i have the suzuki card and i wanted to know who is the best where is the lower interest rates

The suzuki card is just like a credit card so the interest rate is a little higher and usually goes up after 2 year introductory period. Best interest rates are usually with credit unions

http://www.gixxer.com/forums/showthread.php?t=205149

the money isnt the problem i just dont want to get raped in intrest, i can my my bike payments shit i some times drop double payments. just looking to see if some where there are better rates then the suuki card.

i have the suzuki card and i wanted to know who is the best where is the lower interest rates


The Suzuki credit card is the route you should go if you have little to no credit and/or bad credit (I didn't, but I didn't know any better at the time). They do their financing throuhg HSBC and they will ass rape you on hidden fees and charges and fluctuating interest, dealers use it to just get anyone signed up, get them the bike and get them out the door. Then lube you up and aim for penetration as you're walking away.

You'll be MUCH better off going to your own bank and taking out a far lower interest loan and buy the bike outright with it and just pay that loan back to your bank.

HIGHLY advise against using Suzuki credit. I made that mistake once and never again. And if you do have the card, pay it off as fast as possible and close the account.

The Suzuki credit card is the route you should go if you have little to no credit and/or bad credit (I didn't, but I didn't know any better at the time). They do their financing throuhg HSBC and they will ass rape you on hidden fees and charges and fluctuating interest, dealers use it to just get anyone signed up, get them the bike and get them out the door. Then lube you up and aim for penetration as you're walking away.

You'll be MUCH better off going to your own bank and taking out a far lower interest loan and buy the bike outright with it and just pay that loan back to your bank.

HIGHLY advise against using Suzuki credit. I made that mistake once and never again. And if you do have the card, pay it off as fast as possible and close the account.
Amen to that :cheers Dont use them :nono

The one good thing the dealers will harp on with the Suzuki card is the fact you don't need full coverage insurance. Price out your insurance and figure that into your payments along with you note. If you have good credit you can get a loan at a bank/credit union for a motorcycle in which the bike itself will be collateral which will get you better interest rates but will force you to get full coverage.

If you are dead set against getting full coverage then you can try for a personal loan, don't mention it's for a bike, and carry liability only. Or you can go back to using the Suzuki card.

http://www.gixxer.com/forums/showthread.php?t=205149

NUF SAID!

You may be able to afford it now but if you use a CARD you will get raped, and go into some major debt. Local credit unions are the best. They actually need your business, so if you have decent credit, and collateral (the bike) you can usually get a lower interest rate, unless you're upside down on the loan. I have 6.995 through USAA. the next best, (which would be the best for anyone who's non-military) was a local credit union @ 7.595. Shop around, but do keep in mind that everytime you have your credit run during an application, your score will decrease.


Do I need to do another indebtedness-payer-offer Post? GEEZSH :banghead

I made the Suzuki card mistake myself on my left over k7. The sad thing was I had excellent credit and I let the dealer talk me into it :hammer. I highly recommend not doing the card. It easily dropped my credit score almost a hundred points, and now on my credit score it reads "high revolving credit". I will be close to having it paid off in a year, but the damage is already done.

I’ve used the Suzuki, Yamaha and Honda cards in the past and either paid off the card before the introductory rate changed or moved the balance to a zero percent card or personal loan.

What ever you do, do NOT let it go past the introductory rate unless you like paying something in the neighborhood of 24% interest.

When I bought my K8 I did the dealership financing credit card, but only for the first 30 days. The first payment is no iterest, so I paid a good amount on it and then refinanced after that.

I used AAA, with a rate of 7.25% for 60 months or less. Took less than 1 day to get pre-approved.

Apply through banks or cu. Dealer card will give you a teaser rate then f u in the ass after that. :nono:nono :nono

CU is the best bet. Interest rate should be in the 5%-7% range.

I used the Suzuki Card and pay fixed 7.9% for 84 months. Long term but I am paying more on each payment. I just wanted a low payment. I did not want the $79 for 2 years then get rapped after that.

I went through a credit union and got a personal loan of 10.99% fixed for 5 years. They had Used Motorcycle Loans around 5% but that required full coverage which would cost me too much.

^^

until the bike gets stolen, and then your paying for a bike you don't have.

Always get full coverage for a bike. At the least liability and theft coverage.

pay the man with CASH

the credit card sucks worst way to go i also being young (20 at the time) feel into the trap at wonderfull intrest rate of 17% that was in february i bought a left over k7 thank god i was able to put alot of money on it quick as of now the balance is $0 man does it feel good not to have any payments best bet is a personal loan for the bike also dont go for the $99 payment a month deal also because in 2 years you will find out you still pretty much owe the same amount on your bike

The one good thing the dealers will harp on with the Suzuki card is the fact you don't need full coverage insurance. Price out your insurance and figure that into your payments along with you note. If you have good credit you can get a loan at a bank/credit union for a motorcycle in which the bike itself will be collateral which will get you better interest rates but will force you to get full coverage.

If you are dead set against getting full coverage then you can try for a personal loan, don't mention it's for a bike, and carry liability only. Or you can go back to using the Suzuki card.

No offense, but if you're going to pay payments on the bike you'd be pretty stupid to not carry full coverage... If for no other reason but to make sure the bike get's fixed up so you can sell it and pay off at least SOME of your remaining debt...

If you can't afford full coverage you either need to find a different insurance company (i.e. State Farm) or save cash and pay for the bike outright...

The last thing you wanna do is spend a couple years paying payments on a bike that was totaled...

^^

until the bike gets stolen, and then your paying for a bike you don't have.

Always get full coverage for a bike. At the least liability and theft coverage.

Hmm yeah they wanted 4,500 a year for coverage.. I would rather pay the rest of the bike off.. Two years of payments on insurance is more than the damn bike,,, You think its worth it?

Hmm yeah they wanted 4,500 a year for coverage.. I would rather pay the rest of the bike off.. Two years of payments on insurance is more than the damn bike,,, You think its worth it?

If it's that damn much you either need to:

a) Move

b) Check with state farm

c) i can't come up with any other options, but do something for christs sake! :lol

FWIW I've been paying $680 a year for full coverage (with $0 deductable and medium coverages across the board) for a 1k... Actually it was cheaper, it went up like $10 last year...

Insurance is one of those things that you'll find WILDLY different prices on.. It pays to shop around... Even the last new car I bought I got quoted from the cheapest of $460 / year to the highest of $2900 / year... BIG freaking difference! :ohmy

The Suzuki credit card is the route you should go if you have little to no credit and/or bad credit (I didn't, but I didn't know any better at the time). They do their financing throuhg HSBC and they will ass rape you on hidden fees and charges and fluctuating interest, dealers use it to just get anyone signed up, get them the bike and get them out the door. Then lube you up and aim for penetration as you're walking away.

You'll be MUCH better off going to your own bank and taking out a far lower interest loan and buy the bike outright with it and just pay that loan back to your bank.

HIGHLY advise against using Suzuki credit. I made that mistake once and never again. And if you do have the card, pay it off as fast as possible and close the account.

nah man...the last thing you wanna do is close the account. it should be common knowledge by now that the most important thing to boosting your credit is to have credit AVAILABLE! once the account is at zero, keep it there. unless its a card that charges annual fees. if the account does charge fees for keeping the account open with zero balance it helps you to keep it open because your credit score (and therefore your INTEREST RATE) depend highly on you debt to credit ratio. Which is how much total credit you have available and the total of what you owe. If you close those accounts once they are paid off the ratios will remain the same. so paying off the accounts and closing them will reinforce the fact that you shouldn't be allowed credit.

Well your right I should double check.. What happened was I was originally going through progressive. They wanted $900 a year for liability and $4,500 full coverage. After getting the bike and insuring it, I found another broker which a friend recommended me to.. They gave me a quote for $350 for the year liability.. So i dropped progressive and went with farmers. I should call and ask about what full coverage will be. I suppose I could get full coverage and then possibly refinance the loan to the "used motorcycle" rate?

Definitely go through a bank if they will finance you. Cards through the manufactur often have great interest rates off the bat, but after that they screw you hard core. Not as bad as a credit card often, but not nearly as good as a bank either.

Definitely go through a bank if they will finance you. Cards through the manufactur often have great interest rates off the bat, but after that they screw you hard core. Not as bad as a credit card often, but not nearly as good as a bank either.

From my experience, well at least here in NY. Credit unions have the best rates, and more available loan types than any bank.. (Mommy is a Manager at Chase)

Credit unions often are a little cheaper, but if you have a very good credit rating (FICO score) you can get some killer deals through normal banks as well. I'm pretty damn old so my rating is good enough that most banks all give me about the same rate. Must be some calculation they do by my age and how many gray hairs I have.

No offense, but if you're going to pay payments on the bike you'd be pretty stupid to not carry full coverage... If for no other reason but to make sure the bike get's fixed up so you can sell it and pay off at least SOME of your remaining debt...

If you can't afford full coverage you either need to find a different insurance company (i.e. State Farm) or save cash and pay for the bike outright...

The last thing you wanna do is spend a couple years paying payments on a bike that was totaled...

I carry full coverage but to a lot of people the cost of full coverage is the same as a bike note and a lot of people just care about getting on the road. They don't think about the wreck and cost of repair so for a lot of people this is awesome. Its a matter of preference, me personally I used the card cause my credit was less than perfect and of course the lending was next to nil at the time. I pay double the payment every month so the interest I will end up paying is an acceptable amount to me.