Originally Posted by mattcbr250
When I went to buy my 250R from the dealer, Honda had a finance cap of $4,100 on sports bikes. I have a mid 700's credit score too. I originally went in for the 250R, but after receiving that news, there was no way I was going to even set my mind on buying a 600RR.
So the news of not continuing to make 600's isn't surprising.
I'm sorry but you need to go back and tell the finance guy you talked to that he is full of it.
I've been a finance mgr for a powerhouse Honda dealer for quite a few years now and I can tell you without a doubt that Honda will not cap the $$ amount based on the type of bike you're looking at. Honda Finance will only cap the $$ amount on a persons loan for 1 of 2 reasons:
1: First time buyers program where they cap you at $3,500
2: You either have limited credit but enough to skip the 1st time buyers program or you have had a few hiccups credit wise, to where they don't want to loan you the full amount so they will cap the loan amount to where you have to come up with X amount down.
Having a credit score in the 700's can also mean more than 1 thing. You can have a score in the 700's and have a very thin credit history with maybe 1 credit card or small loan etc. Then you've got the people in the 700's that have many many years of established credit history that are in the 700's.
I have quite a few younger people come in spouting that their score is in the 700's etc and that they should be approved etc. Only to find out like I mentioned above they have 1 credit card and so on. People put too much emphasis on score these days because of all of the credit monitoring sites that want to sell you your score. Sad part is most of them are FAKO scores and mean nothing when you compare it to what most lenders pull.
Long story short either your credit history is limited and you were really capped at $4,100 but it would have been on any bike you looked at, not specific to a CBR. Or you're golden credit wise and this finance guy thought he could pull one over on you hoping he got you to buy a CBR250R. Honda does have some kickbacks right now on the 250's so if this incident wasn't too long ago I'd bet money that's why he was trying to push you on a 250 because the 600's and 1000's don't have the kickbacks the 250's do.
I'm sorry for the long ramble, just really bothers me when I hear about people like this at a dealership just flat out lieing to someone in return giving all dealers a bad name.