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Started By
Message
Financing used ATV/SXS
Posted on 7/29/15 at 12:16 pm
Posted on 7/29/15 at 12:16 pm
What type of loans do you guys use when buying used ATV/UTV? Looking to finance 6-8k. Personal loan? Used ATV loan?
9
Posted on 7/29/15 at 12:21 pm to rippinlipsbendintips
Cash
Posted on 7/29/15 at 12:23 pm to rippinlipsbendintips
I'm wanting to trade my ATV in on a golf cart. I'd buy new if it made that more possible...I guess I just need to show up and see what they say.
Posted on 7/29/15 at 12:25 pm to rippinlipsbendintips
Soundsike a terrible idea
Posted on 7/29/15 at 12:33 pm to rippinlipsbendintips
Us po'folks who have to buy on time try to get the lowest rate possible. Signature loan will probably have the highest rates. I'd look at Sheffield and some local credit unions for an ATV loan.
Posted on 7/29/15 at 12:40 pm to rippinlipsbendintips
quote:
Looking to finance 6-8k
I personally wouldn't finance a used ATV. You could finance for a new with manufacturer incentives and a decent rate. No more than 36 months though. Yamaha's new Kodiak series seems like its right in your budget brand new machine with great features.
ETA: Just looked Suzuki has 0% for 60 months for qualified buyers. The 750 Power steering is a beast.
This post was edited on 7/29/15 at 12:45 pm
Posted on 7/29/15 at 12:49 pm to rippinlipsbendintips
Cash only baw
Posted on 7/29/15 at 12:51 pm to Uncle Brady
Looking to put down around 4k. So total 10-12k. What deals are Polaris having now? I feel that if I buy new it will lose value the most over the first year.
Posted on 7/29/15 at 1:24 pm to rippinlipsbendintips
quote:
lose value
Personally I would get over this feeling. ATV/UTV hold no value, as much as we want them to. Find you something that you love and run the hell out of it for ten years.
What are you into? UTV are nice but I dont have or want to own a trailer or have it sitting in my garage. I like an ATV that is mobile and takes up less space.
Posted on 7/29/15 at 1:28 pm to 007mag
Banks will really give you a loan for a used 4 wheeler?
Posted on 7/29/15 at 2:20 pm to rippinlipsbendintips
Check credit unions, as most banks won't do recreational loans anymore. Try looking at the ATV Superstore in Hamilton, AL; they sold and delievered my ATV for $1,300 less than my local dealer would sell it.
Posted on 7/29/15 at 2:53 pm to rippinlipsbendintips
Do a personal loan or go with Sheffield. Most guys will post cash only. i only pay cash for toys blah blah blah. I bank with telco they have great rates and I have had 2 or 3 loans with Sheffield.
Posted on 7/29/15 at 3:11 pm to rippinlipsbendintips
quote:
What deals are Polaris having now?
Not sure I am a Yamaha man.
Posted on 7/29/15 at 3:24 pm to MarshMan
I'm not bashing taking out a loan, its just personal preference. I took a loan out for my boat but hindsight I wish I just would have paid cash. I know credit unions will loan out money for rec vehicles. Last interest rate I seen was 6% or so
Posted on 7/29/15 at 4:45 pm to Uncle Brady
quote:
ATV/UTV hold no value, as much as we want them to
You sure about that? If you pay market value for a 5 year old Honda and keep it 5 years, I bet you'll get most of your money back.
That being said, if I remember right, when I bought mine it was 5 years old and I used a HELOC that the interest rate was prime minus 1.
That was 6 years ago, and I bet I could get 90% of what I paid for it if I sold it today.
Posted on 7/29/15 at 4:53 pm to REB BEER
quote:
You sure about that? If you pay market value for a 5 year old Honda and keep it 5 years, I bet you'll get most of your money back. That being said, if I remember right, when I bought mine it was 5 years old and I used a HELOC that the interest rate was prime minus 1. That was 6 years ago, and I bet I could get 90% of what I paid for it if I sold it today.
Not trying to hijack the OP's thread but I am referring to purchasing a new ATV for upwards of 9500-13K. There will be value lost. Buying new vs buying used.
This post was edited on 7/29/15 at 4:54 pm
Posted on 7/29/15 at 7:11 pm to rippinlipsbendintips
c'mon man don't finance a toy, especially a used toy
that is personal finance 101
seriously don't do it
resist the urge and buy one when you have the cash
that is personal finance 101
seriously don't do it
resist the urge and buy one when you have the cash
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