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I am trying to get a 2007 Kawasaki ZX-6R. I got denied for the kawasaki card, but they said I could probably get approved threw a bank or another lender. But that way I would need to get insurance, is there anyway of getting a loan without having to put insurance on the bike. I live in the state of florida if that helps.
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First - you need insurance...but if you want to be crooked, this has been done...Buy your insurance from an agency that serves low income neighborhoods... they always accept a low down payment for the first installment. Example:"Cycle Insurance, $59 down!"Now, with insurance in hand, you can get a loan, plates, registration, etc. Unscrupulous owners then never make another insurance payment...Why you don't want to do this: 1. it is illegal. 2. If stopped by the police, you will go to jail and have your bike impounded. 3. If you wreck, expect many pricey legal troubles in civil court. If you don't pay, you will have your income and tax refund check garnished, and could have a bench warrant placed on you as well.
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You should not get any motorized vehicle without insurance. In addition to the minimum insurance you should get gap insurance to cover the gap between what the bike is worth and what you owe on the loan.Perhaps you should consider an older bike if you cannot afford a loan or insurance.
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Florida doesn't require motorcycle insurance for riders above 18 or 21 (can't remember which) who always wear their helmets. Florida voters recognized that bike riders in the state had a constitutional right to bust their heads, some years ago. So the state has allowed lid-less riding since that law was enacted, but the state then followed by insisting that uncovered riders carry PIP (Personal Injury Protection) insurance.
On the other hand, the lender (bank I presume) will always want to protect its investment by requiring the lender to carry full coverage insurance. Just to give you a taste of insurance costs in Florida; I'm almost 60 and have been riding for nearly 40 years, accident free, and my full coverage is $430 per year! Ouch!!! But then, how much money do you have to pay for the 'accident' damage to both you and your rider, the other vehicle(s) and the host of ambulance chasing lawyers who live for the day to come after people like you.... simply put---IT SIMPLY ISN'T WORTH THE RISK! and if you are trying to avoid insurance because of the cost, perhaps you need to wait. Last edited by Olds13; 1 Week Ago at 03:49 PM. |
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