[image3]

just wondering if anyone here bought there bikes with a yamaha card, i went to a local dealer and they have an 05 r1 there selling for a great price and im wondering what would be the best way to pay for it. Seems like the yamaha card is cheaper but are there any hidden costs? Who has used it and if so do u prefer that or just going through the bank?

 

[racerboy88]

I went with a line of credit

 

[Viper333]

It would depend on what percentage rate that you have with them.

 

[roller]

I purchased mine with tha card. typically, you get a great intro rate, but if you don't pay it off within the time, it skyrockets. No hidden fees, no need for insurance llike you must have if borrowing from the bank.

 

[Pepple4]

I put mine on the Yamaha credit card. I'll just refinance it thru a bank or credit union when the 1.9% is up.

 

[Eyespy]

Best way to pay for it is cash.

 

[02R1guy]

Don't buy with the Yamaha card if your not going to pay more than the min and get insurance.

 

[sawdustking]

I put $7500 on the Yamaha card and took 6.9% for two years. I have some other credit cards to pay off so I'm making smaller payments on the bike for the time being. After 2 years it the rate skyrockets, but I'll either refinance it or just transfer the balance to another card.

 

[wolfpack13]

I put 6,000 on the yamaha card with two years @ 2.9%. I plan on having it paid off in those two years and if not then I will refinance through the bank or probably credit union.

no hidden cost, just remember it is a regular credit card and I think the intrest rate jumps to like 20.99% once the intro rate is up.

 

[image3]

cash is best idea but i dont have 10k laying around... unless i win a poker tournament

So you would all recommend not using the card?
I would go through the bank but then i need full coverage on insurance and thats just way to much money and isnt neccesary.

what to do?

 

[Rxflyer]

The card is OK - IF - you know you can pay more than the minimums each month - AND - you know you'll be able to either pay it off or refinance at the end of the intro finance rate period. Note that you WILL have to carry insurance on the bike either way; that is one of the things you agree to do during all that paper-signing. Remember, the company financing you is also placing a lein against the bike, and if you fail to show proof of insurance, they can consider it a default against the contract, and demand the payoff amount. The only way you can get by with minimal insurance is to buy the bike outright.

 

[04-R1-04-SRT-4]

Actually if you use the yamaha card and finance 10,000 or more than they require insurance. But if you put 9999 on it and pay the rest another way than you are good.

 

[1longR1]

if u late with 1 payment the interest also goes to the default rate of like 20-24%. if good deal in time period with low interest, but dont go with the gimmick of 39-49 bucks amonth it will take you 10 years to pay it off.

 

[image3]

thanks for all the input guys, helped alot

 

[GaryW]

Best way to pay for it is cash.

:iamwithst

That's how I bought mine

 

[Linh]

:iamwithst

That's how I bought mine

ditto for me. all toys are paid for with cash. But I think the next best thing is credit union, their rates are much better.

 

[Rxflyer]

Good point about the 10 grand rule on the YamaCard. Trying to get away without adequate insurance is still false economy, though ! (for the working un-wealthy, anyway...)

 

[KneeDragger77]

bought with Yammie card. Once the promotion ran out, had to pay off to avoid super uber high interest rates. Now I have 12k avail. credit but wont touch it.

Revolving credit can be a touchy issue, and especially with HHR services. Its a good thing I paid online, because there was some months I never got a bill, and their cust. service absolutley SUCKS>

 

[Rxflyer]

Kneedragger - you should cancel that card if you don't use it. It still shows on your credit report as an available line of credit. If there's a few like that, it affects your credit rating - even if you never use 'em.

 

[KneeDragger77]

Kneedragger - you should cancel that card if you don't use it. It still shows on your credit report as an available line of credit. If there's a few like that, it affects your credit rating - even if you never use 'em.

Good point.. Thanks!:iamwithst