I know when I bought a car I used capitalone.com and they were great. Low rates, blank check option.

They only do 7500 and up motorcycle loans.

I may be buying a used atv(2004 model) next week and was wondering if there were any online places that were good.

My bank(bank one) does ATV loans, but IM sure they give horrible rates. My credit union doesnt do atv loans...only unsecured which is 10.9% I think..maybe 12.1%

any ideas?

 

call capital one back, buy two new atvs! or...hmmmmm...

i talked to a dude at capital one a while back about this. what we talked about was that, yes, the amount they finance has to be atleast $7500. however, what we kicked around on the phone is that what could be done (legal by the way) is you and the dealer could set a price favoring MSRP, no discount. on like a NEW yfz450LE that is pretty high at over 7k, with taxes and stuff you will be at the 7.5k mark and clear to go forward with a capital one loan. BUT, it has to be clear with the dealer that they will pay you the difference btwn MSRP and a negotiated price for the bike- kinda like a rebate- it just wont be in the offfical deal but more of an agreement between you and the dealer AFTER the $$$ goes through. then you take that difference in cash from the dealer and and stick it back on the loan at capital one. now you have a new bike, a good interest rate.

i admit, it may not be the absolute smartest use of money (though clever) but it will get you a new bike at a good rate. MSRP of the bike just has to be enough to make it at or over 7500 after taxes and stuff.

otherwise save a little more. try to stay away (im sure you know) of the atv deal out there from yamaha and places that offer like $39/month while they are acruing ginormous amounts of interest during the 1st 2 yrs.

you may wonder why i didnt do the deal i spoke of above with capital one. it is b/c i bought the 450R. had i went for the YFZ things may be different. honda was straight 6.9% for the entire term. you may want to look at at them and get a new honda.

 

You could get a signature loan or you can get a low fixed rate on a lot of credit cards.

 

what is a signature loan?

The only loans my credit union does:
Home Equity Closed-End Loans
Unsecured Loans
Automobile Loans
Share Secured loans
Co-Maker Loans
Seasonal Loans
Education Loans
VISA Credit Cards


Im gonna try my bank tomorrow and see what I come up with.

 

If you have State Farm insurance, check with them. Some, but not all offer financing.

Mine said 60 months as low as 5.24% if over $5,000.

 

When we bought a house years ago, we wanted new carpet but the bank wouldn't put it in the mortgage note and I just put all my cash on a down payment. The bank gave me an uncollaterlized loan of $2k and called it a signature loan. It was about 8% but this was in 1996, so it was a pretty good rate at the time.

 

Dont have state farm insurance, but I called for the hell of it.

Used they offer 100% of trade in value of a bike. New 100% of invoice. Not too bad, but Im not switching my insurance just for the loan.

Called my bank today and they only do new ATV purchases.

The wife already told me she wants nothing to do with the ATV, so anykind of home mortgage is out...


I cant believe nobody is willing to capitolize on this used ATV loan market through the internet...
Looks like Im back to a horrible rate through the credit union for a unsecured loan

 

Now that I think of it, I'm not sure if the state farm thing is only available for people who insure there or not...

I did a harley through them some years back, and it worked great. I also did a Cummins powered Ram through Capitol One and they were great, but like you said, they don't do smaller loans.

I'm shopping at quads (and interest rates) myself, and so far it looks like the deal at State Farm is tough to beat. They said there was a fee if you pay off within the first year, but other than that it is a simple interest loan. Might be worth another call.

Like you, I won't do the home equity thing. My goal is to pay the house off in about 3 years.