Current HD Finance Rates
#14
Join Date: Apr 2011
Location: Kawartha lakes, Ontario, Canada
Posts: 702
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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.
#15
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).
Just shop around, go to your credit union (or TD Bank lol).
#16
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.
#17
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.
#18
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.
#19
By the way I don't know the details, but one local dealer is advertising 1.9% on new bikes for a winter special.
#20
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.
By the way I don't know the details, but one local dealer is advertising 1.9% on new bikes for a winter special.
Last edited by TKDKurt; 01-27-2013 at 10:07 AM.