Adrian R: How much will a motorcycle finance cost each month for 36 or 48 months ?
I am planning on buying a motorcycle. I want to buy from a private seller. The motorcycle costs $ 9000. I plan to pay my loan back by 36-48 months. How much will my payments be each month for the 36-48 months. Is it possible to get a loan for it because its from a private seller not a dealer?
Answers and Views:
Answer by Cookie Preston
You cannot calculate your payback rate without knowing the interest rate of your loan. The monthly payment will vary depending on the interest amount of your loan. If you want a loan for $ 9000 and you pay it back over 4 years (48 months) at an 8% interest rate you payments are $ 219.72 a month. Paying it back over time like that will cost you a total of about $ 10,500. That’s the $ 9000 plus interest on the loan. You can calculate different amounts by going to the automatic calculator at: https://calculator-loan.info/ You can get more detailed information by also clicking on “showing me the calculations”. It is possible to get a loan for buying from a private seller, especially if you have a good credit history.
Well
It Looks like youve got already got it nailed by the first answer
Answer by PonyDriverYou really have to go to a bank and find out what their fees are for loans for used motorcycles. Generally around 7%-10% depending on the length of the loan and value of the motorcycle and also your own credit score.
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