GG54172 Posted February 10, 2009 Share #1 Posted February 10, 2009 So I like to price shop. (yeah I am part dutch) I called credit union "A" for a loan for the Venture I want to pick up this weekend. they gave me a quote of 8.5% and a 36 month term. Called credit union "B" and the loan officer said off the cuff, without looking at my credit history, 7% and 48 month term. Called credit union "A" and asked them to match credit union "B" for terms (7% and 48 months). They said they would get back to me. Credit union "B" calls back and says I am approved for 8% at 60 months. I tell them I don't want a 60 month, but a 48 month, they tell me it's the same interest rate regardless of the loan. I tell them I will get back to them after "A" calls back. Credit union "A" calls back and says I am approved at 7% for 48 months. I accept the offer. Looks like I am going to pick up a second Gen for Valentine's day! Link to comment Share on other sites More sharing options...
BoomerCPO Posted February 10, 2009 Share #2 Posted February 10, 2009 It has to be a 2nd Gen yer buying. I'm pretty sure that Credit Unions won't finance a purchase for an antique motorcycle........... Boomer......who has the popcorn ready now. Link to comment Share on other sites More sharing options...
GeorgeS Posted February 10, 2009 Share #3 Posted February 10, 2009 On their web site, is says 4.75 percent. For Vehicals. Link to comment Share on other sites More sharing options...
SteveP Posted February 10, 2009 Share #4 Posted February 10, 2009 On their web site, is says 4.75 percent. For Vehicals. But some banks/financial institutions count motorcycles as "recreational equipment" or other "non-vehicle." I know that the law in PA allows for anything with fewer than 4 wheels to be classified as a "non-vehicle" thus advertised rates for vehicles (everything from loans to insurance) do not necessarily apply to our two-wheeled "non-vehicles." And Gregroy: Best of Luck with the new RSV! Link to comment Share on other sites More sharing options...
SilvrT Posted February 11, 2009 Share #5 Posted February 11, 2009 On their web site, is says 4.75 percent. For Vehicals. maybe that's APR (Above Prime Rate) ?? Link to comment Share on other sites More sharing options...
YamaDuck Posted February 11, 2009 Share #6 Posted February 11, 2009 My C.U.'s rate was 4.5% on new for 48 months and 5.5% on used up to 36 months. It sounds like you may need a new C.U. Link to comment Share on other sites More sharing options...
Yammer Dan Posted February 11, 2009 Share #7 Posted February 11, 2009 My bank looked at my 1st Gen and said buy any you want. Link to comment Share on other sites More sharing options...
GG54172 Posted February 11, 2009 Author Share #8 Posted February 11, 2009 My C.U.'s rate was 4.5% on new for 48 months and 5.5% on used up to 36 months. It sounds like you may need a new C.U. I don't know, I looked at the websites of six different credit unions. Most had 5.2% for new, 6% for up to three years old. I am looking at a 2001. Could be location, my credit score, or the age of the bike. Lose a little money on interest, save a lot therapy bills. Can I claim this as a medical benefit? Link to comment Share on other sites More sharing options...
YamaDuck Posted February 11, 2009 Share #9 Posted February 11, 2009 Probably a combination of all three. The important thing is you'll end up with a 2001 RSV. Link to comment Share on other sites More sharing options...
Chinto Posted February 11, 2009 Share #10 Posted February 11, 2009 Have you checked the Yamaha financing promotions? Maybe you can get them to match the terms if they want to do business with you. http://www.starmotorcycles.com/star/webpromo/currentpromos_599_72mo_details.aspx Link to comment Share on other sites More sharing options...
GG54172 Posted February 11, 2009 Author Share #11 Posted February 11, 2009 Have you checked the Yamaha financing promotions? Maybe you can get them to match the terms if they want to do business with you. http://www.starmotorcycles.com/star/webpromo/currentpromos_599_72mo_details.aspx Doubtful, I am buying the bika private seller. Link to comment Share on other sites More sharing options...
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