They charge you a % value of the balance for early payoff. It can very but is in the fine print.

 

i'd at least try a credit union first. if you're not a member then i don't know how it would work, but that could be a good reason to join. it might help you get a few ducks in a row before you get serious about the buy.

 

Thanks.

Then there is a pre payment penalty, at least in the first year of the loan.

 

He basically said make the payments for a year to build my credit up then do refi. But I'll probably refi in 6 months.

 

If the terms of the loan, which would be in the document you sign, say no early payoff before X date, then you can't refinance before that date.

 

30 years ago I didn't have any credit but I had a job and I wanted that damn motorcycle so bad I couldn't sleep. Yes, I got an awful finance rate to make it happen, I knew it but it didn't matter, I had my bike finally. Did I learn something from it, yes. At the time it didn't matter although, just wanted my bike. Just know full well what you're doing and start making things better for the future going forward. So I say do what makes you happy, you gotta start somewhere...

 

ok, since some have said I haven't given enough info to answer my question, my credit score is in the 500s bad I know. I know my whole question comes with a lot of backlash from those saying to fix my credit then worry about a bike. That's great advice, but that wont get me on the road anytime soon. I also never said I couldn't put money down, I simply asked if I could get a loan without putting money down. I do not care about paying a high rate, because it will get me on the road now rather than saving,fixing my credit and waiting. Call it impatience or whatever, I want a bike now. On a side note, would buying a used bike make any difference?

 

There's all kinds of great bikes out there for sale for short money. If your goal is to "get on the road", $1000 will get you there with room to spare.

 

I have stupidly good credit and was balking at the 2.99% for 5 years.. I want 0% damnit!

 

Why would you buy a new bike, when there are tons of garage queens out there for less?
Take some time and save a few thousand dollars.