Anyone bought a quad/banshee on finance?

[Fordy]

Hey guys i've always wanted a banshee but have never been able to afford one, well i have but you'd have to pay around 5 grand for a decent snd hand one and i always thought that money would be better spent on the XW. So i was wondering if anyone has ever financed there motorbike from any of the retail shops and is there anything to watch out for???

[Blue Oval Mopar Man]

Hi Fordy, I bought my Banshee thru thru the local Yamaha dealer (Pittmans back then ) on YMAF finance and it was Great! I saved money from the start buy shopping around and told them the best deal I could find and ended getting it cheaper thru pittmans . I liked the deal so much I ended up working for them ! I even bought all my Fox/O'Neal/Alpinestars riding gear and Quad accesories on finance. Good finance company to deal with also !

[Fordy]

I wouldnt normally ask but, could you tell me what the payments were per month, pm if you like....

[schmidty]

Read the fine print. Got a mate who bought an Aprillia on finance becuase he wanted it there and then and couldnt wait to get to the bank to do it. As a result he had to have agreed value full comp insurance on it, which was about $800 per year more than ours, higher interest rate than he could have got through the bank, and when he tried to pay it out early he was only allowed to pay out the balance, minus $1000 which couldnt be paid out til the end. Also there are no rewards for paying it out early, still pay the same interest as if it takes you the full term. Not saying all finance is like this, but he wishes he had have waited the extra day or 2 and gone to the bank.

[Blue Oval Mopar Man]

Payments were only around $50 a week (paid monthly )and because these are not a registerable motor vehicle you cant get comprehensive insurance. But you do have to insure for theft. The banshee may be showing its age for the last 3 or 4 years , but they are the king or the quads and are still the best bang for your buck around !

[JHNOO]

I bought a 2nd hand yamaha R6 on finance for $9500 time i finshed the paper work and all signed for i found that i really payed $13000 [ wtf ] On finance you HAVE to have full comp insurance, OK I thought so i went and got the best price i could which was through SWANN insurance $1100 year , i put that on the loan as well, to my knowledge that was it a final cost of $10600..... later on at home reading the paper work I found that the finance company also bought me full comp insur @ $1400 and better again bought me life insur @$1000 for the life of the loan so if i killed myself on the bike they would get there money.... all this without my knowledge.. since then i have received back 3/4 of the money that was never meant to be spent... bottom line is READ the contract carefully and get everything in writing and have good communication with the company.........

P.S The fellow responsible for my loan at the time no longer works for that company
i was not the first one he has done it to

[Fordy]

Thanks guys....is there any additional costs when buying new???