Howdy from Texas!!

Okay, looking to make my first Harley purchase pretty soon, hopefully. I went to the HD dealership yesterday and test rode a 2014 SG and RK. I like them both, obviously, but feel I would have to tweak with the foot peg, height and bar position to get right where I'd like to be. Well that is not important now, I submitted an app just to see where I am at as far *** approval, it went through and lady came back with this numbers. +17%APR (WTF!!!!!), seven years, $2k down that they were able to put into loan just so I'd have zero down payment, and $430 month with 2 year warranty on a 2014 new SG. I obviously did not take the "deal". Needless to say I would like a RG to be honest, saw a couple on CL in great condition (2013, +500 miles, $19k) and would like to know if a rider to rider program would be better than waiting on one popping on a dealership? Do same terms applies and if anyone that has done it has any tips or hidden fees I should watch for. I know my credit is around 650-700 since I just refinanced my home. I did also submitted an app to my job credit union even though I do not have an account with them, still waiting on their response. They did call to ask for a check stub to verify income but that has been it so far.

I apologize in advance if I sound too naive but I am not a great negotiator at all, I am twenty eight years old, riding an 1100cc vstar for over six years now, decent steady job part military (National Guard). Any help is greatly appreciated.

 

Are there any other dealers in your area? I would definitely look used myself.

 

Yes, plenty of HD delaers, Houston TX. Like l said, wanted to know if l could get it or not, looking to be in the $350-$400 range, seven years if that is the case, the rest l am more than sure salesman can work their magic to crunch numbers, but l also want to be some what smart on my first big purchase.

 

I got a better rate at the dealer in Farmington then I did at the one in Albuquerque. But I did end up going used, not sure if that made a difference.

 

Got good credit? Credit Unions are the way to go. My friend got 2 1/2% on his loan.

 

Sounds like they were trying to finance you through Harley's financing. Don't do that - the rates are going to be crap. It's more like using a credit card to buy a bike. The dealer I went through ran it through a third party bank and I got 2.9% which is generally pretty solid on a new motorcycle. Wait to see what the credit union says and maybe check with the bank you have accounts with. You can do a heck of a lot better than 17%. I also would not finance a bike for 7 years but I guess that's personal opinion. I put 3K down via trade on my Super Glide last year and I pay under $170 a month. Nothing wrong with going used either. Just don't sign up at 17% - that's just madness.

 

You definately should be able to do better on the interest rate......as for the purchase......I am still amazed anytime sombody buys a new bike from the dealer, the deals that are out there on barely used bikes are numerous and at a great savings...............but then again I guess they wouldn't if guys were going out and buying new ones.

 

17% is outrageous ... and of course they're telling you that your credit score is the problem, NOT. Another consideration, as was mentioned earlier, is that there are always super deals on "Garage Queens". Due diligence on your part will find a sweetheart deal. First though check with a local credit union for a great rate ( remember that finance charges on used vehicles are generally a point higher ) and approval in advance. That will give you an idea of how much you can borrow and what the monthly payment will be.

 

Shop around dude. Even if it means going miles and miles out of your way to get a better deal. The dealership near my house could only offer me 9.5% through Harley Financing. The out the door numbers weren't what I wanted anyway, so I left.

I shopped around to dealers farther away, and one got me where I wanted to be with 7.5% financing.

By the way, my bank offered me 17% interest. And this is a bank I have been with for over 20 years. So, you're not always going to get a better interest rate compared to Harley Financing. My credit score is in the "good" but not "great" category.

 

Bought a 2014 ultra this spring. Dealer came down 4000 off the sticker and took the 3.9 Harley financing to get out the door quicker.