Do the manufacturers loan offers affect your choice of quad? Some people buy because they like a specific brand and others because they really want a specific quad. (I realize a lot of people will get loans from a bank or pay cash.) How many of you lean towards a certain quad purchase because of a loan offer and or interest rate?

There are a lot of different offers out there. Some have fixed rates and others do not. Some are easy to understand and others are not. I've been looking at different offers. That led me to wonder if a percentage of Hondas sales are because of their basic fixed rate? I know this would not sway some people but does it sway some?

Some manufactures will offer a low payment and low interest rate for the first 2 or 3 years. Then they wack you with a above average interest rate in the middle of the loan. Example- Polaris offers 5% interest for 2 years at $50. a month and then it jumps up to 17.9% interest. Kawasaki offers 3.99% at $39. a month for 3 years. Then the interest rate jumps up to 17.8%. Honda offers a fixed rate of 6.9% for the entire duration of a loan. Arctic Cat does not offer anything at this time. Yamaha offers 3.9% for 2 years and then it jumps up to either 9.99%, 13.99%, 17.99% or 21.99%. [img]i/expressions/face-icon-small-shocked.gif[/img] (My one neighbor was complaining about his Yamaha loan. I don't think he understood the loan at the purchase time. Now he's really paying.) Suzuki offers a 9.99% fixed rate for the duration of the loan. - Some manufactures have a couple different loan offers. Suzuki also offers a reduced payment and interest rate and then it also jumps up later. The best offer I've found is from Bombardier. Bomb offers 5.9% interest up to 72 months.

Do certain atv companies sell a percentage more quads because of their loan rates?

 

Don't know but I've got credit cards at 5.9% fixed so I can't imagine people paying 10+. Guess it depends on your credit history though.

Rather do that than play games with a dealer. I've also heard some require you to carry insurance if you finance through them? Anybody run into that?

 

I have heard about that. When I bought my foreman. I had to sign a paper saying that I was notified that the purchase of specific items is voluntary and NOT required.

 

Did you mean they had to purchase insurance through the dealer or just obtain insurance? New car loans require that a person carries full insurance. I've never had to obtain insurance to purchase a quad with a loan. I do believe that some places might require it.

 

Just obtain and carry insurance through the life of the loan. I heard that a while back but I've never financed through a dealer.

 

I say cash only, interest will kill you. A lot of people don't know how much they actually pay when they calculate in the interest.

 

Gave $4k for mine used at 5.9% for 3 years would be $122/month and $375 in interest. Beats saving for over 2.5 years.

Especially since my wife spends until it's gone. [img]i/expressions/face-icon-small-mad.gif[/img]

 

As hard as ATV loans are to get, you would think they would give a much better rate than what they offer. Suzuki offered a fixed rate of 6.9 back when I bought my Ozark but I couldn't get it. My credit was good but obviously not perfecto so they threw 11.9 at me. I said "Thats like NOT happening!" Went to the Credit Union and got a personal loan (signature) for 8.9. A few months later me and a buddie bought a couple of 400EXs. Honda had a fixed rate of 6.9 but would only offer me 4 years and not 5 which was cool with me cause I didn't wanna go 5 years anyway. My buddie took the 5 year loan but bought all that BS they throw at you (disability/no worky insurance and extended warrentee) and his payments are higher than mine............[img]i/expressions/face-icon-small-happy.gif[/img]