[Swamp Daddy]

Are you referring to Synchrony Bank?
I got mine at 1.95% interest for 3 years but making payments to have it paid off in 2.

Please verify this about the Kawi accounts being closed soon.
I've heard nothing about this with my loan.

Synchrony Bank is not going to close your account used to finance the motorcycle.

Citibank, the one running the Kawasaki card, |is closing the accounts. The terms of the loan won’t change. You’ll still make your payments as normal. You won’t be able charge to it.

 

[AV80R]

The promotional new vehicle financing at all the dealerships I went to for my 4RR used Synchrony Bank, not Citibank.

The Citibank account you have there is a credit card charge account. Those come and go. The vehicle financing accounts don't really have the same flexibility to close your account like a credit card.

 

[Swamp Daddy]

The promotional new vehicle financing at all the dealerships I went to for my 4RR used Synchrony Bank, not Citibank.

The Citibank account you have there is a credit card charge account. Those come and go. The vehicle financing accounts don't really have the same flexibility to close your account like a credit card.

Thats how I got the 1.95% interest rate on Swampy.

 

[AV80R]

What was the loan term, in months? I'm guessing 12-18. Probably 12.

 

[Swamp Daddy]

What was the loan term, in months? I'm guessing 12-18. Probably 12.

36 months at 1.95%. I could have chose 12 months at 0%, but I wanted a little bit of flexibility of extra time if needed.

 

[AV80R]

That's pretty unconventional for a credit card charge account to offer a rate that low for that long. No wonder they're closing it!

The Synchrony Bank vehicle financing loan is not a charge account, you cannot add to the balance thus there is no "closing" the account because it was already closed and the terms locked at origination.

There's nothing you're losing as a result of this. You got a good deal and the bank doesn't want to let you add more charges at that rate anymore. You scored and now they're taking their football and going home but you just get to enjoy the remainder of your term at a great rate.
No more free lunch though...they've cut you off! LOL

 

[Misnblu2]

Just hope that your interest rate for that car AND your balance doesn't go up.

Wirh interest rates going up on everything double check with that Visa card company to ensure you're not paying added interest.
If not you're golden. 👍

 

[Swamp Daddy]

Just hope that your interest rate for that car AND your balance doesn't go up.

Wirh interest rates going up on everything double check with that Visa card company to ensure you're not paying added interest.
If not you're golden. 👍

The loan documents detail it out with 1.95% for 36 months. It can’t go up.