[liquid R1]

this has been asked already about financing. the yamaha account is a credit card which means you will be paying on it a lot longer than 5 years or what have you. Peoplefirst.com gives almost the lowest interest rate you can find at 7.49% if you let them take the money right out of your checking account. they also do 5.?% on cars you just fill the info out on the net they are in San Diego pacific time. they will call you in a couple of hours to verify everything and with in 5 days they send you a blank check and when you buy your bike you just fill it out like it was your own check and walla they even have a payment calculator on there sightso you know exactly what you are paying but you have to spend no less than $7500 but no more than $75,000. so it a decent deal. :thumbup

 

[Tim]

With the yamaha credit card you may be able to transfer that balance to a new credit card under a 0% balance transfer offer. While the offer is usually only valid for one year, you can always transfer to another card. That's my plan sans the yamaha account credit card.

BTW, I'm a new member, and I still don't have my $%%##@# 2002 R1.

 

[hypeR1]

Yamaha Financing

As a finance manager of and RV dealership I generally encounter several questions regarding the rate of interest, credit requirements and so on. My predecessor now manages the largest motorcycle dealership in the city. I am unsure as to how things work down in the USA but I dont believe that things are much different.

Anyways, generally, so long as you qualify, the interest may be much lower than 7.49 % if you check in to doing finance through your own bank. My new R1 will be going through at 6.9% or possibly lower. Since the prime rate of interest for us in Canada is only 3.75%
I believe it is only 3.25% for you guys.

I would caution you about financing through one of these internet lenders unless you can get concrete evidence that they are above board. More often than not, people do not read the entire disclosure on the loan and find out that there are stipulations about early payouts and penalties for making extra payments.

Use your discretion, and let me know if you have any further questions.

 

[scud]

Tim is exactly right...

100%, you can trasfer the balance right into a low APR situation, be it 0, 2.99 or whatever you want...but you didn't get the best part:

once the balance is transferred yamaha credit sends you the title right away! therefore there is NO MORE LEAN on the bike!

 

[Tim]

Good point! :bash

 

[mrweelr]

Peoplefirst kicks ass. I got my auto loan approved in less than 24 hours and was able to buy my low-mileage 91 GMC Syclone from a used car lot before someone else snatched it up. The loan amount was $13,500 for 36 months and I got something like 7% APR on a 10 year-old vehicle! I highly recommend that lender.

-Jeremy

 

[Brian0128]

Ok, let me get this right...I just financed 7000 through yamaha...or at least i think it's yamaha. The paperwork says household bank. Is that not yamaha? Is it possible to get a loan through peoplefirst to refinance it? Help me!!

 

[hypeR1]

FINANCE

Yes, you can indeed refinance.
Simply make an application, and Peoples bank will payout household finance or whoever that other lending company is.

 

[Brian0128]

I think I'm going to refinance this week....thanks for the advice.