YAMAHA FINANCING

[2kwik4u]

View attachment 152075

That guys a putz IMO.

Has no consideration for the monetary value of time. Kids are only young once, not going to miss out on sharing my time and passion with them just to have a clean balance sheet.

 

[obrien19]

They even stated that anything above minimum payment goes to principle, so I think mine is right. Time will tell

You will want to read the fine print on your statement.

"Unless you advise otherwise, any amount remaining from any payment by you (after payment of past due and currently due fees, interest and principal) will be applied to your next scheduled payment until such next scheduled payment is satisfied in full; thereafter any remaining amount will be applied as a principal reduction on your account"

This was a monthly struggle with them. I was paying an extra $100 a month for 6 months, didn't realize it, and they weren't actually applying it to my next month payment till I called them and complained, then I started to see my "payment due" gradually decrease on my statements. Their CSR stated this was because I never told them what to do with the extra payment.

 

[Quad]

That guys a putz IMO.

Has no consideration for the monetary value of time. Kids are only young once, not going to miss out on sharing my time and passion with them just to have a clean balance sheet.

I have mixed feelings about him. His principles helped me out at a particular point in my life (read: college student who was head-smart but money-dumb).

My philosophy now doesn't quite align with his; debt is leveraged strategically (with contingency plans) and only for assets, never for "operational" expenses.

 

[Yambers]

You will want to read the fine print on your statement.

"Unless you advise otherwise, any amount remaining from any payment by you (after payment of past due and currently due fees, interest and principal) will be applied to your next scheduled payment until such next scheduled payment is satisfied in full; thereafter any remaining amount will be applied as a principal reduction on your account"

This was a monthly struggle with them. I was paying an extra $100 a month for 6 months, didn't realize it, and they weren't actually applying it to my next month payment till I called them and complained, then I started to see my "payment due" gradually decrease on my statements. Their CSR stated this was because I never told them what to do with the extra payment.

I will check that, but she specifically stated anything over will go to principle. As of yesterday they only had 1 payment fully processed, so I will be monitoring closely for accuracy. There website and timelines suck. Payments and transactions are slow to be updated.

I appreciate the information.

 

[Yamahaul]

I just noticed also that my autodraft skipped 2 months. ? calling now. so after not drafting autopay because no payment was due i now just paid all interest for those 2 months i didnt pay. the girl on the phone just now said for autopay just do the minimum. go online and pay manually for extra payment. keep in mind you are paying interest everyday if it skips a month with no payment due. also CALL for large principle payment. payments over minimum due go towards next month payment on autodraft and there was no payment due, yet interest still accrues. same as up there ?

she also said if you want to make principle payment do so 4 days after autodraft of the minimum due, go online and pay the per DM interest amount for those 4 days plus the additional principle you to pay and it will go towards the principle. i wish i paid more attention in school.

or just call and they can explain. I think i have a general idea now of how it works now.

 

[Yambers]

I just checked my latest statement and my last payment only applied $10.00 to my principal. I am on hold now. Estimated hold time is 25 minutes. ugh. This has to have something to do with the "No Payments for 90 Days" promotion I got. I have to be paying that deferred interest back first. Dealer was no help on this either. "We just write the contracts" is what they stated. I looked at all my paperwork and I couldn't find anything that looked off. this is ridiculous.

Update*****. Just got off the phone. Apparently during the 90 days of no payments, interest still accrues. I understand that. What I wasn't aware of was that you had to pay that interest by a certain date, or it would be taken from your first few payments. Since I have only made 2 payments, I was just catching up. I was assured my payments and interest would be split next month, but they stated that if there were still issues I need to contact my dealer, who told me to contact Yamaha, who referred me back to my dealer, who will tell me to call Yamaha.

 

[malmana]

I purchased/financed in March and received the 90 day no payment promotion. My monthly payment will remain the same throughout the loan however it will take a few months for the amount going to principle vs interest to catch up. The reason is you are paying for those first three months of interest. Once this catches up you will see a different ratio.

 

[F.M.]

It's also a good idea to make bi-weekly payments instead of monthly. It will reduce the amount of interest you pay over the life of the loan and reduce the term of the loan as well.