I was just poking around the Piaggio site to see what was new and saw an ad for promotion that ends in 10 days. The details go like so:
$0 Down/ $0 payments/ 0% Interest
Act now to take advantage of $0 down/ $0 payments/ 0% interest on purchases of new and unused 2009 and 2010 Piaggio and Vespa models.
Offer valid at participating dealers on purchases of new and unused 2009 and 2010 Piaggio and Vespa models Through Sheffield Financial between 1/1/2010 and 2/28/2010. Minimum Amount Financed $1,500; Maximum Amount Financed $40,000. See dealer for details and program dates. No payments required and 0% APR FOR 6 MONTHS. Thereafter, 48 equal monthly payments, plus 12.95% interest. Payments are approximately 2.68% of the original loan amount. Call 1-888-438-8837 for more information. Financing is subject to credit approval; not all applicants will qualify for credit. Financing promotions void where prohibited. Offer subject to change without notice.
Not bad if your credit is spotless and you think you can pay it off in half a year. You may want to check to make sure they won’t penalize you for paying the loan off early. Unfortunately I can’t tell you what the Piaggio line-up for 2010 looks like because the site appears to be buggy. Not sure, but you can see for yourself by going HERE>. Even their online .pdf brochure appears to be broken. :(
18. February 2010 at 11:34 pm
Wow! Sounds good..at first.
Then the payments start and the nearly 13% interests, ugh.
19. February 2010 at 1:39 pm
Yeah, for REAL! You know what though, I called the 888 number (above) and the loan processor told me that there were NO penalties for early payoff. So, if you are expecting to pay it off before August then it’s a good deal. Something to think about, at least.
21. February 2010 at 8:43 pm
Please think it through, if you try to refinance at a lower rate at the end of the 0% interest period, you are looking at financing a USED scooter, even though you bought it new. It is hard to get a good rate on a used scooter, so….. check out your options before you sign on the line.