Financing Question

ProMorpher

Registered
So I put a deposit on a red Busa at Honda East Toledo. I told the salesman I was dealing with that I wanted to finance through Suzuki and he said it would be easier to go to a local dealer and have them fill out the credit application being I live in Chicago. Have any of you ever heard of this?
 
Bullsh#t, he's prolly getting a better cut from the guy he always uses. If you have good to decent credit refuse any third rate bank that'll end up hittin' you with 25%+ rates. Do your research before going further.
 
Never finance at the dealership.....NEVER!

Personal bank or credit union are your best bets! If you have good credit, you should be able to get under 10% rather easy. I got mine financed at 5.25%!
 
We used a local bank, with a personal loan. Street bike interest rates started at 12.5, (unless it was a HD) and we went with a personal loan, at 6.5%...

Payments were a lot less than anything the dealer could have thought about doing..

But what it sounds like your question is...correct me if I'm wrong.

Your buying a bike from Dealer A...........Dealer A wants you to do the financing at Dealer B.......?
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Dealer B has nothing to do with you or the bike???....thats confusing even if I am right.

Brandy
 
A low interest credit card is a possibility if you're responsible. My partner got his bike on a 0% card for 1 year. When the year was up, he transfered the remaining balance to a new card at 0%. He never even had any transaction fees. You have to be responsible because you can get into trouble in a hurry charging up other stuff etc.
 
BTW, there are a few dealers in the Chicago area that have the same price on the '04 SE as Honda East. Just wondering why you're going so far away.
 
What price were you quoted at Honda East Toledo? I bought my new Black/Purple 04 for $9265 OTD + Taxes in VA about 5 weeks ago.
 
I forgot to add I bought it from Honda East Toledo as well and brought it back on a trailer. My friend just bought an 04 Yamaha R6 and got it shipped for about $300 if you don't want to drive there to pick it up.
 
I have financed through both a dealer and credit union. The 'Busa was financed through the credit union at some ridiculously low rate (5.3%, I think) and my Volusia was just financed through Suzuki at 5.9%. Like everyone has said do your homework and find the best rate!
 
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