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What kind of financing rates is Honda offering on the Grom. Anyone have any luck getting any sort of discounts or incentives?
 

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Discussion Starter · #3 ·
I didn't realize I posted this in the accessories section. Can a moderator move this to main discussion please.
 

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I checked with my local dealer about what a monthly payment would be on the grom, i have a line of credit with them and at max he said about 80.00, i would be curious what a personal loan from the bank monthly payment would be..
 

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Honda UK are offering three year finance deal

GBP 99 down (USD 150)

GBP 75 per month (USD 115) for 36 months

Approx 5% interest rate

Now you know why they are sold out here!
 

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Interest rates should be around 2.9-3.9% in the US. If not go check out a local credit union or a bank. Prime interest rates in the states are cheap right now. I sell cars and there are some banks financing new cars for as low as 0.74%. I'm not talking manufacturer. That's a regular bank/credit union. Banks and CU's want your business.
 

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I'm on a you selling spree as to not have to finance. By dealer said a crazy high interest. But I think they rip people off too.
 

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Honda's current rate is around the 3.9 mark, but that's with really good credit. They are pretty tough with financing and they have like a minimum of $75 a month or so. I'd find a local credit union or get a credit card that offers you 14 months of interest free, the latter of which is pretty much my plan at this point.
 

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Check local all the way. When we got my wifes bike (2012 CBR250) some local financing joint got us the money at 10% interest! Holy Crap! So a few months later we went into the credit union and they re financed the bike at 3.5% WITH casualty insurance (if I die, or become disabled, the bank writes off the loan) AND GAP (if the bike is totaled, the bank writes off whatever insurance doesn't cover and gives us a check for $1,000).

I would say that one of the betters deals that I have gotten in a while....
 

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Won't know rates until the bike hits dealers and Honda issues a program. If I had to guess it would be a normal 2-3%. Most younger buyers wont be able to score a low rate due to lack of credit.
 

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Honda UK are offering three year finance deal

GBP 99 down (USD 150)

GBP 75 per month (USD 115) for 36 months

Approx 5% interest rate

Now you know why they are sold out here!
thats a hell of a deal, it's basically an impulse buy at that point. even some kid working at mcd's flipping bugers can get a grom of his own ahah
 

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Yea if you have access to a credit union that would be the way to go. I figure dealers want to just move these things cash if they can.
 

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I hope the lenders start making getting bike loans more like getting car loans, otherwise motorcycle sales will never take off the way they need to to in the USA... :(
 

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if you have access to a credit union they pretty much always have the best rates. from my experience with financing they will probably hit you pretty hard on interest on such a small purchase, that way they can attempt to make decent profit off you
 

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Its harder to get financed since a motorcycle is considered a luxury item. My friend was financed on a dealer credit card for nearly 19% when he bought his yamaha R6. Yes he is stupid
 
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