GG54172 Posted February 10, 2009 #1 Posted February 10, 2009 So I like to price shop. (yeah I am part dutch) I called credit union "A" for a loan for the Venture I want to pick up this weekend. they gave me a quote of 8.5% and a 36 month term. Called credit union "B" and the loan officer said off the cuff, without looking at my credit history, 7% and 48 month term. Called credit union "A" and asked them to match credit union "B" for terms (7% and 48 months). They said they would get back to me. Credit union "B" calls back and says I am approved for 8% at 60 months. I tell them I don't want a 60 month, but a 48 month, they tell me it's the same interest rate regardless of the loan. I tell them I will get back to them after "A" calls back. Credit union "A" calls back and says I am approved at 7% for 48 months. I accept the offer. Looks like I am going to pick up a second Gen for Valentine's day!
BoomerCPO Posted February 10, 2009 #2 Posted February 10, 2009 It has to be a 2nd Gen yer buying. I'm pretty sure that Credit Unions won't finance a purchase for an antique motorcycle........... Boomer......who has the popcorn ready now.
GeorgeS Posted February 10, 2009 #3 Posted February 10, 2009 On their web site, is says 4.75 percent. For Vehicals.
SteveP Posted February 10, 2009 #4 Posted February 10, 2009 On their web site, is says 4.75 percent. For Vehicals. But some banks/financial institutions count motorcycles as "recreational equipment" or other "non-vehicle." I know that the law in PA allows for anything with fewer than 4 wheels to be classified as a "non-vehicle" thus advertised rates for vehicles (everything from loans to insurance) do not necessarily apply to our two-wheeled "non-vehicles." And Gregroy: Best of Luck with the new RSV!
SilvrT Posted February 11, 2009 #5 Posted February 11, 2009 On their web site, is says 4.75 percent. For Vehicals. maybe that's APR (Above Prime Rate) ??
YamaDuck Posted February 11, 2009 #6 Posted February 11, 2009 My C.U.'s rate was 4.5% on new for 48 months and 5.5% on used up to 36 months. It sounds like you may need a new C.U.
Yammer Dan Posted February 11, 2009 #7 Posted February 11, 2009 My bank looked at my 1st Gen and said buy any you want.
GG54172 Posted February 11, 2009 Author #8 Posted February 11, 2009 My C.U.'s rate was 4.5% on new for 48 months and 5.5% on used up to 36 months. It sounds like you may need a new C.U. I don't know, I looked at the websites of six different credit unions. Most had 5.2% for new, 6% for up to three years old. I am looking at a 2001. Could be location, my credit score, or the age of the bike. Lose a little money on interest, save a lot therapy bills. Can I claim this as a medical benefit?
YamaDuck Posted February 11, 2009 #9 Posted February 11, 2009 Probably a combination of all three. The important thing is you'll end up with a 2001 RSV.
Chinto Posted February 11, 2009 #10 Posted February 11, 2009 Have you checked the Yamaha financing promotions? Maybe you can get them to match the terms if they want to do business with you. http://www.starmotorcycles.com/star/webpromo/currentpromos_599_72mo_details.aspx
GG54172 Posted February 11, 2009 Author #11 Posted February 11, 2009 Have you checked the Yamaha financing promotions? Maybe you can get them to match the terms if they want to do business with you. http://www.starmotorcycles.com/star/webpromo/currentpromos_599_72mo_details.aspx Doubtful, I am buying the bika private seller.
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