Financing rates suck

Randi Morgan

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trying to get financing for my 2022 snocheck, with a $5k downpayment these guys are quoting between 14 and 26% rates on roughly $13k. Is anyone else as choked as me at these ripoff numbers? How did credit card rates become the new norm for financing chit that was 6-8% a decade ago? My own bank is quoting just under 20% (but wont actually say what the rate is when pressed). Are there any better options out there?
 

Got boost want snow

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Those are the kind of rates that will slow spending. absolutly hate giving my money to banks so it will be cash for the new toy. Probably be my last new sled
 

1100

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Ouch. I’ve always payed for my sleds cash. But at 20-25k that’s getting harder to do. Guess I’ll just keep on beating on the old t3 for a few more seasons.
 

lilduke

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trying to get financing for my 2022 snocheck, with a $5k downpayment these guys are quoting between 14 and 26% rates on roughly $13k. Is anyone else as choked as me at these ripoff numbers? How did credit card rates become the new norm for financing chit that was 6-8% a decade ago? My own bank is quoting just under 20% (but wont actually say what the rate is when pressed). Are there any better options out there?

Best option is to pay cash for toys....
 

kingcat162

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Ouch. I’ve always payed for my sleds cash. But at 20-25k that’s getting harder to do. Guess I’ll just keep on beating on the old t3 for a few more seasons.
Yeeeesssss! Let's bash the T3's
 

lilduke

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If you can find a better rate sure, but at 26% id say fuk that
 

pfi572

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If credit rating isn’t great the rates are going to be high I understand.
If you have assets with good Equity take line of credit out if you think it’s important to have the toy ?!
Pay it off quickly and you won’t pay much interest.
Wants are cash only . IMO
 

Truebro

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Financing/mortgages are so misleading. You see posted rates of 1.4% but when you go into the bank the best rate you can get is 3.0% with 800 credit score. Haha. Like, what kind of people get these low rates? Martians?
Pro tip- don’t negotiate with your local branch call the actual bank and negotiate with them. You will get the 1.4% rate....
 
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