Financing Question

[ProMorpher]

So I put a deposit on a red Busa at Honda East Toledo. I told the salesman I was dealing with that I wanted to finance through Suzuki and he said it would be easier to go to a local dealer and have them fill out the credit application being I live in Chicago. Have any of you ever heard of this?

 

[grabntwist]

Bullsh#t, he's prolly getting a better cut from the guy he always uses. If you have good to decent credit refuse any third rate bank that'll end up hittin' you with 25%+ rates. Do your research before going further.

 

[Got-Busa?]

Never finance at the dealership.....NEVER!

Personal bank or credit union are your best bets! If you have good credit, you should be able to get under 10% rather easy. I got mine financed at 5.25%!

 

[billbell]

Definitely look around!

 

[mudnuri]

We used a local bank, with a personal loan. Street bike interest rates started at 12.5, (unless it was a HD) and we went with a personal loan, at 6.5%...

Payments were a lot less than anything the dealer could have thought about doing..

But what it sounds like your question is...correct me if I'm wrong.

Your buying a bike from Dealer A...........Dealer A wants you to do the financing at Dealer B.......?

Dealer B has nothing to do with you or the bike???....thats confusing even if I am right.

Brandy

 

[1meanZ]

A low interest credit card is a possibility if you're responsible. My partner got his bike on a 0% card for 1 year. When the year was up, he transfered the remaining balance to a new card at 0%. He never even had any transaction fees. You have to be responsible because you can get into trouble in a hurry charging up other stuff etc.

 

[1meanZ]

BTW, there are a few dealers in the Chicago area that have the same price on the '04 SE as Honda East. Just wondering why you're going so far away.

 

[Grim]

What price were you quoted at Honda East Toledo? I bought my new Black/Purple 04 for $9265 OTD + Taxes in VA about 5 weeks ago.

 

[Grim]

I forgot to add I bought it from Honda East Toledo as well and brought it back on a trailer. My friend just bought an 04 Yamaha R6 and got it shipped for about $300 if you don't want to drive there to pick it up.

 

[BigBSBusa]

I have financed through both a dealer and credit union. The 'Busa was financed through the credit union at some ridiculously low rate (5.3%, I think) and my Volusia was just financed through Suzuki at 5.9%. Like everyone has said do your homework and find the best rate!

 

[jbusa]

My wife paid cash for mine, but I would shop around.