Nissan 370Z Forum - Insuring a street bike?

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Quote:

Originally Posted by Duc_Z09 (Post 3432060)

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*:o) 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.

Quote:

Originally Posted by gotchu99 (Post 3432679)

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.

Quote:

Originally Posted by vrizzo53 (Post 3432665)

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 (Post 3432682)

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.

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

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

Quote:

Originally Posted by vrizzo53 (Post 3432665)

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.

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

Quote:

Originally Posted by JARblue (Post 3432801)

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.