Refinance?
Seasoned HDF Member
Joined: Mar 2010
Posts: 38,310
Likes: 6,328
From: Honah Lee
Welcome from Hampton Roads Virginia. That appears to be a fair rate. Should have done your home work back then. Go on line to your local Credit Unions. Going to be a Used Bike loan I would think now. Find a low advertised rate and then go in and check them out
I personally think no one should finance a bike if it is a hobby. And there is rare areas that a bike is not a hobby...especially at a Harley's cost.
I personally think no one should finance a bike if it is a hobby. And there is rare areas that a bike is not a hobby...especially at a Harley's cost.
Intermediate
Joined: Feb 2016
Posts: 39
Likes: 10
From: Albany
Thanks all. I was originally looking for a used 14+ FLHTK/CU and ended up getting the CU. Wells Fargo quoted me at 10-18% for a new or used bike loan. I asked the question to MB Financial today and their response was that the dealership can do a refi for me. Hence the question to the thread.
Stage IV
Joined: Feb 2016
Posts: 4
Likes: 0
From: Eastern NC
3.45% Go get it! My bank is Credit Union and they were doing 7% when they were doing motorcycle loan. Unfortunately, as of Jan 1, 2016 my bank no longer do motorcycle loan so it would have to be personal loan, which is 10.75%.
Elite HDF Member
Joined: Mar 2014
Posts: 4,214
Likes: 660
From: Prior Lake, MN
Your rate is reasonable. You could ask credit unions or other lenders for refi quotes, but really not sure you'd find anything to make it worth the bother.
The Harley dealer by here is offering 2.99. Not sure how much lower you could expect, as long is it's all at no cost to you , can't hurt to inquire. Just don't expect much.
The Harley dealer by here is offering 2.99. Not sure how much lower you could expect, as long is it's all at no cost to you , can't hurt to inquire. Just don't expect much.
Stellar HDF Member
Joined: Mar 2011
Posts: 3,481
Likes: 630
From: NorCal Rocklin
Eventually rates will climb back up, Not sure if you think you are going to get a better rate than that unless you have flawless credit.
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Road Warrior
Joined: Dec 2011
Posts: 1,785
Likes: 189
From: Louisiana
Can't imagine that a refi rate can beat what you got, but it won't cost you to inquire at various banks or credit unions.
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Road Captain
Joined: May 2013
Posts: 705
Likes: 17
From: Huber Heights,Oh
That's a good rate on a motorcycle, plus if you do refinance it, you'll have finance charges added to your payoff. That could put it back to how you started. Just pay above your payment and pay it off early to save money.
