HD Financing
Elite HDF Member
Joined: Apr 2010
Posts: 3,733
Likes: 9
From: MA
I got a decent rate through HD a couple years ago (6.xx%), they didn't want anything down and it was for 6 years.
In my area, banks and credit unions won't touch bike loans, so not much of a choice anyway. And the few that even though about it, would not go more than 4 years.
In my area, banks and credit unions won't touch bike loans, so not much of a choice anyway. And the few that even though about it, would not go more than 4 years.
Road Master
Joined: Apr 2012
Posts: 1,229
Likes: 240
From: On 2 rails...
I'm shopping now for credit, I let the Harley finance guy do a soft hit and I have an 805 score. He said he could get me 5.99, my credit union doesn't like motorcycles and is 6.1 as long as you're over 720. I really thought it would be a better rate.
The credit union has a user friendly website that allows one to pay weekly or bimonthly, a 5 year loan can be paid off in 4 years or less by paying 25% of the monthly payment weekly, adding $5.00 a week to that makes a big difference also.
I guess for a 0.2% difference that I'm going to go with the one I know, w/no hassles for paying it off quicker.
The credit union has a user friendly website that allows one to pay weekly or bimonthly, a 5 year loan can be paid off in 4 years or less by paying 25% of the monthly payment weekly, adding $5.00 a week to that makes a big difference also.
I guess for a 0.2% difference that I'm going to go with the one I know, w/no hassles for paying it off quicker.
Road Warrior
Joined: Jul 2012
Posts: 1,556
Likes: 521
From: San Angelo, Tx
Harley couldnt do better than 6 or 7% for me, so I went with my local bank at 2.9%. They treat a bike just like any other form of transportation so the terms were super easy. I think Harley knows they are gonna make enough on the Saturday impulse buyers and guys who dont wanna mess with a local bank that they dont have to come down on interest rates.
Extreme HDF Member
Joined: Dec 2010
Posts: 14,778
Likes: 69
From: Badlands of ND
Several years ago I got a loan and the best rate was from HD. I think they only wanted $1000 down. When I got my Heritage the local credit union beat thier rate, got it for 1.9% The finance gu at HD was the one who told me about the Credit Union, so I guess you could say I got both loans through HD.
Elite HDF Member
Joined: Feb 2008
Posts: 3,817
Likes: 2
From: Novi MI
When I bought my EG, I knew what the rate was from my credit union. The HD rate was cheaper. I can't remember if I told them first or not but the point is you should walk in there knowing the lowest rate you can get from a lender before you buy the bike. Credit unions are usually the best. Usually, the dealership can match or beat it. If you don't ask, they'll give you the highest rate they think they can screw you over with because they get the extra financing as profit.
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Road Warrior
Joined: Sep 2011
Posts: 1,478
Likes: 64
From: West Liberty, Ohio
FYI - do not ever make 2 payments to HD in one month, they take interest on each payment, make one big payment. my credit union applies payments in an ethical/expected manner. HD offered me 19% and $20K, that made me laugh and I understood why their are so many owners in a bind. I put 72% down(28k total sale) and paid it off in 5 months.
Cruiser
Joined: Sep 2010
Posts: 210
Likes: 14
From: VA
If you can wait around until Harley has an offer of 0.9% or 1.9% and have good enough credit to qualify then that's the best deal.
At the time, Eaglemark could not even come close to what my credit union offered me. Your name is purple heart dog so I assume you're military and shouldn't have any issues opening an account at any credit union. Check out Andrews Federal Credit Union. When I was looking around nobody could beat them. They didn't care that it was a motorcycle and they financed 100% of the bike (street glide) for 2.89%.
Here's where eaglemark could be better: They will finance all the goodies that you want to get put on the bike as well. Exhaust, A/C, sissy bar, all that crap.
I'm not sure if andrews would have done that. I didn't try. They just wanted to see the purchase order. The goodies would have been on that too but it clearly shows that they are not a part of the price of the motorycle. I'm sure if the loan officer is cool they could count it as packages you know, like for a car.
Good luck. Hope this helps.
At the time, Eaglemark could not even come close to what my credit union offered me. Your name is purple heart dog so I assume you're military and shouldn't have any issues opening an account at any credit union. Check out Andrews Federal Credit Union. When I was looking around nobody could beat them. They didn't care that it was a motorcycle and they financed 100% of the bike (street glide) for 2.89%.
Here's where eaglemark could be better: They will finance all the goodies that you want to get put on the bike as well. Exhaust, A/C, sissy bar, all that crap.
I'm not sure if andrews would have done that. I didn't try. They just wanted to see the purchase order. The goodies would have been on that too but it clearly shows that they are not a part of the price of the motorycle. I'm sure if the loan officer is cool they could count it as packages you know, like for a car.
Good luck. Hope this helps.