Yamaha cedit card
- Thread starter Auron
- Start date
Help Support Yamaha FJR Motorcycle Forum:
user 28803
Ridin' and smilin'
- Joined
- Apr 21, 2012
- Messages
- 592
- Reaction score
- 30
A loan calculator puts it at $339.01
I did something similar when I bought my XT225 several years ago. As long as you're SURE you can pay it off before expiration it's a good deal. But, if you're worried about paying it off in 36mo, check around because you might be able to get a low % loan for 4 or 5 years.
I did something similar when I bought my XT225 several years ago. As long as you're SURE you can pay it off before expiration it's a good deal. But, if you're worried about paying it off in 36mo, check around because you might be able to get a low % loan for 4 or 5 years.
0Face
Well-known member
Read the fine print. Sometimes the 3.9% is ONLY if you pay it off at 36 months. Otherwise, they charge you a higher rate retroactively for the 36 months of low rates. God forbid you miss a payment then they really jam you. I don't know how those people who think up that **** sleep at night.
Last edited by a moderator:
Auron
FJRForums' Red-headed stepchild
3 Years is no problem, I'm just wondering if the minumim payment is a certain % of the balance.
I could see them screwing you over saying a payment made on time was late.
I could see them screwing you over saying a payment made on time was late.
Last edited by a moderator:
TomInPA
Well-known member
If you belong to a credit union, you can get similar rates or lower on a new or used motorcycle. The problem with most motorcycle loans arranged through dealers is they don't actually amortize the loan, and after 3 years, you are still stuck with trying to refinance all that principle on a depreciated vehicle. As a result you get pulled in to a very high interest loan. You can get 3 to 6 year loans today at about 3%, and the amortization will proceed predictably along with the vehicle value. The other problem with dealer financing, is they often use secondary non-prime lenders like Household Finance (HSBC). These loans are ****ie-trapped to trigger higher rates and outrageous fees if you are late even once. I strongly urge you to line up your own credit if possible, and consider that if you cannot do so, you should probably lower your expectations and get a less expensive older FJR.
Edit to add link toVehicle Loan Calculator: A 4-year loan on $11,500 at 3.5% is $257/month.
Edit to add link toVehicle Loan Calculator: A 4-year loan on $11,500 at 3.5% is $257/month.
Last edited by a moderator:
GL4435
Well-known member
Just be sure not to fall into their traps ... have a plan, and stick to it. I financed through the dealer for some ungodly amount of years. I think my payment was around $220. I set up the payment to electronically auto pay monthly (a few days early), then added extra every time (except when I went on vacation) and had it paid off in under two years. It was nice to only be obligated for the $220 in case I needed some extra cash from time to time. (an automatic payment from the bank is verified as to when it is sent and received, so if they claim they didn't get it, its the banks deal not yours)
Bustanut joker
Well-known member
Heard that..A kid down the road bought a gixer 1000 via Suzuki Credit. five years ago....Helmet, gloves, jacket, the whole nine yards..
Then he let **** go.
Final tally?? 19K an change.
The 3.9 is good for 36 months as stated. Any balance after that reverts back to the regular credit card interest rate which is usually about 25%. It would have to be refinanced with someone else at the end of 36 months as a bank, credit union, etc to get a cheaper interest rate. If you only pay the min chg during the 36 months, you may have a helluva time getting someone to finance the balance on a 3 year old bike.
I've never really understood the value of this unless one can actually pay the entire balance within the stipulated time frame. I guess it sounds good. :lol:
I've never really understood the value of this unless one can actually pay the entire balance within the stipulated time frame. I guess it sounds good. :lol:
I used the Yamaha/HSBC credit card to buy mine. As others have said, as long as you're never late and you pay it off during the promotional period all is good.
wfooshee
O, Woe is me!!
Just like the Best Buy card I used to have. 12 months interest free, then 28%!!!!!! As long as the TV gets paid off in the year, no problem.
Never ever ever use the minimum payment as an actual guide to using a credit card!!!!! You'll be 20-some years paying that sucker off!
Never ever ever use the minimum payment as an actual guide to using a credit card!!!!! You'll be 20-some years paying that sucker off!
Bustanut joker
Well-known member
Poor fuker 'owie..
Bought 'special"Manatee condoms on a card.. Silly ass is 5 years and 3 grand into payin 'em off.
Use a secured loan from your primary bank based on existing deposits. under 2% and you're paying yourself back.
Last edited by a moderator:
3.9% is a good rate. Good advice above. Pay it off, or at least don't have much left at the end of the 3.9%.
Your local bank or credit union can often ofter those (or better) rates without the loan sharkishnes of HSBC. My car is through my CC, was significantly larger than it would have been for the FJR, and is closer to 3 than 3.9.
Last edited by a moderator:
I think folks ought to just shop around and see what they can get. At the time (Jan '08) I got my bike the Yami/HBSC card was 2.4% for 24 months and I knew I was gonna easily pay it off. Wells Fargo gave me a card when I financed our home heat pump replacement earlier this yr- 6 yrs, 0.0% interest. 2 yrs ago when I bought a new F-150 Ford Motor Credit gave me 5 yr, 0.0% interest. No other lending institution at any of these times would do the same for me. So take your time and shop, putting a refundable deposit down if need be. But if you feel pressured to "act now or lose out" on large purchases, you should just walk away rather than be hurried. Just my $.02.
