Motorcycle loans

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Jun 10, 2010 | 06:05 PM

#51

capitalist_slave

Road Warrior

Joined: Aug 2009

Posts: 1,345

Likes: 0

From: south Texas

Quote:

Originally Posted by BennieSG

He asked for advise on loans, not speech's about saving money and paying cash. I am sure if he had the cash to pay he would not be here asking who's got the best rates. I

Quote:

Originally Posted by MetalSpike

I believe the OP asked where people financed their bike and what the APR is. NOT if he should finance or not. You want to preach, start another thread.

Buy the bike, tomorrow is promised to no one.

He also posted it on a public forum... that's worse than asking it within earshot of his mother-in-law...

Quote:

Originally Posted by Seascape

20 bux says that 90% of the people saying dont finance have bike loans.

Not me, maybe some... and they may have learned the hard way and want to advise someone to do differently.

Quote:

Originally Posted by 1badbagger

I have a 20 year marriage that is stronger and better than 99.99 % of all marriages !!!
Sorry to disappoint you.

Jun 10, 2010 | 06:15 PM

#52

Plow64

Stellar HDF Member

Joined: Jan 2007

Posts: 3,447

Likes: 163

From: Northern VA

Go ahead and take out a loan if you can get a decent rate and have a stable income stream. Pay off the loan early, and build up your credit score in the process. Make sure there's no pre-payment penalty.

Or, as some suggest, save an extra $350 a month for the next 4-5 years and you can pay cash...

.....but say good bye to 4-5 years of prime riding time.

Jun 11, 2010 | 11:05 AM

#53

lh4x4

Extreme HDF Member

Joined: Dec 2007

Posts: 13,402

Likes: 941

From: Illinois

I believe in paying cash for toys. I waited until I was 67 to get my first HD. I'm 70 now and have 5 in the garage. I ride them all over the US and Canada.

My plan is to cover 49 states by the time that I am 72. Starting out in a couple weeks to knock off 4 more.

Jun 11, 2010 | 11:09 AM

#54

Bam Bam

Tourer

Joined: May 2010

Posts: 350

Likes: 1

From: Spotsylvania, VA

I agree...go with a Credit Union if you're a member. If not, look for a Credit Union to join.

Jun 11, 2010 | 11:48 AM

#55

arcticharleyman

Outstanding HDF Member

Joined: Jan 2009

Posts: 2,145

Likes: 2

From: Ontario East

I don't know what the Credit unions are like in the USofA, but here I think they charge an arm & a leg. I found the banks give the best rates on those types of loans. I have a great line of Credit which gives me Prime rate.
I don't know what your credit rating is but sit down at your computer and search online for the best rates with Credit Unions, local banks (you might want to open a new account at the bank that gives you the best rate if that's the way you want to go), or maybe a friend will also make a loan at a special rate. Would the seller take monthly payments?
In any case, good luck on your purchase. I'm sure you will love the bike.

Jun 11, 2010 | 11:58 AM

#56

JDSski

Novice

Joined: Feb 2008

Posts: 23

Likes: 0

HD (Eaglemark) is promoting 1% on 2009 Nightster, XR1200, 1200 Custom, and 1200 Low motorcycle models and new, untitled 2010, 2009 and 2008 V-Rod MUSCLE, Night Rod, Night Rod Special, and V-Rod (of course you have to qualify)

http://freecountry.harley-davidson.c...de/landing.php

Jun 12, 2010 | 03:08 AM

#57

EHLTB66

Tourer

Joined: Feb 2010

Posts: 468

Likes: 0

From: N.E. Oh.

+1 on credit unions, thats how I financed mine. I had a trade in plus cash so the bike is worth more than I owe, even with depreciation. A credit score around 800 helps too.