0% financing question???

[Apex18]

Hi, im 18 and i'm planning on buying my first sled. I reallly want to get the RTX. So i just have a question with the 0% financing. I might snowcheck it and take the 0% financing offer which goes until march of 2007, then it goes up to 13% after that. So, If a person decides to do it that way, is a person able to pay off the entire sled right before it goes up to like 13% in march of 2007? this is a lot of help...thanks

 

[impalapower]

No payments or interest is due til March. Then if you have any balance the interest is back charged to you from the date you picked up the sled. Pay it off before the promotion expires.

 

[Coondog2707]

I shouldn't, but I cant resist....

Please be careful. I have ridden the Apex. Thats a LOT of sled for a young first timer!

 

[BLUEDOG]

Hi

Impala's correct about the financing, just pay off right before the rate change and or refinance with a local lender to a more reasonable rate if your credit/income are sufficient, this is what I do for a living, pm me if you want further financial advice.

And I also believe that's a lot of HP unless you've been riding since childhood, I assume you have, if not the Vector/Rage or nice choices or as of today I'm putting my 14 year old son on the new Phazer and getting him away from my 02 SRX, he's not happy but I know it's safer and he'll have even more fun on the Phazer.

Good luck,

Ron M

 

[WarriorBeads]

On one hand I say 'good for you' that you can afford that sled at 18. A lot of people that age can't rub 2 cents together, let alone get the credit, so you must be doing something right (it wasn't that long ago I was your age and I know from experience)....On the other hand, these guys are right. That's a LOT of sled if you really are a first time rider.... My brother and I have been riding since we were 13 or 14 (we're now in our mid to late 20's).... I'm on a Warrior and my brother just upgraded to an RTX.... That's a SCARY fast sled and believe me you can get in a mess of trouble if you mishandle it.... Enough preaching! Get the sled....Just don't kill yourself! Good Luck.

 

[LT1MCSS]

I am doing the same thing but i did it with the 06 so my promo ends Jan 1, 2007. I'm going to pay as much as I can on the sled and if i pay everything off great. If not i'm going to put the remaineder on a 0% credit card and roll it over. Figures I just got card with a 15 month 0% promo offer too.

Also being 18 unless some one is cosigning for you, you wont get the 13% after the promo. You will probably get something like 16-18 because I can't see someone at 18 having enough good credit to get it.

 

[NY_Nytro]

On the 0/0/0 until Jan 2007 plan that Yamaha is currently offering on the 2006 (or older) models there is NO back interest that gets tacked on if you don't pay in full by 12/31/06.

The 13% (13.something) interest wil start to accrue on any remaining balance starting 1/07 from that point foward, no back interest.

I just called Yamaha credit (HSBC bank) to verify.

 

[LT1MCSS]

yeah thats my promo, but the promo for the 07 sleds goes till march. I think thats the one he will end up with unless he gets an 06 sled. As far as the back interest goes, thats good to know. I'm still going to pay it off before my promo end date. It didnt make sense to me that you had to pay Back interest, you only pay interest on what you owe.

 

[byoffcr]

Get the sled and drive with your head. put my grandkids on the attaks at 16. 440s will hurt just as easy if you drive stupid. Have fun.

 

[Apex18]

Hey thanks everyone for your info, and just to let you know, ya im 18 and this is MY first sled officially, but i have a 2005 MXZ REV 550 right now with 6 thousand kilo's on it, and i had a phazer and enticer before it. I've been riding since i could walk, got lots of experience, i decided on the new yamaha cuz my dad has a Rage and i love it, i drive it often, i just want more power for the lake running at high speeds, so im going for the 150. thanks everyone