question on financing

[ANIMALEONE]

on the new credit financing by suzuki, do u need full coverage, or just liability? i have heard that if its under 10,000 financed, u only need liability..true?

thank you

[goodluck]

i dont know about suzuki but usually when something is financed they want it fully insured to cover there cost

[Sloto200]

if you finance anything you will have to have full coverage ins. i've never seen or heard anything that said if it was less than 10k you didnt need full coverage.

[BigBSBusa]

What they said.

[TIMMYDUCK]

Suzuki financing is a credit card actually.

So no Full insurance is required.

But if you wreck it without the insurance, how would those remaining payments and no bike taste ?

[el stumpo]

Someone mentioned something about Suzuki Financing not requiring full coverage, but that was a first for me. Everytime I've financed, it was full coverage insurance...

[ANIMALEONE]

Suzuki financing is a credit card actually.

So no Full insurance is required.

But if you wreck it without the insurance, how would those remaining payments and no bike taste ?

even if you wreck a bike, and collect on insurance in jersey.. good luck trying to get coverage on another bike, its not going to happen....
if it does, youd be paying more in two years than the bike is probably worth. and since the insurance for me is 2300 for the year.. 200 sounds much better

[TIMMYDUCK]

Suzuki financing is a credit card actually.

So no Full insurance is required.

But if you wreck it without the insurance, how would those remaining payments and no bike taste ?

even if you wreck a bike, and collect on insurance in jersey.. good luck trying to get coverage on another bike, its not going to happen....
if it does, youd be paying more in two years than the bike is probably worth. and since the insurance for me is 2300 for the year.. 200 sounds much better

There are other types of accidents to consider that are not your fault

No insurance or underinsured motorist.

You hitting a deer.( Ask Kento-moto about that)

Your bike getting ripped off

Fire.

Knocked over in a parking lot.

To many variables if you ask me not to be insured properly.

[Fox Fader]

If Suzuki holds the title you need full, if the title is sent to you, clear, then it's up to you.

[ANIMALEONE]

Suzuki financing is a credit card actually.

So no Full insurance is required.

But if you wreck it without the insurance, how would those remaining payments and no bike taste ?

even if you wreck a bike, and collect on insurance in jersey.. good luck trying to get coverage on another bike, its not going to happen....
if it does, youd be paying more in two years than the bike is probably worth. and since the insurance for me is 2300 for the year.. 200 sounds much better

There are other types of accidents to consider that are not your fault

No insurance or underinsured motorist.

You hitting a deer.( Ask Kento-moto about that)

Your bike getting ripped off

Fire.

Knocked over in a parking lot.

To many variables if you ask me not to be insured properly.

No insurance or underinsured motorist.<-- its the law to have insurance in NJ

You hitting a deer.( Ask Kento-moto about that)<-- crashing the bike..the insurance will pay, but you'll never get insurance again on a bike, or itll sky rocket to where its not worth it

Your bike getting ripped off <-- lojack

Fire. <-- again.. insurance has to cover in full, and will not insure again probably..

Knocked over in a parking lot. <-- why put an insurance claim for that when my 2300 yearly bill will probably rise to 3200

To many variables if you ask me not to be insured properly.

.. in my opinion its not worth it with 2300 yearly bill for it..

[TIMMYDUCK]

Like everyone follows the law.

A friend of mine was taken out by a person with no insurance and was seriously injured.

If he didn't have a high limit insurance policy( which picked up the tab for the hospital bills over 300K he would have been on the hook for them.

In Vt I have full insurance with a 500 K limits for 409 a year.

Each to there own though, and safe riding.

[Mr Bogus]

If the bike is collateral on the loan, full coverage is required by virtually all lenders.

If you say use a credit card or other unsecured credit line (you simply ask your lender for the money and they just hand it over) then full coverage is not needed. I was told the Suzuki credit line is a "nonsecured" line of credit (but it is pricey) so no full coverage would be needed if that is the case.

Personally I would think twice about purchasing a bike like this without full coverage.. If stolen, wrecked or anything else happens, you are just "out" the money...

Cost of insurance is very dependent on your age and record.. Many here have State Farm insurance as I do. I pay $240 per year for full coverage. Silly not to have it IMO..

[ANIMALEONE]

Like everyone follows the law.

A friend of mine was taken out by a person with no insurance and was seriously injured.

If he didn't have a high limit insurance policy( which picked up the tab for the hospital bills over 300K he would have been on the hook for them.

In Vt I have full insurance with a 500 K limits for 409 a year.

Each to there own though, and safe riding.

I see your point.. but I hope you see mine too. full cov. for me is not worth it..having sick benefits from work, along with aflac.. so not worried about the medical aspect.. but i do feel for your friend that got in that sh*tty situation..

[edubb1971]

i dont know about suzuki but usually when something is financed they want it fully insured to cover there cost

+1

[ANIMALEONE]

i appreciate everyones comments and will take everything into consideration..

again thanks

[06BUSA]

if you finance anything you will have to have full coverage ins. i've never seen or heard anything that said if it was less than 10k you didnt need full coverage.

Some dealers have let that slide.
Bad idea if you ask me. Find a good rate, you never know. You may need it.

[dangerous dave]

even at my age (old) they want a couple thousand a year for full coverage. I dont have any points against me either
I pay aprox .700 a year for liability ,theft, fire and uninsured motorist . If I wreak and my fault the bill is on me.
I owe money on my bike and nobody has ever told me I needed full coverage.
I dont think they could sell bikes around here if full coverage was reqired .

[Mr Bogus]

even at my age (old) they want a couple thousand a year for full coverage. I dont have any points against me either
I pay aprox .700 a year for liability ,theft, fire and uninsured motorist . If I wreak and my fault the bill is on me.
I owe money on my bike and nobody has ever told me I needed full coverage.
I dont think they could sell bikes around here if full coverage was reqired .

it all depends on the loan... if the bike is the collateral, the lender is going to require full coverage.. just the way it is...

you must not be that old for those kind of rates... the absolute highest quote I had for full coverage was $995 and SF was the $238 per year for full coverage..

I checked on the Suzuki loans and they are a revolving charge account... the interest rate is awful but the loan is only secured by your credit... what that means is that you would not be required to have the full coverage insurance... They are meant to supplement a healthy down payment so that a rider can buy the bike and is actually designed to get around the insurance problems many have...

I guess it is legal but not very smart on the purchasers side IMO...

[adm.nelson]

I get my 'full coverage' for about $170 every 6 months. Better to have that, even on a bike that is paid off. I had full on my previous bike, a 1994 VFR750, until I sold it a few months ago. On a note about Suzuki financing, I was a bit upset that they started charging me a finance charge from the day I signed the papers, most credit cards allow you a months grace in case you want to pay it off, which I did, with another CC I have with 0% interest for 17 months, 9.9 after that. In short, better to have full coverage.