If I were you I would look for a used one. You could save alot of money, just dont buy a lemon.

 

ok i have 1000 do u use it for downpayment or monthly bills? if i do that low apr for two year with 1000 down how much do u think my payments will be? I need to get this wheeler lol..And if you own or ride a 400ex go right ahead and tell me stories about fun rides lol i need incouragement lol. I wish some of you people could go riding up here on the north with me you would love the area. well i will stop going on.. thanks

 

I'm going to calculate your loan at $5900 because it will probably be around there with tax and everything...however, if the Honda dealerships are trying to get them out the door like people say they are, then you can most deffinatly get it a fair ammount cheaper.

Anyway, $5900 - $1000 down = $4900

2 years at 6.5% = $218.28 / month (Total Interest Paid - $338.63)

3 years at 7.9% = $153.32 / month (Total Interest Paid - $619.61)

4 years at 8.9% = $121.70 / month (Total Interest Paid - $941.84)

5 years at 9.9% = $103.87 / month (Total Interest Paid - $1,332.17)

As I said, depending on how much you get it for out the door (with taxes and dealer fees) the payments may be higher or lower. Either way they shouldn't fluctuate more than $20 per month unless I am like $1000 off.

I think that the 3 year plan looks pretty reasonable...the 2 year plan may be hard for you to swing if you don't have a lot of cash. I would use the 4-5 year plans ONLY if I absolutely had to...avoid them at all costs. 1 year is a long time in real life even though it doesn't seem like it on paper.

Also, the longer you stretch your payments out for the more the more you are going to be bound to driving the same quad for a while. Just figure, after 2 years on the 5 year plan you will still owe almost $3800 (4800 if you didn't put $1000 down). Sure, you can probably get $3800 if you sold your EX used, however that would mean that you start back over at $0.00 .

As for looking for somebody to tell you how much fun they are...Well I've got one and I can tell you that they are a ball. I can't say for sure which one I like better, My Banshee or my EX. The Banshee is a rush, but the EX may be "more fun" to ride because it's much easier to ride no matter what you are doing.

Anyway, that is for a different post.

-Josh

 

<< 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. >>



Your bike/atv is only as fast as your bank account! [img]i/expressions/face-icon-small-smile.gif[/img]

 

<< 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 >>



That income alone wont qualify you though [img]i/expressions/face-icon-small-sad.gif[/img]

 

<<

<< 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 >>



Ask for a line of credit next time.

 

<< I'm going to calculate your loan at $5900 because it will probably be around there with tax and everything...however, if the Honda dealerships are trying to get them out the door like people say they are, then you can most deffinatly get it a fair ammount cheaper.

Anyway, $5900 - $1000 down = $4900

2 years at 6.5% = $218.28 / month (Total Interest Paid - $338.63)

3 years at 7.9% = $153.32 / month (Total Interest Paid - $619.61)

4 years at 8.9% = $121.70 / month (Total Interest Paid - $941.84)

5 years at 9.9% = $103.87 / month (Total Interest Paid - $1,332.17)

As I said, depending on how much you get it for out the door (with taxes and dealer fees) the payments may be higher or lower. Either way they shouldn't fluctuate more than $20 per month unless I am like $1000 off.

I think that the 3 year plan looks pretty reasonable...the 2 year plan may be hard for you to swing if you don't have a lot of cash. I would use the 4-5 year plans ONLY if I absolutely had to...avoid them at all costs. 1 year is a long time in real life even though it doesn't seem like it on paper.

Also, the longer you stretch your payments out for the more the more you are going to be bound to driving the same quad for a while. Just figure, after 2 years on the 5 year plan you will still owe almost $3800 (4800 if you didn't put $1000 down). Sure, you can probably get $3800 if you sold your EX used, however that would mean that you start back over at $0.00 .

As for looking for somebody to tell you how much fun they are...Well I've got one and I can tell you that they are a ball. I can't say for sure which one I like better, My Banshee or my EX. The Banshee is a rush, but the EX may be &quot;more fun&quot; to ride because it's much easier to ride no matter what you are doing.

Anyway, that is for a different post.

-Josh >>



Good job on the post!