Has anyone financed an atv through the honda finance card, or should I say the credit card..
I looked at that option only because I could walk straight out of the Honda dealership with a bike in hand.

 

I didn't necessairly use the honda card I have the honda credit though and they did it over the phone and I was approved before I even arrived at the shop. I purchased a 2000 foreman es, and I am loving it. They were easy to work with, I haven't got my coupon book for payments yet.

 

Yes, it is easy...

...but you end up paying some insane interest rate (like 16.99% I think). This card is mainly designed for people who cannot get credit otherwise (or those who just don't read the fine print).

If you can, you will be much better off getting a normal loan through your bank. Heck, the interest rate on many Visa cards is better than that!

Unless you just have horrible credit, shop around for a better deal on a loan. You'll save hundreds, possibly thousands in the long run.

Or...if you do have bad credit, get the Honda loan, then apply for a bank loan after you make a few payments and your credit improves. Then you can pay off Honda with a bank loan, which will be at a much better rate (you can get 8-10% if you look around).

 

I dont know how Hondas program is set up but I know polaris's charges the interest just like a credit card it will really nail you in the end. I used my credit card because the interest rate was so much better. Good luck with your purchase.

 

i bought my rancher throught the credit card. its only 89 dollars a month for two years. i went throught the credit card because i figured with the payments that low i can save up enough money in two years to pay it off. it is true that the interest will empty your pockets. it also helps if you put money down on it. i put 1500 down. it all depends on your situation though. i know one thing for shure, when you do buy a wheeler i guarentee you will love it!