Wilsons Sandbox

Posted: **Wed Aug 02, 2000 4:46 pm**

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I wanted to buy my KLR with a credit card for the frequent flyer miles and then write the check to the credit card company. The finance guy told me he could do it, but the credit card company would charge him 5%, which he would have to pass along to me. Did he think I was that much of a dumb-ass??? When I suggested we call the sredit card company, he excused himself "to ge see if the owner would include it in the (FULL) cost of the bike." Yea, right... Lamar A14 (and frequent flier miles!)

Posted: **Wed Aug 02, 2000 6:41 pm**

This is interesting, as I was told something similar when I bought my new XR250. I wanted to put it on my credit card and the salesman tried to convince me to go with Honda financing because the dealer would be charged 3% of the total by the credit card company. I ended up using my credit card and they supposedly had to take a 3% loss on the deal. Anybody know if this is true or are most dealers just getting some type of incentive from their financing companies? Barry '91 KLR650 '01 XR250 ATO137528@... wrote:

> > I wanted to buy my KLR with a credit card for the frequent flyer miles > and > then write the check to the credit card company. The finance guy told > me he > could do it, but the credit card company would charge him 5%, which he > would > have to pass along to me. Did he think I was that much of a > dumb-ass??? > When I suggested we call the sredit card company, he excused himself > "to ge > see if the owner would include it in the (FULL) cost of the bike." > Yea, > right... > > Lamar > A14 (and frequent flier miles!) >

Posted: **Wed Aug 02, 2000 6:45 pm**

>This is interesting, as I was told something similar when I bought my >new XR250. I wanted to put it on my credit card and the salesman tried >to convince me to go with Honda financing because the dealer would be >charged 3% of the total by the credit card company. I ended up using >my credit card and they supposedly had to take a 3% loss on the deal. >Anybody know if this is true or are most dealers just getting some >type of incentive from their financing companies?

in most cases, there is a % charge for any kind of CC transaction. the exceptions would be grocery stores & warehouse clubs, which run such a tight profit margin that they couldn't afford to pay a cut. gears, ye wilde ryder -- wallace@... 99 zx-9r "blue bayou" 98 vtr-1000f "stormy" zwallace@... 86 cr-250 "dirt devil" 00 sv-650 "zipper" "& you were using your friends as a berm." -- RP 83 v65 magna "nasty" FoJ#002...AMA#456832...JHLO#002...COP#000...CCS#SW969...Support the RKBA

Posted: **Wed Aug 02, 2000 6:48 pm**

if they really have to pay 3%, they're losers. when i managed a bicycle shop, we payed about 1.5%. we'd way rather take credit cards than checks because 1.5% is nothing compared to the costs of trying to collect on a bad check. i strongly suspect that they get some kind of bonus based on how many financing packages they sell. since honda's credit plan was over 16% in the last ad i saw, i think i'd rather the dealer payed an extra 1.5% than that i payed and extra 5-6% or more. mw

> -----Original Message----- > From: Barry Mcpherron [mailto:r40286@...] > Sent: Wednesday, August 02, 2000 2:59 PM > To: ATO137528@... > Cc: DSN_klr650@egroups.com > Subject: Re: Fwd: [DSN_klr650] Sleazy Kawa salesman > > > This is interesting, as I was told something similar when I bought my > new XR250. I wanted to put it on my credit card and the salesman tried > to convince me to go with Honda financing because the dealer would be > charged 3% of the total by the credit card company. I ended > up using my > credit card and they supposedly had to take a 3% loss on the deal. > Anybody know if this is true or are most dealers just getting > some type > of incentive from their financing companies? > > Barry > '91 KLR650 > '01 XR250 > > ATO137528@... wrote: > > > > I wanted to buy my KLR with a credit card for the frequent > flyer miles > > and > > then write the check to the credit card company. The > finance guy told > > me he > > could do it, but the credit card company would charge him > 5%, which he > > would > > have to pass along to me. Did he think I was that much of a > > dumb-ass??? > > When I suggested we call the sredit card company, he excused himself > > "to ge > > see if the owner would include it in the (FULL) cost of the bike." > > Yea, > > right... > > > > Lamar > > A14 (and frequent flier miles!) > > > > -------------------------------------------------------------- > ------ Get a NextCard Visa, in 30 seconds! > 1. Fill in the brief application > 2. Receive approval decision within 30 seconds > 3. Get rates as low as 2.9% Intro or 9.9% Fixed APR > http://click.egroups.com/1/6630/6/_/911801/_/965259658/ > -------------------------------------------------------------- > ------|e>- > > Visit the KLR650 archives at > http://www.listquest.com/lq/search.html?ln=klr650 > Support Dual Sport News... dsneditor@... > Let's keep this list SPAM free! > > Visit our site at http://www.egroups.com/group/DSN_klr650 > To unsubscribe from this group, send an email to: > DSN_klr650-unsubscribe@egroups.com > >

Posted: **Wed Aug 02, 2000 6:49 pm**

It is true, but the 5% is inflated. I own my own business and accept credit cards, when all the charges are added in it works out to about 2.9% a little higher for Discover. Ed Windsor Oh

Posted: **Wed Aug 02, 2000 7:44 pm**

At 2:58 PM -0700 8/2/00, Barry Mcpherron wrote:

>This is interesting, as I was told something similar when I bought my >new XR250. I wanted to put it on my credit card and the salesman tried >to convince me to go with Honda financing because the dealer would be >charged 3% of the total by the credit card company. I ended up using my >credit card and they supposedly had to take a 3% loss on the deal. >Anybody know if this is true or are most dealers just getting some type >of incentive from their financing companies?

As I understand it, the credit card companies typically charge around 3%. However, I think it's also illegal to surcharge for credit card use. That's why many places offer a "3% cash discount" off their inflated price tag. Mark B2 A2

Posted: **Wed Aug 02, 2000 8:06 pm**

In a message dated 8/2/00 5:48:45 PM Eastern Daylight Time, ATO137528@... writes:

> I wanted to buy my KLR with a credit card for the frequent flyer miles and > then write the check to the credit card company. The finance guy told me

he

> > could do it, but the credit card company would charge him 5%, which he

would

> > have to pass along to me. Did he think I was that much of a dumb-ass???

It would cost them 3 to 5% to process the sale on a credit card. When I sold cars years ago some well to do folks would work their best deal then whip out the plastic. We just said NO!

Posted: **Thu Aug 03, 2000 12:23 am**

Subject: Re: Fwd: [DSN_klr650] Sleazy Kawa salesman

> This is interesting, as I was told something similar when I bought my > new XR250. I wanted to put it on my credit card and the salesman tried > to convince me to go with Honda financing because the dealer would be > charged 3% of the total by the credit card company. I ended up using my > credit card and they supposedly had to take a 3% loss on the deal. > Anybody know if this is true or are most dealers just getting some type > of incentive from their financing companies? > > Barry > '91 KLR650 > '01 XR250

I bought my KLR with a credit card, and didnt have any problem. If they do have to pay 3%, thats their problem, I wouldnt pay any more. MotorMark

Posted: **Thu Aug 03, 2000 1:07 pm**

I guess I never new this about credit cards... but I guess this is how the card companies make even more money besides the intrest. Good thing I made the deal before I discussed payment method

Barry '91 KLR650 (Sold, but staying on the list) '01 XR250R (Just got street plates this morning) Mark wrote:

> > At 2:58 PM -0700 8/2/00, Barry Mcpherron wrote: > >This is interesting, as I was told something similar when I bought my > >new XR250. I wanted to put it on my credit card and the salesman tried > >to convince me to go with Honda financing because the dealer would be > >charged 3% of the total by the credit card company. I ended up using my > >credit card and they supposedly had to take a 3% loss on the deal. > >Anybody know if this is true or are most dealers just getting some type > >of incentive from their financing companies? > > As I understand it, the credit card companies typically charge around > 3%. However, I think it's also illegal to surcharge for credit card > use. That's why many places offer a "3% cash discount" off their > inflated price tag. > Mark > B2 > A2

Posted: **Thu Aug 03, 2000 1:15 pm**

Update.... No Known problems with any year KLR other than the 2000 model. It was an error on the manufacturer's part, it is corrected and we consumers will never see it. The tech at the factory got bikes mixed up when asked about any problems with the KLR. Additionally, the factory says that the HO stator WILL destroy the stock RR. In a matter of X (X being a small number) thousands of miles, depending on the average RPM during those miles. Steven's and my problems could be a bad batch (unlikely as they are ALL factory tested). I'm going to install my stock RR and see if it is charging. We'll go from there. laterZ Dash

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