Whats the deal with yamahas $39 a month for any atv??
#11
Whats the deal with yamahas $39 a month for any atv??
Exactly. I am a big fan of the "no interest, no payments for X years". Heck, it's free money! Even if I have $3k in the bank for that big screen TV (which has been in the shop for the past two months getting fixed...but don't get me started on that...hehehe), I would rather let that money sit in the bank earning interest than pay cash for the TV. The catch is I divide the money borrowed by the number of months. So a $3k TV no interest for 24 months means I HAVE TO pay $125 religiously on that TV. True, if I hit a tight month I can skip a payment, or make a mininimal payment, but over 2 years, missing a payment here and there can mean needing to come up with several hundred at the end. The catch with those deals is if you don't pay it off at the end of the 2 years, then the back interest kicks in, and they tack on hundreds of dollars to the balance.
The Yamaha deal is quite similar. Since you're dealing with a larger loan ($6k most likely), many ppl may not be able to pay the necessary $250/mo to pay it off in 24 mos. The loan for the remaining balance is a good way out then, so long as you can get the loan. So reiterating everything that's already been said, don't let the low payment be the enticing factor; it's the factor that if abused will get you in the end. Look at the interest rate, develop a repayment plan, and you're in good shape!
Colby
The Yamaha deal is quite similar. Since you're dealing with a larger loan ($6k most likely), many ppl may not be able to pay the necessary $250/mo to pay it off in 24 mos. The loan for the remaining balance is a good way out then, so long as you can get the loan. So reiterating everything that's already been said, don't let the low payment be the enticing factor; it's the factor that if abused will get you in the end. Look at the interest rate, develop a repayment plan, and you're in good shape!
Colby
#12
#13
Whats the deal with yamahas $39 a month for any atv??
Which is why everything I own is used. I'd rather drive a 5 yr old car and pay $20k for it than borrow $70k to drive a new one (and take a $50k loss, not including interest, after 5 yrs). But most ppl want what they want, and can't afford to pay cash, so in modern day society, where living on credit is the norm, they do just that.
Colby
Colby
#15
Whats the deal with yamahas $39 a month for any atv??
It can definitely get some people in trouble that dont read the fine print and manage their money. I just bought a new YFZ450 and one option was also to lock the interest rate in at 6.9% for 4 yrs. Payments are about $150 a month, no biggy so I send in $200+ every month and will have it paid off likely a year and a half before the 4 yrs runs out. Be weary of the $39 a month it'll bite you in the butt for sure. The bank offered me the same 6.9% but wanted 10% down, and all fees upfront. Totaling more than $1000+ that they wanted up front to even do the financing. So flat cost thorugh Yamaha seems to be the better deal for me. That $1000 was already set aside for accessories not fees and crap!
#16
Whats the deal with yamahas $39 a month for any atv??
I was thinking more along the lines of taking advantage of the low intrest rate for 2 years. My bank cant beat that on a personal loan, or otherwise. Id still pay somewhere in the area of 150-200 a month just so I wouldnt be upside down after the 2 years of low intrest is up.
#17
Whats the deal with yamahas $39 a month for any atv??
Originally posted by: No2StrokeBs
I was thinking more along the lines of taking advantage of the low intrest rate for 2 years. My bank cant beat that on a personal loan, or otherwise. Id still pay somewhere in the area of 150-200 a month just so I wouldnt be upside down after the 2 years of low intrest is up.
I was thinking more along the lines of taking advantage of the low intrest rate for 2 years. My bank cant beat that on a personal loan, or otherwise. Id still pay somewhere in the area of 150-200 a month just so I wouldnt be upside down after the 2 years of low intrest is up.
I screwed up on my Grizzly. When the term was over, I went to the bank, and since I didn't have insurance, I had to get an unsecure loan at 13.x %!! oh well, I'll pay that off early too [img]i/expressions/face-icon-small-smile.gif[/img]
#18
#19
Whats the deal with yamahas $39 a month for any atv??
well.. i'm a monor also and all i gotta say is when we boguht our quad we put $200 down on a $4500 quad we are paying $100+ a month with a minimum or $56 a month at 7% intrest till 2008(i beleive) when we are all done paying well wind up spending $5600 [img]i/expressions/face-icon-small-happy.gif[/img]
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