FINANCING THE SPYDER

[Derwin]

Well, it looks like I will be financing a portion of my Spyder SE5 purchase. I will have around $7,000 to $9,000 CASH to put down on it, but I will need to get the rest through a loan. I just started a new motor company, and placed an order from a factory for a bunch of scooters which I'll be markting. This left me in a little "cash crunch" as far as the TOTAL amount is concerned.

So, I need your help. Have any of you had your Spyder financed, or a portion of it financed? If so, was it a good rate? Did you get good terms? What institution did you use? I would really appriciate any help you can give me in this. Thanks.

Derwin

P.S. Another way you could help is by buying a scoo......NO, I won't say it! :yikes: I'll buy advertising space from Lamont if I ever have to go that route....but I doubt this is the community that would be interested, even remotely, in my new business! Well, just in case.... www.FlyTheRoadNow.com (http://www.FlyTheRoadNow.com)

[NancysToy]

We financed about 40% of the total cost. We went through our credit union and got a great rate, with a big down payment on a brand new vehicle, even though they knew nothing about it. At first they wanted to charge more, but then did the research, as my wife patiently directed them, and found this one was road worthy and licensed. You may have to work things a bit, but shop around and I'm sure you can do well. Sorry, neither of us can remember the rate, but it was 2% lower than the nearest competitor. Good luck in your new venture, BTW.
-Scotty

[Derwin]

Thanks, Scotty. I really appreciate your kind words of support.

Does anybody else have any experience in financing a portion of the Spyder purchase? If so, please share your story. Thanks!

Derwin

[Smylinacha]

Financed the whole thing with my local credit union - at 6%

[Derwin]

6%? Wow! That's a great rate! :thumbup:

What is your monthly payment? How many months/years is the loan for?

I'm just curious, because I really have never financed anything in years.

Thanks again.

Derwin

[pphantom538]

6% for 3 yrs on $18,000 - 555.80 month or 30.87 per $1,000 financed. 4 yrs = 429.07 5 yrs = 353.21

[pzim]

I did 1/2 cash & 1/2 on a NO interest credit card from my bank!:2thumbs::clap:

[cobweb]

Hi Derwin
I financed 10,000 of mine at a rate of 5.8% I belong to a CU that normally can outdo any banks or other CU's. I don't know if they go outside the federal employee's but I can give you there name and phone # if you like!

[vnmous1]

I see your sig says "Chicagoland". Me, too. Oak Park. Try Consumers Co-Op Credit Union. www.myconsumers.com I got hooked up with them the first time when I financed a motorcycle in Libertyville. They're in Lake Co. Offices in Mundelein, Waukegan, etc. Rates are outstanding and they do a TON of rec vehicles and bikes.

bj

[LittleJohn]

I also did about half down cash, and financed teh other half for 3 years at 3.99% at my CU :2thumbs:

[spyderbitten]

Local credit union did 4.5 % for 5 yrs. I financed 15k, using payroll deductions. Never see the money or a payment coupon. Left my money alone since it's making more than 4.5 %.

[Derwin]

Wow! You guys have been INCREDIBLY helpful in this. :thumbup:

I will be looking up a few credit unions since it seems they are offering some fantanstic rates. 3.9%....Unbelievable!

:2thumbs: Thank you so much for all the help! :2thumbs:

Derwin

By the way...I'm located in the Joliet area.

[LittleJohn]

I will be looking up a few credit unions since it seems they are offering some fantanstic rates. 3.9%....Unbelievable!

Thats what I thought!!!
After the full term of the loan, I willhave paid only about 1400 in interest. Not bad for using someone elses money.

[Buelldog]

Do you have equity in a home??Might want to check out a home equity loan......tax advantage, payback time, good rate!Lots of folks buy toys with Equity Dollars!

[Smylinacha]

6%? Wow! That's a great rate! :thumbup:

What is your monthly payment? How many months/years is the loan for?

I'm just curious, because I really have never financed anything in years.

Thanks again.

Derwin

5 years - payments are $336 - cheaper than my Harley was!

[Derwin]

As many of you know, I ordered the Spyder SE5 back in December from a dealership up in Benton Harbor, MI, and I live in the Joliet, Illinois area. Well, since I ordered, there has been a NEW dealership spring up just 10 minutes away from me. This would save me a 2 hour drive up to the original dealer if I could get it locally.

Well, I was just informed by my dealer that they would be able to TRANSFER my brp certificate to the dealer that is close to me in Wilmington, Illinois, and they would also transfer the deposit. This is what a secretary told me, but I never got confirmation of this.

My question is very simple...... Is this really possible? Has anybody actually had this done? If so, please give me the details!

Here's wishing for a miracle! :pray:

Derwin

[Diggittt]

Financed the whole thing with my local credit union - at 6%


same here....

Diggittt

[Derwin]

I need your help....

A very simple question....DID ANYONE GET FINANCING THROUGH BRP?

I was told that I cannot get financing through the dealer if I am "out of state", so I want to know if any of you DID get financing throught the dealer, even though you did not live in the same state.

My local dealer said that they do financing all the time for people that are not in Illinois. They simply put it through brp, who has an agreement with GE Financial. But the dealer that has my order is in Michigan, and they say no.

Heck, I'm putting $10,000 down on the thing. I wouldn't think this would be a big problem!

So, please give me some feedback on this. I am on the verge of giving up on this again. :mad:

I know....Don't say it.

Derwin

[NancysToy]

I need your help....

A very simple question....DID ANYONE GET FINANCING THROUGH BRP?

I was told that I cannot get financing through the dealer if I am "out of state", so I want to know if any of you DID get financing throught the dealer, even though you did not live in the same state.

My local dealer said that they do financing all the time for people that are not in Illinois. They simply put it through brp, who has an agreement with GE Financial. But the dealer that has my order is in Michigan, and they say no.

Heck, I'm putting $10,000 down on the thing. I wouldn't think this would be a big problem!

So, please give me some feedback on this. I am on the verge of giving up on this again. :mad:

I know....Don't say it.

Derwin
We're in Michigan, and three different dealers said that BRP could not finance the Spyder. Said BRP had no financing program. They did have hook-ups with banks, etc. as an alternative. Maybe it is something peculiar to Michigan. Prices for dealer financing were all at least 2% above the credit union, BTW.
-SWcotty

[Greg H.]

I used GE. 9.9%

[MSGTDOC]

DID 35 PERCENT THROUGH LOAD, FROM 401K PAY MYSELF BACK @ 6% OVER 5 YEARS. USING MY OWN MONEY

[Derwin]

I used GE. 9.9%

Yep, that's what the dealer just told me. I just received an email from him, and he now said that he can put it through GE, but it would be 9.9%. Heck, that's fine with me! I plan on paying it off really fast anyway.

Hmmmm. I MAY just end up with a Spyder after all..... but I don't "bet" on it. It won't be a "done-deal" until the thing is sitting in my drive!

Derwin

[Rando]

Hey Derwin, do you meet any of these requirements? If so, I know where you can get a loan for 4.75%

Employment Eligibility
The charter states that the field of membership is limited to those having the following common bond:
1. Employees of entities engaged in the Air Transportation Industry who work in the United States, meaning:

employees of airlines;
government employees who work directly in the administration, regulation, or security of airlines, airports, or air transportation; and
employees who are located at an airport if they work directly with:

air transportation of freight
air courier services
air and air transportation support and services, for example, janitorial services, airport baggage handling, aircraft cleaning, maintenance and repair services, and runway maintenance services; and
on-board airline food services.

The Industry does not include employees of retail shops, restaurants, travel agencies, hotels, or car rental companies even if located at an airport.
2. employees of this credit union;
3. persons retired as pensioners or annuitants from the above employment;
4. spouses of persons who died while within the field of membership of this credit union;
5. members of their immediate families and households;
6. organizations of such persons, and;
7. corporate or other legal entities in the charter.

[LittleJohn]

My dealer would finance, but I thihnk it was totally seperate from BRP / CanAm. High rates too.

[Greg H.]

My dealer would finance, but I thihnk it was totally seperate from BRP / CanAm. High rates too.

For me, going with 9.9 was fine for long term. The Credit Union or Bank won't go the distance. And, my note isn't bad, of course. I will be paying off early though. It worked out fine. :thumbup:

[Derwin]

Well, folks.....I guess the Saga has finally ended. I was just informed that my credit application was declined....even with putting $10,000 cash down on the order. I guess I just have too many things "in hock" right now for them to consider this loan. It's really surprising to me, though, since over half of the thing would be paid for. I just don't understand it.

Now Brett Cosich, the dealer, asked me if I want to "officially" cancel my order. He said the he would then try to find a person to take my place in line for the SE5, and he would then be able to refund my deposit. Seeing that I was told by an employee at brp that I am ONE OF THE VERY FIRST people to place an order for the SE5, I will be one of the FIRST to be getting it. Actually, he said my SE5 would be delivered in August, but I wasn't supposed to really divulge any details.

So, if anybody wants an EARLY delivery of the SE5, you can take MY PLACE in line to get it. But please TELL ME ABOUT IT, so I know the dealer is being straight with me. I don't want to lose my $1,000 deposit.

Anyway, it's been fun interacting with all of you. It's really too bad. I was really looking forward to sharing my experiences with all of you once I had the Spyder. I'm gonna stop now.....I'm getting a bit depressed over this. :(

Take it easy....and have fun.

Derwin

[TonyMac]

Anyway, it's been fun interacting with all of you. It's really too bad. I was really looking forward to sharing my experiences with all of you once I had the Spyder. I'm gonna stop now.....I'm getting a bit depressed over this. :(

Take it easy....and have fun.

Derwin

Derwin. I've watched a number of your posts where you go back and forth canceling your order, not canceling it, etc. Now that your within a month or so of delivery I hope a financing issue doesn't derail you. There's more than one credit union out there. You may wind up with a slightly higher rate but I have to think whatever passion made you want to place one of the first SE5 orders is still burning.

Hang in there brother! :2thumbs: I'm sure you can work it all out

[Derwin]

You may wind up with a slightly higher rate but I have to think whatever passion made you want to place one of the first SE5 orders is still burning.

Hang in there brother! :2thumbs: I'm sure you can work it all out

Thanks for the encouragement, I really appreciate it.

But now it is simply out of my hands. The fire is still burning, but I just had 3 places turn me down....irregardless of the interest rate. I just have too much stuff on my credit right now, and they don't want to handle me, even with me putting $10,000 cash down on the purchase.

So, it's not pulling out now.....it's me not having the total price or credit to get it. Sorry I put all of you through the agony of reading my posts over the past 7 months or so.

The only thing left for me to do now is either find someone to take my place in line for the SE5, or try to scratch up the remaining $7,000 needed to pay for it in full. The latter does not seem likely, but I'll try. :thumbup:

Derwin

[zzneonzz]

Come on Derwin i'm sure there is some place that can work with you on financing the remaining balance. You have come to far for something like this to stand in your way!!!!!

[bjt]

Our dealer in Michigan also told us that BRP wasn't providing financing for the Spyder. They recommended our local bank or joining a credit union.

[Derwin]

Our dealer in Michigan also told us that BRP wasn't providing financing for the Spyder. They recommended our local bank or joining a credit union.

Brett at Lake Effect Powersports in Benton Harbor, Michigan took my application and sent it into GE Finance. I guess they have a deal or something with BRP. I don't know, maybe all the dealerships don't know about it......or MY dealer was lying to me! But I don't know why he would.

Derwin

[Smylinacha]

That was the first one who accepted me - it was a higher rate and I would have gone w/ it if my credit union didn't come thru - give it a shot - whaddya gotta lose?:2thumbs: Hey you can always put the balance on a credit card and then do a balance transfer to a lower rate later on.

[GoodHouse]

Vehicle loans are some of the easiest to get. Your putting down over 50%. Just go to any large commercial bank...i.e.. wachovia, BoA, Citi, Chase - they offer financing for vehicles including motorcycles. But dont let them run your credit until you are sure it will go through after speaking with the loan officer.

You go back and forth a lot. You need to stick to you decisions and follow through. Worst case scenario, put 7k on a credit card and transfer balances to 0% for a year and try and pay it off or switch it again to another Credit card. Good luck.

[Derwin]

I appreciate all of the positive feedback. But it seems no bank or credit union will let it go through. I am actually putting OVER 50% down. I have $10,000 CASH to put down on this thing, but nobody is willing to finance it. I guess I am just too "stretched" for any bank or cu to take a chance.

Believe me, I'm not a happy camper. :(

Derwin

[NautiBrit]

Have you considered using the $10,000 to pay off your other debts, thereby clearing your credit. Lenders are much more apt to finance you if you have little debt.

[scottmanesis]

Yup that Debt to Income is the major hurdling block for many people even if they are current and have a good score. I just got an offer on my house today that is only 3 grand less than our lowest acceptable offer....we counter offer tommorrow...if all goes well I will be getting our SPyder delivered soon......don't want debt at all....spent too long to get debt free to be talked into any "write offs" etc as an incentive to be a slave to the banks.

You never know what could happen tommorrow and with todays turbulent economy that holds more truth than many people realize........debt is the last thing anyone should be trying to get into right now......we talk about the price of gas alot here...........have you noticed your grociery bill lately??? I believe we are at the beginning of something worse than the Great Depression althought I try to remain positive, when you make money out of thin air like the Federal Reserve Debt note it has to end one day and that day is rapidly approaching.

Sure glad I never used my house as an ATM and my parents taught me well to save for the things I want.......paid cash for the house and everything I ever owned other than a couple of 0 percent cards that I pay at the end of every month.....and just got rid of the NOOSE that the Harley had on me at 600 bucks a month when I was offered the payoff to sell it.....I took a loss as I put down several thousand dollars but I am cool with it......now if I could just find a way to get around the tax man noone could ever take anything from me for any reason.

BTW I am only 36 and although some of my peers SEEM to own more than me , it's more like the banks own more of them. I feel pretty good about semi retirement already and cannot wait to hit the road with our RV.

[dvmdf]

If your credit is good, look for checks from your credit cards in the mail. They send me pretty good offers on cash advances. I have seen 5.9% fr the life of the loan. They might charge a transaction fee of 3 % with about $150 max, but you can negotiate with them to waive it. Sometimes they offer a 0% introductory rate for like 6 months, you can get that, mark your calendar and in 6 months transfer the balance to another card and pay as much as you can every month. I got a call from the dealer today,they said I should get the SE5 in a few weeks.
Los Angeles, PLaced the order 11/07

[Derwin]

Have you considered using the $10,000 to pay off your other debts, thereby clearing your credit. Lenders are much more apt to finance you if you have little debt.

Actually, I intend on paying CASH for the Spyder. All I need is $6500 more. That's not a whole lot of money. I actually have over 2 months to come up with it, so it may indeed be possible.

I really like paying CASH for things that I get also, but SOME things it's really not possible to pay cash for. This Spyder SHOULD be paid for with cash, now I just have to scratch that cash up! That mean work, work, work......or in my case....Sell, Sell, Sell! Anybody interested in the new 3 wheeled scooter I'm selling?.... www.FlyTheRoadNow.com (http://www.FlyTheRoadNow.com) :D Only $2995 for this futuristic vehicle! Sorry, Lamont, for this shameless Ad, but I'm desperate! :opps:

Derwin

[Rando]

$2995 OTD or is that the initial deposit? How long is the wait?

[Derwin]

$2995 OTD or is that the initial deposit? How long is the wait?

The TOTAL cost is only $2995 out the door (plus shipping, of course!). If you pick it up in the Chicago area, there is no shipping charges, or taxes. Not bad for this vehicle. Heck, it even can be used in the snow!:

http://flytheroadnow.com/bmcforum/attachment.php?attachmentid=18&stc=1&d=1216225991

I am expecting my shipment of vehicles to arrive in about 25 days. They are coming directly from the factory overseas. So, if you are picking it up here in Chicago, you would be getting it in about that time. But add about a week or so to that if you need it delivered to you.

All the units I have coming in are already sold, except for 2 of them....a Silver and a Black unit. You can go to this website and watch the video: www.FlyTheRoadNow.com (http://www.FlyTheRoadNow.com) . They are really unique little vehicles for popping around town.

If I sell the 2 units that I have left in this shipment, I will be able to get my Spyder SE5. So if anyone can help me out, I would REALLY appreciate it!

Derwin

I hope Lamont doesn't mind me posting this. But I am really needing to sell these 2 units in order to get my SE5.

[Derwin]

Here's a video of it:


YouTube- Broadcast Yourself.

[scottmanesis]

That's a pretty neat little vehicle there Derwin! The only thing I personally would find odd is having a roof and a windshield and still have to wear a helmet. Like a dome inside a dome, must take some time to get used to being INSIDE with a Helmet on. Looks like fun though!

[Derwin]

Yeah, I know what you mean. Luckily, I live in a state where there is no helmet law! :2thumbs:

So, which color did you want to order? :D

Derwin

[Smylinacha]

Pretty cool but how many http://smileys.on-my-web.com/repository/Drinks/drinking-55.gif did that rider have? He was zig zaggin all over the lane! LOL!

[LittleJohn]

The TOTAL cost is only $2995 out the door (plus shipping, of course!). If you pick it up in the Chicago area, there is no shipping charges, or taxes. Not bad for this vehicle. Heck, it even can be used in the snow!:

http://flytheroadnow.com/bmcforum/attachment.php?attachmentid=18&stc=1&d=1216225991

I am expecting my shipment of vehicles to arrive in about 25 days. They are coming directly from the factory overseas. So, if you are picking it up here in Chicago, you would be getting it in about that time. But add about a week or so to that if you need it delivered to you.

All the units I have coming in are already sold, except for 2 of them....a Silver and a Black unit. You can go to this website and watch the video: www.FlyTheRoadNow.com (http://www.FlyTheRoadNow.com) . They are really unique little vehicles for popping around town.

If I sell the 2 units that I have left in this shipment, I will be able to get my Spyder SE5. So if anyone can help me out, I would REALLY appreciate it!

Derwin

I hope Lamont doesn't mind me posting this. But I am really needing to sell these 2 units in order to get my SE5.

Its a little clearer now why all the banks think your overextended...LOL If youve got a whole shipment of these financed then Id think that too...LOL

Im sure you can sell those last 2 no problem. Best wishes to ya! I know you want the spyder, or maybe you dont, but then again do..... (snicker...just ribbin ya!)

[Derwin]

Im sure you can sell those last 2 no problem. Best wishes to ya! I know you want the spyder, or maybe you dont, but then again do..... (snicker...just ribbin ya!)

Believe me, littlejohn, I WANT MY SPYDER! I want it more than most anything I have EVER wanted in my life. It's just that I have gotten too emotional over the past several months, and I tend to wear my feelings on my sleeve. Yeah, I know.....I'm a wimp! But let me make this perfectly clear....I DO want my Spyder SE5.....More than I can possibly explain to you in this forum.

Now I just hope that somebody comes up and buys the 2 VogueOne vehicles that I have left. If this happens, I WILL HAVE MY SPYDER PAID FOR IN FULL! So, if ANYBODY has an extra $2995 laying around, and would like an AWESOME little vehicle, please go to my site and place the order. Or.....call me direclty at 815-315-0321. Here is another nice pic:

http://flytheroadnow.com/bmcforum/attachment.php?attachmentid=43&stc=1&d=1216251698

Thanks. And God Bless.

Derwin

[Derwin]

Pretty cool but how many http://smileys.on-my-web.com/repository/Drinks/drinking-55.gif did that rider have? He was zig zaggin all over the lane! LOL!

LOL! I noticed that also. I think the guy is just showing-off the tilting ability of the vehicle. So, Smylinacha, which color would you and your hubby like to buy? ---Just joking! :joke: Well, kind of!

Derwin

[LADREW]

The Spyder is very over priced and dealers have been marking them up way beyond reason. I bought one and enjoyed it before selling it but I think the way CAN AM is releasing them has created a false hype especially once the dealer puts a certain level of greed into making a profit. I think between CAN AM, dealers, and the economy they have actually killed a few peoples dreams of owning a Spyder with no special financing and over pricing. Here is the cost of a Spyder broken down for those who really want to know.

Full Moon Color SM5

Dealer net: $12399

Hold back: $795

Dealer invoice: $13174

MSRP: $15499

If you are smart enough to do the math there is a $2500 profit before the dealer even marks it up and so forth. Alot of dealer are trying to charge $2500 for setup, shipping, and so forth which leads to almost a $6000 dollar profit.

Most bank wont finance because the Spider is so overpriced and if you look at the average depriciation over the ifrst year or two its not worth it to them. Also with todays economy you must have a good credit score and so forth.

[Derwin]

I really don't know about all that, LADREW@HOTMAIL.COM (http://www.spyderlovers.com/forums/member.php?u=1795) . I actually think that the Spyder is priced at a level that is very reasonable, considering what you are getting.

Go out and price the Piaggio MP3 500. They are asking $9,000 for that, and it is just a scooter! The Spyder is a major vehicle, and I think is worth every penny.

Now about needing triple A credit, and not having "too much" on your credit before they will approve a loan.....I agree with this. The economy is bad now, and this affects how they give out loans. But that's not BRP's fault. I guess it goes back to the old saying....If you can't afford it, don't buy it!

It so happens that right now I only have $10,000 Cash to put towards the Spyder, and I can't get the credit to finance the remaining amount. It may be that I just "can't afford" the Spyder right now, and it's as simple as that. I really don't want to face-up to that because it really hurts, but I have to eventually. Either that, or I have to come up with the other $6,000 for the purchase.

By the way, are you interested in a very nice VogueOne vehicle? Only $2995! I know...My Bad!

Derwin

[LADREW]

Just for your information the numbers come directly from Can Am and are not based on speculation or guessing. These are the numbers that the dealers are using which they claim can't be discounted but are willing to profit off of. Not trying to be rude but a guy in your situation should sit down and number crunch to try and get the best deal based off of these numbers.

[czdaryle]

Wow if those numbers are accurate I didn't think the dealer was making that much. Don't they also get holdback or some of it?

[ataDude]

Wow if those numbers are accurate I didn't think the dealer was making that much. Don't they also get holdback or some of it?

That's $3,000+/- on MSRP. 20%. Right in line with other margins from other manufacturers.

Now, a dealer markup on top of that is another story. However, "market price" is what a willing seller and buyer agree on.

[LADREW]

Those numbers are the exact numbers from Cam Am which basically say everything is negotiable if you have the information. Most dealers are playing hard ball with the pricing based on it being the latest thrill. I think once they can get the price comparable to a Harley you wont be doing all this deposit and ordering stuff anymore.

[mike3069]

I think once they can get the price comparable to a Harley you wont be doing all this deposit and ordering stuff anymore.

:hun: What do you mean, price comparable to a Harley? You want them to charge MORE?

[Derwin]

These are the numbers that the dealers are using which they claim can't be discounted but are willing to profit off of..

I guess maybe I'm missing something here. If the dealer is profiting a few thousand dollars on the sale, so what? I would HOPE they would profit AT LEAST that much, if not more. I am in sales, and I know that if I were to carry these things, I would surely want to make at least that much profit off the sale of one.

Maybe your not aware of it, I don't know, but these things are very popular right now. The dealer can pretty much ask what they want to ask, unless they are forbidden to do so by BRP. They can ask whatever the market will bare if they choose. This is very normal for an item like this.

As far as MY order for the SE5, I have ABSOLUTELY NO bargaining power whatsoever with a dealer, and neither does anybody else. The SE5 is not even out yet. There is a waiting list to get one. If I don't want to meet the dealers price, guess what? He tells me to "have a nice day" and shows me the door!

Again, I guess I'm just missing something in your comments. This is basic commerce 101. Besides, the price of the Spyder is NOT too high. Harleys are $20,000 and $30,000 for a nice one. Other vehicles that are unique run even higher. I think the Spyder is a real BARGAIN. That's my opinion anyway.

Derwin

***A real bargain, but I may not have one......NUTS! :cus:

Unless...... Anyone interested in the ........Nah....forget it. :(

[sleepman]

I've got no problem paying MSRP, I work in health care but I still have to make sure I make a profit or I'm out of business. As for the dealer fees and other stuff, you just gotta talk'em down.

[Smylinacha]

LOL! I noticed that also. I think the guy is just showing-off the tilting ability of the vehicle. So, Smylinacha, which color would you and your hubby like to buy? ---Just joking! :joke: Well, kind of!

Derwin

I would if I could- I LIKE TOYS but we're tapped. Banks are tough right now. Did you ever get accepted by GE? I did but it was at 12%. I was going to do it and then I would have done a balance xfer to my credit card and paid it off at a low rate but I lucked out w/ the credit union.

[Derwin]

Did you ever get accepted by GE?.

Nope. They turned me down, along with 3 or 4 other banks and credit unions. :mad: The last chance I have of getting my Spyder SE5 will be to sell the 2 VogueOne's that I have left. If I sell them, it's a done deal. I'll have CASH to pay for the Spyder. But it's kind of shaky. Actually, it's REALLY shaky. The economy is just in the tank right now, and people aren't as "free" with their money anymore.

To tell you the truth, I really don't think I'll be able to scratch-up the full amount. I have a little over $10,000 cash on hand, but I need $16,500. It's not looking good :(

I may just call the dealer in Michigan tomorrow, and ask him if he will give me my deposit back NOW. He told me that he may give it back, but it would not be until AFTER September 30th, and only if I give up the certificate NOW. He says that he needs time to "find" a new buyer to take my place in line. WHAT?!?!?!?! I am one of the FIRST people in line to get a SE5, so I would think that a person would grab it immediately.

Anyway, if he says I can have my $1,000 NOW, I will release the certificate now. Otherwise, I'll just stick with it until September, or whatever the last legal date is possible.

I don't know....I'm just really ticked-off about all of this. I'm not angry at anybody except MYSELF. I should have prepared better, and I sure should have made sure the funds were here at this time. I screwed-up.

O.K. That's enough. I'm about to cry, and I know that's not cool!

I'll post my "final" post when/if I get my deposit back. I can always get one next year, right? (Like my beloved Chicago Cubbies...."Wait 'til next year")

Derwin

[bjt]

Cheer up Derwin. Like you said, there is always next year and that gives BRP a chance to work some more of the bugs out of the Spyder. Maybe those brakes won't squeel. Maybe they'll have a hand brake in addition to the footbrake. Maybe they'll have their new model out that is bigger, faster, cooler, prettier, setup for touring, etc., whatever it turns out to be. One thing I would hope is that they'll have SE5s sitting on showroom floors by then and you can just walk in and pick one up. No more of this waiting and speculating when they might come in.

One thing just occured to me, I thought I read a few posts where you had bought some Spyder accessories already. Like the Corbin bags. Is it possible for you sell the items you've purchased or cancel any pending orders to help come up with some extra cash? Then you could ride a stock Spyder for a few months while you scrounged up money to buy the mods you desire and learn more about what mods you really need and which ones you don't.

[Derwin]

One thing just occured to me, I thought I read a few posts where you had bought some Spyder accessories already. Like the Corbin bags..


Yes. I DID order the Corbin bags. I even spoke with a woman over there to verify the order. I gave my credit card information, but they never charged anything. I just assumed they would not charge my card until the order was ready to ship, which is normal with most companies. Anyway, that order has now been canceled.

Well, my time here has indeed been enjoyable. No, I'm NOT going to make ANOTHER departure speech. I think everybody's getting extremely tired of hearing that from me!

Anyway, I'm gonna sit back and relax now. Enjoy the weather. Practice working on my golf game. Try to take in nature while I'm out fishing. Basically not be concerned about this dang Spyder anymore.

Hopefully I'll be back next year, bigger, stronger, better than ever, and with a brand new Spyder SE5 in my driveway.

God Bless.

Derwin

[GoodHouse]

As far as the price is concerned. I think its reasonable. I dont feel ripped off by any means. My SE5 is going to come to 19100 Out the door. Thats a lot of money. It works out to be 500 over msrp. A dealer has big overhead - sales people, property, paperwork, utilities, etc. Making a few grand off a sale is reasonable. I wouldnt mind if i got a better deal, but i also would rather to pay the bit extra to have a reputable dealer that stands behind their stuff. Well i have yet for this full transaction to take place but i am looking forward to it in the next couple months

[ataDude]

... Making a few grand off a sale is reasonable. I wouldnt mind if i got a better deal, but i also would rather to pay the bit extra to have a reputable dealer that stands behind their stuff....

And, stays in business to support you. :thumbup:

.

[bjt]

And, stays in business to support you. :thumbup:


Yep. Watch out when Walmart starts selling Spyders. :rolleyes:

[czdaryle]

I wasn't complaining the dealer was making that much, just surprised as I was told they really weren't making that much and was banking on making the money on accessories and repair/maintance work.

[Derwin]

Well, friends, I just went to ebay and seen a Spyder up for auction. I bid a little over $11,000 for it. It's NOT a SE5 like I had on order, but I don't care anymore. I figure I'll be FORCED to learn how to ride it if I actually have it. But I really DON'T think I'll win the auction. I just thought I would TRY! Currently, I'm the highest bidder, but you know how that goes.

I actually still have time to get my SE5 Spyder that I have on order in Michigan, but the money is just not there.

Anyway, just thought you would like to hear the latest in my ongoing saga/soap opera. Then again, maybe you wouldn't! :(

Derwin

[Smylinacha]

OK, one last question..... sounds like you are doing anything you can to get a :spyder:(And I don't blame ya). But if you are willing to go through lengths to bid on ebay for an SM5 and so many dealers have these SM5's in stock, then don't you have any credit cards with let's say a 20,000 limit? Buy it on that, pay part of it off with the $10K you have in cash, leave a balance of 10K and then balance transfer to a lower rate when you get one of those offers to do so. Or put the 10K down, put the other 6K on the card and then pay it off later.

Just saying (and not that I am a money guru) :dontknow:

[scottmanesis]

If GE turns a customer down for financing it is likely they do not have an open line of credit for 20k, usually they turn down due to debt to income, which means that the current debt load is excessive in relation to income, an available line of credit of 20k would indicate a good debt to income ratio to be granted that large sum of unsecured credit card debt and GE would have had no problem approving just 5k secured.

That being said I would guess that Derwin does not have a card he can charge 20k on right now. I am also in that group...but not unhappy about it, thats a long time to be an endentured slave.....revolving debt should be a crime...its like loan sharking..if you think some mortgage brokers are shady they are nothing compared to those who offer credit cards, what a scam.

[pphantom538]

Well, friends, I just went to ebay and seen a Spyder up for auction. I bid a little over $11,000 for it. It's NOT a SE5 like I had on order, but I don't care anymore. I figure I'll be FORCED to learn how to ride it if I actually have it. But I really DON'T think I'll win the auction. I just thought I would TRY! Currently, I'm the highest bidder, but you know how that goes.

I actually still have time to get my SE5 Spyder that I have on order in Michigan, but the money is just not there.

Anyway, just thought you would like to hear the latest in my ongoing saga/soap opera. Then again, maybe you wouldn't! :(

Derwin

I do and still hope you get the SE5!

[Derwin]

I do and still hope you get the SE5!

Well, there is a way that you can ASSURE I will be fulfilling my DREAM..... Simply go to my website: www.FlyTheRoadNow.com (http://www.FlyTheRoadNow.com) , and buy one of my new VogueOne vehicles! :2thumbs: This way YOU will have a nice little toy to play around with, and I'll have a REAL motorcycle for the first time in my life! A win/win for EVERYBODY! :thumbup:

Oops....I better stop this. I'm beginning to sound like a begger. :(

Derwin

[AMTJIM]

I went through eaglemark...it's harley davidson related.

[vwatso]

D,


Does this mean your out?

[Derwin]

D,


Does this mean your out?

As you may know, I had the SE5 on order since last year with LakeEffect Powersports in Benton Harbor, Michigan. But I have run into a financial problem now where I only have $10,000 CASH to put towards the purchase of the Spyder. I still owe $6,500 towards it.

So, as of now, I am kind of "on the bubble" with the dealer. If I don't come up with the rest of the money within the next couple weeks, I will lose my order for the Spyder SE5, and I will also lose my deposit. I tried financing the remainder, but it will not go through due to my current debt load. As it stands, if I don't come up with the remaining $6,500, I will indeed be "out", and will lose the main thing I have been dreaming about for the past year. This is why I needed a couple people to buy one of the new vehicles that I am selling at my website. If I sell 2 of them, then I will be able to get the Spyder, and all will be well in the world!

That's about it for now. I'm still "keeping hope alive" up until the last minute. If somebody is out there reading this that has an extra $3 grand to spend on the cool little "toy" that I am selling, I would be so incredibly grateful that you would not even believe it. All I need is 2 people, and I'm set.

Anyway, I think I have said enough about this. I really don't want to annoy anybody with this, and I sure don't want people to get angry with me.

Derwin

[SpydeeBite2]

We put half down & borrowed half. 6% with US Bank very satisfied with the bank & service.

[Derwin]

Well, friends, I am so VERY close, that I can almost feel the Spyder under me as I race down the road. But I really am going to need the help of just 2 people to put me over the top with this thing.

I have an auction up at ebay right now. If ANYBODY would like to help me out in getting my Spyder, AND get a really, really nice little "collectors' item" vehicle in the bargain, please go to my auction:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=320280045230&ssPageName=STRK:MESE:IT&ih=011

I really am NOT a person to push like this on anothers forum, or even any of MY forums, but I am just WAY TOO CLOSE to lose the Spyder SE5 that I've had on order since last year. Again, if anybody can help me out, I would be far more grateful than you could ever imagine.

Derwin

[COSpyder]

I can't buy one of these but it sure looks cool! In Colorado, you would need insurance as you can't get a registration for anything over 50cc's without at least liability insurance. Good luck with your auction.

[Zerocool]

I want one :-) Gotta convince the wife we could use an around-town scooter.

[Derwin]

I want one :-) Gotta convince the wife we could use an around-town scooter.

Wow! That is fantastic! Now I just hope you do a good job of convincing! :pray:

If you have ANY questions, or want to contact me for any reason, just give me a call at 815-315-0321. Thanks.

Derwin

[Director]

Yes. I DID order the Corbin bags. I even spoke with a woman over there to verify the order. I gave my credit card information, but they never charged anything. I just assumed they would not charge my card until the order was ready to ship, which is normal with most companies. Anyway, that order has now been canceled.

Well, my time here has indeed been enjoyable. No, I'm NOT going to make ANOTHER departure speech. I think everybody's getting extremely tired of hearing that from me!

Anyway, I'm gonna sit back and relax now. Enjoy the weather. Practice working on my golf game. Try to take in nature while I'm out fishing. Basically not be concerned about this dang Spyder anymore.

Hopefully I'll be back next year, bigger, stronger, better than ever, and with a brand new Spyder SE5 in my driveway.

God Bless.

Derwin

Good luck with all your ventures Derwin. Hope to see you back, bro.

Best regards,

Bruce

[Derwin]

Good luck with all your ventures Derwin. Hope to see you back, bro.

Best regards,

Bruce

Well, I pretty much gave-up on getting my Spyder when I posted that. But then I began thinking that I am so very close, that I just had to at least TRY to scratch up the remaining $6,000. Heck, I have $10,000 cash in my hand now, so all I have to do is sell 2 of those new vehicles, and I'll have the rest of the money. Then I can call the dealer and tell him I have the full amount to pick up my SE5. That would be a "dream-come-true" for me, and an end to this drama!

Derwin

[aubierules]

Well, I pretty much gave-up on getting my Spyder when I posted that. But then I began thinking that I am so very close, that I just had to at least TRY to scratch up the remaining $6,000. Heck, I have $10,000 cash in my hand now, so all I have to do is sell 2 of those new vehicles, and I'll have the rest of the money. Then I can call the dealer and tell him I have the full amount to pick up my SE5. That would be a "dream-come-true" for me, and an end to this drama!

Derwin


Heres a thought...sell some of the stuff u owe on....pay them off then try again

[Derwin]

Heres a thought...sell some of the stuff u owe on....pay them off then try again


Wow! Great advice! Thanks for that.

But the problem that I am having has NOTHING to do with what own and/or owe money on. I am not one to finance too many things. I like paying CASH. It's no different with the Spyder SE5 that I've had on order since last year. As I said earlier, I have $10,000 cash on hand, but need to scratch up the other $6,000 that I owe on it. This would be no problem at all normally for me, but I just made a huge purchase of vehicles for this new business that I started. So, in a way I AM taking your advice..... I'm trying to sell these vehicles in order to come up with the remaining amount. Can I count you in for one? ;)

Derwin

[aubierules]

Wow! Great advice! Thanks for that.

But the problem that I am having has NOTHING to do with what own and/or owe money on. I am not one to finance too many things. I like paying CASH. It's no different with the Spyder SE5 that I've had on order since last year. As I said earlier, I have $10,000 cash on hand, but need to scratch up the other $6,000 that I owe on it. This would be no problem at all normally for me, but I just made a huge purchase of vehicles for this new business that I started. So, in a way I AM taking your advice..... I'm trying to sell these vehicles in order to come up with the remaining amount. Can I count you in for one? ;)

Derwin

um nope...im too busy selling things to pay for MY se5:D

[bjt]

Frankly Derwin, I'm surprised that you haven't cancelled you're SE5 permanently (again) after reading Idleup's SE5 ride report (http://www.spyderlovers.com/forums/showthread.php?t=6216) post. :joke: :joke: :joke: :D :D :D






Just kidding bro. :doorag: I do hope it works out for you as you've been wanting a Spyder as much or more than anyone else here.

[Derwin]

Frankly Derwin, I'm surprised that you haven't cancelled you're SE5 permanently (again) after reading Idleup's SE5 ride report (http://www.spyderlovers.com/forums/showthread.php?t=6216) post. :joke: :joke: :joke: :D :D :D

Just kidding bro. :doorag: I do hope it works out for you as you've been wanting a Spyder as much or more than anyone else here.

Yeah, I did read his report, and it concerned me a LITTLE bit. But then I also read all of the comments from OTHER people that had different experiences on the SE5. At this point, I WILL NOT cancel my order. I will have to be taken down crying and scratching and clawing all the way. I do intend on going down in FLAMES if need be! I have been waiting way too long to give up on this now. By the way...... you interested in buying a VogueOne from me? :D I just have to sell 2 of them, and the Spyder will be mine! :thumbup:

Derwin

[bjt]

I would if I could but this economy has us watching our pennies. They do look interesting, not as interesting as that Venture machine on your site, but it would be a fun and ecological / economical way to tool around town.