Is there a financially sensible way to purchase this right now through a loan and in the meantime put my 2013 "Ninja" (z100sx) up for sale and then apply the money from the 1000 in such a way as to lower the payment. I guess like a re-finance kind of thing? I'd like to not let this bike get away. https://www.cycletrader.com/listing/2015-Ducati-MULTISTRADA+1200+S+TOURING-5004164544
Yeah, but that is exactly what you will be doing...refinancing it. You go ahead and finance the whole thing now, while waiting for your other one to sell. Then when it sells, you finance it again, except this time with a large deposit...thereby lowering your payment. Or, you finance the whole thing, then when your SX sells, you put all of that money towards the principal. It wont lower your payment, but it will mean you will get the bike paid off much sooner. Which will save you interest, and avoid hitting your credit twice in a short period. Personally, as long as you can handle the larger payment, I would go with option B.
You could extend the length of time of the loan if your bank would let you. Like if you eventually wanted a 3 year loan you could take out a 5 year. Then when you put the extra money back into it, it would shorten the term back up.
I guess every lender is different, but if I pay more on my auto loans through Navy Federal, it basically has the same effect. If I make a huge lump sum payment. I wouldn't owe a payment for many months, then can just pay whatever I want towards the principle each month. Perhaps this is something they do to help out military, I'm not sure.
