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[| CapoArgentino |]
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23 Posts
Discussion Starter · #1 ·
I purchased my 07 R6 new back in August 07. Been making the minimum payment of $100 since then. Been late on payment maybe twice by a few days since I started. THIS is what I owe them today and when I will be done If I keep sending the minimum:



Its so frustrating having to see this every month. My bike has 20K miles now too.

Extremely big mistake on my part. I should have first of all say NO to a credit line, because this is what this is, it is not a loan, its a credit card. Second, I should have sent $500 payments from the start. But oh well Im not the only one. Tons of complaints on HSBC+Yamaha Motor online.

I love my R6 and Yamaha but I should have gotten a CBR. I never had any issues with American Honda Finance CO. :thumbdown
 

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2,249 Posts
you really didnt think that you could buy a brand new bike and only pay 100 a month and have it paid off in a timely manner did ya?
 

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Stunt Rider
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7,982 Posts
Haha! Time to get full coverage and insurance scam that piece.

I'm not saying I've done it before and got away with it. It's just an option.
 

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[| CapoArgentino |]
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23 Posts
Discussion Starter · #4 ·
Like I said, My mistake. I also left out the fact the HSCB charged me TWICE by accident. Yes, when I went to make my first payment, my statement showed 2 purchases for 13K, totaling 26K and going over the limit 13K.
 

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Just another r6'er
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955 Posts
lol, here the maximum is three years (for me at least) and they are more expensive as i'm in canada. Did you not get an open contract?
 

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[| CapoArgentino |]
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23 Posts
Discussion Starter · #6 ·
Haha! Time to get full coverage and insurance scam that piece.

I'm not saying I've done it before and got away with it. It's just an option.
Or sell it to some dude in Rosarito :) I had pondered many ideas. Gotta solve this sht
 

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[| CapoArgentino |]
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23 Posts
Discussion Starter · #8 ·
Its just BS that you don't know its a Credit Card and not a Loan until its too late. I know I made mistakes but HSBC is still shady in their practices. Read the reports.
 

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Sex and Bikes Go Together
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1,222 Posts
I didnt even think you could get a loan on a bike beyond 3-4 years. Whats the interest rate? Looks kinda high.
 

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Premium Member
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17,965 Posts
That sucks... But yea, your interest is probably more than the min payment lol....

I wouldn't pick my bike based on which bank I liked more either, just get a personal loan or something in the future...
 

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Sex and Bikes Go Together
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1,222 Posts
I got my loan through USAA 5% interest will be done paying mine in a year or 2
 

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Sex and Bikes Go Together
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1,222 Posts
That sucks... But yea, your interest is probably more than the min payment lol....

I wouldn't pick my bike based on which bank I liked more either, just get a personal loan or something in the future...
+1000 I had my financing ready before I even went in. How is that 4.9%....sounds like more...actually sounds or looks like credit card interest
 

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[| CapoArgentino |]
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23 Posts
Discussion Starter · #17 ·
That sucks... But yea, your interest is probably more than the min payment lol....

I wouldn't pick my bike based on which bank I liked more either, just get a personal loan or something in the future...
Yeah, def a personal loan. Outn of my $100 I pay, $85 go to interest.
 

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[| CapoArgentino |]
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23 Posts
Discussion Starter · #18 ·
+1000 I had my financing ready before I even went in. How is that 4.9%....sounds like more...actually sounds or looks like credit card interest
Thats cause it is a credit card. I wish I knew.
 

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[| CapoArgentino |]
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23 Posts
Discussion Starter · #20 ·
Local Bank. My payment was 145 bucks a month, and I paid extra each payment to knock off some interest
Yup there you go. Should have done that. Right now Im going to make $400 payments until I get to $8K payoff. Then I will refinance through a bank.
 
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