? for those who did SnowCheck 0/0 financing

GMCRMK · Oct 21, 2010

I haven't signed the paperwork yet. How big of a magnifying glass will I need for the fine print? I'm preapproved and am only considering it for the "0 payments 0 interest for 12mos" offer. I plan on paying it off on the 11th month and it seems like a no brainier but I've heard mixed (ok, bad) things about the banks behind Pol's StarCard.

So, what's the best strategy to actually get 0/0 and avoid any fees or interest? What's everyone else doing? Also, my sales guy said I need to pay 1% each month ?? Doesn't sound like 0/0 to me.

unpride · Oct 21, 2010

0% financing for a year WITH payments.

GMCRMK · Oct 21, 2010

unpride said:
0% financing for a year WITH payments.

Guess that explains the 1%. No biggee. I got the snowcheck from an individual so I missed out on the full pitch during the snowcheck period.

crf118r · Oct 21, 2010

GMCRMK said:
Guess that explains the 1%. No biggee. I got the snowcheck from an individual so I missed out on the full pitch during the snowcheck period.

I was going to do the same until he told me my "payment" would be $169/ month. I wrote a them a check. Not really 0/0 in my book. If you miss a payment the interest compounds. Not cool.

I didn't get the full pitch either and I snowchecked it.

AK800VE · Oct 21, 2010

crf118r said:
I was going to do the same until he told me my "payment" would be $169/ month. I wrote a them a check. Not really 0/0 in my book. If you miss a payment the interest compounds. Not cool.

I didn't get the full pitch either and I snowchecked it.

even tho there is a mininum payment of 169, if you financed the whole at 7% for 3 yrs, which is a pretty good rate on a snowmachine, your payment would be 339 a month

If you stick with the polaris deal, set up auto pay so you dont miss a payment and pay there mininum of 169 for 11 months, thats 1859 to PRINCIPLE. then at the 11th month, get your own financing at lets say you get the same deal of 7% for 36 months, now your payment is 282 a month plus the money you will save in interest for financing less money

AndrettiDog · Oct 21, 2010

It's "free" money. That is you get to use someone elses money and it doesn't cost you anything (there might be some small paperwork fee). So, if you take their deal and make the payment on time, it keeps you from paying some bank some interest.

I did it and will pay the sled off in January. I can't pull the money out of the bank yet or I take a hit, so this will get me over until I can pull the money.

Snow Snake · Oct 21, 2010

0/0

According to my dealer the government will not allow 0 dollars for the year. You have to pay at least 1 % of the balance monthly and to get the 0% you have to have the Polaris credit card paid in full before the year is up or you will pay something like 18% on the starting balance.
So if you don’t have it paid off in a year you need to find a place to loan the money at a lower intrest rate instead of using Polaris’s credit card.

crf118r · Oct 21, 2010

AK800VE said:
even tho there is a mininum payment of 169, if you financed the whole at 7% for 3 yrs, which is a pretty good rate on a snowmachine, your payment would be 339 a month

If you stick with the polaris deal, set up auto pay so you dont miss a payment and pay there mininum of 169 for 11 months, thats 1859 to PRINCIPLE. then at the 11th month, get your own financing at lets say you get the same deal of 7% for 36 months, now your payment is 282 a month plus the money you will save in interest for financing less money

I HATE payments. I'm lucky I guess that I was able to pay for it outright. I do think it's a good deal, the payment thing just bugged me. I didn't know that was part of the 0/0 deal, but I get it.

crf118r · Oct 21, 2010

I need to clarify what type of payments I HATE. Not the kind being made to me :face-icon-small-win, so if anyone needs a sweet deal on an 08 D8, I will gladly take your payments! :face-icon-small-coo

AK800VE · Oct 21, 2010

crf118r said:
I HATE payments. I'm lucky I guess that I was able to pay for it outright. I do think it's a good deal, the payment thing just bugged me. I didn't know that was part of the 0/0 deal, but I get it.

yea that is lucky...I had the money to pay cash, but I decided I want twins for cummins more lol

AK800VE · Oct 21, 2010

just got my app processed, my min payment is $110 a month

xcrash911 · Oct 21, 2010

crf118r said:
I need to clarify what type of payments I HATE. Not the kind being made to me :face-icon-small-win, so if anyone needs a sweet deal on an 08 D8, I will gladly take your payments! :face-icon-small-coo

I'll make ya payments on that sled, how about $50 bux a month and I'll pick it up tomorrow :face-icon-small-ton

Snodawg · Oct 21, 2010

If your gonna do the monthly payments, get it on auto pay then throw in extra cash every month. Figure if you pay the $110/mo on auto pay then if you can swing it, another $300 cash/mo, that comes out to $4920 paid on your $11000 sled. Now you have a one year old sled that needs to be refinanced with a balance of around $6000.

crf118r · Oct 21, 2010

xcrash911 said:
I'll make ya payments on that sled, how about $50 bux a month and I'll pick it up tomorrow :face-icon-small-ton

Funny. I shoulda known I'd get a wise guy responder! Pick up after pay-off.

puckster · Oct 21, 2010

I put down 1500 and got 3.69% financing through my bank, payments are 217 a month and no penalty for early payoff.....I didn't think you could beat that deal!

JohnnyH · Oct 21, 2010

crf118r said:
I didn't get the full pitch either and I snowchecked it.

Me either

GMCRMK said:
Guess that explains the 1%. No biggee. I got the snowcheck from an individual so I missed out on the full pitch during the snowcheck period.

Sorry:face-icon-small-fro

m1kflyingtiger · Oct 23, 2010

AK800VE said:
yea that is lucky...I had the money to pay cash, but I decided I want twins for cummins more lol

I think it was a good call nick! that second turbo was defiantly a necessary upgrade.

verticalman · Oct 24, 2010

You have to pay 1% of the balance these days, (I think its a new law now). I only financed 4,700 and my monthly payment is $49. I dont think there is such a think as no payments anymore if you finance something!

proride155 · Nov 5, 2010

i think its a good idea to have to pay something, look at the kids buying quads and making the minumum payments. after 4 years at 69 a month they owe more than they did they day they bought it!

? for those who did SnowCheck 0/0 financing

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