It you must finance then the only way to know if you’re getting the best rate is to call multiple financial institutions and get quotes for rate comparisons. A lot will depend on you credit score.

 

Right. I kinda just jumped on it by having them run my credit bc I know they’re selling quick. I have good credit. After taxes it’s about 32k. So I’m looking at 3%apr for 30m to 7%apr for 72m. Which would be either a 900 or 520 payment.

 

With RV's you usually arent going to get the same low interest rates as new cars. Probably expect to pay 3.99(rare)- 5.99% with a great score. Mine is usually around 720-730 and I received my credit unions best rate at 4.99%.

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Polaris offers great rates for short term. Might think of using them and dump the loan off to a credit union before the Polaris expires. Can pay down a big amount quick on the Polaris loan.

 

But doing that wouldn't the credit union consider it a 'used car'. Used car financing rates are typically higher than new vehicle rates.

But I could be wrong....

 

I use my RZR 5-6 days a week, when I got the new one, I didnt want to be without a ride.

The dealership was able to get me a 6 months 0% interest loan with a good down payment , so I could get the new RZR first , build it up , and then sell off my old RZR without taking lowball offers.
If I were to happen to go over 6 months, the rate is 9.99% though. Youd want to find a better rate through a CU or something if you werent able to pay it off .

 

I use my RZR 5-6 days a week, when I got the new one, I didnt want to be without a ride.

The dealership was able to get me a 6 months 0% interest loan with a good down payment , so I could get the new RZR first , build it up , and then sell off my old RZR without taking lowball offers.
If I were to happen to go over 6 months, the rate is 9.99% though. Youd want to find a better rate through a CU or something if you werent able to pay it off .

Is there any hidden fees to look out for?

 

I’m not sure when, but recently thy change the rules on financing utv’s. The loan will fall under a personal loan, with higher interest rates.


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Make sure there is no early payoff charge. Don’t take a variable rate. I always pay cash unless the loan interest is less than my return on investments. If you can’t pay cash try and pay extra on the principle each month.

 

Rates vary for UTV purchases and depends heavily on your personal financial situation. UTV's are seen as luxury items now, don't forget insurance coverage too needed in most states. Best rates I've seen are for short term loans, longer loans they'll charge more due to risk of damage/failure. Can always shop around at banks and credit unions, have them do soft pull on credit checks so it doesn't effect your credit score overall and have them do estimated loan options to select from.

 

My local credit union treats them like cars. They just quoted me 3.24 for a 72 month loan.

 

Man I jumped on it. lve been wanting to get one and now that they are selling fast. Being that I already got it can I transfer the loan to a CU to get a better rate. I have really good credit but they got me at 7.49 for 72

 

Contact "Westconsin" for a quote. Folks we know have said they have the lowest interest rate.

WESTconsin Credit Union | WI Personal & Business Loans | Mortgage

WESTconsin Credit Union in WI offers online banking, personal and business loans, mortgage loans, and checking accounts. Explore our products and services.

www.westconsincu.org

 

You can always use whatever the dealership has for options and then call your credit union or whoever and they will buy the loan and usually at a better interest rate. Right now lending institutions are looking for new loans. I had a CU call me and ask if they could buy 2 of my other loans and give me better interest rates. After I asked about fees and early payoff charges which there were none I said you bet you can save me money.

 

I literally just jumped on it. Saw same day & went for it. Can the loan be transferred to a CU to get a better rate? Do I have to wait a couple days before doing so?

 

Everything is spelled out in the contract. If there is a penalty for early payoff/termination,sometimes seen with special financing offers from a dealership, then it will be in the contract.

Many times, but not always, lower interest rates are "bought down", but the dealer. The wise man asks the dealer if there is an additional discount available for not taking the lower or zero % program. As a general rule of thumb you're better off taking the discount and using the lowest rate you can secure on your own. Not always, but usually.

Factory's sometime fund their own zero percent programs just to help move cars. Real factory funded is more common at end of year, but anytime a factory has to dump excess capacity they'll do a 0%.

What rate you will get depends on the FI. Some will consider make a loan under their car program, just as they would for a motorcycle, snowmobile, or etc. Others will insist it's on a personal line of credit (higher interest rate).

I rarely financy my toys, but the few times I have I've just taken a loan on one of my vehicles instead.

Luck to you.

 

One way to know if you're getting a good deal is to check the annual percentage rate (APR) and compare it to the average for car loans in your area. You can also check if there are any hidden fees or penalties. It's also a good idea to talk to a mortgage advisor or financial professional for advice. Keep in mind that financing a car at a dealership may not always be the best option, as they may have higher rates or fees. It's always a good idea to shop around and compare rates from different lenders, including banks and credit unions. And also keep in mind that Mortgage Advice Cambridge is always available to help you with your financial decisions.

 

Shopping around and gathering multiple offers will give you a better perspective and enable you to make an informed decision.