Yamaha financing though GE Capital bank

[Aaron]

Has anyone been able to set up making payments online? I really hope we can do this because I HATE sending in a check each month...id rather set up online payments.
Anyone else have financing through them?

 

[drjames1107]

I used to have it with last boat. I have Bank of America and it was easy to set up through the Bill pay option. You need the zip code where you send the payment to. Current boat through Energy Direct CU and I do the same thing pay through bank of America Bill pay.

 

[Murf'n'surf]

GE Capital does NOT have online payment for the Yamaha financing. You can pay by phone for a $10 or $15 fee!!

 

[drjames1107]

Or you can send the payment through your Bank Like I did.

 

[Aaron]

GE Capital does NOT have online payment for the Yamaha financing. You can pay by phone for a $10 or $15 fee!!

That is really unfortunate and pretty depressing! What an out dated disappointment!

 

[Noko]

GE had an auto pay form that I got when I bought my boat this Jan. I don't know about online payment yet because I have just made my first payment this April.

 

[Aaron]

yeah you can set up an auto payment...but I hate that! I work on commission so my checks don't always come in at the same time...I keep a healthy amount in my account but still I would love to just make the payment on my own schedule. Ugh.

 

[bobbie]

to add insult to injury, you also have to send a principal payment to a completely different address! Amazing in this day and age. if you google ge capital there are plenty of horror stories if you are late with payments.

 

[drjames1107]

on Bank of America its not auto pay. You set up a company you want to pay, and can pay any day you want. some companies receive the money faster than others but GE Capital was a 1 day receiver. so if its due on the 20th, you can pay and day before the 19th and it will arrive on time. I pay all my bills this way save a lot of stamps and you can hold your money till the lat minute!

 

[Murf'n'surf]

What I did was overpay each month. After a while my next payment wasn't due for 4 months. That gave me a cushion to never be late.

 

[Aaron]

on Bank of America its not auto pay. You set up a company you want to pay, and can pay any day you want. some companies receive the money faster than others but GE Capital was a 1 day receiver. so if its due on the 20th, you can pay and day before the 19th and it will arrive on time. I pay all my bills this way save a lot of stamps and you can hold your money till the lat minute!

Oh I got you. I know what you are talking about. Thats not a bad idea.

 

[drjames1107]

Great! yea just set up Bill Pay Aaron. And Like Murf does I try to pay a little extra each time, that way come Christmas I get to skip a payment.

 

[10-8]

I set up autopay with GE from the first month when we bought our boat last summer. Had to fill out a form from them and send in. No big deal. was able to get the 1.9% so the payment is pretty much principal anyway.

 

[Gthunter5]

Bofa bill pay is the way to go

 

[10-8]

Bofa bill pay is the way to go

That would depend on each persons own financial situation as there is no best way for everyone. I have also used BofA bill pay, and there was a couple of times payments were not received as some vendors are paid by paper check that has to be sent by mail. I no longer use any third parties for payments of any kind as most everyone can now be paid either directly on their own site or by automatic payment.

 

[Jim Cosler]

For what it is worth, my boat is financed through GE. In my dealings with the company, they seem to be really disorganized. Don't know if they are still picking up the pieces from the financial collapse or what... Couple months ago I got a call from the dealership I bought my boat from, they are in Indianapolis and I live in Chicago..anyway, GE was looking for contact info for me, wtf???..9 months into my loan and they don't know how to get in touch with me?

That said, I set up my payments through my bank's online bill pay, haven't had a problem.

As for those of you who are making additional payments, you better make sure those are going to toward the future months scheduled payments. I pay additional each month as well and they knock it off the principal, just like I want them too. I would be real careful assuming that additional monies are going toward next months payments. Could be you are now behind on your loan as they may have knocked it off the principal. The stub on the billing statements I receive do not have an area to mark how they should use additional funds, and that could really trip things up.

 

[steined]

@bobbie - Holy crap these guys are impossible to get a straight answer out of.

If you are over paying, it looks like you are doing no good vs sending that overage to the payoff address. Of course the lady on the phone was trying to make it sound like it wasn't much different, but it is as far as I can tell. I don't have a payment due until next year as a result. What a crock of shit! Anyone else have a simpler explanation? Basically pay the minimum to the Atalanta address and the rest to Kettering, OH address?

 

[Jim Cosler]

Hmm, I looked up my online bill pay address for GE and it just lists as "on file", meaning my bank has a direct relationship with GE. At any rate, when I send in extra each month (without a stub), they keep deducting it from my principal. I keep a sharp eye on it to make sure every time I receive the next bill.

And yes, they are a bunch of idiots there...

 

[Zarrella]

Funny I have used GE Capital a bunch of times for the zero percent interest deals and have never had a single problem. I guess I have been lucky

 

[Topper232]

I also have GE capital and use Navy Federal credit union to pay this and all of my bills through them. I also virtually double pay each month which is cutting my loan length in half and shows that a payment is not due for another 7 years. Should be paid off next year sometime.