Is full insurance on financed motorcycle absolutely neccesary?
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So, if you're a young rider with not much experience, and you are looking at a relatively expensive and powerful motorcycle, odds are you will end up paying that credit card bill on a pile of parts in a year or less. Or you can take that $300 a month insurance hit and at least come out of the deal with money in your pocket.
Tough call. Hmmmm. What about a different bike? Less cc's, different style?? Check insurance costs on a few different bikes, you might find something that'll be cheap enough at full coverage.
Is full insurance on financed motorcycle absolutely neccesary?if it is a bank loan they will require it. if you use a credit card, they will not care as long as its paid off, whether you crash it or not. you will have to pay it off.
Is full insurance on financed motorcycle absolutely neccesary?yes its necessary. If you crash it, or gets stolen it will have to be covered. The banks want insurance for their collateral. If you put it on a card, liability will work. However, what happens if it gets totaled or stolen then. You will have to pay for something you dont have. Just a thought!
Is full insurance on financed motorcycle absolutely neccesary?As "michael" said, using your credit cards is your only option (other than paying cash of course) if you want to avoid having to carry full-coverage insurance.
It should be about tax-refund time when the riding season begins --- just a thought.
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