How much to expect to pay for a 2014SB
Tourer
Joined: May 2013
Posts: 436
Likes: 2
From: West Coast B.C
Been looking around on purchasing either a brand new SB or a used one, recently asked for a quote from a local HD dealer he said that he has a stock '14sb asking $14,200. Applied trough HD finance he said I got approved and I would need to put down $1600 with a monthly payment of $298 for 84mo pay penalty.. Do those numbers seem right to you? I did calculations and it comes out to over 26k ??? Is this right?
You are right! They got me right at 15%apr... I guess this is the going rates for 2014s... I thought I was being played but the more I see the more I realize just gotta keep looking for the best deals out there
Cruiser
Joined: Feb 2013
Posts: 122
Likes: 0
From: North Dakota
Picking my 2014 Street Bob up on Monday. Bone stock they retail for $13,349. I am getting mine just like that, completely stock and after the licensing and fees I think it was like right at $13,500 plus or minus a few bucks. I also am going through a credit union and am getting 2.3% interest at 60 months and I believe the payments are around $260 a month so I'd def look somewhere like a credit union to get a loan. Thank you oil field for low interests haha! Hope this helps, good luck with the route you choose!
Picking my 2014 Street Bob up on Monday. Bone stock they retail for $13,349. I am getting mine just like that, completely stock and after the licensing and fees I think it was like right at $13,500 plus or minus a few bucks. I also am going through a credit union and am getting 2.3% interest at 60 months and I believe the payments are around $260 a month so I'd def look somewhere like a credit union to get a loan. Thank you oil field for low interests haha! Hope this helps, good luck with the route you choose!
Road Warrior
Joined: Jun 2013
Posts: 1,912
Likes: 123
From: Spokane, WA
Obviously you don't have much credit history, so make a years worth of payments with whoever will finance you now and then refi with a credit union or whoever will offer you the lowest rate.
Last edited by Nickatnyt; Mar 12, 2014 at 01:23 AM.
Stellar HDF Member
Joined: May 2013
Posts: 3,145
Likes: 2,958
From: New York
A Short Lesson Here on Loans
Banks use what is called "Risk Based Pricing" when providing a loan. In short, "How risky is it lending money to this person". They will look at credit history and income to assess the borrower's ability to pay back the loan. Banks need to earn a return on every dollar they lend out. A good credit risk gets a lower interest rate because he will be very likely to pay the loan back. History has proven that those with a poor credit history or first time borrowers with no established history yet are less likely to pay back so everyone in that category pay more to support those loans that default.
As for the down payment question: A bank will also determine the maximum loan a borrower can pay back. Sort of like the credit limit on a credit card. The difference with a bike is if you do not pay back the loan the bank takes the bike.
One last thing: Credit Unions by definition are "Not For Profit" whereas banks are "For Profit". That does not mean a credit union is reckless. To the contrary they tend to more difficult to get a loan from but those with a good credit rating will enjoy lower rates.
A little trivia: Your Credit Rating (FICO Score) is one of the things insurance companies look at when determining your premium. They believe a person who is responsible with their finances are also responsible drivers/riders.
For those of you who did not fall asleep, I hope this helps.
As for the down payment question: A bank will also determine the maximum loan a borrower can pay back. Sort of like the credit limit on a credit card. The difference with a bike is if you do not pay back the loan the bank takes the bike.
One last thing: Credit Unions by definition are "Not For Profit" whereas banks are "For Profit". That does not mean a credit union is reckless. To the contrary they tend to more difficult to get a loan from but those with a good credit rating will enjoy lower rates.
A little trivia: Your Credit Rating (FICO Score) is one of the things insurance companies look at when determining your premium. They believe a person who is responsible with their finances are also responsible drivers/riders.
For those of you who did not fall asleep, I hope this helps.
Last edited by Antonio Balls; Mar 12, 2014 at 07:53 AM. Reason: Trivia
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Banks use what is called "Risk Based Pricing" when providing a loan. In short, "How risky is it lending money to this person". They will look at credit history and income to assess the borrower's ability to pay back the loan. Banks need to earn a return on every dollar they lend out. A good credit risk gets a lower interest rate because he will be very likely to pay the loan back. History has proven that those with a poor credit history or first time borrowers with no established history yet are less likely to pay back so everyone in that category pay more to support those loans that default. As for the down payment question: A bank will also determine the maximum loan a borrower can pay back. Sort of like the credit limit on a credit card. The difference with a bike is if you do not pay back the loan the bank takes the bike. One last thing: Credit Unions by definition are "Not For Profit" whereas banks are "For Profit". That does not mean a credit union is reckless. To the contrary they tend to more difficult to get a loan from but those with a good credit rating will enjoy lower rates. A little trivia: Your Credit Rating (FICO Score) is one of the things insurance companies look at when determining your premium. They believe a person who is responsible with their finances are also responsible drivers/riders. For those of you who did not fall asleep, I hope this helps.
Banks use what is called "Risk Based Pricing" when providing a loan. In short, "How risky is it lending money to this person". They will look at credit history and income to assess the borrower's ability to pay back the loan. Banks need to earn a return on every dollar they lend out. A good credit risk gets a lower interest rate because he will be very likely to pay the loan back. History has proven that those with a poor credit history or first time borrowers with no established history yet are less likely to pay back so everyone in that category pay more to support those loans that default. As for the down payment question: A bank will also determine the maximum loan a borrower can pay back. Sort of like the credit limit on a credit card. The difference with a bike is if you do not pay back the loan the bank takes the bike. One last thing: Credit Unions by definition are "Not For Profit" whereas banks are "For Profit". That does not mean a credit union is reckless. To the contrary they tend to more difficult to get a loan from but those with a good credit rating will enjoy lower rates. A little trivia: Your Credit Rating (FICO Score) is one of the things insurance companies look at when determining your premium. They believe a person who is responsible with their finances are also responsible drivers/riders. For those of you who did not fall asleep, I hope this helps.
Also do not go with someone who has a penalty for prepayment. In a nutshell it means you take a hefty fine to pay off your loan early. A non penalty loan states the day after purchase you can pay it off and walk away with no fees/fines. So if you do decide to do it give it at least 6 months so it can hit you credit report showing good payments then pay it off to lower that debt to income ratio.
Last edited by JMummery; Mar 12, 2014 at 09:40 AM.