Eaglemark loans. changable?
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Road Warrior
Joined: May 2007
Posts: 1,619
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From: ARIZONA
Eaglemark loans. changable?
Just wondering if anyone knows if Eaglemark can work with the customer to renegotiate the loan terms. Id personally be able to pay a little more each month if I could reduce the length of my term, and Id like to go back down to the standard two year warrenty. Doubt they go for that kinda thing, but I figured its worth a shot to ask them.
Anyone tried to do this?
Anyone tried to do this?
Seasoned HDF Member
Joined: Dec 2003
Posts: 7,090
Likes: 3,882
From: Murfreesboro , TN
RE: Eaglemark loans. changable?
I think you can refinance, but I'm not sure if you can through the same company (Eaglemark in this case). Why not just pay extra every month? If you pay $200 a month now, why not pay $250-$300 (set it to auto pay, so you can't change it) That'll save you a few thousand bucks right there, and pay it off early (for more exact numbers, go to http://www.dinkytown.net/, they have really good free financial calculators, and can tell you how much you'll save by paying an extra $xx per month based on your interst rate, how much you'd have to pay each month to payoff xx months early, etc.)
As far as the extended warranty, that doesn't really have a whole lot to do with finance. You can get a refund from the dealership you bought it from, pro-rated, so anything over 18 months I wouldn't expect to see much back from the dealer (and they will take their sweet time to get a refund check mailed to you).
As far as the extended warranty, that doesn't really have a whole lot to do with finance. You can get a refund from the dealership you bought it from, pro-rated, so anything over 18 months I wouldn't expect to see much back from the dealer (and they will take their sweet time to get a refund check mailed to you).
Road Captain
Joined: Apr 2007
Posts: 600
Likes: 16
From: Arizona
RE: Eaglemark loans. changable?
Also, Harley loans are simple interest. The more you pay extra, the less your minimum payment is. So, if you have great months with extra cash you can pay it down. Not so great month's, you can pay a less minimum payment. I did that with my softail and the $267.00 payment adjusted to $189.00, because they readjust the minimumpayment to match the term of the loan vs. thebalance due.
The extended warranty refund actually goes to the finance company and reduces your loan amount by the pro-rated amount, unless you tradefor a new bike and purchase a new plan instead of transferring the old one. Only in that case do you get a refund check made out to you, and yes they do take their sweet time sending it out.
Not too sure what happens if you paid the extended warranty in cash, but most likely the finance company still gets it, because they would just consider it part of the down payment. Dealers sure don't like to part with money!!
The extended warranty refund actually goes to the finance company and reduces your loan amount by the pro-rated amount, unless you tradefor a new bike and purchase a new plan instead of transferring the old one. Only in that case do you get a refund check made out to you, and yes they do take their sweet time sending it out.
Not too sure what happens if you paid the extended warranty in cash, but most likely the finance company still gets it, because they would just consider it part of the down payment. Dealers sure don't like to part with money!!
Outstanding HDF Member
Joined: May 2007
Posts: 2,754
Likes: 4
From: GA
RE: Eaglemark loans. changable?
I paid extra on mine ($75-$150 per month) and did not even have a minimum payment after a few months. I continued to pay and paid it off about two years early (approximately).
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