Current Financing on New Bikes
Grand HDF Member
Joined: Oct 2004
Posts: 3,842
Likes: 502
From: Northern WV
It appears interest from HD dealers is all over the spectrum. I wonder if HD allows + or -5% but leaves it up to the dealer who gains a bit by bumping the interest? Or is the lower interest just available on certain models, which would be an incentive?
Cruiser
Joined: Nov 2011
Posts: 142
Likes: 0
From: cincinnati
Have you ever heard the saying, "If you can't pay for it in cash, you can't afford it"?
I know lots of people who seem like they're living the "high life". Nice house, 2 new SUV's, boat, fancy hipster ipad phones, etc. etc. But its all financed! They don't "own" anything. These people have really just sold themselves into debt slavery for the rest of their life! That 250k house they have, they'll pay 500k for it on their 30 year mortgage. Same with everything else they financed.
Just save and do it " the old fashioned way" is what my opinion is. You work too hard for your money to be "nickled and dimed" to death.
I know lots of people who seem like they're living the "high life". Nice house, 2 new SUV's, boat, fancy hipster ipad phones, etc. etc. But its all financed! They don't "own" anything. These people have really just sold themselves into debt slavery for the rest of their life! That 250k house they have, they'll pay 500k for it on their 30 year mortgage. Same with everything else they financed.
Just save and do it " the old fashioned way" is what my opinion is. You work too hard for your money to be "nickled and dimed" to death.
Last edited by Johnny Nitro; Dec 2, 2011 at 10:13 AM.
Ultimate HDF Member
Joined: Feb 2006
Posts: 5,190
Likes: 5
From: Eastern Washington
Once you sort through all the mama's here telling you to pay cash, you can call the local credit union before going to the dealer. That way you know what the rate you can get. I bet the dealer will beat it. Dealers can also use different lenders, not just Eaglemark. I seen a flyer just the other day advertising 4% from Eaglemark. Much better than a couple years ago.
Road Master
Joined: Jun 2005
Posts: 1,212
Likes: 4
From: From Illinois; Currently Belgium
As for calling the disciplined "mamas" I won't comment. I just can't feel prosperous by showing off with someone else's money. Do what floats your boat, but remember, every time the the tide rolls back out, we all see who was skinny dipping.
Actually, I take that back, I will comment. Who the hell finds the logic in calling names to those who work hard, save, and pay cash? I have a wife and 3 boys and live on an active duty military salary, yet I saved enough for my bike and our new car. Did I mention my wife qualifies for WIC and my children qualify for reduced lunches? Somehow I drive new vehicles and a new Harley with a custom paint job, but have no debts, and I invest almost a quarter of my salary in mutual funds. It's so funny when those in debt find it noble to borrow money and feel superior to those who actually have sound finances.
Last edited by garand; Dec 2, 2011 at 12:03 PM.
Road Master
Joined: Nov 2005
Posts: 826
Likes: 0
From: Foothills of NC
If all you "i wont ride unless its paid for" people were as worried about actually investing your money as telling everyone how you wont finance anything you would know that your money could be making you more than the 3.9-4.9 % the others are paying. Send ole Dave Ramsey that scenerio and see what he says...i borrow money at less than my money is making me as much as DR hates borrowing and debt even he sees that is more financial sound than pulling all the pennies together to pay cash.
Cruiser
Joined: Nov 2011
Posts: 142
Likes: 0
From: cincinnati
If all you "i wont ride unless its paid for" people were as worried about actually investing your money as telling everyone how you wont finance anything you would know that your money could be making you more than the 3.9-4.9 % the others are paying. Send ole Dave Ramsey that scenerio and see what he says...i borrow money at less than my money is making me as much as DR hates borrowing and debt even he sees that is more financial sound than pulling all the pennies together to pay cash.
Road Master
Joined: Jun 2005
Posts: 1,212
Likes: 4
From: From Illinois; Currently Belgium
If all you "i wont ride unless its paid for" people were as worried about actually investing your money as telling everyone how you wont finance anything you would know that your money could be making you more than the 3.9-4.9 % the others are paying. Send ole Dave Ramsey that scenerio and see what he says...i borrow money at less than my money is making me as much as DR hates borrowing and debt even he sees that is more financial sound than pulling all the pennies together to pay cash.
BTW, it's not about putting all the pennies towards paying cash. It's about budgeting while investing and eventually accumulating the cash for the toy. Hell, I've been debt free since 31 years old. How many riding seasons have I missed by saving? It isn't a factor now, because I'm at the front of the race and just coasting downhill now.
Your theory is that you live in a perfect world where you consistently clear 4% in your investments just to break even with the loan APR. Let's not forget the taxes you have to pay. Then you failed to address or outline a risk equation. You put your (the bank's) assets at risk to only make a small gain in the end...that is if the market performs perfectly.
Last edited by garand; Dec 2, 2011 at 12:33 PM.
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Road Captain
Joined: Mar 2007
Posts: 651
Likes: 12
From: Broomfield, Colorado
It's interesting to hear that some people are getting decent rates from HD, I just went through this this week and the dealer said that HD wasn't even in the game right now for financing bikes. They had a couple of banks and a credit union that they were using. I bought from one of the biggest dealers around here, one would think that they'd be able to work with HD to get decent rates for people. Maybe they pissed off someone at corporate
Cheers,
Paul in Colorado
Cheers,
Paul in Colorado
Thread Starter
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2nd Gear
Joined: Nov 2011
Posts: 6
Likes: 0
From: Atlanta, GA
Haha! As I said, I knew this was going to open a can of worms. I appreciate the concern and advice, but I won't be paying cash for this purchase. Sure, I could save up the money and buy the bike for cash in a few years, but who knows if I even live that long. We're not guaranteed tomorrow.
As the title of the post stated, I just want to find out the rates / scenarios that most people are getting when they FINANCE a bike. No sense in grown men arguing over paying cash on something when I know that is not what I'm going to do.
With that said, though I appreciate your concern for the big picture outlook (and I do agree that paying cash makes more sense) please only respond if you have some real info regarding the FINANCING, the rates I can expect, where you got them, etc.......
It makes these forums much more informational and easier to have dialogue if everyone sticks to the point at hand.
Thanks,
outlaw
As the title of the post stated, I just want to find out the rates / scenarios that most people are getting when they FINANCE a bike. No sense in grown men arguing over paying cash on something when I know that is not what I'm going to do.
With that said, though I appreciate your concern for the big picture outlook (and I do agree that paying cash makes more sense) please only respond if you have some real info regarding the FINANCING, the rates I can expect, where you got them, etc.......
It makes these forums much more informational and easier to have dialogue if everyone sticks to the point at hand.
Thanks,
outlaw