financing on a quad

[IRISH-RACER-14]

i see on the yamaha site that you can pay for a new quad monthly, can you get those deals on all quads? im 16 and have a job as a machinest and i can afford 100 or less a month, i was wondering if i could get a deal on a honda 450r, suzuki ltr or even a kawasaki

[slightlybent47]

Just call the dealer and ask!!

[Scro]

I know Honda has a financing program. They advertise that payments can be as low as $69, and it will be for the first year or so. Then it jumps up quite a bit. It's all in the fine print.

[IRISH-RACER-14]

ill give new york honda yamaha a call

[Scro]

Originally posted by IRISH-RACER-14
ill give new york honda yamaha a call

I thought you lived in Ireland :p

Ive financed 2 of my quads. my old yfz and my kfx450. I forget what interest rate somewhere around 5%. but at 6700 OTD for the new kawi and 1000$ down i had a min payment of 80$ a month. Forget the length of term but its 100% affordable. But i doubt you will get that loan on your own. You will need a co signer.

[honda250xrider]

At 16 im not even sure if you could even get a loan with a co-signer. I would say your best bet would either have a older brother, or family member sign for the loan.

Luckily my brother was nice enough to sign for several things for me over the years, benefited me and also benefited him with his credit score.

[hotrodhonda400]

Originally posted by Scro
I know Honda has a financing program. They advertise that payments can be as low as $69, and it will be for the first year or so. Then it jumps up quite a bit. It's all in the fine print.

honda finance does not change your payment amount throughout the term if your payment is 100 bucks then it will be 100 bucks until payoff

[slightlybent47]

I financed my KLX and my EX through the dealer, my payments were $69.00 on the KLX and $159.00 on the EX but I paid them both off within a year so my interest was very little. I made sure I paid it off before I did any modifications, I even raced the EX bone stock the first year and still won the series.

[Scro]

Originally posted by hotrodhonda400
honda finance does not change your payment amount throughout the term if your payment is 100 bucks then it will be 100 bucks until payoff

Not sure why my minimum payment went up. I was paying close to $300 a month, even though my minimum started out at $69. After a year or so, it jumped up to $170 a month.

[CJM]

If your 16 there is NO way they are gonna approve you for the loan.

[yfzrider690]

They always get you with the low payments but those only usually last for a year or two and then they go up a ton like what happened to scro. Your best bet is not to finance through yamaha or honda or whatever quad company you end up going with. I went through my credit union and the interest was way better and it was a term loan so you always knew what the payment was gonna be. Good luck getting a new quad for 100 bucks a month, it will only be that low for a while.

[Scro]

Originally posted by yfzrider690
They always get you with the low payments but those only usually last for a year or two and then they go up a ton like what happened to scro. Your best bet is not to finance through yamaha or honda or whatever quad company you end up going with. I went through my credit union and the interest was way better and it was a term loan so you always knew what the payment was gonna be. Good luck getting a new quad for 100 bucks a month, it will only be that low for a while.

Good advice. I would have went with a bank loan if I knew what I know now. Well...actually, if that was the case, I would have just saved up and paid cash for it.;)

[buck440]

i have no credit and had my stepdad cosighn for a $4500 loan for my bike. got the money and bike the same day. the thing is is that after 4 months i'm already tired of the bike and have like $4000 left to still pay...it sucks now.

[SRH]

its not rocket science, if you have a 4 yr loan thru honda with a $69 payment its not going to pay the quad off.... then your intrest jumps up to 20% and you end up buying 1 450r for th eprice of 2.....

these are good plans in the sense if you make your 69 dollar payment but pay 300 , everything overt the 69 comes straight off the principle

[YFZ-FoFiddy-TC]

My payment is 123 a month and I also have part of a trailer fnanced on top of that. I paid 6200 OTD for the quad then my dad and I split the trailer half and half onto the loan. You could get a bike for just over $100 a month if you get a low interest rate.

[IRISH-RACER-14]

so my best option is to get a loan from the bank. i can get a loan here in ireland and buy the quad in new york and have it shipped home by the dealer

[bens250ex]

when i bought my ltr450 back in 08 i put 1500 down left me with around 6800 to pay off and ended up getting it payed off in 2 1/2 years, but i did not make min payments, my min payment stayed at $49 a month the whole time though. if your going to do it make sure you have a good down payment the more you put down the better.