Don't use HRS to finance your Yamaha!
Mar 28, 2001 | 10:18 PM
#11
Pro Rider
Joined: Jul 2000
Posts: 289
Likes: 0
Are you sure that HRS is Yamaha's financing company?
The reason I ask is that the info for the Yamaha card doesn't say anything about HRS. And the cards offered by the manufactures are a promotion by an outside credit provider.
Example: I have a Honda card that is handled by TransAmerica Bank.
It is actually illegal to routinely change the due date on a monthly bill. If you are still having problems than I would contact a lawyer and see what he can do.
The reason I ask is that the info for the Yamaha card doesn't say anything about HRS. And the cards offered by the manufactures are a promotion by an outside credit provider.
Example: I have a Honda card that is handled by TransAmerica Bank.
It is actually illegal to routinely change the due date on a monthly bill. If you are still having problems than I would contact a lawyer and see what he can do.
Mar 28, 2001 | 11:34 PM
#12
Pro Rider
Joined: Jul 2000
Posts: 289
Likes: 0
I just re-read your post,
That $29 is being added automatically by their computer. Somewhere your payment is getting mis-processed, someone on their end doesn't know how to set-up a computer program. I asume you've tried to call and b**ch at them.
There's no excuse for losing your title and then making you pay for their mistakes.
I know you've already paid the loan off, but I would definately check your credit report and make sure they didn't screw up that too. If it comes down to it, hire a lawyer. You have rights as a consumer that they infringed upon.
I have never heard of these problems from other people(a least 10 that I know of) who have financed a quad through Yamaha. Hopefully yours was a rare case. Hope this helps.
Good Luck.
That $29 is being added automatically by their computer. Somewhere your payment is getting mis-processed, someone on their end doesn't know how to set-up a computer program. I asume you've tried to call and b**ch at them.
There's no excuse for losing your title and then making you pay for their mistakes.
I know you've already paid the loan off, but I would definately check your credit report and make sure they didn't screw up that too. If it comes down to it, hire a lawyer. You have rights as a consumer that they infringed upon.
I have never heard of these problems from other people(a least 10 that I know of) who have financed a quad through Yamaha. Hopefully yours was a rare case. Hope this helps.
Good Luck.
Mar 29, 2001 | 12:00 AM
#13
Thread Starter
|
Pro Rider
Joined: Jan 2001
Posts: 311
Likes: 0
400exrydr,
Thanks for the tips.
Not all financing at a Yamaha dealer will go through their factory financing. Sometimes a local credit union will offer a better interest rate. As far as HRS goes, I'm led to believe they are the official financing company for Yamaha. I know the card does not have their name on it (at least I don't think it does?), but the billing statement says "Yamaha Factory Financing" with Yamaha's logo on it. I'll look into the deal about changing the due date, that never did sound right.
Thanks for the tips.
Not all financing at a Yamaha dealer will go through their factory financing. Sometimes a local credit union will offer a better interest rate. As far as HRS goes, I'm led to believe they are the official financing company for Yamaha. I know the card does not have their name on it (at least I don't think it does?), but the billing statement says "Yamaha Factory Financing" with Yamaha's logo on it. I'll look into the deal about changing the due date, that never did sound right.
Mar 29, 2001 | 01:55 AM
#14
Trailblazer
Joined: Dec 2000
Posts: 83
Likes: 0
I have the same problem. The first month I gave the check 4 days to get there and got a late fee plus they set me up on a defered payment plan which I didnt ask for. Anyway, I sent a $200 check to them the first month and only $38 went to the principal due to late charges and the defered first months payment interest. Needless to say I called them and gave them an earfull. They waived the late fee and I sent in the next payment 5 days early and everything went smooth. It was due on the 9th last month and on the 6th this month....go figure.
Mar 29, 2001 | 11:55 PM
#18
Pro Rider
Joined: Aug 2000
Posts: 1,392
Likes: 0
lol! good one..
Financing sucks, its as simple as that, cash talks, although it is nowhere as easy to save up the cash as it is to finance one
, you will be much better off doing the dirty work and being able to wave a little cash in their face.. The credit cards (honda) for example, it sounds great, low % rate, like mabe 0.05% or whatever, BUT you read the fine print and when you are late on any payment your rate goes to 0.20+%, say you finance $6,000, at .05 your total wasted money is $300 (not bad) at .20% you are talking $1,200, lets not go any higher (%)!, so you are paying $7,200 for a $5,500 quad (tax/title - from 6k) that loses at least $800 when it leaves the yammy shop if not $1,000, then you ride it once and you have a $3,500-4,000 (if you were to sell it) quad that you are paying $7,200 for. Sounds like a bum rap to me..? Its nice to be able to just go out and finance one, but it is SOOO much nicer to pay cash, then you get a deal, at the least $300 off, nevermind the $300-1,500 that you saved on financing... Anyways, just a useless ramble... if you can afford to buy cash do it, if not then shop around, try financing from banks before the dealers, at least they give a constant % rate. 
Financing sucks, its as simple as that, cash talks, although it is nowhere as easy to save up the cash as it is to finance one
, you will be much better off doing the dirty work and being able to wave a little cash in their face.. The credit cards (honda) for example, it sounds great, low % rate, like mabe 0.05% or whatever, BUT you read the fine print and when you are late on any payment your rate goes to 0.20+%, say you finance $6,000, at .05 your total wasted money is $300 (not bad) at .20% you are talking $1,200, lets not go any higher (%)!, so you are paying $7,200 for a $5,500 quad (tax/title - from 6k) that loses at least $800 when it leaves the yammy shop if not $1,000, then you ride it once and you have a $3,500-4,000 (if you were to sell it) quad that you are paying $7,200 for. Sounds like a bum rap to me..? Its nice to be able to just go out and finance one, but it is SOOO much nicer to pay cash, then you get a deal, at the least $300 off, nevermind the $300-1,500 that you saved on financing... Anyways, just a useless ramble... if you can afford to buy cash do it, if not then shop around, try financing from banks before the dealers, at least they give a constant % rate.
Mar 30, 2001 | 07:46 PM
#19
Weekend Warrior
Joined: Mar 2001
Posts: 8
Likes: 0
Holy crap, I'm not the only one! In '95 I financed a Polaris 400L (they will also finance other machines, not just Yamaha). I had the same problems with HRS. They would month after month charge my account the late fee and say that my payment was received the day after it was due. I even went as far as mailed my payment 3 weeks in advance and the same thing happened. I ended up paying off the account and I still had problems with them cutting me a check for the late amounts.
To make a long story short, I just bought last weekend a new Raptor and Banshee. I made sure I didn't have to finance this time.
To make a long story short, I just bought last weekend a new Raptor and Banshee. I made sure I didn't have to finance this time.
