Paid it off today! Now I have money to spend on it. The problem now is deciding what to change first!

 

Congratulations! Same thing happened with me this month in regards to paying it off. Money however is different, it went towards my wife getting a new car.

 

Congrats! Always feels good to pay one off.

Bought the wife a new Camaro in February, thought I could take a little time to pay off the Fat Bob I bought in June, but the wife wants it. So I'm busting **** to get it payed off, so she can buy me a new '13 Street Glide.

Not complaining, I feel blessed that we can pull it off. Just wasn't ready for it. But I am drooling over the yellow and black denim Street Glides and the fact that I'm not going to have to completely give up Fat Bob, unless she puts a SU-ZQ license plate on it like the Camaro, is icing on the cake.

 

my wife just had to put a BETYS BU license plate on her new Malibu so I know what you mean.

 

So did any of you make extra payments on your Harleys? I meant if you had a $350 payment and wanted to send in $500 did you do that? Or did you sent in one lump payment like every 6 months (like 2,000 every 6 months?) I am hesitating to do this because someone posted a while ago that Harley, when they get extra payment from customers, apply to interest. I am thinking WFT...put it towards the principle.

My first payment I had $37 applied to interest and the rest applied to the principle ($330 payment)...ok second payment I had $50 applied to interest and the rest to principle. I am thinking WTF why is this do...typically when you make next month's payment the interest should go LOWER because you owe less.

I have not really done alot to my bike but with working 75 hours a week (dumbass folks quit their jobs and my two jobs give me more hours) so I have saved up some money and wayt to pay down my bike but do not want to get screwed in the *** by HD.

I reckon I will get new pipes soon and PV and AC and get that **** on bike and enjoy the bike LOL...but hate this ****ing payment. Oh yeah my wife wants a new car...just like pigin a blanket...

 

Now you can start to save up for another one.

Blueridge,
The interest is compounded daily that's why it was different. Make the extra payment as often as you can so it cuts down on the amount that the interest is applied to, but make sure you specify the extra payment is principle only. I made principle only payments on my Street Bob. I was able to pay it off in a little less than two years. I didn't start making the principle only payments until the bike was the way I wanted it.

 

Thanks for chiming in. I knew it is compounded daily but that is what I do not understand. The interest rate is fixed and everything is fixed but the balance goes down...and if you make payments on time and never late you should pay less interest. I know there are other factors that can cause the paid interest to fluctuate some...but math is pretty linear. I am Engineer educated and still don't know how the **** this came about.

Well as for making extra payments....I got tired of mailing out a check monthly so went to set up automatic funds transfer. Ok...I see if you have a recurring payment set up you are access $0.00 for the capability to do that.

Then if you have any other kinds of electronic funds payment including one time payments you pay an extra $6.00...WTF. Another kind of payment you pay $12.00...what the hell is Harley thinking. IMO paying ON TIME every month is a must...HOW we pay should not concern HD.

Backt to my other question...if I am going to pay extra like mailing a check...do you pay the extra in the one payment check? For example lets say you pay $323.00 per month and you want to sent in $300 more monthly (and give up a few Buds LOL)...do you sent in $623.00 in one check and specify the extra goes towards principle? Or sent in two checks, one for payment and one for the extra on primciple?

Also since I sset up a recurring payment with HDFS...how do I pay the extra? Do I sent in a check via snail mail which I can do and wrote "the payment is for principle only"?

Here is what I am thinking...paying the around $40.00-$50.00 extra monthly interest is like throwing away $600 a year...I can pay the bike off quickly but want to do this and keep stock exhause on but think I am going to have to do a Stage 1 and put the amount on my CC...still focused on paying off the bike though. LOL

 

Congrats!

I paid mine off recently too so I know exactly how you feel!

Cheers,

Tom

 

Congrats to all and the op Iwill be there one day lol!!!

 

I presented myself with a new Harley for my 15yrs of hard work and dedication. I'm such a good boss!

Not to mention, it made for a good write off!