I want to buy a 2008 Suzuki Burgman 400cc scooter, (can't use a motorcycle, leg problems). The bike costs about $6k. My credit score is 640 right now, which isn't half bad. But on the other hand, I filed for chapter 7 bankruptcy in april 2009, which will probably affect my interest rate. I got a low balance credit card 6 months ago to help me rebuild my credit and credit score. Seems to be working (old score used to be 560).
Money is a bit tight though right now because I'm also trying to get myself a college degree. Did the idiot thing and dropped out years ago. I'm paying cash right now, but once I get my gpa back up to par, I can get financial help from fafsa. When that happens, I'll need a vehicle. I do distance education at the moment, but some of the courses will unfortunately be on-campus. Also I've heard that even with D.E., some instructors still like you to come in for labs, lectures, etc once in a while. So I need something more reliable than having to borrow a vehicle off my friends and family. I think I can afford a cheap vehicle if I plan it just right. But I need to factor in the monthly payments and insurance costs first to decide whether I can really afford it.
On rough average, How much do you think the bike payments and insurance payments would run me per month
On rough average, How much do you think the bike payments and insurance payments would run me per month
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