Do you finance your sled or pay up front?
- Thread starter BigMan
- Start date
Paid cash that's the only way to do it in my book
Never buy toys on time!
I do buy a lot of parts on time though
I bought my first new sled with moms help at twelve. All my farming money and mowing money. I traded that when I saved up again for a formula 500
Gradually worked my way up the ladder trade by trade. So buying a new sled was never more than five grand.
Wait I take that back, I paid straight up for a 2008 xp 7900 bux . Sold it for 7200 and the 09 was a bit more pricy. But not like starting over pricy
I do buy a lot of parts on time though
I bought my first new sled with moms help at twelve. All my farming money and mowing money. I traded that when I saved up again for a formula 500
Gradually worked my way up the ladder trade by trade. So buying a new sled was never more than five grand.
Wait I take that back, I paid straight up for a 2008 xp 7900 bux . Sold it for 7200 and the 09 was a bit more pricy. But not like starting over pricy
If I were to start from scratch now I guess I'd find a good used 2010 ish sled. Then set it up with some aftermarket stuff that might help it retain the same value as I paid for a couple years till I saved up for something newer yet and repeat
My take on it is if you qualify for a good loan and payments are not difficult for you to come up with it can be a reasonable route to take. For example, the local credit union has recreational vehicle loans at 2.65% for 36months and pays 3.00% on checking accounts up to 15k. That's cheap money if you have good credit. Sure cash is king but if you're responsible about it I don't see any issues with it. Someone on here gave the advice to only finance one thing (other than home) at a time.
I think the guys that are paying on loans are going to be less likely to reply.
However, I can tell you that my last three Polaris sleds have been purchased on their financing because the zero interest and it's free money(take that guys paying cash!). I usually pay them off after the first year or sell them so I can do it over again next year!
However, I can tell you that my last three Polaris sleds have been purchased on their financing because the zero interest and it's free money(take that guys paying cash!). I usually pay them off after the first year or sell them so I can do it over again next year!
People that pay cash for 12-14k sleds instead of financing at 0% are throwing away money. The math never lies. I think depending on market returns for your chosen investment you could probably even make money financing up to a rate of 2 or 3% or at the very least break even letting your investment pay the financing.
Let your money make money for you and pay as little as you can for your toys. They have horrible depreciation.
Let your money make money for you and pay as little as you can for your toys. They have horrible depreciation.
S
snowmobiler
Well-known member
My Gramma says charge it if your not a richy.
Don't all four makes provide this (with good credit)? They almost have to.
My Duramax is 0% financing too. I would never pay an extra dime on that. If I had all the money to pay it off plus another million, I still wouldn't pay it off. Let somebody else's coin pay the interest!
when I wanted to charge my sled I could not find the plug in...???
Financing my '14.
So if you had the money to pay off your 0% debt you wouldn't? Freeing up a 500 or so monthly payment would allow me to pay off my house that much quicker. Feeing up debt gives me more money everg month to work with. Some day all you have left to pay for is taxes utilities and insurance if you free up enough debt.
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C'mon man. Why pay off that 0% car or snowmobile when you can just add that money to an extra house payment. Do you realize how much that knocks off of your house? Depending on how much you pay in interest on your mortgage, it could be huge!
I agree..if ya got the cash to eliminate a 14000 dollars zero percent debt its much wiser to throw that money at a interest bearing debt..
Bingo. I'll be financing a portion of a sled this season. BRKB is up 33.8%this year
. It goes against my Midwest upbringing but when I take the knee-jerk reaction out of the equation and consider the math it's not so bad. At one motor a season on my RMK I'm already paying the same as buying a new sled, but now I'll have a warranty and some resale value.I work for a credit union. With my employee discount my 12 pro is financed at 0.24% The payment is ahead of depreciation. I have no desire to pay it off. Using my cash on other things. Worse case scenario I could unload it tomorrow for what I owe on it. Just my 2 cents
Because most people don't have this much money that they can just plunk down that much on their house or the vehicle. But in case your really really wealthy than it doesn't really matter. But most of us have to budget our money. And if I can pay off something that takes 500 dollars out of my budget every month or more then I can move that money to the next debt. It builds momentum and motivates you to pay off more. But if you plunk the entire amount on your mortgage you still owe on your truck and your house and you may get discouraged long term. My interest rate on my house is 3.5%. I start making a $500 dollar extra principle payment every month that will make a difference as well.
My points is that is is hard to build wealth when you have so much cash going out per month to payments. 0% is pretty uncommon now days for a long term truck payment. I've seen it for 6 months or so to suck you in but that is about it.
