hello i need a 400ex i love atv i have 1 million trails where i live but not to much money what kind of finaccin should i do??/ i need low monthly payments for a new one please help me out lol thanks how low can my payments get?

 

if you want low payments go for a 5 year plan and try to get the best apr possible pending on your credit. also shop around and find a good dealer with the lowest otd price you can get and remember the more you down payment the lower you are financing. hope this helps.

 

You want to know what I think is the best thing to do? Don't go for the 400EX right away. If you don't have the money, settle for something smaller like a Blaster, 300EX, Trail Blazer, or Warrior.

Ask yourself this:
Would you rather have a fast quad, or a fast draining bank account?

Make the practical choice.

 

Well Honda's got that special $29/month deal going on right now so if you have okay credit or can get somebody to co-sign for you, you can do that.

However, I'm not a big fan of those deals....Whatever you don't pay now you pay later. Plus with that deal I think you have to purchase it on the "Honda Card" and after 6 months it jumps up to like 17% interest. You'd be paying about $7000 for a 400ex by the time you got done with taxes, interest and everything.

The other deal they have is 6.5% financing for 24 months and if you could get away with the higher payments and pay it off in two years you'd come out okay. Otherwise it goes to 7.9% after 36 months, 8.9% after 48 months, and 9.9% for 60 months.

Also I just checked Honda's website and they are offering the "Bonus Bucks" promotion. If you purchase a 2002 or 2003 EX you get an additional $300 worth of crap for it. Some dealers say that if they give you a special deal on the quad you don't get the money, but if you can find one selling them for well under the MSRP and also get the $300 cash that sounds like a good deal.

Those rates actually don't sound all that bad, and I think Honda financing would be easier to get than if you were to go directly to a bank (because it "sounds" like you don't have a lot of credit established).

Just be sure not to get sucked into any deals that don't sound right or sound "too good to be true". If you don't know much about this stuff be sure to bring somebody with you that does and make sure you read all of the terms carefully.

Anyway, Good luck with your purchase.

-Josh

 

Whatever you do, STAY AWAY FROM THE HONDA CARD. It is a cedit card and will take you many years to pay it off. On the wifes quad, the intrest was more than the payments. Get a regular loan for as little as you need to get the quad. First rule of finace is Never finance a depreceating (sp) item.

Smitty

 

A 1000 dollar downpayment and a 5 year plan will only have u payin 95 or so a month. You definetly need to shop around and try to get a good deal. Obviously if you have no money don't get a 400 though. You better have atleast the 1000 for the downpayment. O yea by the way if you have no income, get one, work 5 hours a week somewhere and that pays ur entire monthly payment

 

thanks man for the info i like it yeah,,i have so many trails by my house i swear it the best in the nation. mine pits huge, but need a ex

 

Please do not take this the wrong way, but if you do not have the money now maybe you should be looking into how you can make money to buy what you want. It is called deferred gratification. If you can't afford the quad now, then spend all of your free time riding it, then how are you going to pay for it?

I had a TRX 250 back in 1987, I had to sell it for money when I went off to college. I spent 10 years in school, living quite cheaply. I just got back into riding last year and I appreciate it even more now.

Again, I am NOT trying to tell you what to do, I just hate to see young people fall into financing traps that takes years to ever recover from.

 

I decided to go with the 9.9% interest for five years. With no money down my payments are $101.54
Piranha knows what he is talking about. You'd be wise to take his advice.

 

<< STAY AWAY FROM THE HONDA CARD. It is a cedit card and will take you many years to pay it off. On the wifes quad, the intrest was more than the payments. >>



That is what I thought too until I checked Honda's website. Like I said, looks like you'd only pay 9.9% if it took you 5 years to pay it off. Maybe I'm missing something.

I took a loan out for my Banshee just to establish some credit and it was like 12% and that was only for 2 years!!! I couldn't believe it. Yes, that was loan from the bank. Plus since the bank owned my quad I had to get full insurance on it which believe it or not was rather expensive as well. I could have avoided the insurance if I got a personal loan however the interest would have been 16% if I remember correctly.



<< I decided to go with the 9.9% interest for five years. With no money down my payments are $101.54. Piranha knows what he is talking about. You'd be wise to take his advice. >>



Thank you...I don't really know a whole lot...I just had some experience recently. My first ever loan and I never want to do it again. I hate banks and I have never had a good or easy experience with them. I lost out on a mint 2000 Banshee last year because of them. I called my Bank first thing in the morning and talked to a &quot;loan specialist&quot;. I explained that I had never went through the process of getting a loan before so I needed to know everything I had to do to get my loan processed. She said that I only needed to fill out one form. I asked if she could fax it to me since I worked about an hour away from the Bank and she said sure. After completing the form I called her back and she said that I had to physically bring it there and that I couldn't fax it. I needed to know about the loan that day so I drove an hour each way to bring the stupid form to her. When I got there she was reviewing the form and then said &quot;Well, before I can process this I need a bill of sale from the owner&quot;. WHAT??? I told her that I didn't buy the ATV yet so how was I supposed to get a bill of sale. She said &quot;Well maybe he can write you up a 'pretend' bill of sale just so we can process this&quot;. WHAT??? This lady was off her rocker, there was no way this guy was going to write a bill of sale saying that I bought his Banshee even though I hadn't given him a cent. I said &quot;I think you mean a PROOF of sale right?&quot;, and then she said &quot;Oh yeah, that's it.&quot;. At this point I was wondering if it was her first time doing this too. I asked what info she needed and she said Vin#, price, and a letter from his bank saying that the ATV was paid off. I was starting to get Angry because that morning she told me I only needed to fill out one form. Then I get there and she tells me that I needed all of this other info. I asked if there was any way that she could approve the loan with out that info, and just not give me the money until I provide it, and she said she had to call there &quot;loan company&quot; or something like that. She called them and then she told me that I needed to provide that info even for just a loan application. I asked if a fax from the guy would do, and she said no, she needs an original copy to send to the loan company. I asked how she was going to send it, and she said by fax. DUH! Then what difference does it make, they will be getting a fax anyway? After all of that she said &quot;Well, I guess a fax will do&quot;. So I call the guy and he doesn't have a fax machine, or even access to one. He had another guy that had looked at the Banshee and was supposed to be bringing the money sometime that day so he wasn't really motivated to help. So I drive the hour back to work and when I got there I called the guy again, got the info and wrote it myself and faxed it to the bank...I never said it was from him, they just assumed so. Also, I didn't fax it with a letter from his bank saying that the Banshee was paid off, but suprisingly they didn't say anything. So at this point it was about 1pm. They said that if you submit your loan by 12:00 they can let you know the same day. I called her to see if it would be possible to get an answer that day and she said probably. So I didn't hear back from her and it was about 4:30, so I called her back. She said that she wouldn't know that day because the loan company could not read the application form. She said it was because she faxed it to me and then I faxed it to her and the writing got all garbled. I reminded her that I phyically drove the form to her and that I did not fax it...she said &quot;Oh, you did?&quot;. Oh my god, is this person for real? I was just waiting for Peter Funt from Candid Camera to walk out any time now. Anyway, I called her the next morning and still no news. She said she would call me back by noon and I never heard from her. So I called her back again and she still hadn't heard. I called the guy with the Banshee and he said it was sold so I didn't bother calling the bank back because it didn't matter. I didn't hear back from her until that next Thursday (which was a week later)...she called to say &quot;Your loan couldn't be approved and you need a co-signer because this is your first loan&quot;. Gee, what great service.

So, the Banshee I currently own came around...this time I was smarter. I took cash out of my bank account and paid for it, then I went through the whole deal with the bank to get a loan for it. Even with a co-signer it took 4 days to process my loan and they &quot;claim&quot; that if you submit the app by noon they can get an answer that day. I had switched to this bank because I had a similar experience with my other one...I guess I just have bad luck.

Oh, I forgot one thing. After she told my my loan was approved, she told me to meet her at the bank at 8:30am to sign the paperwork. I was fine with that so I showed up the next day on time. I found my way to the &quot;loan specialists&quot; area and took a seat. A lady came out and asked if she could help me, and I told her I was there to see XXXXXXX, and that we had a meeting. She said &quot;Oh, well she is on vacation today, I'm sorry.&quot;. WHAT??? And as I was about to leave another lady walked out and asked if she could help me. I explained the situation and she said that it wasn't a problem and that she could help me. After going through the paperwork and paying a bunch of hidden fees my loan was complete. It was then paid off two months later.

Sorry for the extremely long story. I've been on hold with Dell support (another great company) because I need some drivers not listed on their page so I needed something to occupy my time.

Take care.

-Josh