3.9% No money down promo

[Kmutt]

Anybody have more info on the specifics? Triumph gives an expamle when paying full price ($16,999) @ 3.9% and 72months. Looks reasonable but what if you negotiate a lower price? Can you still take advantage of the offer? (there is mention of numbers may vary) Just trying to get a feel for their financing or should I go to my local credit union. Anybody use Freedom finacial? How is their customer service and such.

Thanks for any info.



mutt

 

[Kmutt]

Okay so I did some digging and seems like the company is specifical geared towards motorcycle financing (good start!) and they do allow online payments as well as mail or by phone so thats a plus since they're located in reno nevada.

Sounds like its a good group not to mention triumph is using them for the promo financing, I take that as they must be OK.

So the real question would be..........................Is anyone using them to finance and how has the service and experience been thus far??

Thanks again for any info


mutt

 

[Sidecar Flip]

What I'd do is amortize 3.9% for 72 months and take a look at the interest/principal ratio and see if there is any pre-payment penalty, if any. In as much as the prime is so low, you might be better off securing a loan from your credit union (so long as your base credit score is good) and paying the interest to them (that's where they get the money to pay salaries, etc), rather than paying the salary of some yahoo in Reno, Nevada.

Under Rule 53S of the Truth-In-Lending Law, there can be no penalty for early payment of loans secured through public banks and private credit unions, but there can be a pre-payment clause in privately secured loans from other lenders.

You might want to give serious thought to keeping the funds local.

The other thing that goes on with that type of arrangement is that the dealer gets an incentive that you never see. He or she gets a financial incentive to 'sell' you the packaged financing. It may be a cash payout or a credit, but it's there in one form or another. That's not all bad, however, you might be able to negotiate a lower rate locally. Remember the Overnight Lending Rate (Prime) is at a historic low and people, in general, aren't borrowing. If you are, you are in the drivers seat so to speak. Take full advantage of that.

 

[Pig9r]

I think Triumph uses GE Moneybank. I purchased a 2003 Speed Triple with special APR and negotiated a lower price and paid it off early. No problems. I think they are required in ads to state the cost of financing so they give an example of $16,999 for 72 months. A lot of the car companies state it as X dollars per $1000 financed.

 

[wildrooster]

I did the 3.9 I believe I can answer some questions. Ok first off you can finance for up to 72 months I chose 60 to keep my payment about at what I had for the vulcan, you do not have to finance the full amount I did about 11,000, You can tack in anything in to the financing you want so accessories go ahead and get them. Your first bill is due a month after you sign the paperwork.

Hopes this helps

 

[CrazyTed]

I also used the 3.9% to get my 08 Tourer. I got a better price since I'm good friends with the dealer. I also added in the sissy bar, mounting kit and pad to the finance price. My credit union could not come close to the 3.9%. I have not had any problems with the financing company at all.

 

[dougl]

Okay so I did some digging and seems like the company is specifical geared towards motorcycle financing (good start!) and they do allow online payments as well as mail or by phone so thats a plus since they're located in reno nevada.

Sounds like its a good group not to mention triumph is using them for the promo financing, I take that as they must be OK.

So the real question would be..........................Is anyone using them to finance and how has the service and experience been thus far??

Thanks again for any info


mutt

The Triumph dealer in Reno is Freedom Cycle. Is it them?

 

[Kmutt]

Excellent respones fellers.

Flip- Thanks for some inside scoop on financing. My credit is good and the credit union I belong to will deduct from my paycheck on a weekly basis if I choose. Not to mention I could borrow against my 401K and pay the interest back to me!!!!

Pig9r - Triumph is using freedom road financial for this promo- Theyre a division of evergreen bank. i dont know anymore than that.

Wildrooster, Crazyted, Thank you for the info it is most helpful hearing from people who have went this route to get their scoot. I like the fact you can add accessories into the financing. Although I will put money down it helps to know thats an option.

Dougl - Not sure all I know is what is posted on the triumph website under promo's


Thanks all, excellent responses. I knew I liked this site for a reason. I'm getting excited about the purchase, and more importantly about the pipe upgrade and tuneboy. I love messing with sh*t


mutt

 

[crazyman]

I am so tempted to go into more debt to get that Rocket Tourer. I had test rode back in September and was so impressed I had them draw up the sale. I backed out at the last minute though. That was so hard to let go of. I just need a bit more money a month to make the payments. Then it's mine.

 

[Sidecar Flip]

I think Triumph uses GE Moneybank. I purchased a 2003 Speed Triple with special APR and negotiated a lower price and paid it off early. No problems. I think they are required in ads to state the cost of financing so they give an example of $16,999 for 72 months. A lot of the car companies state it as X dollars per $1000 financed.

Pigger....
I believe GEMoneybank is no longer affilaited with Triumph or vice-versa.

The Triumph dealer in Reno is Freedom Cycle. Is it them?

I don't believe any dealer has anything to do with financing, I suspect the office of the lender or the physiacl address is Reno.