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4.99% - both 650 and 1000 V-Stroms qualify.

Check with your Suzuki dealer for full details.
 

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That is a good deal Kiwi, as bikes haven't always enjoyed the lower rates car buyers have been getting in recent years. I spoke to a local bike dealer before Christmas and they wanted 19.3% ( from GEC or somesuch).....in their dreams. Capital markets seem to be drying up but funds in Japan from companies the likes of Toyota are/were offered to dealers at 1--1.5% So it maybe the same with Suzuki. Good time to buy if in the market..... and have a secure job!!

Saturn 5
 

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Suzuki finance

G'day Windy: Mate I'm not in this line of business but here is some help which will be REASONABLY accurate I think but you must read and understand your contract. I'm guessing the stated 4.99% is nominal so the effective rate for calcs. is 5.1% based on interest charged with your repayments being MONTHLY.
Windy, if you Google 'LOAN REPAYMENT CALCULATOR' using 5.1% 4 years on borrowing $12000 you should get: Total repayments $13262.**
Total Interest....... $ 1262.**
Monthly repayment $ 276.** Double check all these numbers!!! I could have got it wrong! I'm not a bean counter either.
Now add all fees and charges. Can't help with that. I would expect in the end budget to pay a little under $300 per month and total interest being around say $1500. Anyway these are reasonable ballpark numbers but ask the loans person to explain clearly all the figures.
INSURANCE: I don't know if you insure your bikes. I believe it is no longer essential to insure the loan if you have some security. Thats another question to ask. Thats all I can help Windy, Let me know the result if you do go ahead.

Cheers Saturn 5.......WARDY
 

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Using my credit unions loan calc it worked it out to be close enough to $13500 but that doesn't take into account any fees and charges or any kind of insurance like bike or loan

Look into the fine print if you do go with it so you understand what you are getting and paying for.
No harm in having a look around either as buying new there might be a bank or credit union that might match or even better the offer perhaps.
 

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One thing to avoid unless you have no other alternatives, don't include bike Insurance as part of the loan. I know most guys here probably wouldn't even consider it but for the intial first year full compo insurance that loan companies will say is mandatory for getting the loan, is many times included in the cost of the loan for someone to ride away if they either can't be bothered to shop around or getting insurance is an issue for them.

If you've taken the usual 60 month (5 yrs) loan, then you'll be paying the first years insurance for that long, while you've had to insure the bike every year after as well...

I know this sounds like common sense but everytime I've considerred going new and talking to the finance bloke, they'll try and co-oerce the uninitiated into this way of getting insurance.

There are times when insurance can be a lot cheaper through the dealer due to special deals with an insurance company, but pay separately if you can.

Cheers

wobbly_boot

(dave)
 

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Warning - unsolicited advice

You know, you could just outright own a bike that runs, save many thousands in interest, insurance, and depreciation, and you could even put those would-be payments to work for you instead of against you. Suzuki is not doing you any favor by putting you into debt. That's all.
 

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Suzuki finance

What you say is correct MMM....But...Managed debt gives you comforts and the pleasures of life. Prior to finance being available to the average working person, people used time payment or lay-by where you didn't have the use of the goods until you had paid in full, or saved for years till you had all the cash to purchase outright. We work to have comforts, food clothing shelter and best of all... motorcycles! It's not everybody who have a disposable income that allows them to purchase outright. But debt uncontrolled will lead to misery. Cheap finance can allow us toys, thanks Mr Suzuki!
 

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You have it backwards, Saturn5. Only wealth affords long term comforts, pleasures, and most importantly, peace. Debt never "gives" anyone anything, and actually takes away peoples' ability to build wealth. For me, no toy is worth that kind of snare. OK, that is really all this time.
 

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Backwards? Maybe, depends, which is the greatest, your love of money or your love of life. For me, given the choice of $10,000 in the bank or my Strom. ....hardly needs answering. It's up to each individual on what gives them some joy. I'd rather ride my bike as a reward for my endeavour than sit under a tree and read a bank statement. So what is wealth anyway, a fat bank account? Many things to many people I would think. Uncontrolled debt is a different issue.

I would die an unhappy man if I had left money in the bank unspent. But that's me, life is very short, enjoy it while you have it. I'll leave it at that.

Saturn 5
P.S. Geeze Kiwi, now look what you went and started.
 

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Hi Kiwi ,4.99% sounds good but as dhula mentioned read the small print ,i spoke to the sales guy that i buy my bikes through at my local Suzuki dealer and over xmas and we were discussing the subject of low interest deals and he said 4.99% was over "2 years" not 5 as per the usual time also there are a few conditions ie:your credit rating,employment history etc: , the repayments were slightly higher for paying off the bike over 2years instead of 5 years but the major saving is that you don't end up paying extra interest.cheers Paul.
 

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Discussion Starter · #12 ·
Yes I read the fine print of which there is quite a bit.
No I'm not going to offer financial advice to people.
The post was simply to alert people that there is a deal available, most of the people who read this forum are legally adults and should then be able to decide whether they want to investigate further and whether the deal being offered by Suzuki is suitable for them.
I wrote "Check with your Suzuki dealer for full details" in my first post for a reason.
 

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Hi Mate, thanks for your post :thumbup: it is good to see that we are starting to get alternative deals offered ,makes buying another bike a lot more attractive .thanks Paul.
 

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4.99% - both 650 and 1000 V-Stroms qualify.

Check with your Suzuki dealer for full details.
I'm a beancounter and checked this deal out before I bought my bike. The interest rate actually works out to be 6.12% which is after Suzuki Finance (GE) add back about $700 in credit establishment charges. In the advertising material it says something like 4.99 % (6.12% comparison rate). Its still pretty good deal if you can afford to repay over 2 years.
 

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obviously the cheapest finance is no finance at all. But 6.12% comparison rate is pretty good consider most people pay more for that on their house loan.
 

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When I needed some temporary cash to buy my Vee, I took a 5-year loan from the credit union against my car, because used car rates were lower than used motorcycle rates. I repaid the money in about 14 months, so doing the 5-year loan kept the monthly payments minimal (interest of about $32/month) over the 14 months that I needed to use the CU's money.

I think if you have decent credit rating and a job, you should look at CU rates before you get into bed with the company making loans for Suzuki. Rates on many types of loans are quite low these days and credit unions are usually very competitive or cheaper than other lending institutions.
 

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finance

Be aware of this sort of bait advertising,there are traps,one is you pay full price for the bike,two is you have to insure through them,three theres fees and charges incorporated in the monthly payment,four you are locked in for the full term and if you pay out early there are penalties,however there are advantages you get a new bike ,two years warranty and reliability,if you think thats worth it its a great deal.toecutter
 

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Hey Guys. I sold my Vee months ago, and now that I have sold my last Vee farkle, I am over and out of here. I greatly appreciated all the great advice and banter that I found here. I especially thank Greywolf for his amazing knowledge and tireless support.

I never forgot the above thread and wanted to make a final comment to it. I learned the lesson of debt versus wealth too late in life to become seriously wealthy, but early enough to dramatically change my financial trajectory. Unlike what saturn5 imagines, I do not seek wealth for its own sake, but for what it ultimately allows me to do for my family and for charitable causes. I felt liberated to win the struggle to break free from debt, and exhilarated to begin to build net wealth. I would not undermine that victory for any toy. Delayed gratification generally leads to greater gratification.

Everyone take care and be safe!
 

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Hey Guys. I sold my Vee months ago, and now that I have sold my last Vee farkle, I am over and out of here. I greatly appreciated all the great advice and banter that I found here. I especially thank Greywolf for his amazing knowledge and tireless support.

I never forgot the above thread and wanted to make a final comment to it. I learned the lesson of debt versus wealth too late in life to become seriously wealthy, but early enough to dramatically change my financial trajectory. Unlike what saturn5 imagines, I do not seek wealth for its own sake, but for what it ultimately allows me to do for my family and for charitable causes. I felt liberated to win the struggle to break free from debt, and exhilarated to instead begin to build net wealth. I would not undermine that victory for any toy. Delayed gratification generally leads to greater gratification.

Everyone take care and be safe!
All the best mate.

But this forum doesn't seem to object to former owners hanging around, so why not pop in for a "look" now and then?

And besides, everyone knows that you will eventually own another Strom again, that's just how it goes. :green_lol:
 
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