I paid off my FZ6!!!

[Avalon786]

It feels just like last week, end of August 2006. Picked up my FZ6. Made the last payment a month ago. Got my title in the mail. Its been a nice ~10,000mile ride, and I'll keep on adding those miles (although I have not put many on since moving to the state of WA :disapprove:

 

[gpostarmy]

Must be nice. I hope to have my car and bike done by the end of the year. Congrats.:cheer:

 

[CCHOUSEKY]

Congrats, Avalon! I just paid off my car the end of June (first car I've ever paid off...lol) and now I'm doubling up on my bike payments and will have it paid off by the end of the year.

It's a great feeling, isn't it??? :thumbup:

 

[FIZZER6]

Congrats...it's a great feeling to have no payments on cars or the bike!

I am a firm believer in not buying a vehicle you can't afford to pay off in under 1 year!

When I bought my 2006 Yamaha was offering a 6-month zero interest financing plan. I took that option and worked a second job for 6 months and paid it off in full 5 days before interest would start accruing! :thumbup:

 

[CanadianFZ6]

It feels just like last week, end of August 2006. Picked up my FZ6. Made the last payment a month ago. Got my title in the mail. Its been a nice ~10,000mile ride, and I'll keep on adding those miles (although I have not put many on since moving to the state of WA :disapprove:

Congrats... Just in time for Yamaha's all new re-designed 2012 FZ6... Doh... back to the bank for another loan... LOL



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Kidding, I know nothing about any of the 2012 Yamahas

 

[jrevans]

I bought my FZ6 on my credit card! :BLAA:

I did it just to get "points", and don't worry, I had the money and paid it off that month. :rockon:

I've actually never carried a balance on any credit card in my life. If I can't afford it, I don't buy it. No way will I pay their crazy interest rates unless I'm in some sort of strange emergency.

 

[FIZZER6]

I bought my FZ6 on my credit card! :BLAA:

I did it just to get "points", and don't worry, I had the money and paid it off that month. :rockon:

I've actually never carried a balance on any credit card in my life. If I can't afford it, I don't buy it. No way will I pay their crazy interest rates unless I'm in some sort of strange emergency.

I've always shared this view. I only use a credit card because it's accepted almost anywhere. I never keep a balance on it. Live within your means! Never give a woman your credit card!

There are two ways to be rich: Make more or want less.

 

[LeaN69]

Congrats...it's a great feeling to have no payments on cars or the bike!

I am a firm believer in not buying a vehicle you can't afford to pay off in under 1 year!

When I bought my 2006 Yamaha was offering a 6-month zero interest financing plan. I took that option and worked a second job for 6 months and paid it off in full 5 days before interest would start accruing! :thumbup:

Same here, I payed off my FZ in 10 months on a 3 year promo rate.

It is nice to have extra cash to stash away every month

Congrats!

 

[DownrangeFuture]

Paid cash for mine. Plan to do that for every vehicle we own. Maybe not do the debit card thing next time though. That was an experience.

 

[callmegandhi]

Now that's the American dream!

 

[lazerfazer]

what are the typical interest rates for bikes, and with that being said, what was your monthly payment?

i bought all my bikes with cash, because i knew if i was going to finance and then mod it i would get in over my head...

so back to the Questions:
interest rate & monthly payment

 

[LeaN69]

what are the typical interest rates for bikes, and with that being said, what was your monthly payment?

i bought all my bikes with cash, because i knew if i was going to finance and then mod it i would get in over my head...

so back to the Questions:
interest rate & monthly payment

4% APR when i got my, minimum payment was $12x.xx actual amount required to pay it off in 36 months was something like $230ish??

And if it takes you longer then 3 years to pay it off interest goes up to 19.9% ....sweet, isnt it? which it will if you make minimum payments.

 

[LERecords]

I payed mine off 2 years after getting it.. did the 0% from yamaha for a little less than a year.. then put the balance onto a 0% credit card.. total interest paid was somewhere near the $250 mark..

Congrats on paying the bike off though.. great feeling when you know that its all yours....

 

[08fz6]

I bought my FZ6 on my credit card! :BLAA:

I did it just to get "points", and don't worry, I had the money and paid it off that month. :rockon:

I've actually never carried a balance on any credit card in my life. If I can't afford it, I don't buy it. No way will I pay their crazy interest rates unless I'm in some sort of strange emergency.

likewise, didn't use my credit card for my bike, but have never paid any interest. I get hotel points with mine. between my job and my credit card, I received enough points from the end of august last year to may this year and got $1200 in best buy gift cards.

 

[Humperdinkel]

Congrats :cheer: It must be a fantastic feeling :thumbup:

 

[08fz6]

It feels just like last week, end of August 2006. Picked up my FZ6. Made the last payment a month ago. Got my title in the mail. Its been a nice ~10,000mile ride, and I'll keep on adding those miles (although I have not put many on since moving to the state of WA :disapprove:

congrats on paying it off, but how much did you pay in interest? 5 year loan on a $6800 purchase?

 

[08fz6]

I paid $6200 for my bike otd, and 3200 was cash, $3000 was against CD's in my bank account. I had the bike paid off 8 months after purchase. I only paid $70 in interest....

 

[Avalon786]

So I had 2 loans, $1000 down. One for $5000 on a yamaha credit card that they used as a down payment to get me my second loan from HSBC for like $4000 something. Yamaha loan was at 16.9%, HSBC at 13.4%. I totally got ripped off. Haha. I was 20, young dumb, never made a big purchase, lived with friends and my parents were both overseas (so no wise guidance) I got ripped off big time! They sold me my fz6 for like $8800 I think, then a month later I see their other 2006 fz6 for $5000 on sale....Oh well, lesson learned (when I purchased my new car I got it for $8000 under msrp ) but my monthy was about $250/month. I think in the end I paid well over $13000. I am lucky it was my dream bike (since I had seen them in Europe!) and still to this day I just stare at it without ever getting bored. It since has LeoVince exhaust and Givi TopCase, really the only mods I needed. But yeah I think I might have gotten the worst deal on a fz6 in history! lol...
When I purchased it I did not even have a steady income (part time, $10/hour), did not know where I was going in life. It was my first loan for anything, did not even really have a credit card, I had no way of affording it, but heck, it all worked out in the end. All those hours riding the canyons, all the people I met, the friends made and in the end I have my dream bike (that I will ride till the wheels fall off! lol) are worth it to me. Next bike purchase I will at least put half down, lol!

 

[novaks47]

Congrats! It's a great feeling every time! :thumbup: Heck, I just got a notice in the mail today letting me know my FZ6 is paid off as well. Yessss...... :Flash:

 

[AngelFZ]

Congrats!!!!!!

Right now I own about $400 on mine!!!!!

So, around September I should be getting the title :thumbup: