Sheffield Financial Sled Financing

[1fujifilm]

Hello,
Thought I would let you know about a Sheffield deal I stumbled on that is not advertised.
If you have decent credit and buy a Doo you can get Zero percent interest for 6 months.

The catch, if you don't pay in full by the end of 6 months interest of 10.8% accrues from day 1 to the end of term.
FYI, you get all rebates with this deal, it's not a one or the other as the 60 month free interest is.

A great deal to float some cash if you pay in full by 6 months.
I am not sure why they don't advertise it, stupid on BRP's part.

Anyway, I did this last year and accrued zero interest all went as advertised.

Note, apply online with Sheffield, get an authorization number, negotiate with your Dealers then buy the best price and give the authorization number to Dealer then ride sled out in 30 minutes.
The application online is fast and you get an answer in about 30 minutes via email.

https://secure.sheffieldfinancial.com/newLoanApplication.aspx

Bear

 

[yamadooed]

If you take the zero for 60mo and you make 4% on the money instead of paying it off in 6mo you'll save more than a $1000 rebate check.

 

[durphee]

I never finance a toy and only purchase when i have enough cash.......until Sheffield offered me the 0%! I have had zero problems with them and would recommend their services. Might as well keep your money and make money on it like yamadooed stated.

 

[Tomg]

I never finance a toy and only purchase when i have enough cash.......until Sheffield offered me the 0%! I have had zero problems with them and would recommend their services. Might as well keep your money and make money on it like yamadooed stated.

Yup, was planning on paying cash for my new Doo last year, but I'm not walking away from 0%. Only problem with Sheffield is I have not been able to set up auto payments. Every month they send a bill and every month I send a check.

 

[rlspol]

I got 0% on my 2016 Polaris with them also. I have had no issue's at all. I do have them set up with on line banking, I just go in to my account and set date for payment to be sent.

 

[Skylar]

I always finance because i dont, and never will, have 12k laying around to spend on a toy. That being said, my rmk is financed through Sheffield at 1.9 percent. 3 year note, should have it paid off in two. No issues at all.

 

[legend02]

I financed threw Sheffield also, got 0 % for 36 Months last January. Make sure you a little ahead on payments so You don't owe anything after the last schedule payment or they will hit you up for interest. I pay extra every month .

 

[1fujifilm]

I financed threw Sheffield also, got 0 % for 36 Months last January. Make sure you a little ahead on payments so You don't owe anything after the last schedule payment or they will hit you up for interest. I pay extra every month .

Good point.

 

[euphoric1]

we do a lot of financing here and yes be sure to stay ahead of payments because its not 36 equal payments and you are right they will hit you with interest, even if you owe $100 at 36 months and one day you get whopped for interest originating from the date of purchase not the day after the 36th payment was due. But by all means use someone elses money for free if you can.

I financed threw Sheffield also, got 0 % for 36 Months last January. Make sure you a little ahead on payments so You don't owe anything after the last schedule payment or they will hit you up for interest. I pay extra every month .

 

[highhertel]

1.9%, darn near free money there.

 

[saber1]

Did a search on Sheffield a lot of unhappy customers and bad reviews i guess buyer beware.

 

[ICT Sledder]

Did a search on Sheffield a lot of unhappy customers and bad reviews i guess buyer beware.

Probably a lot of people who didn’t understand what “accrued interest” means.

- - - Updated - - -

1.9%, darn near free money there.

Still easy money when you take into account a healthy rate of inflation. Free money borrowing rate is whatever matches inflation. If you get a rate less than inflation then the lender is actually paying you to take the money, ever so slightly and intangibly.

 

[saber1]

I have seen these type of deals before u do have to read the fine print as in when u get 0 interest for 6 months paying x amount every month thinking you will have it paid off in 6 months But in reality they make the 6 month deal end at the beginning of the month but the payment is due at the end of the month u make your payment as usual then Bam you get a bill next month with all the accrued interest its a sneaky little trick just read the fine print and be carful some more ethical places tell u up front the real deal.

 

[harvest1121]

I did it with Yamaha last year it was spelled out for 6 months at 0. That payment sucked on 10k

 

[duluthrider]

I was wondering how they made any money on a $75 loan origination fee, still paying on my 0/60 from '17 rounded up to $200/month so it will be payed off in 55, not sure I will keep the sled that long, but I am sure my 10 grand has made more than that in my possession.

 

[snomoman]

I just made my last payment to Scheffield last month I had a three-year note around 3 1/2% interest that was the best they could do me with someone with a 800+ credit score, Another interesting thing is they didn’t tie the title of the snowmobile into the loan I found that quite strange

 

[longtrack]

If its a toy and you can't pay cash, you shouldn't buy it....

 

[Skylar]

If its a toy and you can't pay cash, you shouldn't buy it....

Lololololol.

 

[kip]

Please longtrack, that's a foolish thing to say. It's their money, not your's! Sheffield makes money because the sled mannys pay them per unit on each unit sold so they make the money upfront Hope this helps. I don't usually dispute much on this site but to make such a bold selfish statement is pure foolish!!!!

 

[MNBlizzard]

Happy Sheffield customer here. I have been paying a small monthly payment for a Zero percent APR deal for a new sled a few years ago. It wasn't that I couldn't pay for my new snowmobile in other ways, but I understand the idea that everything has a cost; there is the cost of building a savings account to make a lump sum purchase as much as there is the cost of interest. Add in the fact that tomorrow is never guaranteed and to me the decision is easy when considering credit or not. I definitely would do it again.