What is the best interest rate . . .
#21
03-27-2012, 01:33 PM
Seasoned HDF Member
My buddy is buying a 2012 SG as we speak. So far best HD financing in the NY area is 4.9% for 60 months.. Price for the bike is list less $400 with ABS, Cruise & Custom Color. No assembly $$$. Another dealer is $300-400 less but is adding 1300 setup & delivery fees. Still working the price.
#22
03-27-2012, 03:18 PM
Extreme HDF Member
OP did you ask for the interest rate for a shorter pay off period? I have never used a dealership for a loan always my bank. Does HD have early pay off fee/fine depending on how you look at it?
I always put at least 40-50% down I figure if I can't save a bit for it I don't deserve it. And I try to do a double payment every month because my bank doesn't penalize me for early payoff...
Anyhow, wondering if they would give you a lower rate for a shorter pay off. I thought I had read somewhere that 48 or even worse 72 month terms can sometimes garner bigger interest rates as they see it as someone may be over extending.
The idea that many people now a days do 60 or 72 month loans just baffles me.
I always put at least 40-50% down I figure if I can't save a bit for it I don't deserve it. And I try to do a double payment every month because my bank doesn't penalize me for early payoff...
Anyhow, wondering if they would give you a lower rate for a shorter pay off. I thought I had read somewhere that 48 or even worse 72 month terms can sometimes garner bigger interest rates as they see it as someone may be over extending.
The idea that many people now a days do 60 or 72 month loans just baffles me.
#24
03-28-2012, 07:45 PM
I purchased last week, the local dealer participated in the HD finance program on 2012's. My score was 762 and I got 1% on my 2012 RKC. Offer ends on March 31. It was avaliable on transferred (possibly only from their other two stores not sure) or soon to be delivered bikes not just what was on the floor as long as it was a 2012 model and the sale was completed before close of business on 31 March. Plus this finance offer also got you $500 credit in accessories that can be used anytime until the end of the year. The store also gave an additional 10% savings on accessories purchased within 30 days.
#26
03-29-2012, 10:36 PM
Road Master
3.99 is best around here. Just picked up a used Road King Tuesday. Best Harley credit would do is 8.99% for me with a 764 rating. Called Credit Union next day and had 3.99% no problem.
#27
03-30-2012, 06:15 AM
Ok, now a dumb question as I have never financed a vehicle this way; if I go to a bank for a loan do I need to specify it's for a motorcycle or can I just get a personal loan and pay off my balance? This is including trading in my Deluxe so the money owed would prolly be around $11,000 if I don't put any other money down. Thanks.
#28
03-30-2012, 09:55 AM
You can't beat 1% if you can find it at a dealer. I ended up with 2.88% on a 36 month loan through my local credit union a few months back. Which is about as close as you are going to get to free money.
#29
03-30-2012, 03:42 PM
Road Master
Ok, now a dumb question as I have never financed a vehicle this way; if I go to a bank for a loan do I need to specify it's for a motorcycle or can I just get a personal loan and pay off my balance? This is including trading in my Deluxe so the money owed would prolly be around $11,000 if I don't put any other money down. Thanks.
#30
04-03-2012, 07:51 PM
Cruiser
Join Date: Mar 2012
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Ok, now a dumb question as I have never financed a vehicle this way; if I go to a bank for a loan do I need to specify it's for a motorcycle or can I just get a personal loan and pay off my balance? This is including trading in my Deluxe so the money owed would prolly be around $11,000 if I don't put any other money down. Thanks.
As far as personal vs bike loan. In almost all cases a $11000 bike loan interest rate will be less than a $11k personal loan. This is due to the bike being collateral if you default the loan.