Baddie wrote:I good friend just got loan from Yamaha Aust which let him buy a new zx10r....as long as the dealer sold both kawa's and yam's all was good.
The best part is only paying 5% interest and you can apply online Ive been told.
Did he read all the fine print? Pretty sure with yamaha finance that its a very low interest rate for the first 12 months to suck you in, then they put it to something rediculous like 16+ %..(correct me if im wrong) I avoid bike/car finance finance, would prefer a bank loan any day of the week over vehicle finance Once you've locked in your repayments with finance companies im pretty sure you cant change it to pay more and have to sit out the original term it was taken over, or pay a hefty early termination fee to get out of it all together.. By the time my mate pays his R6 out with yamaha finance the bike will of cost him close to $27k when he bought it for $17k
In my case I saved up the $11k and took out a personal loan for $6k(with loan insurance etc) over a 3 year term.. I did my research to make sure I wouldnt be penalised for paying it out early, and smashed it over in 11months by putting extra repayments on it.. Payed out a total of about $600 in interest i think