Yamaha Financing

[poultond]

Just curious if anyone financed their bike with Yamaha's current $69 for 3 months offer.

I'm on the fence about it but I'm thinking I could pay more than the $69 per month with the gas $$ I would save and apply part of my work bonus money towards it as well.

 

[bleego]

I did it mostly because I wanted the flexibility of only having to pay $69 per month if I needed to redirect my funds elsewhere, keep in mind that the $69 does jack to your actual balance. If you go this route you MUST have a good plan for paying it off for the 2 years, .. I think you need to pay down about 300 ish a month to actually get it paid off in the 2 years.

I have a little bit left to pay on my car and then I am going to go all out on the rest of my balance ( still have a bit over a year left )


-Edit-

I just noticed that yours is $69 for 3 months? I can see the 24 months on yamaha's website, but if they are seriously offering for 3 months, just .... no. Only do that if you have another card with a 0% balance transfer option for a while or something and are transfering it right afterwards. ( and if you have that option, thats a good way to do it anyway )

 

[fz6nick]

I bought mine end of may, beginning of june. I got 69 a month for 2 years then w/e i owe, like 130 the next 3 years. Im making 100 a month payments or more if I can. Plus I put boots, Jacket, Exhausts on there. YIKES!

 

[Cloned]

I got $89 for 3 years. I'm putting at least $250 on it each month though. If I don't get it paid off in that time the APR will skyrocket. The low payments are good just in case something comes up and you can't afford to pay a whole lot for that month.

 

[chuckfz6ryder]

That's the way I bought my last 3 bilk es. I usually make the payments( my wife's xt225 was only $39/mo for 2 years), then I pay them off with bonuses or tax returns within the 2 years. Makes it easy to walk out of a dealership with a new bike:Sport:

 

[D-Mac]

These deals can be good but ONLY if you have a plan to pay it out before the rate shoots up (as others here have said). You definately want to be able to start paying it off regularly from the start. Having some cash in hand is a big plus too. You can count on selling it later if times get tough since depreciation on our bikes is steep at first. I've never bought a bike this way, but I did do something similar on a Yamaha PIANO a few years ago (seriously).

Don't forget - you also need $$$ for farkles:thumbup:

 

[Hellgate]

Sounds like a sub-prime mortgage to me.

 

[08fz6]

great as long as you have much more than that to put with it each month the $69 a month barely covers the interest.... Have seen many people in that 10 years we were a dealer get approved at 19-21%... I just shook my head.... so becareful what you do. a credit union is the best way to go! I have mine through a personal loan at just under 4.5% and being that the title is free and clear no leans! best way to go!!!