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I was wondering what you people think; should I go with my bank or with Suzuki to finance my upcoming purchase of a Burgman. I'll have a considerable amount for down payment so what I'll owe will be less.

Just wondering what your experiences and tips are.

I'm a very big newbie when it comes to acquiring a new vehicle. :wink:
 

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Hi Halshak!
When I purchased my Burg Suzuki were offering a 4.8% rate. They actually finance using the Laurentian Bank of Canada. I went with them because no 1 else was offering rates that low. So I suggest you check out what the interest rates are with any institution you deal with.
 

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Financing

Many interest calculators on the net. Figure the rate and term, and the method used for calculation, go with the one that saves you the most. Credit unions are the best.
 

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Right now (mid-Feb. 2004), don't expect any good financing deals from Suzuki. Just scored two Burg 400s, and the best thing Suzuki Finance had going was nearly 10 percent interest for 48 months! Gaaah! Quickly, to my friendly local bank!
 

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Finance what's that, I paid cash. I have no desire to give the bank any more money on a loan, maybe if it was 0% I would.
 

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Right now Suzuki Canada is offering 4.8% for two years of financing for bikes purchased before the end of April/04. However there are a couple of catches. The minimum amoratization they will accept is 36 months. This means at the end of the first 2 years your loan will go to whatever the current interest rate is or you can buy out the remaining cost of the bike - around 60% of it's purchase price. In addition there are 'finance' charges that get tacked onto the loan - around $300 I believe. My Suzuki dealer wasn't even recommending I take it - shop around and get a better deal elsewhere was his recommendation.
 

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Finance

I put my 650 on a credit card 0% for one year. Granted my payments are about $600 a month but I figured it was "free" money. Besides there is something special about paying the bike off in a year or less.

Ed
 
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