Yamaha motors financing?

mattyhamz2 1/28/2020 10:44am
1/28/2020 10:44am
newmason wrote:
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer...
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer and yes totally a boomer comment, but don't buy a new bike... If it's 0% interest then finance away...
I'm not arguing that fact, but $11k up front(if you pay full retail) is a lot, especially for a the 21-35 year old crowd. Most people I know in that age group, including myself, have nowhere near that amount laying around. So for most of us, paying cash is almost impossible.
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fourfourone
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fourfourone 1/28/2020 10:49am
1/28/2020 10:49am
newmason wrote:
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer...
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer and yes totally a boomer comment, but don't buy a new bike... If it's 0% interest then finance away...
Hudd_421 wrote:
There's always some asshole here that tried to talk down to others for making the decision to finance a bike...Your comment about depreciation makes no sense...cash...
There's always some asshole here that tried to talk down to others for making the decision to finance a bike...Your comment about depreciation makes no sense...cash or finance, dirt bikes are still a terrible investment regardless of funding type...

There's also the choice of where your cash should go to. I financed a bike, so I could take my cash and put down on a house. My house has appreciated nearly 70k in 4 years, please tell me my cash on cash investment wasn't worth financing a bike...

This forum is full over 50+ year old established men who love to chime in and tell all of us to pay cash for everything. I could care less if I pay a few hundred dollars of interest on my bike. I always have a fresh ride and ill keep my money in the bank. Peoples cell phone bills cost more then the monthly payment on my YZ....
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Motodave15
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Motodave15 1/28/2020 10:50am
1/28/2020 10:50am
mattyhamz2 wrote:
I'm not arguing that fact, but $11k up front(if you pay full retail) is a lot, especially for a the 21-35 year old crowd. Most people...
I'm not arguing that fact, but $11k up front(if you pay full retail) is a lot, especially for a the 21-35 year old crowd. Most people I know in that age group, including myself, have nowhere near that amount laying around. So for most of us, paying cash is almost impossible.
Exactly, i dont know anybody in my age group 25-35... Who has 11k laying around to spend on a dirtbike.. if they do, i want in on what there doing and hoping its legal lol.
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fourfourone
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fourfourone 1/28/2020 10:51am
1/28/2020 10:51am
newmason wrote:
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer...
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer and yes totally a boomer comment, but don't buy a new bike... If it's 0% interest then finance away...
Hudd_421 wrote:
There's always some asshole here that tried to talk down to others for making the decision to finance a bike...Your comment about depreciation makes no sense...cash...
There's always some asshole here that tried to talk down to others for making the decision to finance a bike...Your comment about depreciation makes no sense...cash or finance, dirt bikes are still a terrible investment regardless of funding type...

There's also the choice of where your cash should go to. I financed a bike, so I could take my cash and put down on a house. My house has appreciated nearly 70k in 4 years, please tell me my cash on cash investment wasn't worth financing a bike...

100% right here.

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yz133rider
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yz133rider 1/28/2020 10:53am
1/28/2020 10:53am
newmason wrote:
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer...
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer and yes totally a boomer comment, but don't buy a new bike... If it's 0% interest then finance away...
Hudd_421 wrote:
There's always some asshole here that tried to talk down to others for making the decision to finance a bike...Your comment about depreciation makes no sense...cash...
There's always some asshole here that tried to talk down to others for making the decision to finance a bike...Your comment about depreciation makes no sense...cash or finance, dirt bikes are still a terrible investment regardless of funding type...

There's also the choice of where your cash should go to. I financed a bike, so I could take my cash and put down on a house. My house has appreciated nearly 70k in 4 years, please tell me my cash on cash investment wasn't worth financing a bike...

fourfourone wrote:
100% right here.
He gambled not once, but twice, it worked and is bragging about it.

When the tide goes out you find out who's been skinny dipping.
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fourfourone
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fourfourone 1/28/2020 10:54am
1/28/2020 10:54am
Hudd_421 wrote:
There's always some asshole here that tried to talk down to others for making the decision to finance a bike...Your comment about depreciation makes no sense...cash...
There's always some asshole here that tried to talk down to others for making the decision to finance a bike...Your comment about depreciation makes no sense...cash or finance, dirt bikes are still a terrible investment regardless of funding type...

There's also the choice of where your cash should go to. I financed a bike, so I could take my cash and put down on a house. My house has appreciated nearly 70k in 4 years, please tell me my cash on cash investment wasn't worth financing a bike...

fourfourone wrote:
100% right here.
yz133rider wrote:
He gambled not once, but twice, it worked and is bragging about it.

When the tide goes out you find out who's been skinny dipping.
what?
yz133rider
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yz133rider 1/28/2020 11:15am
1/28/2020 11:15am Edited Date/Time 1/28/2020 11:17am
fourfourone wrote:
100% right here.
yz133rider wrote:
He gambled not once, but twice, it worked and is bragging about it.

When the tide goes out you find out who's been skinny dipping.
fourfourone wrote:
what?
He financed his bike, financed his house, it "worked out" in his favor currently. But say something happened, the market turned and house values crashed, lost his job, got sick, etc. It wouldnt have worked clearly.

Taking on debt is a risk. Taking on debt to "leverage" it is insanity.

Wealthy people do not get wealthy by leveraging debt. They avoid debt. Keep thinking and acting like middle class and lower class and thats what youll get.

Financing a house is nearly unavoidable but if that was your only debt and you attacked it and paid it off asap youd be so far ahead of the game. But instead in our culture debt is a way of life and taken it so far as to using debt on purpose and then bragging about it. Insanity.
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Markopolo400
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Markopolo400 1/28/2020 11:17am
1/28/2020 11:17am
yz133rider wrote:
He gambled not once, but twice, it worked and is bragging about it.

When the tide goes out you find out who's been skinny dipping.
You listen to Dave Ramsey don't you
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AH387
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AH387 1/28/2020 11:19am
1/28/2020 11:19am
The whether to finance or not argument is ridiculous. All the forum financial advisers can save it. No one needs your advice on how to use their money. Everyone's situation is different.

The OP is talking about Yamaha moving all of the financing records from Synchrony to in-house and it has been a total shit show, as they transfer it all over. My previous post explained my situation. That may help you. If you have any other questions, just ask. I have been chasing them down on a few things to make sure my payments weren't late and getting into my account after they screwed up everyone's account numbers (during the switch.)
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peltier626 1/28/2020 11:31am
1/28/2020 11:31am Edited Date/Time 1/28/2020 12:43pm
AH387 wrote:
The whether to finance or not argument is ridiculous. All the forum financial advisers can save it. No one needs your advice on how to use...
The whether to finance or not argument is ridiculous. All the forum financial advisers can save it. No one needs your advice on how to use their money. Everyone's situation is different.

The OP is talking about Yamaha moving all of the financing records from Synchrony to in-house and it has been a total shit show, as they transfer it all over. My previous post explained my situation. That may help you. If you have any other questions, just ask. I have been chasing them down on a few things to make sure my payments weren't late and getting into my account after they screwed up everyone's account numbers (during the switch.)
Thanks a whole lot. This is exactly what I was referring to, the wrong account #'s, no specified payment date or clear explanation of what's going on. I waited for over an hour and gave up on the phone. Thanks AH387. I'm not asking for financial advise from vital's finest, I was interested to hear if other folks were having the same issues.
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Hudd_421
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Hudd_421 1/28/2020 12:29pm
1/28/2020 12:29pm
yz133rider wrote:
He gambled not once, but twice, it worked and is bragging about it.

When the tide goes out you find out who's been skinny dipping.
fourfourone wrote:
what?
yz133rider wrote:
He financed his bike, financed his house, it "worked out" in his favor currently. But say something happened, the market turned and house values crashed, lost...
He financed his bike, financed his house, it "worked out" in his favor currently. But say something happened, the market turned and house values crashed, lost his job, got sick, etc. It wouldnt have worked clearly.

Taking on debt is a risk. Taking on debt to "leverage" it is insanity.

Wealthy people do not get wealthy by leveraging debt. They avoid debt. Keep thinking and acting like middle class and lower class and thats what youll get.

Financing a house is nearly unavoidable but if that was your only debt and you attacked it and paid it off asap youd be so far ahead of the game. But instead in our culture debt is a way of life and taken it so far as to using debt on purpose and then bragging about it. Insanity.
I won't get into my own personal finances nor the economic climate my current residence is. But I will say I'm not dumb with my money and I'm not over extended on anything. I agree, the current culture of hood-rich (finance everything to death) and people out there who don't have a handle on their personal finances are making serious mistakes.

But this entire statement: "Wealthy people do not get wealthy by leveraging debt. They avoid debt. Keep thinking and acting like middle class and lower class and thats what youll get." is fundamental WRONG.

Look up a little know guy by the name of Warren Buffet. Look up any successful real estate investor. It's about leveraging debt. Dave Ramsey wants to keep you poor and middle class...

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yz133rider
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yz133rider 1/28/2020 1:19pm
1/28/2020 1:19pm
fourfourone wrote:
what?
yz133rider wrote:
He financed his bike, financed his house, it "worked out" in his favor currently. But say something happened, the market turned and house values crashed, lost...
He financed his bike, financed his house, it "worked out" in his favor currently. But say something happened, the market turned and house values crashed, lost his job, got sick, etc. It wouldnt have worked clearly.

Taking on debt is a risk. Taking on debt to "leverage" it is insanity.

Wealthy people do not get wealthy by leveraging debt. They avoid debt. Keep thinking and acting like middle class and lower class and thats what youll get.

Financing a house is nearly unavoidable but if that was your only debt and you attacked it and paid it off asap youd be so far ahead of the game. But instead in our culture debt is a way of life and taken it so far as to using debt on purpose and then bragging about it. Insanity.
Hudd_421 wrote:
I won't get into my own personal finances nor the economic climate my current residence is. But I will say I'm not dumb with my money...
I won't get into my own personal finances nor the economic climate my current residence is. But I will say I'm not dumb with my money and I'm not over extended on anything. I agree, the current culture of hood-rich (finance everything to death) and people out there who don't have a handle on their personal finances are making serious mistakes.

But this entire statement: "Wealthy people do not get wealthy by leveraging debt. They avoid debt. Keep thinking and acting like middle class and lower class and thats what youll get." is fundamental WRONG.

Look up a little know guy by the name of Warren Buffet. Look up any successful real estate investor. It's about leveraging debt. Dave Ramsey wants to keep you poor and middle class...

Thats really ironic because the quote i used earlier is from Warren Buffett. "When the tide goes out, you find out who's been skinny dipping."
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Timo_2824
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Timo_2824 1/28/2020 1:59pm
1/28/2020 1:59pm
yz133rider wrote:
He gambled not once, but twice, it worked and is bragging about it.

When the tide goes out you find out who's been skinny dipping.
fourfourone wrote:
what?
yz133rider wrote:
He financed his bike, financed his house, it "worked out" in his favor currently. But say something happened, the market turned and house values crashed, lost...
He financed his bike, financed his house, it "worked out" in his favor currently. But say something happened, the market turned and house values crashed, lost his job, got sick, etc. It wouldnt have worked clearly.

Taking on debt is a risk. Taking on debt to "leverage" it is insanity.

Wealthy people do not get wealthy by leveraging debt. They avoid debt. Keep thinking and acting like middle class and lower class and thats what youll get.

Financing a house is nearly unavoidable but if that was your only debt and you attacked it and paid it off asap youd be so far ahead of the game. But instead in our culture debt is a way of life and taken it so far as to using debt on purpose and then bragging about it. Insanity.
Rich people never spend their own money, they borrow money all the time. I know some guys who borrow money to pay taxes because of the possibility of making money on investing their cash vs the intrest on a loan...
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mxbigd17
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mxbigd17 1/28/2020 2:52pm
1/28/2020 2:52pm
Motodave15 wrote:
I financed through munn racing for 2018.5 husky fo fiddy... Freedom road financial, first payment was a success, a bit confusing to set up... But way...
I financed through munn racing for 2018.5 husky fo fiddy... Freedom road financial, first payment was a success, a bit confusing to set up... But way way better than dropping 7800$ cash, 150 a month. Playing to be paid off in about 10 months because im being cheap and want to build credit.

Im convinced if i had the cash in hand, i would not have bought the bike.
yz133rider wrote:
Thats exactly part of how using cash helps you to save. You tend to over spend when its someone elses money. If it was your own...
Thats exactly part of how using cash helps you to save. You tend to over spend when its someone elses money. If it was your own money you likely would have found a left over for 6k or a lightly used vet special for 2k less than brand new. Saving yourself 2k+ at the start and then another 1 or 2k in interest.

Studies show you spend 40%more when its on credit vs cash. Alot harder to come off your own cash.

Some people will never get “it”. The Moto tracks are full of broke people. Going on my 10th new bike using cash. The last new bike I was going to buy, the salesman wouldn’t budge on a leftover model year. He was like, you aren’t going to buy this bike over a measly $300 dollars. i told him, no, you “lost” a sale over $300 dollars. It’s a funny thing, you negotiate differently when it’s your money vs borrowed money. People can do what they want, but being educated on finances isn’t a strong point in Moto. I learned and am still learning how money is marketed in a Mickey Mouse way.
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49weasel
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49weasel 1/28/2020 4:49pm
1/28/2020 4:49pm Edited Date/Time 1/28/2020 4:55pm
mxbigd17 wrote:
Some people will never get “it”. The Moto tracks are full of broke people. Going on my 10th new bike using cash. The last new bike...
Some people will never get “it”. The Moto tracks are full of broke people. Going on my 10th new bike using cash. The last new bike I was going to buy, the salesman wouldn’t budge on a leftover model year. He was like, you aren’t going to buy this bike over a measly $300 dollars. i told him, no, you “lost” a sale over $300 dollars. It’s a funny thing, you negotiate differently when it’s your money vs borrowed money. People can do what they want, but being educated on finances isn’t a strong point in Moto. I learned and am still learning how money is marketed in a Mickey Mouse way.
I finance a new bike every year and buy current year models as soon as a dealer has one at cost or below. I go in educated and don’t budge. There’s plenty of dealers that hate selling dirt bikes in Ohio and those dealers will give you a great deal if you’re not an idiot and you do your homework before you walk in.

The dealer doesn’t give 2 shits you’re paying cash. They actually get a small kickback (which doesn’t affect the bike price) if you use manufacture financing. Financed Deals are funded within 24hrs and no one has to make a deposit at a bank.

If you finance 10k at 2.99% interest for 36 months you’re only paying $468 in interest.
For $468 it’s a way smarter bet to keep your $10,000 in the bank.


I’m actually surprised no one mentioned doing a 401k loan. Interest rates are ok and it goes into your account, plus you own the bike free and clear.
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mxbigd17
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mxbigd17 1/28/2020 5:28pm
1/28/2020 5:28pm
mxbigd17 wrote:
Some people will never get “it”. The Moto tracks are full of broke people. Going on my 10th new bike using cash. The last new bike...
Some people will never get “it”. The Moto tracks are full of broke people. Going on my 10th new bike using cash. The last new bike I was going to buy, the salesman wouldn’t budge on a leftover model year. He was like, you aren’t going to buy this bike over a measly $300 dollars. i told him, no, you “lost” a sale over $300 dollars. It’s a funny thing, you negotiate differently when it’s your money vs borrowed money. People can do what they want, but being educated on finances isn’t a strong point in Moto. I learned and am still learning how money is marketed in a Mickey Mouse way.
49weasel wrote:
I finance a new bike every year and buy current year models as soon as a dealer has one at cost or below. I go in...
I finance a new bike every year and buy current year models as soon as a dealer has one at cost or below. I go in educated and don’t budge. There’s plenty of dealers that hate selling dirt bikes in Ohio and those dealers will give you a great deal if you’re not an idiot and you do your homework before you walk in.

The dealer doesn’t give 2 shits you’re paying cash. They actually get a small kickback (which doesn’t affect the bike price) if you use manufacture financing. Financed Deals are funded within 24hrs and no one has to make a deposit at a bank.

If you finance 10k at 2.99% interest for 36 months you’re only paying $468 in interest.
For $468 it’s a way smarter bet to keep your $10,000 in the bank.


I’m actually surprised no one mentioned doing a 401k loan. Interest rates are ok and it goes into your account, plus you own the bike free and clear.
I know the dealer doesn’t give two shits if I’m paying cash, but I do. I’m not against people making a GREAT deal and borrowing money to have fun....but it is what it is.
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SLAPAHO
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SLAPAHO 1/28/2020 7:37pm
1/28/2020 7:37pm Edited Date/Time 1/28/2020 7:49pm
The only thing dumber for a kid in his 20's to do, besides financing a dirt bike, is to take $10k out of the bank and spend it on a dirt bike...
Some people like to spend their hard earned cash on a hobby and think they're smarter than everyone else. Some leave their hard earned money in the bank and borrow money at a dirt cheap rate (2.99-3.99%)... and actually get credit out of it. Do as you wish...

btw, if there was no bike financing, there would be no moto as it is known today.... i think vintage would make a huge comeback in that case..
oh yeah, and to respond to the reason this thread was even started.. yeah, i was with synchrony bank for a minute also.They are absolutely horrible. i ended up just paying that bike off to not have to deal with them anymore... yamaha 2.99 finance worked out pretty good a couple of years ago... that was for 36 months.. well worth it....
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bama205
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bama205 1/28/2020 7:55pm
1/28/2020 7:55pm
newmason wrote:
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer...
What's that $11k bike cost after the life of the loan? Even if you are paying early? Factor in interest + depreciation. Definitely not a boomer and yes totally a boomer comment, but don't buy a new bike... If it's 0% interest then finance away...
It’s $11k, who cares? Peanuts

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MattyVicious 1/30/2020 11:03pm
1/30/2020 11:03pm
peltier626 wrote:
I currently finance through them and have received some letters that they're switching financing firms, some of the details seem unclear. Has anyone else received these...
I currently finance through them and have received some letters that they're switching financing firms, some of the details seem unclear. Has anyone else received these notices? Seems a little fishy.
I have not.

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