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  #11  
Old 01-25-2013, 06:17 PM
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mmcbeat mmcbeat is offline
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Do the math. You should be able to get 4% or less. Interest is so very cheap right now. Not worth haggling over 1% or so.
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  #12  
Old 01-25-2013, 06:33 PM
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3.9 in NJ ,HD credit
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  #13  
Old 01-25-2013, 09:01 PM
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I got 2.89% back in october through HD. Having good credit does pay off!
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  #14  
Old 01-25-2013, 09:11 PM
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Quote:
Originally Posted by logdon17 View Post
Been thinking about picking up a brand new bike (all my bikes have been craigslist specials) but do not want to pay some insane amount of interest. I have noticed most car dealers offer 0% interest but have not seen that from Harley. Has anyone seen this rate lately or should I head back to Craigslist? If it matters, my credit score would qualify for top tier rates.
I've never bought a brand new bike, always figured it was better to by 2-3 yrs old and let someone else eat the initial depreciation. Always a lot of good used late model bikes available which I pay cash for. That 3-5% interest rate is just money flowing out.
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  #15  
Old 01-25-2013, 09:15 PM
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I just went over my 3 credit reports and was concerned that TD Bank showed up on them (long since paid off ahead of time). I called and found out that it was the loan that I took thru HD financing back in '05. So, when you finance thru HD apparently they are either a middle man or they then sell the loan to TD Bank.

Just shop around, go to your credit union (or TD Bank lol).
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  #16  
Old 01-26-2013, 01:04 AM
stryker67 stryker67 is offline
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Go to your bank or credit union and get pre approved for the amount that you are looking to spend.. then go to the dealer and work out the price of the bike you want and order them see what their financial department can do and take the better of the two..I have really good credit and got 4.9% from my credit union, Harley financial was 24.9%.. when I initially about to my credit union they told me it would probably be around 8% ,that was without running a credit report.
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  #17  
Old 01-27-2013, 02:43 AM
logdon17 logdon17 is offline
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Originally Posted by stryker67 View Post
Go to your bank or credit union and get pre approved for the amount that you are looking to spend.. then go to the dealer and work out the price of the bike you want and order them see what their financial department can do and take the better of the two..I have really good credit and got 4.9% from my credit union, Harley financial was 24.9%.. when I initially about to my credit union they told me it would probably be around 8% ,that was without running a credit report.

Hahaha, 24%?? I would have at least wrapped him on the face for even suggeseting that rate. And then walked out and made sure anyone I knew would never return to that disaster of a dealer. At this point I think I will skip the new bike and put some money into the bikes I already have.
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  #18  
Old 01-27-2013, 09:10 AM
dusturbd dusturbd is offline
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I simple way to pay almost 0 is make a large payment your first month say 15-2000 then your next statement will show nothing due BUT go ahead and make your reagular payment every month after and you will pay it off way early and with very little paid in intrest.
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  #19  
Old 01-27-2013, 09:25 AM
Loc_Tite Loc_Tite is offline
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I simple way to pay almost 0 is make a large payment your first month say 15-2000 then your next statement will show nothing due BUT go ahead and make your reagular payment every month after and you will pay it off way early and with very little paid in intrest.
I'm not a financial genius, but isn't a bike loan "front-loaded" interest, meaning the ratio of interest vs. principal starts early in the loan paying almost all interest, then gradually reversing over the life of the loan until at the end of the loan paying almost all principal? If so then your first payment is almost all interest, so of course you wouldn't see as much interest over the rest of the loan? Just wondering...

By the way I don't know the details, but one local dealer is advertising 1.9% on new bikes for a winter special.
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  #20  
Old 01-27-2013, 09:48 AM
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Originally Posted by Loc_Tite View Post
I'm not a financial genius, but isn't a bike loan "front-loaded" interest, meaning the ratio of interest vs. principal starts early in the loan paying almost all interest, then gradually reversing over the life of the loan until at the end of the loan paying almost all principal? If so then your first payment is almost all interest, so of course you wouldn't see as much interest over the rest of the loan? Just wondering...

By the way I don't know the details, but one local dealer is advertising 1.9% on new bikes for a winter special.
No. The interest is just the annual interest rate applied to the outstanding balance. At the beginning of the loan, the outstanding principal is greater, so the portion of your flat payment amount (all loan payments are calculated so you pay the same amount each month over the life of the loan) that is applied to interest will be greater. If you make an additional principal payment, the amount of your flat payment applied to interest will be less and you will pay off the loan earlier.
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Last edited by TKDKurt; 01-27-2013 at 10:07 AM..
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Old 01-27-2013, 09:48 AM
 
 
 
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