A few questions about the 'zuk card

[TheAtomicAss]

So I picked up a brochure for the Suzuki card at my dealership.  I'm determined to be on a new Busa this year, and I'm crunching the numbers to see if I can do so with a minimum of financial woes.

First thing is, insurance.  I do want to insure the bike, but short of a miracle, full coverage is out of the question.  Everywhere I've tried is wanting $3k+/yr for full.  However, I can get liability + fire/theft for well under $1k/yr.  Those of you that have the Suzuki card, please chime in with your insurance level, how much you financed, etc, and whether or not you hold the title in hand.  And has anyone gotten a good discount on theft if they have GPS tracking/alarm?

Second is the Suzuki financing.  The brochure I have does not detail the $99/mo financing being advertised.  If anyone has this plan, what were the terms?

Oh, and I know some people are going to rip me about getting all googly-eyed at the $99/mo deal.  I know, it can bite me in the Ass, but my intention is to pay every spare penny towards the balance of the loan.  I'm in a position now where I can pay about $1k/mo.

And because of the insurance issue, I doubt a bank loan would do me much good.



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[BA BUSA]

The $99 a month deal is not a good idea....if you can afford a payment of $1K a month, the best thing to do would be save up your money and wait till the 07 comes out. They are going to change the bike and you could pay cash for it and would not have to carry as much insurance.

I know it sucks to wait....but how are you gonna feel when you buy a 06 and they release a new and improved Busa for 07

 

[WuzzaCBXRider]

I paid for my new LE outright so I didn't have to finance the bike which requires full (and expensive) insurance coverage. I have uninsured/underinsured and liability, and in case its stolen, comprehensive. Saves a LOT of $$ in insurance costs. Try for a credit union or bank personal (unsecured) loan at a good rate and maybe you'll save enough to buy insurance. Of course, if you happen to crash it all on your own, you get to pay for everything!

 

[TheAtomicAss]

I'd rather have an '06 now, than wait for the '07, which will most likely cost a good deal more, may have first run problems, and will either way include emissions equipment.

I have this little problem with emissions equipment. I good time hate it. I hate it more when I'm forced to foot the bill for it.

 

[HRJR]

Get a price from State Farm. I was given that suggestion from members of this group and found them to be *way cheaper* than the others I tried (AIG, Progressive, Allstate, others). Pay about $380/yr for full coverage with low deductables and high coverages. Though, you need to move auto's over to get the best deal.

 

[busa_boy_69]

Get a price from State Farm.  I was given that suggestion from members of this group and found them to be *way cheaper* than the others I tried (AIG, Progressive, Allstate, others).  Pay about $380/yr for full coverage with low deductables and high coverages.  Though, you need to move auto's over to get the best deal.

+ 1 on that. I inusured my Bus with them since I had it and pay 28$ a month for full coverage.

 

[Tool]

When I purchased mine, Suzuki had an awesome deal for people that lived in the hurricane areas. 12 months no payment & 9.9. I was ready to buy bike outright, but will do it at end of 12. Suzuki does not require full coverage, but they hold title. I carry full coverage through Statefarm, low deduct, high coverage. $380.00 every 6 months. But, i also have house and cars with them and 36 yrs old.

 

[NightCrawler]

Basic terms of $99/month deal.
- $129/month if financing over "x" amount.
- $99/month if financing undeer "x" amount.
contact dealer for exact amount. I think it's $10,500
- Interest is 9.9%.
- Deal is good for 60 months (5 years)
- Remaining balance after 60 months will be paid at 19% interest.
- If late on 2 payments anytime during the 60 months, interest rate defaults to 19%.
- Just to let you know, only $10 goes to principle when making the $99 monthly payments.

If you are a responsible individual, I see no problem with the deal. I'm on that program and pay $300 monthly, plus my entire income tax return goes to it. Every once in a while I might need some extra money, and that would be the only time I make a payment of $99.

 

[Paulsgt]

Get a price from State Farm.  I was given that suggestion from members of this group and found them to be *way cheaper* than the others I tried (AIG, Progressive, Allstate, others).  Pay about $380/yr for full coverage with low deductables and high coverages.  Though, you need to move auto's over to get the best deal.

+ 1 on that. I inusured my Bus with them since I had it and pay 28$ a month for full coverage.

+1

State Farm insures by CC size and not type of bike.

Agencies like the Progressive and Geico do it by type of bike and size.

Progressive actually lists the bike as a "killer bike" and no they dont mean a bad ass bike, they mean it literally.

Theres my 2 sense.

 

[LadyHawk]

Yep, try state farm.. we didn't have to have our cars on it either. We have the Busa and a Katana on it, full coverage on both. $2160 a year..42 and 36 years old.

 

[LadyHawk]

And I'm feeling your pain Atomic.. I was just calculating if I sold my Katana, and got a personal loan from my 401k.. I'm STILL $1000 short for my 06LE

 

[frisbee]

State farm $440 a year full coverage w/500 deductable. But I had to put a car on with it . ( car is extra )

 

[John 16:10]

Get a price from State Farm.  I was given that suggestion from members of this group and found them to be *way cheaper* than the others I tried (AIG, Progressive, Allstate, others).  Pay about $380/yr for full coverage with low deductables and high coverages.  Though, you need to move auto's over to get the best deal.

+ 1 on that. I inusured my Bus with them since I had it and pay 28$ a month for full coverage.

+1

State Farm insures by CC size and not type of bike.

Agencies like the Progressive and Geico do it by type of bike and size.

Progressive actually lists the bike as a "killer bike" and no they dont mean a bad ass bike, they mean it literally.

Theres my 2 sense.

This is the way to go!! $330.00 every 6mos.

 

[macmode]

I can't belive the price you all are paying for ins. I must be just that old. I pay $400 a year for full coverage.

 

[johnstein]

stay away from the zuk card !!!!!!!!!!!!!!! 60 months at 99$ per month is about 6 grand , of that 6 grand 600$ goes toward the purchase of the bike 5400 dollars goes toward interest . why would you want that ? 9.9 isnt a very good rate and 19 % just sucks , and to not carry full coverage on a bike , yhough not required , would be almost as foolish as financing it ! read some of the stories abuot busas downed in parking lots hit from behind , even though it might never happen what about stolen would suck to be makin those kinda payments with nothing but a picture of the bike you used to have but still have to pay for ? be careful ! they will finance anybody ! because even thier best deal is great for them !

 

[GSXcite]

stay away from the zuk card !!!!!!!!!!!!!!!  60 months at 99$ per month  is about 6 grand  , of that 6 grand   600$ goes toward the purchase of the bike  5400 dollars goes toward interest  . why would you want that ? 9.9 isnt a very good rate  and 19 % just sucks , and to not carry full coverage  on a bike , yhough not required , would be almost as foolish as financing it !   read some of the stories  abuot busas downed  in parking lots hit from behind , even though it might never happen  what about stolen  would suck to be makin those kinda payments with nothing but a picture of the bike you used to have  but still have to pay for ?  be careful ! they will finance anybody !  because even thier best deal  is great for them !

What he said!

 

[TheAtomicAss]

stay away from the zuk card !!!!!!!!!!!!!!!  60 months at 99$ per month  is about 6 grand  , of that 6 grand   600$ goes toward the purchase of the bike  5400 dollars goes toward interest  . why would you want that ? 9.9 isnt a very good rate  and 19 % just sucks , and to not carry full coverage  on a bike , yhough not required , would be almost as foolish as financing it !   read some of the stories  abuot busas downed  in parking lots hit from behind , even though it might never happen  what about stolen  would suck to be makin those kinda payments with nothing but a picture of the bike you used to have  but still have to pay for ?  be careful ! they will finance anybody !  because even thier best deal  is great for them !

No need to worry.  I'm not going to put myself up the creek without a paddle.  

60 months?  I don't have the patience to pay on something for that long.  I'd have it payed off by roughly this time next year anyway. That works out in my calculations to be around $500 in interest, at most.  I payed 6 TIMES that much interest in 2 years on my truck.

If I drop it?  I've dropped my Ninja 3 times.  I repaired the damage myself, even though I hold full coverage on it.  It's cost me about $100 for all 3 incidents.  I'm certain that the insurance company would have totaled it at least once, which would've driven my insurance significantly higher than what I have payed.  Hit from behind?  Other guy's insurance, or my uninsured coverage.  I wouldn't own a Busa without theft coverage, period.

I see a lot of people complaining about the 9.9% rate.  I've heard that the average age for a Busa owner on this forum is mid 40's.  That would imply the average Busa buyer has ~20 years of credit history.  I have 3.5 years of credit history.  My first bit of credit was a $14k loan on an '03 Chevy S-10.  10.79% on that loan.  I don't think I'm doing too bad so far.  Maybe when I'm in my 40's, with a house, wife, kids, etc, I can find a bank that will cut me a loan for $10k at 2% interest.

Progressive actually lists the bike as a "killer bike" and no they dont mean a bad ass bike, they mean it literally.

That might explain why they quote me $3,500/yr for full coverage.  I will be checkin State Farm, per everyone's suggestion.  I need to move my Ninja anyway, as it's a bike only policy and my Sunbird needs liability.



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[umairhashmi]

I got my loan through hsbc.Good thing about them is that though they hold they title they wont put a gun to hear and force you to buy insurance like most companies.Here in florida its not mandatory for motorcycles to have insurance.Of course youd have to foot the ENTIRE bill in case its stolen,wrecked or you end damaging someone elses property.

 

[TheAtomicAss]

Is that true of all accounts run through HSBC? My Ninja account is through them, and I never got a straight answer as to insurance requirements.

 

[umairhashmi]

Is that true of all accounts run through HSBC?  My Ninja account is through them, and I never got a straight answer as to insurance requirements.

Should be the same.Why dont you give them a call and find out! I bought my bike from a local dealership here in south florida and i told them i needed financing from a company that wont force me to get insurance.The guy said HSBC is one of those banks.I got it through them.Their number is
1-800-975-HSBC