Buying a new quad: Finance or not? - ATV Enthusiast Community

Buying an ATV Questions and suggestions about what to buy, financing, insurance, etc.

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Old 03-17-2009, 11:46 AM
Weekend Warrior
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Join Date: Mar 2009
Posts: 3
Default Buying a new quad: Finance or not?

This is my first post here...

But lately ive been out riding alot more on my dad's rancher 350 4x4 just to keep up wiht my buddies foremans and can ams and what not....

Well the bug has bit me and i must say, i want a new quad.... I love my buddies can am outtie 800.... i mean LOVE.... but ive also thought i cant really afford it so ive looked seriously at the 600 outtie, bruteforce 650 or 750....

So here is my dilemma, im a college student but i work construction as well... i pull maybe 1600 a month? I also have truck payments running me about 265 a month..

Ok so here is my thing... i got the itch, im very impatient and i dont know HOW long it would take me to save the money to pay for a quad in full so im really seriously thinking about financing.I have a 1997 honda fourtrax 300 2x4 in FLAWLESS shape. I could trade that and stick 1000 on top of it for a down payment of idk 2500? At least i figured i could get 1500 on my quad for a trade... idk

SO im wondering, do you believe financing would be a bad idea??? I think i can afford it but i just dont know what kind of payments id be looking at if i did finance??? figuring putting down 2000 or so on one then getting a loan with a FIXED apr... is this feasible thru a dealer???

I also have to ask about what a new can am 650 or brute would run me after taxes??

SO here are the questions i need answered i guess...

1) Brute 650 or can am 650, which is the better deal? I do alot of mudding and heavy trail ridng but im also a hardcore bowhunter so it will drag deer out on occasions and maybe pull implements for foodploting.. I dont just want to know which one may perform better, but which one is the best DEAL... like if one is more affordable than the other

2) how much do you think i could sell my 97 fourtrax 300 (good shape) for?

3) is it possible to finance a used quad, like say i find a deal in the classifieds?

4) Do dealers financed their preowned inventory.... like say i find a used model on the showroom floor, i dont have to pay in cash?

5) what kind of monthly payments am i looking at with good credit, maybe a 36 month term, fixed apr of around 5%... this saying i have a down payment of 2000 or so?

6) do you have any other suggestions or help that i may need to know in order to keep myself from getting into a bad situation?

7) do you think its feasible to find a used machine can am or kawi for under 6000????

Sorry for all the questions, im just new to all this!
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Old 03-17-2009, 09:12 PM
Pro Rider
Sound advice there. "Hey, watch this........"
Join Date: Mar 2000
Posts: 2,000
Default Buying a new quad: Finance or not?

1. Either one is good for what you want to do. The Brute will be cheaper than the Can-Am, unless you really plan to buy all the stuff that comes with the Can-Am XT package. When I've priced them out, if you add the XT options to the Brute, it costs the same or a little more than the Can-Am. BUT, this is only a factor if you want the XT stuff anyway.

2. You can probably get $1,500 for your 300 in a private sale. Maybe a couple of hundred +/- depending on the market in your area. Times are tough so there are a LOT of ATV's for sale. Take a look at in your area (RV or motorcycle sections) and see what other ATV's are selling for. You will get much less for a trade, probably well under $1K.

3. Yes, you can finance a used quad - through your bank or credit union. Probably have to be less than 5 years old though.

4. Some dealers may finance some of their pre-owned stock. Many dealers only have used vehicles on consignment, some do have used models from trade-ins. It really depends on the dealer and the ATV. Here too though, you may be able to finance through your local bank or CU.

5. If you can put down $2K and you are looking at full sized 4x4 then the ATV will run you at least $8K. Giving you a balance of $6,000 to finance. $6K at 5% for 36 months will run you $180 per month. To help you figure, If you can get three-year financing at 5%, then each thousand dollars financed will cost you $30 per month.

6. DO NOT, I repeat DO NOT sign up for any of the manufacturer finance deals that have an introductry low interest or low payment. These are those heavily advertized plans that can get you in your new quad for a payment of only $69 per month. What they don't highlight is the fact that the low payment is only for the first year or two. At the end of that time period you are bumped into a higher interest and higher payment - only now you have a bike that you are upside-down on so you can't even sell it without a loss. One of these deals can kill your credit for years. The ONLY way to use these low intro deals is if you know that you have the money or alternate financing to kick in before your original note balloons into it's higher interest. If that's the case, then you can use the cheap money for the first year or so before converting it to a more reasonable financing plan.

7. Absolutely!!!! Again, check Craigslist in your area - there are all kinds of quads for sale there - enough that you can be selective and find a real deal on a almost new ATV. Prices will be thousands less than new. Since Craigslist does local listings, you can check out everything first hand before you buy.

Other advice: You're young and I can understand you wanting more than a 12 year old 300 to ride with your friends. At the same time, it's much wiser to set your sights on an affordable ATV rather than that "ultimate" ATV. No question, that big powerful Outlander 800 is an amazing ride (I know, I have one) but realize that a new one will set you back about TEN GRAND!!!!!!! Even the ultimate ATV becomes less fun if you don't have any money to play with it. First figure out just what you can realistically afford, then talk to your bank or credit union and get accurate loan figures. Then start shopping. Look for a one to three year old ATV that fits in your price range. In the meantime - clean up that 300 and list it on Craigslist. Listings are free so you are out nothing. The best thing you can do is to sell your quad first, then start seriously looking for the new one. Remember, very few of us here started out with the best quad out there. Buying your quads in steps also clues you into what features you really want when it does come time to buy that ultimate ATV.

Good Luck.

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Old 03-18-2009, 02:10 AM
Red Rider
Honda, accept nothing less!
Join Date: Dec 2002
Posts: 12,734
Default Buying a new quad: Finance or not?

I couldn't afford to ride (dirt bikes back then) when I was in college, so I did the mountain bike thing. I worked evenings in a clinical lab, and summers I also worked construction.

With sales being slow and manufacturers and dealers dying to make sales, seems like one should be able to find very good financing rates.??? Whether that is a good idea for a student or not, is another issue.
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Old 03-19-2009, 09:32 AM
Pro Rider
Join Date: Jan 2008
Posts: 446
Default Buying a new quad: Finance or not?

I'm just gonna answer one point....

1) I believe that the Brute 650 does not have EFI, whereas the CanAm does. They are both powerful V-Twins.
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Old 03-19-2009, 06:11 PM
'5 minutes worth of planning equals 30 minutes of execution'
Join Date: Nov 1999
Location: Texas
Posts: 1,722
Default Buying a new quad: Finance or not?

Be careful. The % rates offered on 4 wheelers are quite high unless you can find a promotional deal from the manufacturer.
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