BMW Luxury Touring Community banner

1 - 8 of 8 Posts

·
Registered
Joined
·
519 Posts
Discussion Starter · #1 ·
I don't want to sell, but I may need to in order to have enough cash down to buy a house (lenders want a lot more down than they did in years past - even with an 813 credit score) so I have to consider selling the LT. I paid cash for her 1 year ago. Have only put a couple thousand miles on her. Kelly Blue Book says $18k. Been looking at comps on CycleTrader and eBay as well.

Thought I'd toss it out here to see what you guys thought.
 

·
Registered
Joined
·
519 Posts
Discussion Starter · #3 ·
If I decided to sell, I would be looking for cash for a home down payment. No trades, sorry.
 

·
Registered
Joined
·
1,989 Posts
MrBreeze said:
I don't want to sell, but I may need to in order to have enough cash down to buy a house (lenders want a lot more down than they did in years past
Given that you may have to sell quickly to make a down payment on a house, coupled with the poor economy and announcement of the K1600, I think you'll be lucky to get 16K. Hope you don't have to sell.
 

·
Registered
Joined
·
519 Posts
Discussion Starter · #6 ·
Fortunately, I don't HAVE to sell the bike, or buy a house. I've been renting a house for the past 3 years, but with the market depressed, I am considering buying as the deals are good. I suspect they will remain good for some time to come. And while it is true, I do have my eye on (and a refundable deposit on) a K1600 GTL, but doubt we will see them until late spring 2011, so my need to sell is not imminent. Not even certain I'll want the GTL when it does come out - I love the LT (obviously, since this is my 2nd one)

Just considering all my options, and the forum always makes for good banter.
 

·
Premium Member
2011 R1200RT
Joined
·
8,178 Posts
MrBreeze said:
Fortunately, I don't HAVE to sell the bike, or buy a house. I've been renting a house for the past 3 years, but with the market depressed, I am considering buying as the deals are good. I suspect they will remain good for some time to come. And while it is true, I do have my eye on (and a refundable deposit on) a K1600 GTL, but doubt we will see them until late spring 2011, so my need to sell is not imminent. Not even certain I'll want the GTL when it does come out - I love the LT (obviously, since this is my 2nd one)

Just considering all my options, and the forum always makes for good banter.
See if you can qualify for a FHA loan. You can get into a house with just 3 or 4% (not sure which anymore). That is how we just bought our home 2 months ago!
Talk to a loan broker first, but be sure he/she is independent and can shop around for a loan on our behalf. Stay away from bank loan officers as they will only offer what their bank offers...
That way you wouldn't need to sell the LT.:D
 

·
Registered
Joined
·
519 Posts
Discussion Starter · #8 ·
Hey Zippy, I hear ya, but just like my taste in motorcycles, my taste in homes are more in the jumbo-loan price range than conventional FHA. Of course there is always playing the Lotto....

hahaha.
 
1 - 8 of 8 Posts
Top