not too good at math but whatever. i bought my 500 a month ago and am already starting to envy the 636..the 500 just isnt sporty at all...and i think its ugly. i've been looking on craigslist for a bike and have seen a few that caught my eye. here are the problems though.
i dont know if the bank will give me a bigger loan yet.
should i just ride it out the rest of the summer?
i'm thinking of just making payments on it for a few months maybe till december or november then try to sell it. by then i think i should have enough credit to get a bigger loan.
when i bought my bike i had no credit and the bank gave me a small loan ($2800) and a 2 year term on that. after i sell my bike im gonna look into buying a zx6r i think..or maybe even a zx7r if i can find one for a reasonable price.
anyway whats your guys opinions on riding it out for the rest of the summer and make payments for a while?
am i selfish to sell my bike right now?

 

It will help your credit to make payments for few months. If you sell now, just make sure you can pay off the loan. It won't help your credit, but you'll basically be back to ground zero. There's a good probability they will give you the bigger loan as long as it's less than the value of the bike you get. You'll just need to pay off the first loan first.

 

well since the bank is the leinholer on the bike if i sell it they'd know which means with the 3500ish i make from the bike theyd want me to pay off the rest of the money i owe. if i payed off the 2700 i owe right now would that be good for my credit or just not help at all? the problem is that the bank would only give me a loan for 2800 before..thats the most they would do.

 

Paying off the loan now will not help or hurt your credit. The only way to help your credit is to make on time payments for several months in a row.

 

Was the $ limit for any bike, or just the one you bought? Usually the $ varies depending on what you're buying. They just want the loan to be less than the value of the purchase

 

well since it was my first loan and i had no credit at first they were gonna give me a 4500 with 1300 down.. which was possibly going to be a 08 250 but i decided to go used and learn how first. then i decided to go for the 500 at 3500. so not really sure how its going to work. maybe i'll just make payments for a few months...may to november is 6 months so ill ride the rest of the year on this 500 and then maybe this winter or next spring ill get a zx6 or 650

 

Sounds like a solid plan to me. The only other advise I could offer is just to talk to a loan officer at your bank and see if you have any options. I do know that if you stick with the 500 and make payments for a while, your credit will look MUCH better next time you're looking for a loan.

 

http://spokane.craigslist.org/mcy/724723830.html

 

Nice bike... So are you gonna try to get it, or you just torturing yourself?

 

torturing mostly.

haha ****ing banks