So I'm shopping for a bike, and I find one locally that's just about $4000 more than my available cash, and the title is still held by Harley. So I email a couple of local dealers, thinking I'll consider the Seller's Assist progam.

Dealer 1 "only" charges their standard $399 document fee to process the paperwork.

Dealer 2 charges $500 to participate in the program PLUS their standard $399 doc fee.

Are you KIDDING me?

The only reason I was considering Harley financing is I figured there was less chance of a screwup in transferring the title if I borrowed from Harley to pay off Harley.

And I know that the dealership not only makes profit on every loan they write ... but my excellent credit helps them with EBS when they want to qualify someone with a lower score.

Both dealers lost their shot. I'll take a cash advance on my 0% credit card and pay the 5%, or take a personal loan from my credit union first.

And I'll buy the pipes and bags I want to add on off ebay.

Or maybe I'll just keep shopping and saving.

[/rant]

 

If it's the bike you want, you have the discipline to manage credit and your credit rating is good, I'd do the CC or CU option. Let's say you do the CC with a 5% advance fee. 5% on $4,000 is a $200 setup fee. Then, you just need to manage the any future balance transfers between cards that have a 0% teaser rate on transfers until you get the balance paid. I have done this on cards that were only for this purpose. Works great, especially since you get the title in your name!

 

If you have excellent credit, why don't you just go through your credit union?

You could probably get pre-approved and be all ready to go when you find your bike. Good Luck

 

Credit union won't finance bikes over 5 years old. And they want the vin on newer bikes before they'll "allow" me to apply for the loan.

I'm just frustrated ... I've said it before, and I'll say it again: The bikes I want I can't afford (without going into debt) and the bikes I can afford I don't want.

Oh well. I'll keep saving, and the right deal will come along at some point.

 

^^^^ Not true.

I just purchased a mint condition, show-quality 2002 Heritage Springer for $14k. I put $3,000 down, and financed $11,000 through my Credit Union at 9%

Yea, 9% isn't great, but I have TERRIBLE credit due to a little home incident a few years back.... and the bike is 10 years old..... so I was happy to get it. I'm taking my remaining cash ($1600) and investing in a 3-year HD extended warrantee, including wheel/tire coverage. All things considered, it's like buying a "new bike" with all the perks..... but without the lack of "character" that the new bikes seem to have.

$235 per month (5 years) is perfectly ok with me...... and I got my DREAM bike.... not just "some bike" that I settled for.

 

Shop around, I have a buddy who has 25% to put down on a RG, he found a garage queen that is older then his current credit union will loan for. He shopped around & found one that would. Just takes leg work. Keep your head up.

 

Tell your credit union or bank you want a personal loan (instead of a vehicle loan). If you have greatcredit that could work as long as they don't ask for collateral. Take the proceeds and buy the bike.

 

If i wanted the bike i wouldnt let $800 stop me from getting it

 

The way I add it up, it's not $800, but more like $1300

 

If you have excellent credit.
you can get the cash no madder what your buying.