Does Harley's Payment Calculator have anything to do with reality?
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Stellar HDF Member
Joined: Sep 2006
Posts: 2,780
Likes: 9,042
From: Monroe, NC
Does Harley's Payment Calculator have anything to do with reality?
The payment calculator on H-D's website.
You know, pick the bike, color, months financed and interest rate and it spits out a payment.
I know, I know.... it does not take taxes or extended warranty's into account.
But any reasonably intelligent person cansee that, and realize that you have to add on another $30.00 or $40.00 a month to account for these things.
Well, I tried to pull the trigger on a new Fat Bob yesterday, but the payments were not even close to what the payment calculator was saying.($245.00 per month)
I figured break even on my Sporty for the trade, put down $1000.00 in cash and should be about $275 a month for the Bob at 7.99 for 72 mos.
Best they could do was $330.00 per month with taxes and 5 year extended warrantywith no GAP insurance.
Also said they cant do 7.99 for 72 months, only for 60
(They paymentcalculator says differently).
I havebetter than averagecredit (780) and the best interest rate they could give me was 9.99 for 72 mos.
Unfortunatly I did not come home with the Fat Bob, $330.00 a month is a bit more than I can currently swing.
AmI barking up the wrong dealers tree here or what?......(H-D of Charlotte)
They're first quote with Gap insurance and they're first offer on the Sportster was was over $400.00 a month!!!
Quite a difference from the $245.00 the payment calculator quotes.
You know, pick the bike, color, months financed and interest rate and it spits out a payment.
I know, I know.... it does not take taxes or extended warranty's into account.
But any reasonably intelligent person cansee that, and realize that you have to add on another $30.00 or $40.00 a month to account for these things.
Well, I tried to pull the trigger on a new Fat Bob yesterday, but the payments were not even close to what the payment calculator was saying.($245.00 per month)
I figured break even on my Sporty for the trade, put down $1000.00 in cash and should be about $275 a month for the Bob at 7.99 for 72 mos.
Best they could do was $330.00 per month with taxes and 5 year extended warrantywith no GAP insurance.
Also said they cant do 7.99 for 72 months, only for 60
(They paymentcalculator says differently).
I havebetter than averagecredit (780) and the best interest rate they could give me was 9.99 for 72 mos.
Unfortunatly I did not come home with the Fat Bob, $330.00 a month is a bit more than I can currently swing.
AmI barking up the wrong dealers tree here or what?......(H-D of Charlotte)
They're first quote with Gap insurance and they're first offer on the Sportster was was over $400.00 a month!!!
Quite a difference from the $245.00 the payment calculator quotes.
Cruiser
Joined: Oct 2007
Posts: 223
Likes: 2
RE: Does Harley's Payment Calculator have anything to do with reality?
i think i would shop around for your financing. my credit union gave me a loan for 4.75% , with automatic deduct from my account. granted my situation is different than yours, but you should be able to get a better interest rate than 9.99. in fact i just checked my credit union and their rate for new vehicles is 5.70% for 66 months, including bikes. good luck.
Road Warrior
Joined: Sep 2007
Posts: 1,373
Likes: 0
From: Taylor Mill Kentucky
RE: Does Harley's Payment Calculator have anything to do with reality?
The payment calculator can only compute what you enter. Get the bottom line number, plug in the interest rate and months and it will be the same from HD, Credit Union or Local bank.
Tourer
Joined: Oct 2007
Posts: 439
Likes: 22
From: League City, Texas
RE: Does Harley's Payment Calculator have anything to do with reality?
Go to Interest.com for payment calculators. They figure tax, downpayments, ect... and Yes, the dealer can do 7.99 for 72, I know cause its what I did. They are just trying to make a little on the back end of the deal on you.
Outstanding HDF Member
Joined: Jul 2007
Posts: 2,004
Likes: 12
From: Parkton, Maryland
RE: Does Harley's Payment Calculator have anything to do with reality?
Never pay finance charges on insurance. Finance the bike but purchase insurance and the extended warranty separately.
Road Warrior
Joined: May 2006
Posts: 1,479
Likes: 4
From: SoCal
RE: Does Harley's Payment Calculator have anything to do with reality?
Taxes, licensing and registration add 10% on average to the retail cost. Subtract the down payment and plug it into your calculation: cost X interest rate (X0.01) X time (in years)/ # of months (in years) = monthly payment. Forget gap insurance and extended warranties, these are padding devices with huge profit margins whose purpose is to seperate you from your money, and wed you to the dealership. 
Road Captain
Joined: Apr 2007
Posts: 573
Likes: 2
From: Central, Wisconsin
RE: Does Harley's Payment Calculator have anything to do with reality?
You have to be careful when you get to the dealer. I went to two different dealers and was given different rates. I decided to go through a credit union. Know your credit and get the lowest rate.
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Road Warrior
Joined: Dec 2005
Posts: 1,950
Likes: 2
From: Colorado Springs, CO
RE: Does Harley's Payment Calculator have anything to do with reality?
Money is a commodity, just like a bike. Shop around and get a good deal. Your current financial status and credit rating will have a remarkable effect on not only your interest rate, but also on your insurance quote.
The payment calculater is pretty accurate. But only for the numbers you plug in. Your dealer plugged in extra numbers. Tax, title, license, added chrome, insurance, warrenty, etc. All those extra numbers are what changed the final payment number.
I ended up with HD credit. Better deal than I could get through my bank or credit union. Maybe because I only financed a portion of the bike, and paid cash for the rest.
The payment calculater is pretty accurate. But only for the numbers you plug in. Your dealer plugged in extra numbers. Tax, title, license, added chrome, insurance, warrenty, etc. All those extra numbers are what changed the final payment number.
I ended up with HD credit. Better deal than I could get through my bank or credit union. Maybe because I only financed a portion of the bike, and paid cash for the rest.
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Intermediate
Joined: Jul 2007
Posts: 31
Likes: 0
RE: Does Harley's Payment Calculator have anything to do with reality?
Ask the stealer what the buy rate is, they are marking the rate up costing you $$$,so on a $20,000 deal for every point they mark it up they make another $200.00, 3 points would be $600.00,now figure what those points cost you over the life of the loan, more than $600.00 I bet.
