him skipping... he has money that he inherits.

Check that the payment is made by the due date of every month and pay it if it is not already. This will save your credit in case something happens and your cousin flakes.

Rusty · 03-09-2016, 05:43 PM

The other thing is if he is late on making payments. That goes against your credit rating.

vrizzo53 · 03-09-2016, 10:57 PM

Quote:

Originally Posted by JARblue

Check that the payment is made by the due date of every month and pay it if it is not already. This will save your credit in case something happens and your cousin flakes.

Yeah that's all, I'm going to do exactly that hopefully I can monitor it online if not I have no problems calling once a month.

03-09-2016, 01:18 PM	#34 (permalink)
Chuck33079 A True Z Fanatic Join Date: Nov 2011 Location: Houston Posts: 12,265 Drives: 2011 370ztt Rep Power: 29538	Seriously, what's wrong with waiting 5 months and doing the deal then so he doesn't need a cosigner? __________________ 2011 MB Touring-Sport-6sp-Nav/GTM TT/FI TT TDX/JTran/Kosmic/Eibach/Hotchkis/SPC/CSF/RPS/SoThatsWhereAllMyMoneyWent

03-09-2016, 03:17 PM	#35 (permalink)
ajm216 Base Member Join Date: Sep 2013 Location: MD Age: 57 Posts: 76 Drives: 2014 370z Silver 6MT Rep Power: 15	Check out Motorcycle Insurance: Rider Insurance, Motorcycle Insurance for New Jersey, Ohio, Pennsylvania, West Virginia, Indiana, Maryland, Delaware, Virginia, Michigan prices.. __________________ 2014 370z with Sport Package Brilliant Sliver 2006 Brilliant Silver G35 6MT Coupe Sport / The infamous Oil Consumption defect ended our love affair

03-09-2016, 05:43 PM	#37 (permalink)
Rusty Ronin Samurai - Assassin Join Date: Dec 2011 Location: Fayettenam,Pennsyltucky Age: 68 Posts: 34,872 Drives: 2011 Nismo GM 6M Rep Power: 2684436	The other thing is if he is late on making payments. That goes against your credit rating. __________________ 浪人 - 殺し屋 "The Difficult Anytime, The Impossible By Appointment Only" http://www.the370z.com/members-370z-...o-journal.html

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