Oh well..... - Kawasaki Versys Forum
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post #1 of 24 (permalink) Old 07-08-2008, 11:56 PM Thread Starter
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Oh well.....

Oh well, it was nice thinking about it while it lasted! It turns out I'm not going to be picking up my Versys anytime soon. In what can only be described as the most bungled vehicle purchase I've ever been exposed to or heard of, the dealer I was going to buy from has run off my co-signer (mom).

Oh sure, at my age my credit should be good enough, but a divorce has a way of wrecking one's credit rating. However, instead of riding off into the sunset on a new versys this week, after three weeks of calls and trips to the dealership, I have no bike and my co-signer now has a honda credit card with a $20K limit that neither she nor I wanted or can use (@26% interest I might add). We also have a nice credit line from Yamaha. But bungling the deal that badly turned my cosigner off to motorcycle dealers once and for all. Nice.

How a dealership can apply on my behalf for both Honda and Yamaha credit lines when I specifically told him I was interested in one bike and one bike only, the Versys, is beyond my imagination. All I can say is if you were thinking about buying from the dealership in Greenville, TX, don't walk away. RUN!

I will be lurking and reading in anticipation of when I can pay cash for my Versys. Can anyone say 2009? Seriously, I do appreciate all the technical advice and will try to put it to good use at some point in time.

Jeff
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post #2 of 24 (permalink) Old 07-09-2008, 07:44 AM
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Sorry it turned out like that.

When I bought my Versys, we had a minor problem. I wrote a check for half the drive away cost and the dealer put the whole price on the Kawasaki card. Then he did a return for half the amount and promised it would work out fine. I called to "activate" my Kawasaki card and they said the balance was the full purchase price. Anyway, they worked it out in the end. Sometimes I think motorcycle dealers are so excited talking about bikes that they don't listen to exactly what you want.

Not for nothing, but I have heard of people buying brand X with brand Y's card. Call Honda or Yamaha and see. I've also heard (through the internet) that you can get the special deals on other brand's bikes. It's worth a call or two.

Don
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post #3 of 24 (permalink) Old 07-09-2008, 08:11 AM
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dang Jef, that sucks guy. Really hope you get a way to get your hands on the V.

good luck

08' Diablo Black Kawasaki Verys
98' 3.0L V6 Colt Rodeo D/C (Engine rebuilt, Body lift, Monroe Shocks, 32" Wrangler MTR's, GME GX300)

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post #4 of 24 (permalink) Old 07-09-2008, 08:41 AM
 
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I've had some probs with my dealer too. I paid cash - as in a stack of $20 bills. When my title came back, it said that there was a lien from HSBC bank. I'm still waiting for my corrected title and a buddy of mine told me to check my credit report to make sure they didn't misuse my info to finance someone else's life. I checked and it there wasn't anything odd on it, but it did have me a bit worried.
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post #5 of 24 (permalink) Old 07-09-2008, 08:44 AM
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I told you to watch out for those guys, now go see Sammy White in Irving, and get the bike about $1k cheaper to boot.

Todd
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post #6 of 24 (permalink) Old 07-09-2008, 11:44 AM
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Ouf!
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post #7 of 24 (permalink) Old 07-09-2008, 01:18 PM
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Sorry it didn't work out for you and your Mom on this deal, but they actually did you a huge favor...

I'm an old fart, and have been around the block many times when it comes to negotiating for a variety of vehicles, from m/c up to 18 wheel over the highway trucks. One thing I learned many years ago: Never, ever, let the dealership arrange financing for you!

Go down to one of your local Credit Unions and open a small account. Put a couple of hundred bucks in it. When you find the bike you want, go down and talk with the person at the CU you have established a bit of a relationship with. They will more than likely be able to arrange financing on your bike with minimum hassle, considerably more friendly interest rates, etc...

Because motorcycles are a toy, they will not qualify for the lowest rates, even at a CU, but there will be a healthy difference in the TOTAL you will pay out over the term of the loan. They usually don't have the ridiculous penalties attached to the loan like the lines of credit used at dealers have. Miss or be late on one payment at a dealer, and you'll find that your interest rate skyrockets, and there may well be additional penalties attached as well. Stay away from Dealer/Manufacturer financing!!!

Don

"Living the Dream... One Day at a Time"

Last edited by dsmack; 07-09-2008 at 01:19 PM. Reason: typos
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post #8 of 24 (permalink) Old 07-09-2008, 03:22 PM Thread Starter
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I told you to watch out for those guys, now go see Sammy White in Irving, and get the bike about $1k cheaper to boot.

Todd
You're right, you did tell me. That's what I get! I think I have a remedy though.....I should know soon. Thanks again.

Jeff
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post #9 of 24 (permalink) Old 07-09-2008, 03:27 PM Thread Starter
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Sorry it didn't work out for you and your Mom on this deal, but they actually did you a huge favor...

I'm an old fart, and have been around the block many times when it comes to negotiating for a variety of vehicles, from m/c up to 18 wheel over the highway trucks. One thing I learned many years ago: Never, ever, let the dealership arrange financing for you!

Go down to one of your local Credit Unions and open a small account. Put a couple of hundred bucks in it. When you find the bike you want, go down and talk with the person at the CU you have established a bit of a relationship with. They will more than likely be able to arrange financing on your bike with minimum hassle, considerably more friendly interest rates, etc...

Because motorcycles are a toy, they will not qualify for the lowest rates, even at a CU, but there will be a healthy difference in the TOTAL you will pay out over the term of the loan. They usually don't have the ridiculous penalties attached to the loan like the lines of credit used at dealers have. Miss or be late on one payment at a dealer, and you'll find that your interest rate skyrockets, and there may well be additional penalties attached as well. Stay away from Dealer/Manufacturer financing!!!

Don
Thanks Don, you too are correct. I took your advice (sort of-I already belong to a CU). I think I'm good to go.....I should know soon. I appreciate the advice.

Jeff
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post #10 of 24 (permalink) Old 07-09-2008, 04:13 PM
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You're right, you did tell me. That's what I get! I think I have a remedy though.....I should know soon. Thanks again.
I tried to deal with them once, and I chose not to purchase there just because of all the BS they spouted. I felt like I was at the Bubba & Bubba Dealership with Dualing banjos playing in the background


Btw i am not far from you over in East Richardson

Todd
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post #11 of 24 (permalink) Old 07-09-2008, 05:11 PM
 
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Sorry to hear about your purchasing problems. I too made the mistake of financing my bike through the dealer, because I plan on paying it off in a couple of years or earlier and the 6% interest rate wasn't bad.

After a month or so I received my Plate from the dealer, a couple of weeks later I received another (different) plate from the DMV! Then a couple of weeks later I received THE TITLE!!!!!!!!!! clear with no Lien holder or anything on it but my name.:

Still wondering why, and if I should keep making PAYMENTS
any lawyers out there? Never heard of receiving the title before it's even paid for. Oh well, with my luck, I'd get thrown in jail or something.
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post #12 of 24 (permalink) Old 07-09-2008, 07:58 PM
 
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That sucks...

Sorry to hear about the financing problems. I go sign the papers on mine Friday, now you got me nervous. I hope it works out for you soon...
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post #13 of 24 (permalink) Old 07-09-2008, 08:27 PM
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Originally Posted by dsmack View Post

Because motorcycles are a toy, they will not qualify for the lowest rates, even at a CU, but there will be a healthy difference in the TOTAL you will pay out over the term of the loan. They usually don't have the ridiculous penalties attached to the loan like the lines of credit used at dealers have. Miss or be late on one payment at a dealer, and you'll find that your interest rate skyrockets, and there may well be additional penalties attached as well. Stay away from Dealer/Manufacturer financing!!!

Don
I don't know. Kawasaki's 6.99% APR is better than any bank would have given me, and I intend on paying it off in two years anyway. So far I've had no problems. Then again, I have a terrible credit score as I have zero credit cards and no mortgage payment.

If you were off buying a Honda, they had a 0% APR!!!!!! Too bad they have nothing worth buying right now :/
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post #14 of 24 (permalink) Old 07-10-2008, 09:19 PM Thread Starter
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Well, the planets aligned themselves after all and I've purchased my new V!! I may even get pick it up tomorrow. I'm not anticipating much sleep tonight... Thanks for all the encouragement from the group, it really picked me up when I was bummed. I plan to add this to my profile but here is what I'll have initially:

'08 Versys
Vario Windscreen
Two Bros. Carbon Fiber Slip-on Exhaust
Power Commander III
Cortech 10L Tank Bag
LoJack

Thanks again!

Jeff
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post #15 of 24 (permalink) Old 07-10-2008, 09:44 PM
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Let's hear it for planet alignment, yahoo! 'hope things come together nicely and you enjoy your V as much as I do mine.

A diamond is just a hunk of coal
that didn't quit under pressure
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post #16 of 24 (permalink) Old 07-10-2008, 09:55 PM
 
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Awesome, congratulations on your new bike.......
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post #17 of 24 (permalink) Old 07-10-2008, 11:18 PM
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Congrats!

Graham

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post #18 of 24 (permalink) Old 07-10-2008, 11:41 PM
 
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You're in for a fun day tomorrow!
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post #19 of 24 (permalink) Old 07-10-2008, 11:43 PM
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Awesome. Glad to see that you've got the bike. You're gonna be like a kid on Christmas eve tonight. No sleep at all.

Congrats on the bike. I bet you'll love it.
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post #20 of 24 (permalink) Old 07-11-2008, 04:09 AM
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Congrats guy! that is very good news

I have to wait another week, mine is only coming in next week Friday and I'm already loosing sleep about it.... but it is on it's way!

08' Diablo Black Kawasaki Verys
98' 3.0L V6 Colt Rodeo D/C (Engine rebuilt, Body lift, Monroe Shocks, 32" Wrangler MTR's, GME GX300)

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