financing
Thread Starter
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Ultimate HDF Member
Joined: Apr 2008
Posts: 5,356
Likes: 8
From: Roswell, NM
financing
How does anyone feel about the financing procedure at the dealer, Eaglemark Bank? Im about to close the deal on a 08 RK, and am curious on how their interest is done?
Ultimate HDF Member
Joined: Sep 2007
Posts: 8,831
Likes: 15
From: Nomad
RE: financing
How do they choose interest rates? Like anyone, I suppose. Credit score/history, and they give you a rate accordingly.
Often you can get a better rate at a credit union.
But they are very easy to work with.
Often you can get a better rate at a credit union.
But they are very easy to work with.
Road Captain
Joined: Jul 2007
Posts: 718
Likes: 0
From:
RE: financing
I bought my bike last june and I got 2.99 which I thought was great. Don't know if that was a special or not. They have been ok but I haven't been late. I also got my insurance through the deal which is Foremost and it is reasonable.
Smiley
Smiley
Cruiser
Joined: Jan 2006
Posts: 119
Likes: 0
RE: financing
I am on my second loan with them and have had nothing but a great experience with them. It is simple interest so you can pay off early without penalty and the interest rate is very aggressive. They beat my bank with interest rate. Good Luck.
Stellar HDF Member
Joined: Mar 2008
Posts: 2,921
Likes: 33
From: Lewisberry PA
RE: financing
They beat my CU and bank rates. I would negotiate with them. Right now, they may be willing to go lower on there rates. Call you local lender and see what rates are. I agree it is easier to work with them.
Tourer
Joined: Mar 2008
Posts: 330
Likes: 2
From:
RE: financing
ORIGINAL: faber
How do they choose interest rates? Like anyone, I suppose. Credit score/history, and they give you a rate accordingly.
Often you can get a better rate at a credit union.
But they are very easy to work with.
How do they choose interest rates? Like anyone, I suppose. Credit score/history, and they give you a rate accordingly.
Often you can get a better rate at a credit union.
But they are very easy to work with.
I'd use HD/Eaglemark as the financing choice of last resort.
Advanced
Joined: Oct 2007
Posts: 89
Likes: 0
From: New Hudson, Mi.
RE: financing
I have money but I have terrible credit. Neither my bank or credit union would consider me for a loan with 20% down but Eaglemark did. I'm paying a very high interest rate with Eaglemark but at least I was able to get the bike when I wanted it. Its on a six years payment plan but it will be payed off in less than two years. If I had good credit, Eaglemark would have been my last choice.
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Road Master
Joined: Mar 2008
Posts: 911
Likes: 3
From: Venice, FL
RE: financing
It depends on who's in the finance chair. Many F&I guys will jack the rate to make a profit, regardless of your credit score. Some won't. My dealer beat all comers in interest rate, and I happily went with HD credit.
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Thread Starter
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Ultimate HDF Member
Joined: Apr 2008
Posts: 5,356
Likes: 8
From: Roswell, NM
RE: financing
Thanks for the comments, especially about simple interest. I think the finance guy must have had a brain fart when he said the interest compounds daily. Great for an IRA, but not a loan. I have great credit, so it shouldn't be an issue. He's quoting 6% right now, think we need to haggle some more.
