Well Kawi had the 0% offer on the website this morning but it is gone now. The link didn't work so they must be fixing it.

 

Yes Jaybee, the house comes first. My 99 400 4x4 still runs great so there's no real hurry on a new quad. As far as my credit rating goes, the last time we checked I had a 780 and the wife was @760. I do have three credit cards with 0 balance. Should I cancel some of these so I don't show an open line of credit?

P.S. last time we were pre-aproved for a home loan, they aproved us for the amount we are looking to spend. That was including my current house note as one of my bills. I know I will get approoved for way more than I plan on spending. There will be money after this for a new toy. I hope they upgrade the big dogs by then or at least have all the bugs worked out.

 

Dave - There is no need to cancel any of the 0 balance credit cards. They don't hurt you and do show that you don't push your available credit to the limit. Quite frankly, with your 780/760 rating, your only limits will be the appraised value of the home you want and the % of income needed to dictate a payment amount. When you reach a 700-720 you are a lock for the lowest available interest rates. With a 780 you are in the yes-sir-how-can-we-help-you-would-you-like-something-to-drink-whatever-we-can-do-for-you range.

Congratulations. Few people have the smarts to manage their credit so well.

Jaybee

 

Jaybee, Thanks for the compliment. My moms has been a loan officer for a credit union for as long as I've been dealing with money. She taught me from early on how to be responsible and obtain a good credit record. I'm glad I listened to her on that one.

Looking at your replies, I assume your vocation is with a financial institiution?

 

Nope. General Contractor. But I own my own business and learned long ago that banks are simply in the business of buying and selling money.

And like you, I listened to my mother.

Jaybee

 

The 0% deal is finally on the website.

 

The way I read it= it's either 1. 0% until 01-2003 then it would go to 16.8% for the remainder OR 2. 0% for six months, then 12.99 for 18 months, then 16.8 for the remainder.

So, just hypothetically speaking, if someone went with the first option and then paid it off with a low interest credit card on 12-31-2002. Would kawasaki mail them a title to show their loan paid in full?

(Once again I'm not going to do this, I'm just wondering.)

 

That's how I read it too. Like most of the 0% short term balloon offers, it only makes sense if you know you have a source of money available by the end of 2002.

I am curious though - If you have no down payment, no payments and no interest during that first year (or six months for option # 2), how would it be possible for your account to "not be current" as listed in the fine print.

All in all if I were to borrow money for an ATV, I'd just get a loan from my credit union at 6%.

Jaybee

 

I thought it meant if you missed a payment or something but with zero payments it doesn't make a lot of sense. I wonder if it is a misprint?

 

Yes, that is a very odd way of putting it. Zero payments, but you must mail in the payment slip? If so, that would be .32 cents, not ZERO.