donkickit
Pro
- Joined
- Sep 23, 2007
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- 152
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- Upstate New York near Albany
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- Snowmobile
- 2014 viper ltx se
I picked up my yamaha rtx in September 5, 2007. The deal when I purchased it was 0% down 0% financing till 2010. Well I looked at my yammi card and it's showing 8.9%? Called the dealer and Yamaha and they say prove us wrong? I can't find anything on the internet that shows that promotion. Anyone else? Yeah my paperwork does show 8.9 , I should have looked at it closer. Thanks for any help.
Swiss Sledder
TY 4 Stroke God
For some strange reason, I just happen to have a copy of SnowGoer from 2007. The advertisement says $0 down with 8.9% APR for 24 months.
Shivesy
Expert
A very similar thing happened to me when I purchased my 06 Apex from K&W that was located north of Detroit MI. At the time I didn't notice that the salesman left the the interest free box unchecked on the financing sales slip. After the deal was over and I left the dealership the saleman checked the box on the paperwork that included interest. I should have been more carefull but I had drove all night from Ga. I was at thier front door when they opened, loaded up the sled and headed into Canada for a week of riding.
When the bill arrived here at home later on I noticed the interest on the bill. I placed a call to the dealer and they denied any wrong doing.
I chalked it up as a learning experience then swiftly transferred the balance over to a credit card that was 0% interest for a year.
Who was your dealer?
When the bill arrived here at home later on I noticed the interest on the bill. I placed a call to the dealer and they denied any wrong doing.
I chalked it up as a learning experience then swiftly transferred the balance over to a credit card that was 0% interest for a year.
Who was your dealer?
Blue Dave
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One more thing to look closely at might be the consequence for a late payment. Sometimes these promotional interest rates will double or more if you are late or miss a payment.
Just something else to pay attention to in the "fine print".
Just something else to pay attention to in the "fine print".
it's called acrued interest....and basically the lender...I think it's household finance....the interest will continue to acrue (build) and only be due if you do not pay fully during the promotional period...so pay it off before the deadline in full and there is no interest...go past the deadline and the total amount of interest is due!
NY_Nytro
TY 4 Stroke Master
I don't recall any 0% offers for two years. For terms that long Yamaha usually offers stuff like 0 down, 0 payments or some very low payment for 2 years like $69 but then it jumps up.
This past December Yamaha gave me Zero payments & 0% for 6 months with no accrued finance charge. Next month it starts to accrue finance charge on the remaining balance, but no back finance charges.
This past December Yamaha gave me Zero payments & 0% for 6 months with no accrued finance charge. Next month it starts to accrue finance charge on the remaining balance, but no back finance charges.
well the deals change...so you need to read the details...but it's never really 0% interest unless paid during the promotional period..
either way...the hook is to get you to go past the promo period...and they are showing you the interest that will be due when you go past d day
either way...the hook is to get you to go past the promo period...and they are showing you the interest that will be due when you go past d day
Shivesy
Expert
sj said:
Yea that's true but the more important point needs to be to check all your paperwork before you sign the paperwork or leave the dealership. Don't make the mistake that donkickit and I made. It seems that Yamaha offers these special 0% interest programs to their customers but some of the dealers try to secretly (sneaky-sneaky) slide the customer into the regular financing programs. I'm pretty sure that the dealer gains something finacially by doing this type of dishonest practice.
Polar_Bus
Newbie
Just a tip with Yammi financing, be VERY carefull and completely read the tiny fine print at the bottom of the Retail Services (Yammi credit) contract.
I purchased my '07 YZ450F using the 6.99% financing promo for the life of the loan. All the yammi "no, no, no"( interest/payments/down payment) are very scammish if you don't read the fine print. If at any time you default on a monthly payment, or are simply late, your original terms are discontinued, and your interest rate jumps up to a WHOPPING 23% APR !! Also the "no,no,no" plans are generally only good for 24 months, then again your APR jumps up to around 16% APR for the remainder of the balance. As always, pay attention to the monthly breakdown of how much of your "minimum" payment goes towards principal. For example within your $69 min. monthly payment you're paying $60 just towards interest...... Hope this helps
I purchased my '07 YZ450F using the 6.99% financing promo for the life of the loan. All the yammi "no, no, no"( interest/payments/down payment) are very scammish if you don't read the fine print. If at any time you default on a monthly payment, or are simply late, your original terms are discontinued, and your interest rate jumps up to a WHOPPING 23% APR !! Also the "no,no,no" plans are generally only good for 24 months, then again your APR jumps up to around 16% APR for the remainder of the balance. As always, pay attention to the monthly breakdown of how much of your "minimum" payment goes towards principal. For example within your $69 min. monthly payment you're paying $60 just towards interest...... Hope this helps
this is because it's through household finance....they take on these programs hoping you wont have it paid off during the promotional period or will default and they will earn their big bucks...not the chump change they earn up front from yammie to start the deal
