Ok, I am in the market for a new 4x4 atv. I really like the Suzuki Eiger. right now suzuki is running a deal for $39 for 2 years at 3.9% then after the 2year is goes up to 11.something. Has any one done this deal. it sound like you are just payng intrest for the first 2 years. what do you guys think.

 

You would be paying down a LITTLE principal as well with that payment but you def DO NOT want it to go past 2 yrs with that financing deal. $39 per month for 2 yrs doesn't even equal a grand. Most Eigers (from what people on here have said are around 5k...some a little less and some a little more. There is one new post on here on the special edition one this yr (because they have sold 100k Eiger's) and she can get it for around $4,600 otd for a 5 speed!

So let's take $5,000 at 3.9% and it is $195 and just for the sake of this being easy....just times $195 by 2 for the two yrs although it should be a little less the 2nd yr because you have paid down some principal. I would say to go for that rate ONLY if you can get it paid off in 2 yrs at $5,000 otd as an example, that would take $225 per month and at the end of 2 yrs you would have it paid off.....and that is with nothing down. If you are going to string this loan on for a long time then don't do this deal because the 11% is ridiculous...contact a credit union in your area then but know they will charge you ar 5, 6, 7% for the 3 or 4 yrs you want to go. Your best bet is to do this deal and get it paid off in TWO YEARS....at right around $225 per month or put down a grand and you would be at around $180 per month for 2 yrs.

 

I'm with stocks on this, avoid those low payment deals from the manufactures - they are basically a legal ripoff that will trap you into a high interest commitment that you cannot get out of. Find alternate financing with a credit union or bank.

Jaybee

 

well you could do it and it would be fine but ONLY if there are NO prepayment penalties (it would be very uncommon if there are) and you overpay so that it is paid off by the end of the 24th month and you never hit their 11% interest.

You do that and I would do it!!!!

If not then go to a credit union near you... and take an hour and call 5 places....you will be amazed at the difference in rates. That 1 hour could save you over a $100....people don't understand this and there is no place this makes more sense than on a 30 yr mortgage!