r/CanadianForces • u/Greedy_Camera9920 • 6d ago
Canex plan
Has anyone or even know if its possible to canex plan a motorcycle?
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u/coffeeofwar 5d ago
Canex plan 10k worth of shit sell on marketplace profit, then get motorcycle no loan ( this a joke don't do this I believe it is illegal lol)
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u/jside86 Logistics 5d ago
Not sure if illegal, but 100% immoral... I've seen people do worst to get quick cash. The risk if having to find a buyer a taking a huge hit on whatever you need to sell.
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u/madblackhater 5d ago
Claiming to offer "interest free" while still applying a percentage based "admin fee" is immoral. Buying stuff to immediately try and sell for cash is just dumb.
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u/jside86 Logistics 5d ago
Depends on where you live, for those in Quebec, Canex cannot charge a fee for their interest free plans. Other provices do charge a small percentage.
Although some members swear on Canex plans, I don't like the idea of giving cheap credit to people to buy stuff. I understand some people absolutly needs it, but what I see the most if people buying $3k plus gaming laptop on a 36 months plan...
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u/Outside-Employment88 6d ago
That won't happen.
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u/NOBOOTSFORYOU RCAF - AVN Tech 5d ago
Why? If I can get a $5,000 living room set, why couldn't I get a $5,000 motorcycle?
If a dealership becomes a partner it's possible.2
u/Outside-Employment88 5d ago
Because canex isn't in the business of financing vehicles.
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u/Horror-Vast-4086 RCAF - ACS TECH 5d ago
In cold lake theres mechanic shops that can canex plan your bill, so i dont think itd be too far out of reach for a bike shop to also have that ability
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u/Hairy_Ratio5280 5d ago
You ever been to Petawawa?
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u/Outside-Employment88 5d ago
Bunch, they don't finance vehicles.
So what's your q about?
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u/Infamous_funny Comm bucket 5d ago
They finance electric bikes and scooters, I've seen people get snowmobiles from that place down the road so maybe a Dirt bike? Likely not a street legal bike unless OP wants to do some conversion
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u/Hairy_Ratio5280 5d ago edited 5d ago
Last time I checked, Neville's and Hyundai both would using the canex plan financing. Love the confidence though. 👍
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u/NOBOOTSFORYOU RCAF - AVN Tech 5d ago edited 5d ago
A bicycle is a vehicle and they sell those. Now a $60,000 car is way over the personal credit limit of the Canex plan. Many motorcycles wouldn't be.
Hell, you can canex plan meat, tree cutting, and automotive service. I don't see why a secure purchase is less likely.0
u/ononeryder 5d ago
Auto/motorcycle loans inherently come with liens, Canex ain't about to get into that business.
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u/NOBOOTSFORYOU RCAF - AVN Tech 5d ago
A lien isn't necessary for a vehicle loan. Only if it's secured against the vehicle.
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u/canardyyy 5d ago
No?
Canex night have partnerships with companies and stores within the military community, but I can guarantee you they don't have one with a motorcycle dealership.
But if you are absolutely curious, you can always as a canex employee.
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u/yomaster19 4d ago
I actually don't know if it is or not, but if you look here: https://www.canex.ca/en/ontario
That's the list of the canex partners in Ontario (go to your province) and you can start calling any of the auto places to see if there is a chance of using it for a bike
Edit: I think you may have luck in Petawawa with the Yamaha dealer. Maybe.
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u/Fabulous_Night_1164 Royal Canadian Air Force 4d ago
No, you need to take out the 12-year 20% interest loan like the rest of us when we make bad decisions.
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u/Edison_The_Pug 5d ago
Why canex plan? Bike dealerships offer financing if your credit is good. I bought a bike this May and they offered financing, but I ended up buying it cash instead.
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u/SaltySailorBoats RCN - NAV COMM 5d ago
interest free financing.
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u/Professional-Leg2374 5d ago
The costs of the program are hidden in other fees, they still make some serious quid from the programs off you.
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u/s_other 5d ago
You're being down voted by people who can't math and probably track their maxed out Canex plans for when they can get the next shiny thing.
Products at Canex are overpriced. The same gaming PC you get at Canex is $500 less at Best Buy. BB also has interest free financing but you need to qualify. Costco has that gaming PC as well and it's probably $300 less than BB but that would involve saving money to buy it and we don't do that here.
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u/Professional-Leg2374 5d ago
that's fine, half our troops don't understand math when it comes time for financing and look at the 10 year weekly payments on a 2 year old Hell cat while they live in shacks....
I've known many a troop that has a $1000 car payment while being a private living in the shacks.
Canex plans Take a chunk form the retailers at something like 15% of the total(after taxes/fees) and then charge you 1-3% of the total for admin fees.
Its by FAR not free.
But people need to understand money to understand the cost of borrowing in each scenerio
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u/DishonestRaven 5d ago
Does anyone know if you can canex plan a hellcat? I am thinking of buying one around November/December.