HSBC/Kawasaki Financed - Kawasaki ZX-10R.net
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post #1 of 23 Old 10-16-2006, 09:14 PM Thread Starter
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HSBC/Kawasaki Financed

How many of you financed your bikes with this bank. This was the bank that the dealership was doing their promo when I bought the bike 2 years ago. It was something like $39 minimum payments for 2 years and then the rate jumps to like 9%. Does anyone know if they charge the remaining outstanding balance 9% for 2 years of accrued interest? I always paid extra for the past 2 years so my balance is only like $4,000, but I want to avoid them hitting that remaining balance at 9% for the previous 2 years. If that's the case then I will just write a check and pay it off.

FYI - I tried calling HSBC and they couldn't answer that specific question. They could only tell me when the promo rate ends and what the new rate would be... Useless!

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post #2 of 23 Old 10-16-2006, 09:24 PM
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I purchased my 06 with them under the 6.9% for the first 24 mo. and then it goes to 9.9 for the balance of the loan. I have been doubling my payment and intend to do so for the first 24 and then just pay off the balance when it goes to the 9.9%. I sure hope I don't get hit with accrued after the 24 mo or I will for sure pay it off.......guess I better go read the contract.

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post #3 of 23 Old 10-16-2006, 09:27 PM
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i did... and i will NEVER go thru them again, wheneva i totaled my R1, i called them, and they told me the biggest crock of shit ever... they told me not to pay on it anymore until insurance got a chance to get to it and determine if it was totaled or not.... then my interest rate jumped b/c i wasnt payin on it... and next thing i know they're sending a guy out to repo my bike, of course its in peices so he wouldnt take it... anyways, my insurance finally paid them off, and they tried to charge me a REPO fee... and for the last 6 months, they havent answered my letters and they say my account isnt handled by them anymore... i dont know what to do, but im not payin em shit b/c thas on them.... thats their fault, i even documented who said wat to me and on wat day... so if they wanna battle me on it, we can go at it... that is, IF they EVER answer me back... sorry but i had to vent on HSBC's shitty service... and another thing... they've got a deliquency on my account so i cant go get a new 10r....
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post #4 of 23 Old 10-16-2006, 09:36 PM
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yea, a friend of mine that works at the dealership told me that on my next bike i buy, i need 2 do an installment plan instead of goin thru a credit card service, his words were... you'll pay more monthly but, you'll have a lower interest rate and your $ will go more to the balance an no to interest...
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post #5 of 23 Old 10-16-2006, 09:44 PM
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I used them to buy my '06 under the "no payments, no interest for 6 months" plan. APR on the card was 17.9% (and I have outstanding credit). I could've paid cash for the bike, but financed it for the 6 months and 3 days before the promo ended, stroked out a check and paid the fugger off. That way it helps my credit and I get to keep the interest on my $11k.

Just pay it off and be done with it!!!

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post #6 of 23 Old 10-16-2006, 09:44 PM
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i went through hsbc, but paid it off within a year, so not sure about the fees. but from previous times with hsbc they do charge a defered balance fees and all the amount that would have been charged at their normal rate after the promo is over.
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post #7 of 23 Old 10-16-2006, 10:02 PM
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i used them on the 04, 3.9% for 3 yrs. i asked them if i could switch my payment date from the 16th to the 1st of the month. they said no, first time i've been turned down to have a payment date adjusted. no issues other then that with them to date.

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post #8 of 23 Old 10-16-2006, 10:05 PM
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Quote:
Originally Posted by SkyDork
I used them to buy my '06 under the "no payments, no interest for 6 months" plan. APR on the card was 17.9% (and I have outstanding credit). I could've paid cash for the bike, but financed it for the 6 months and 3 days before the promo ended, stroked out a check and paid the fugger off. That way it helps my credit and I get to keep the interest on my $11k.

Just pay it off and be done with it!!!
+1 here as well.
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post #9 of 23 Old 10-16-2006, 11:48 PM
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I've used them and had zero problems with HSBC. The only thing I would fault them on was how slow it took them to get the title to me.

As far as any deferred interest, I don't recall any deferred interest under the low interest for x years promos. With any credit card I've used that had deferred interest, the credit card company would list the deferred interest in the monthly statements so you have a running tally on what the total deferred interest would be.
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post #10 of 23 Old 10-17-2006, 10:49 AM
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Quote:
Originally Posted by Phantom
i went through hsbc, but paid it off within a year, so not sure about the fees. but from previous times with hsbc they do charge a defered balance fees and all the amount that would have been charged at their normal rate after the promo is over.
Same here

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