4 wheeler financing question

[99Smokin73Stroker]

I'm sure there are many others on here that have or are financing a 4-wheeler. My question is that I bought my first 4 wheeler this past summer and had only financed a dirt bike before that. I think my interest rate on my dirt bike was about 6 or 8%. However for my 4wheeler it's a whopping 17%! I was just wondering is that a normal rate for a 4 wheeler, or am I getting bent over and dry humped by the financing company?

[stump0331]

Ouch!!!!!!!!!

[Logan]

Yeah, you are getting bent, You could always refinance your truck or something and pay the fourwheeler off.

[Tacomarunner]

Or possibly go through a credit union.

Russell

[Ditty]

Dude, go back and ask them for some lube! 17% is OUTRAGOUS!!!

I just went in to refinance a loan and I got 16% from my bank, but that is b/c my credit SUCKS!!!

[99Smokin73Stroker]

See that's the thing, I have really good credit for my age. At least that's what i'm told. It's like 710 the last time I checked earlier this year.
As for Refinancing I really don't think that would do me any good this soon. I've only had the truck since April. If it was this time next year it might be good, but I really don't wanna refinance at all.

[Logan]

Yeah, it is hard to get good financing for a quad. That is the crappy part. You might want to look around, sometimes credit unions or places like capitol one maybe work with ya. Hell, for that matter, you could get a credit card at a cheaper rate, and put it on that.

[Big Tone]

was it one of those $69 for first six months then the payment goes to like $199 for remaining 42 months?
gotta read the fine print!

[99Smokin73Stroker]

No not at all, no special deal, nothing like that. I bought it outright with no money down. I was just upset because the Gander Mountain "estimated" payment display in front of each quad was based on 9.9% and all the sales guys thought that 9.9 was high! I'm wondering if I should start calling around and trying to refinance it and tell the financing company to stick it in their rears. My first payment was 119 bucks with a balance of 5,096 and the next months statment said my balance was 5112!!!! How in the F does the balance go up after you pay?!?!

[Ditty]

This is what I would do in your position...

Goto the bank and ask for a $6000 loan...like a signature loan or something. If you have a 710 it shouldn't be too hard. Just ask and see what they can do for you. Tell 'em you got screwed at the quad dealer and didn't realize it until you got you first payment. With a 710 you should be able to work something out. Take that loan, tell the quad dealer to go were the sun don't shine and pay them with your loan. Then you should be square with a lower interest rate and lower payment.

(Even if they give you a 12.9% interest rate with the signature loan it's better than 17% that the dealer is shoving in your who-who!)