I am looking at picking up another Harley and was thinking about financing it through their bank. I think it is Eagle Savings or something like that. Anyhow I used their financing for my last bike without any issues and paid the loan off.

I am wondering with today's economy if it is still easy to finance an older bike through them, it is a 99 I am looking at. I bought a 94 a few years ago and they financed it with no problem. I am hoping they still do the older bikes.

 

Only way to find that out is try ...

 

Dude,
In todays economy many banks and credit unions are begging people to borrow money, I would call or shop around all over the place, When I bught my 07 I sent a fax with my intentions to buy and what I was looking at (bike wise) to 30 different banks and credit unions, asked what their terms were on both new and used bikes. Received replies from about 10 and only took 4 seriously. But what surprised me was how every one said they had the best rate but their rates were spread some 4 percentage points apart from each other, ended up with a 4.5% fixed from a great LOCAL credit union, Shop, Shop, Shop

Good Luck!

 

That is interesting, the perception I had was just the opposite. With all the negative press lately I was under the impression money is very hard to come by even with good credit. Yes I actually have good credit. Maybe the credit union is the way to go. Thanks for the input.

 

Keywords bolded. Ever known any other type of press? I bought my bike in Feb. right in the middle of the worst of it and it was just like buying any other vehicle I've ever bought. Filled out an app, got approved, rode home.

 

Greetings,

Credit unions are not like regular banks...Yes the regular banks have tightened up, but most credit unions are out there being very aggressive right now. While you won't be able to do 84 months like through Harley Financial, you can get a 60 (sometimes 72) month loan at a better rate, saving you money in the long run.

 

Local credit unions are always better. The next would be profession-specific credit unions. Remember: the business model of a credit union is to *loan* money to members.

That said, interest rates are up across the board. A friend of mine just bought an Ultra and was offered 15.5% from the dealer (didn't go to other dealers) and 7.5% from a credit union that he wasn't even a member of. So he opened a checking account and financed through them.

Credit unions are typically easier/more lenient in their refinancing, whereas HD/Eaglemark have no early repayment penalties, but do not allow for refinancing, to my knowledge.

Financing used bikes, like used cars and used boats, is always going to be more expensive. The higher rates are to offset the swifter depreciation of the secured asset (the collateral).

 

I got credit on a new bike no problem,ex-wife screw my credit up pretty bad I've got it back up to 690 but I put a large down payment down but they turned me down for a credit card
the dealer should be able to find you credit somewhere

 

When I bought my bike last April I shopped around the financing and HD was by far the worst offer. I have good credit and my local CU was seriously about 6% cheaper than HD credit. What a difference that makes in the long run.

 

these are all great replies with one common theme, ignore the press and shop around, especially if your credit is good, I was able to go 72 months with no down (wish I had put money down) but then again I'm finally living the dream !