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Discussion Starter · #1 ·
I just applied to and was approved for Suzuki's finance card. Question is, has anyone really used it? I see that 99$ for 60 month offer they have...very appealing, thats why I applied for Suzuki's card. Just wondering if anyone has bought a gsxr with that card, cause it seems almost too good. Any other details would be appreciated too.
 

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That's how I got my 1000. Just read all the fine print. Make sure you can pay more than the 99 a month, or at least make sure you pay it off early. If you do the math, it doesn't add up, but I just send two checks every month, one for my payment, and one that says "apply to priciple cost". Other than that, it's a great finance offer, just take advantage of the payments and make sure you use it the way it is meant to be used. You don't want to end up with that huge ballon payment at the end.
 

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Discussion Starter · #3 ·
Thanks for the quick reply, now I read that fine print...but I'm not sure if I totally get it, I can see how it will have that killer interest rate at the end. But about how much do you add to the principle every month ontop of the 99$? If it makes a difference, I am looking at the 600, so the total principle will be less than the 1000. Also, what kind of down payment did you use? Tell me if I'm right, but from the looks of it, you pay 99$ a month, for 60 months, and whatever is left on the principle after that, will get the high interest rate?
 

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I read some of the fine print, but even the initial interest rate during the 99 dollar period isn't that great. So definately pay it off before the 60 months or they will screw you bad. Here's how you figure it all out. I'm a CPA so I always look at numbers.

Principle * (Int. rate/12) = monthly interst you pay.

so let's say 10,000 at 12% - easy for example. It computes to a 222.44 monthly payment so

payment int/12 int 10,000
($222.44) 0.01 100.00 $9,677.56
($222.44) 0.01 96.78 $9,358.34
($222.44) 0.01 93.58 $9,042.31
($222.44) 0.01 90.42 $8,729.44
($222.44) 0.01 87.29 $8,419.70
($222.44) 0.01 84.20 $8,113.06
($222.44) 0.01 81.13 $7,809.48
($222.44) 0.01 78.09 $7,508.95
($222.44) 0.01 75.09 $7,211.41
($222.44) 0.01 72.11 $6,916.85
($222.44) 0.01 69.17 $6,625.24

you can easily do this in excel also
 

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Welcome to the site man, just like they are saying, you definatly have to pay more that the $99 a month, be closer to probably $160-190 depending on the interest rate.
 

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Discussion Starter · #7 ·
Poopy...99$ sounded good. But then again, I wasn't really getting my hopes up for paying just 99$. It won't stop me anyways. Now having the suzuki card, does that automatically allow me to finance, even though its a crap interest rate? Cause I still owe money on my sv650s and a little bit on my 4wheeler, credit is good though, never missed payments, paid full every month on credit card, etc. I'm just young (20) so who knows.
 

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Is there a limit on your suzuki card, i'm not familiar with them. if there isn't I would think you could get it, they've already checked your credit and given you the card so spend away. :thumbup:
 

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Psych_77 said:
Is there a limit on your suzuki card, i'm not familiar with them. if there isn't I would think you could get it, they've already checked your credit and given you the card so spend away. :thumbup:
There's most likely a limit.

The good thing about it is though, you can make the normal payment of like $160 or howmuch it would be, but if you have a tough month or somthing then you can pay the $99 and make up the rest later and not have late payments, or default on the loan.
 

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It's actually got a limit. The interest rate for the puchase of the bike depends on your credit. For example, I got mine with 9%, but to address your earlier statement about the high intest at the end........for purposes of financing the bike, the card actually has a different interest rate for purchases than the financing of the bike. It's really hard to explain without showing you my statement. To make a long story short, you pay on the "special finance promotion" (i.e. the bike)...minimum payments of $99.00 for the 60 months. If, at the end of the 60, you have a leftover balance, and you will if you make min. payments, then you have 2 options, a balloon payment of the balance due, or you can refinance the remainder under the interest rate of the "credit card".......you don't want to do that. What I do is pay, whatever I can afford that month on a seperate check, and at the bottom I write "apply to principle balance" otherwise it will all go to interest just as if I were making a normal payment. Got it? I know it can get a little confusing.....it gets easier as you get older.
 

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skibum91 said:
There's most likely a limit.

The good thing about it is though, you can make the normal payment of like $160 or howmuch it would be, but if you have a tough month or somthing then you can pay the $99 and make up the rest later and not have late payments, or default on the loan.
I figured there would be a limit, but I would think it would have to be enough for the bike. It's a good deal, if you can't get a better rate some where else, you just have to know what your doing.
 
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