what do you guys think of this deal... might be thinking of it.

 

My friend is doing this deal w/his R1. If you can pay it off while you have 3.9%, your ok. It probably jumps to 18% after a year

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by blue95accord &raquo;</TD></TR><TR><TD CLASS="quote">My friend is doing this deal w/his R1. If you can pay it off while you have 3.9%, your ok. It probably jumps to 18% after a year </TD></TR></TABLE>

Thats close it says in the add 17.9%

 

yeah up to 17.X% in Feb 2005 only on remaining balance. I"m doing this with my 03 R6. But only owe like 3800 on it.

 

you're only allowed to make monthly payments of $39/m? huh? yea, I pay cash for everything

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by tonydatyga &raquo;</TD></TR><TR><TD CLASS="quote">you're only allowed to make monthly payments of $39/m? huh? yea, I pay cash for everything </TD></TR></TABLE>

i use to do that but then i realized im 21 with no credit...i want to buy property soon so i decided to start building credit by buying my bike

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by super-dooper fast &raquo;</TD></TR><TR><TD CLASS="quote">

i use to do that but then i realized im 21 with no credit...i want to buy property soon so i decided to start building credit by buying my bike</TD></TR></TABLE>

how did you finance a bike with no credit?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by lMlElNaCe-GsR &raquo;</TD></TR><TR><TD CLASS="quote">

how did you finance a bike with no credit?</TD></TR></TABLE>

my mom has connections at her credit union...she didnt have to co-sign since i make good money

 

Hey tony... you can pay whatever you want for a monthly payment as long as it's at least $39 or more. Great for the people who really can't afford a bike. This way Yamaha can pretty much run out the length of the financing as long as they want and hopefully get the one guy that can't pay it off before 05. and then they can bend him/her over for the remaining.

Definately puts a person is a much better position if financially strapped but really want a bike.

I would like to pay cash for everything, but I figure this is building my credit for buying houses. Just need to make sure it's paid before I buy the damn house!!

 

how much would the total be to get a new yamaha R6 with all the charges and such.

 

Well... it's whatever you work out witht he dealership on the out the door price. Then if financed through the Yamaha special, it will be $39 a month @ 3.9% till Jan of 05. But after that, it's up to you. Depends on how much you finance and how much you pay off before 05. After that...Balance is then at 17% interest till paid off.

 

Thanks for the clarification. Maybe I should make payments on a special edition duc to build my credit

 

i was looking at that deal too..im planning on getting the 2003 r6 in mid june. SO how good does your credit have to be to get this deal?..and can anyone get it or do you have to be a member or somethin cuz i remember reading that you need a yamaha card...

 

i just got a 03 r6 two days ago...if i were you i wouldnt go with the 3.9 apr crap...i just had my pops co-sign and the intrest was 10.49 and i have 72 months to pay it off...that might or might not sound like a good deal but i pay $175 a month....make sure if anything get the GAP program..its well worth it...late

 

Let me get this straight...you are paying $175 a month @10% interst for 6 years.


That sucks man!! no offense... you figure worse case, you do the Yamaha financing till 05 at 3.9%, then refinance the rest (if any) Pay the $175 a month with only 3.9%. instead of $175 for 72 months @10%. You would be putting lots more towards pricipal with a 3.9% and paying 175 a month.

You are getting bent on that deal! if all numbers are correct, you will end up paying like 12K for a 2003 R6. Refinance!!!

 

Have you applied, got the loan yet? Motorcycle loans are funny, since they are considered "recreational" and not necessary. If you don't own a house and have perfect credit most banks would want you to put down a significant deposit to defer their risk.

I am not pointing you out and saying that you don't have good credit or anything, just a slap of reality to anyone who thinks Yamaha will give this deal to anyone.

 

im a loan writer at a credit union and we do as low as 3.95%, sometimes 3.7. it all depends on your credit (if your financial instituton does performance based lending). my point is right now 3.95 is no big deal.

 

Yeah but it's definately better than the guy you is financing for 10.XX% for 72 months.