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I'm lucky enough to have paid cash for cars, bikes and even my current home. Last tlme I had a payment on a vehicle was almost 20 years ago. I say lucky, but I worked hard all my life for it.
MY CU is at 6.02% for top tier credit for moto loans. Anything 6% or below is fair with the fed rates as high as they are right now.
With that said, my buddy who is a sales manager at a dealership says most buyers have horrible credit and told me the last time I was in there, they were financing a used bike for someone with a 500 credit score at close to 25%. He expected a repo withing 4 months.
Sadly, those who can afford to pay the least, usually pay the most.
MY CU is at 6.02% for top tier credit for moto loans. Anything 6% or below is fair with the fed rates as high as they are right now.
With that said, my buddy who is a sales manager at a dealership says most buyers have horrible credit and told me the last time I was in there, they were financing a used bike for someone with a 500 credit score at close to 25%. He expected a repo withing 4 months.
Sadly, those who can afford to pay the least, usually pay the most.
Sad is that people are not educated in this regard. Not talking college level economics, just basic money. Ability to count change is a lost skill/need.
Who actually applies for these ridiculous terms? Years ago my HD dealer told me that EMB has some of the highest loan rates, and to avoid them. My own dealer! The third example is the only pseudo-reasonable rate offered. What do the broke folks with crappy credit do? Wow.
They don't buy Harleys because they can't afford them. 96 month loan term? REALLY? Our Education system needs MAJOR overhauling if it isn't teaching at least some basic form of financial understanding.
Sad is that people are not educated in this regard. Not talking college level economics, just basic money. Ability to count change is a lost skill/need.
Sorry, I didn't mean to plagiarize your post about education. I made my post right after I read Strych's original post, without reading the rest of the thread. Like you, I've been advocating for this Educational System update for years. Kid's graduating high school and can't balance a check book. Heck, their financial knowledge for some is if they still have checks, they still have money in the bank! I kid you not!
Sad is that people are not educated in this regard. Not talking college level economics, just basic money. Ability to count change is a lost skill/need.
It's probably the first three divorces that did them in and the mandatory child support allotments
So I usually use Navy Federal Credit Union and just looked up their rates...New 7.95% up to 72 months, 9.3% with 84 months. Used was at 10.05% up to 60 months. Looking at the posted rates by Eaglemark they seem to be right in line with the crappy rates of today's world. I'd wait if was in the market.
7 Surprising Harley-Davidson Products that Are Not Motorcycles
Slideshow: The bar-and-shield logo shows up on far more than motorcycles, some of the company's most unexpected products have nothing to do with riding.
Slideshow: From the troubled AMF years to modern misfires, these bikes earned reputations for reliability issues, questionable engineering, or disappointing performance.
Crazy Bunderbike Build Looks Amazing, But Is It Impossible to Ride?
Slideshow: The Swiss custom shop has taken a Harley Softail and stretched it into something so long and low that it looks closer to a rolling sculpture than a conventional motorcycle.
Engraved Rebellion: Inside Bundnerbike's Glam Rock II
Slideshow: A standard cruiser becomes an intricate metal canvas in the hands of a Swiss custom house known for pushing Harley-Davidson platforms far beyond their factory brief.
Slideshow: Harley-Davidson's challenges aren't abstract; they show up in dropping shipments, shrinking dealer traffic, and strategic decisions that aren't yet translating into growth.
