I got 3.95%/36 Months, I know they also had a 4.5% /60 month (Kawasaki)
Yamaha has 3.99%/36 months right now I believe
All new bikes BTW
Yamaha has 3.99%/36 months right now I believe
All new bikes BTW
Nope, no idea how credit works, care to help:OYou know they're all going to be different. Are you not familiar how credit works? If you were, it seems like you wouldn't be asking that question.
The argument could be made that "buying" a bike on credit rules you out of the fiscally responsible category...Nope, no idea how credit works, care to help:O
Sarcasm aside, we always see stuff like what the price of the bike is etc, it's just nice to see what people have had to pay for interest alone as that sometimes ends up costing alot more than what was "saved" initially. Of course they are all going to be different, much like prices of bikes will differ based on market AND negotiation skills along with patience of the buyer. I know I have seen in older posts guys paying 16% interest, which is absurdly high so I was just interested in seeing numbers.
PS, 2.49% is my interest for 4 years if the loan amount is more than $3500. A good credit score and being fiscally responsible pays off. Currently looking at some '13s and trying to figure out which one to buy
I sure hope we don't get started on that again.The argument could be made that "buying" a bike on credit rules you out of the fiscally responsible category...
Sure I guess. I have always been one that doesn't buy what he cannot afford in cash. I have but two credit cards and the only loans I have had besides school loans were the two loans for my car and my wife's car, both of which were paid off before the 5 year period.The argument could be made that "buying" a bike on credit rules you out of the fiscally responsible category...
Sure I guess. I have always been one that doesn't buy what he cannot afford in cash. I have but two credit cards and the only loans I have had besides school loans were the two loans for my car and my wife's car, both of which were paid off before the 5 year period.
As I have stated in another thread, I could easily pay for it in cash but I don't care for touching my savings for a "toy". At 2.49% interest over 4 years, that $5500 will cost me $284 over a 4 year period or $71 a year. I could dip into my savings for that extra $5500 but I know saving money is more difficult than spending so I can live with the $71 a year in interest.
I do wonder how some guys can do like 16.99% as I saw in another thread. 400 score?
Im with you on this...I could have paid cash on mine too but figured I rather have it in savings and just do a short term (36 months) so I will always be Upside on the loan. If #&(@ hit the fan financially, I can always sell it for what I owe plus some.................
As I have stated in another thread, I could easily pay for it in cash but I don't care for touching my savings for a "toy". At 2.49% interest over 4 years, that $5500 will cost me $284 over a 4 year period or $71 a year. I could dip into my savings for that extra $5500 but I know saving money is more difficult than spending so I can live with the $71 a year in interest.
And THIS :laughI do wonder how some guys can do like 16.99% as I saw in another thread. 400 score?
I like longer loans, as long as possible, simply because I like the lower minimum payments. That means on months where money may be tight, I can pay the minimum but as mentioned above, I never do the full term. On my Corolla, I paid it off in 2 years, my wife's Forester, it was 3 years.Im with you on this...I could have paid cash on mine too but figured I rather have it in savings and just do a short term (36 months) so I will always be Upside on the loan. If #&(@ hit the fan financially, I can always sell it for what I owe plus some...
And THIS :laugh
I hear you on that and I can relate....I almost did that but only issue with that strategy is that if for some reason you have to sell the bike you will have to plop down cash ontop of what you can get to pay off the loan. I hate "owing" money lolI like longer loans, as long as possible, simply because I like the lower minimum payments. That means on months where money may be tight, I can pay the minimum but as mentioned above, I never do the full term. On my Corolla, I paid it off in 2 years, my wife's Forester, it was 3 years.
Yup that last part in bold is how people end up paying more in the long run. They go in for a deal (car or bike) and say they can only afford so and so a month, the finance department works it out and it ends up being so many years at a certain percent. Definitely not worth it. If my APR was higher than 5%, I would either pay in cash or move on regardless of the length of the loan. Car loans were 1.99% and 2.5%. The bike loan being 2.49% is the only reason I'd consider. For a used bike, apparently, it's hard to get rates like that.I hear you on that and I can relate....I almost did that but only issue with that strategy is that if for some reason you have to sell the bike you will have to plop down cash ontop of what you can get to pay off the loan. I hate "owing" money lol
For me its piece of mind knowing I have the equity....but obviously my monthly payments are higher.....guess its preference :O
To me the whole "monthly payment" thing is how advertisements get people.....ya know "$99/month!" and your paying it for 7 years and end up shelling out a few k just in interest....
When you're talking used your always best paying cash in full.....my opinion. Also on a "new" bike its more "normal" to take out a loan...I know...human psychology is a trip :laugh.................. For a used bike, apparently, it's hard to get rates like that.
Very helpful^^^ NOT :thumbdown:You know they're all going to be different. Are you not familiar how credit works? If you were, it seems like you wouldn't be asking that question.
Soooo.... You don't believe in perhaps establishing credit?The argument could be made that "buying" a bike on credit rules you out of the fiscally responsible category...