financing?
Tourer
Joined: Feb 2006
Posts: 423
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RE: financing?
tda69 "If he makes $150k + per year and has very few expenses for example, he would very easily be able to afford it. 2) Lenders, whether they be banks, finance companies, credit unions, etc.. are not the bad guys and aren't out to screw people. If it wasn't for them most people wouldn't be able to buy homes, cars or even motorcycles. C'mon guys lighten up a little and give us Banker types a break."
For the most part banks, finance companies and credit unions are pretty good. However, there are several finance companies that are out to screw people over who are already in over there head. Rather than decline a client they will approve the loan with 20% or higher interest. How can a person sleep at night charging 19 - 30%??? If that's not taking advantage of people I don't know what is. I have seen several people (since I worked in a bank for 4 years while attending college) who made 100K a year but would spend 120K a year! It's all about living within ones means...no more no less.
For the most part banks, finance companies and credit unions are pretty good. However, there are several finance companies that are out to screw people over who are already in over there head. Rather than decline a client they will approve the loan with 20% or higher interest. How can a person sleep at night charging 19 - 30%??? If that's not taking advantage of people I don't know what is. I have seen several people (since I worked in a bank for 4 years while attending college) who made 100K a year but would spend 120K a year! It's all about living within ones means...no more no less.
Stellar HDF Member
Joined: Nov 2005
Posts: 3,272
Likes: 83
From: Southern California
RE: financing?
LAWMAN-
Agreed. You and I are on the same page. Take a look at our Federal Deficit. It tells the same story of over spending and not living within our means. Greenspan has spoken before about how American's spend $1.12 for every dollar earned. The Chinese save 40% of their wages, most of the EU countries about 12-14%. The point I was trying to make earlier was that nobody knows the circumstances concerning the mans credit, income, etc...Therefore rather than rushing to judgment and lecturing him on how he should "fix" his problems and live within his means, I opted to answer his question and offer a few alternatives. One thing I've noticed about this forum, there are many well meaning people who share their insights and opinions, which is something that personally keeps me coming back. However, I've also noticed that sometimes lenghthy threads develop and all kinds of advice is given without actually knowing all the facts. I try to be as supportive as possible. At the end of the day, we're all adults here and people will make their own choices. Right?
Agreed. You and I are on the same page. Take a look at our Federal Deficit. It tells the same story of over spending and not living within our means. Greenspan has spoken before about how American's spend $1.12 for every dollar earned. The Chinese save 40% of their wages, most of the EU countries about 12-14%. The point I was trying to make earlier was that nobody knows the circumstances concerning the mans credit, income, etc...Therefore rather than rushing to judgment and lecturing him on how he should "fix" his problems and live within his means, I opted to answer his question and offer a few alternatives. One thing I've noticed about this forum, there are many well meaning people who share their insights and opinions, which is something that personally keeps me coming back. However, I've also noticed that sometimes lenghthy threads develop and all kinds of advice is given without actually knowing all the facts. I try to be as supportive as possible. At the end of the day, we're all adults here and people will make their own choices. Right?
Cruiser
Joined: Jan 2006
Posts: 177
Likes: 4
From: Conroe, TX
RE: financing?
I made a visit to the local dealer yesterday and talking with a saleslady she told me that interest rates run anywhere from 5.5% to 21.5% with Harley based on your credit. She said you would not believe how many people are paying the 21.5% rate because of the poor credit they have. What kind of score would you have to get a 21.5% and up to 84 months financing.
I feel for the less credit worthy who have made mistakes in the past and are trying to rebuild their credit where they would not have to pay these high rates.
I feel for the less credit worthy who have made mistakes in the past and are trying to rebuild their credit where they would not have to pay these high rates.
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sharpshooter
General Harley Davidson Chat
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Apr 28, 2012 10:25 PM
