BRP SPRING PROMOTION

[Daisyjoe]

I saw the ad concerning the spring promotion, but I cannot read the fine print on any of the sites. I would really be interested in finding out the details on getting an STS for $249/month. Has anyone read the fine print? If so, please shoot me some details. Thanks.

 

[Bob Denman]

I've not seen it; my gut would tell me that it's probably a matter of signing over an inordinate amount of your life's savings as a down payment, and then having a payment book that's thick enough to make "War And Peace" seem like light reading...:shocked:
But I'll look for it!:thumbup:

 

[billybovine]

Here it is.


©2013 Bombardier Recreational Products Inc. (BRP). All rights reserved. ®,
™ and the BRP logo are trademarks of BRP or its affiliates. In the U.S.A., products are distributed by BRP US Inc. Offers valid in U.S.A. only from February 1, 2013 to April 30, 2013. The terms and
conditions may vary from state to state and the promotion is subject to termination or change at any time without notice. ◊
LOW MONTHLY PAYMENT OPTION: Eligible units are new and unused 2011, 2012 and 2013 Can-Am Spyder roadsters. On a purchase where the amount
financed is $12,749, your down payment is $4,250 with 84 monthly payments of $198.07 each (excludes delivery charge, taxes and registration fees). Annual percentage rate is 7.9%. On a purchase where the amount financed is $15,999, your down payment is $4,100
with 84 monthly payments of $248.57 each (excludes delivery charge, taxes and registration fees). Annual percentage rate is 7.9%. On a purchase where the amount financed is $19,199, your down payment is $3,300 with 84 monthly payments of $298.28 each (excludes
delivery charge, taxes and registration fees). Annual percentage rate is 7.9%. Offered by Sheffield Financial, a Division of BB&T Financial, FSB. Minimum amount financed: $1,500; maximum amount financed: $50,000. Subject to credit approval. Down payments may
vary. Approval, and any rates and terms provided, are based on credit worthiness. Other financing offers available. Other conditions and some restrictions may apply. Financing promotion void where prohibited by law. BRP is not responsible for any errors, changes or actions
related to the financing provided by Sheffield Financial. See an authorized BRP dealer for details. †
Savings of $2000 on Spyder RT: Rebate applicable to new and unused 2011 and 2012 Can-Am Spyder RT models. ‡
Savings of $1000 on Spyder RS: Rebate applicable to
new and unused 2011 and 2012 Can-Am Spyder RS models. See an authorized BRP dealer for details. Some models depicted may include optional equipment. Always ride responsibly and safely. Always observe applicable local laws and regulations. Don’t drink and drive.

 

[ARtraveler]

Here it is. The $249 a month payment deal. A thick payment book and a big down payment.

A $4100 down payment and 84 convenient monthly payments. Interest rate quoted at 7.9%. I got this off my dealer's web site under BRP promotions.

Post #3 beat me to the fine print--I could not get the whole deal to transfer over.

I would suggest shopping around locally for a better deal. The 7.9% seems high--and the down payment is also pretty hefty. EG: I got mine locally last year for 4.25%

 

[Wazoo]

Rebates

and notice the rebates only apply to 2011 and 2012 models and not to STs

 

[Ga Blue Knight]

Right now my Credit Union is running a vehicle loan sale with financing at 2.5% for 72 months! So I would defiently shop around for credit!

 

[Sarge707]

In OCT 2012 BRP and sheffield had a 3 year 3.9% rate I bought the RT with. I would NEVER pay 7.9% ????
The Fall specials may be Real Good- it ALL depends on sales!

 

[bullant12]

In OCT 2012 BRP and sheffield had a 3 year 3.9% rate I bought the RT with. I would NEVER pay 7.9% ????
The Fall specials may be Real Good- it ALL depends on sales!

End of the season sales you get the best deals... that is when the dealers want to make room for the new season!

 

[Fusionfool]

In OCT 2012 BRP and sheffield had a 3 year 3.9% rate I bought the RT with. I would NEVER pay 7.9% ????
The Fall specials may be Real Good- it ALL depends on sales!

1.49% is what they were offering us back in the fall time for boats, motorcycles, RV's, we had everything we wanted so no need to take a loan, but 7.9 is NOT a good deal. If a persons credit is bad enough they can't beat 4.0 they probably should not be purchasing a bike!

 

[Spyder_Cowgirl]

October Deals

In OCT 2012 BRP and sheffield had a 3 year 3.9% rate I bought the RT with. I would NEVER pay 7.9% ????
The Fall specials may be Real Good- it ALL depends on sales!

When spydercowboy and I bought our 2012 RT Limited, there was also an option to do 60 months as 0% interest -- took NO TIME to make that decision!

Best Regrads .... Ann

 

[daveinva]

7.9% interest is steep, but not unheard of.

84 months of payment, however, is insane.

84 months. EIGHTY. FOUR. MONTHS.

:yikes:

To put this in perspective: the first owners of the 2008 Spyder GS would still have another year and a half of payments to make.

Obviously, an owner can always pay off a loan early. And that price point may be enough to get someone into owning a Spyder sooner rather than later. I did that with a 5 year loan in 2011 that I've prepaid enough to have my bike free-and-clear by the end of *this* year. I'm already planning to save enough for my *next* Spyder, if and when I buy it, to be in cash, or at most a 36 month loan.

Thus, the thought of anyone buying a Spyder under a loan like that makes my stomach queasy. It's a toy**, after all, and going that much into debt, for that long a time, over a toy is, well... their priorities are askew.

** Full disclosure: my Spyder actually is my daily driver, so from a practical standpoint I could justify spending more on it seeing as it's not (just) a toy to me. But I wouldn't buy *a car* at that rate or term, I sure as heck ain't buying a bike at that. :shocked:

 

[Bazeel]

Luckily, My wife and I had more than enough funds saved up to purchase our RT-S outright, however we took a 1.15% secured loan out of our Credit Union to help build more credit- Have you looked around at what your local banks may offer, in terms of financing?

 

[ARtraveler]

Additional: Dealer offered financiang is real good or real bad--you just have to read the fine print. Those deals where you get little to no interest (2% or less) are very good for :spyder2: purchases. If you finance a lot of $ on the purchase, the interest adds up quite fast.

Motorcycles usually cost more to finance than a similar loan for a car. Don't know why--but it seems to be a pattern.

When I was on two wheels, I got the last couple Kawi's for no interest if they were paid off in 24 months. I used their money for the 24 months and paid the loans off the last month--so able to finance the package for 0 interest.

Looking around, is the best advice. I always check the market before any purchase where I am going to make payments. I come prepared with my lenders "best" rate for me, and then compare it to what the dealer is offering. There is a thing going on when the dealer does the financing--I believe its called dealer reserve. It goes like this. Bank has a rate for the dealer at 3%. Dealer tells you the financing rate is 5%. You say okay. The bank pays the dealer the difference between the 3% and the 5%. This is like a bonus to the dealer for getting the financing processed. You pay the full rate back to the bank. The dealer and the bank make an extra 2% on the deal, and you pay.

 

[donec]

At 84 months some of us older people may not live long enough to pay it off.:yikes: So the interest rate wouldn't matter.:joke:

 

[Buttsy]

At 84 months some of us older people may not live long enough to pay it off.:yikes: So the interest rate wouldn't matter.:joke:

Always two ways to look at it, isn't there? :roflblack: :roflblack:

 

[ARtraveler]

At 84 months some of us older people may not live long enough to pay it off.

So the interest rate wouldn't matter.

Always two ways to look at it, isn't there? :roflblack: :roflblack:

Did that with my house three years ago. 30 years from now, not sure where I will be.

Also the same reason I don't buy extended warranties or credit life insurance. On credit life, I always tell them--that's your problem if I die--not mine. :roflblack::roflblack:​

 

[Tanshanomi]

Just checked with my local bank. If I agree to set up automatic payment withdrawal from my checking account, I can currently get a motorcycle loan for 5.15%.
It definitely pays not to jump at the first deal they show you.

 

[Sarge707]

At 84 months some of us older people may not live long enough to pay it off.:yikes: So the interest rate wouldn't matter.:joke:



Did that with my house three years ago. 30 years from now, not sure where I will be.

Also the same reason I don't buy extended warranties or credit life insurance. On credit life, I always tell them--that's your problem if I die--not mine. :roflblack::roflblack:​

Refinanced my house for 30 Years in January to save $140 a month BUT never expect to have a Mortgage Burning party when I,m 94??
But you never know ?:yikes:

 

[Daisyjoe]

I did some checking around. The best rate was 3% / 60 mos, thru a credit union. I am searching for a 2012 RT, SE. I want to take advantage of the $2000 deduction. Got a quote on a 2013 RT, SE5--$25,500 (Everything--Out the door price) Thanks everyone for the input.

 

[ARtraveler]

I did some checking around. The best rate was 3% / 60 mos, thru a credit union. I am searching for a 2012 RT, SE. I want to take advantage of the $2000 deduction. Got a quote on a 2013 RT, SE5--$25,500 (Everything--Out the door price) Thanks everyone for the input.

Good luck on your hunt. Sounds like you have good financing pending. Let us know when you bite the bullet. :thumbup: