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Kingers

Kingers

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ok guys i've founf myself a bike i wanna buy but i need to get some financing to be able to buy it. I've got two options but dont know which way to go. Theres the option of borrowing the money off of a nank or theres the option of getting financed by Yamaha. Im kinda leaning towards getting the money from a bank mostly because i cant find any intrest rates or terms and conditions from the internet on the yamaha finance.

So does anyone have any experiance with the Yamaha finance or any advice on which one would be the cheaper option to go with?

Cheers
 
id probably go with the bank myself, i think theyd be more reasonable.

seems a bit steep though to get a loan out just to buy a bike.

cant your parents lend you money or something?
 
i've got 4000 and just need another 4000. Not really a person that likes to borrow money off of someone, I dont really like to owe someone something, so its just easier for me to borrow the money off of a bank
 
if you borrow from a bank your obviously gonna have to pay interest on whatever you borrow, and your going to make weekly/fortnightly repayments on the loan.

if you borrow from someone you know you can still make weekly repayments but you wont have to pay interest.

it just seems like a better idea to save yourself the money
 
Find out the interest rate from each company and also what the repayments will be. A cheaper interest rate does not necessarily mean cheaper repayments as some companies will have fees and charges which add to the overall price. Another thing to look at is whether or not you can pay it off sooner without any penalties because some companies charge you extra for early payment.
 
yamaha (ymf) is not to bad just go into the shop and ask about it
we do it at work but dont have any of the info on me to tell you about it

but if you have the option to go with a bank your better off going that way
you will more than likly get a better intrest rate than with yamaha
but they do have good fincance deals from time to time with lower intrest rates than
the banks


Kingers said:
ok guys i've founf myself a bike i wanna buy but i need to get some financing to be able to buy it. I've got two options but dont know which way to go. Theres the option of borrowing the money off of a nank or theres the option of getting financed by Yamaha. Im kinda leaning towards getting the money from a bank mostly because i cant find any intrest rates or terms and conditions from the internet on the yamaha finance.

So does anyone have any experiance with the Yamaha finance or any advice on which one would be the cheaper option to go with?

Cheers
Click to expand...
 
pretty sure when i was instore i read about that 4.9% loan and the loan amount has to be over $30 000 to get that intrest rate.

The bike im looking at is a 2007 yz 250f and the cost is going to be $7500 Ride away

I've been into the dealer to ask for some intrest rates and what not about the loan and they seem very vague about it and dont have any information to give me on the loan or any terms and conditions.
 
well most banks will give you a minimum of $5k loan that would mean you have $9k to play with so you can do some upgrades, rego or whatever with the extra $$
 
Dont forget though that personal loans do have a high interest rate. IMO borrow off your parents or someone close.
 
I_THUMP said:
The 4.9% is for new bikes only as far as I know.
Click to expand...

Read the fine print on the contract. I bet you that will only be for a year or 2 if that and then it will skyrocket to around 20%. There is always a catch.

Banks do not do loans for dirtbikes unless you can get Full Comprehensive insurance on them which is very hard to do.

I would just save the money mate IMO. I went down this track and a 10 grand bike ended up being closer to 15 and that was with a 3 grand deposit. Finance sucks.
 
i dont think the intrest jumps right up on them ill ask the bloke at work about it he does all the quotes
ill know on wednessday myself as im doing a yamaha ymf coarse so ill let you know if its any good and what the fine print is as im curious meself
 
ok thanks for all the info guys but just been lookin on the net and found an 05 bike that is for sale that im gonna go look at on sat so if it turns out to be any good then i'll be getting that one instead of the 07 and if i do i wont have to take out a loan to get it, so hopefully this bike turns out to be good.
 
I'm intrested to know to mate. It may be 5% for the term of the loan because of the current financial situation which is quite reasonable.

Just make sure that there are no fee's for paying off early as well. I got charged another grand if I wanted to pay it of quicker.

Kingers, that's a good idea if you can mate. What bike are you looking at getting mate?
 
the bike is an 05 Yz 250f going to check it out 2moro morning, will post up some pics of the bike if i buy it and let ya know how i go
 
Hey guys thought i'd let you know how i went today, went out to the yamaha dealer in the morning to test ride the o7 yzf but ended up walking outa there because the guy told me to wait 5 min and 40 min later he still wasnt there so i just left then i went over to eltham and looked at an 05 yzf and ended up gettin that, lol. It rode awesom no flat spots or anything everything looks good on the bike looked like it had been taken care of.

so yeah im pretty happy


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Should be going to pick it up on about wednesday i think
 
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