Financing a bike from a private seller
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3rd Gear
Joined: Jun 2011
Posts: 7
Likes: 0
From: Joliet, IL
Financing a bike from a private seller
Anyone have any advice or experience with getting a motorcycle loan when buying from a private seller?
One of my company's executives is selling his '09 road king classic and he wants me to have it instead of selling it to some stranger. None of the 3 banks I have accounts with offer loans for motorcycles. It'll be a few months before I can pay cash for it so if I want to get any riding done on it this year, I'd need to get a loan.
Anyone on here know of resources for someone in my situation?
Thanks a bunch.
One of my company's executives is selling his '09 road king classic and he wants me to have it instead of selling it to some stranger. None of the 3 banks I have accounts with offer loans for motorcycles. It'll be a few months before I can pay cash for it so if I want to get any riding done on it this year, I'd need to get a loan.
Anyone on here know of resources for someone in my situation?
Thanks a bunch.
Stellar HDF Member
Joined: Jan 2007
Posts: 3,447
Likes: 163
From: Northern VA
Anyone have any advice or experience with getting a motorcycle loan when buying from a private seller?
One of my company's executives is selling his '09 road king classic and he wants me to have it instead of selling it to some stranger. None of the 3 banks I have accounts with offer loans for motorcycles. It'll be a few months before I can pay cash for it so if I want to get any riding done on it this year, I'd need to get a loan.
Anyone on here know of resources for someone in my situation?
Thanks a bunch.
One of my company's executives is selling his '09 road king classic and he wants me to have it instead of selling it to some stranger. None of the 3 banks I have accounts with offer loans for motorcycles. It'll be a few months before I can pay cash for it so if I want to get any riding done on it this year, I'd need to get a loan.
Anyone on here know of resources for someone in my situation?
Thanks a bunch.
Seasoned HDF Member
Joined: Mar 2009
Posts: 24,682
Likes: 9,163
From: Snow Hill, NC
DH buyer assist, Credit union, Capital one...Go to cycle trader.com they also have some resources.
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Joined: May 2011
Posts: 68
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From: Lake County , Florida
Hey travisrusselldc
I may be wrong but I believe Harley Davidson has a program for private sales visit there web site and /or contact a reputable dealer , through eagle-mark I think Harley can help
I may be wrong but I believe Harley Davidson has a program for private sales visit there web site and /or contact a reputable dealer , through eagle-mark I think Harley can help
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Tourer
Joined: Jun 2010
Posts: 271
Likes: 1
Credit unions tend to have best rates. I checked more than a dozen before choosing the MSU federal credit union from Michigan State University. I did everything online and by phone, no need to go to branch. My 5 yr rate is 3.99% I'm not sure what current rates are set.
Outstanding HDF Member
Joined: Jun 2011
Posts: 2,062
Likes: 4
From: Boca Raton, FL
Stay away from Harley unless you have to, the dealer charges you to do the deal and down here the local wanted $500 to process the deal
I just bought mine last week, called a local credit union (that I didn't even have an account with yet) they took care of everything after my application was processed (which took all of 5 mins on the phone)
the private seller and I met at the branch, they had already contacted Harley for his payoff amount, they did a quick verification on the VIN and visual inspection on the bike, we went inside, did my paperwork and within 45 mins from start to finish the bike was mine, AND all at no charge to me or the seller.
They collected sales tax, charged me $75 for title transfer (which is the fee the state of FL charges anyone) charged my $78 for tag transfer (b/c I had my own tag coming off my bike I had just sold) and that was it we were done.
rate was 6.25 for 48 mos
I just bought mine last week, called a local credit union (that I didn't even have an account with yet) they took care of everything after my application was processed (which took all of 5 mins on the phone)
the private seller and I met at the branch, they had already contacted Harley for his payoff amount, they did a quick verification on the VIN and visual inspection on the bike, we went inside, did my paperwork and within 45 mins from start to finish the bike was mine, AND all at no charge to me or the seller.
They collected sales tax, charged me $75 for title transfer (which is the fee the state of FL charges anyone) charged my $78 for tag transfer (b/c I had my own tag coming off my bike I had just sold) and that was it we were done.
rate was 6.25 for 48 mos