To payment or not??
I did the same exact thing a few years ago and later found out that if you attempt to get the loan yourself, the payment will be considerable amount lower, opposed than going thru a dealer.
Call you bank and ask them to see where you would be payment wi and also ask what APR you would be at, I am willing to bet it is lower.
I hope this helps.
Call you bank and ask them to see where you would be payment wi and also ask what APR you would be at, I am willing to bet it is lower.
I hope this helps.
Outstanding HDF Member
Joined: Oct 2011
Posts: 2,509
Likes: 1
From: Southeast WI
Well, sir, I imagine there a lot of suckers on here then. Having a payment for a car or a bike or a boat or whatever is a personal choice, and shouldn't result in the person making the choice being called a derogatory name. You're entitled to your opinion and you have the right of free speech. Neither means I have to agree with you - and I don't. The Forum should be more about supporting fellow riders, not bashing them.
Tourer
Joined: May 2010
Posts: 353
Likes: 7
From: East Tennessee
I too was in the dealership 2 weeks ago. I had my radio replaced (lcd went out) on my 07 Roadglide. I heard the scream from a new Roadglide Ultra. She screamed out look at all of my bigger engine, accessories, tour pack, faring lowers, cb radio and intercom. She was a hottie! Then I looked at how much cycle gas, weekend hotel rooms, beer and food I could buy with that payment. I think I will have a better time spending that money rolling up more miles on my '07. She has 45,000 miles and still looks and runs like new.
Cruiser
Joined: Apr 2013
Posts: 180
Likes: 3
From: Ball Ground, GA
Don't do it!
I was "had" by the dealer hook, line, and sinker. My wife and I are very financially savvy and don't waste money.
Somehow early this spring I got the idea in my head to go look at Harleys, and ended up with a 04 Sportster 1200c for 48 months at 8.99%, about $125/month.
I am the poster child now for getting sold on an emotional purchase. I wish now I had never done it and am now trying to figure the best way to get rid of it. It would take a huge chunk of our savings to pay it off completely, get the title in hand, and privately sell it. I'm even considering throwing it on our 10% credit card with a high limit just to get the title in hand and list it on craigslist or something.
Why? We've decided to have a baby and I don't want the money wasted on $125 payment plus monthly insurance when I'll need it for baby stuff.
I was "had" by the dealer hook, line, and sinker. My wife and I are very financially savvy and don't waste money.
Somehow early this spring I got the idea in my head to go look at Harleys, and ended up with a 04 Sportster 1200c for 48 months at 8.99%, about $125/month.
I am the poster child now for getting sold on an emotional purchase. I wish now I had never done it and am now trying to figure the best way to get rid of it. It would take a huge chunk of our savings to pay it off completely, get the title in hand, and privately sell it. I'm even considering throwing it on our 10% credit card with a high limit just to get the title in hand and list it on craigslist or something.
Why? We've decided to have a baby and I don't want the money wasted on $125 payment plus monthly insurance when I'll need it for baby stuff.
Road Master
Joined: Aug 2010
Posts: 770
Likes: 1
From: Coeur d' alene, Idaho
Now that I am up in years I have the advantage of 20/20 hindsight. Most young people (including my son) have the need for immediate gratification and satisfy it with debt. Once you get under the weight of payments, you never get ahead. Be patient and put the equivalent of the payment in savings until you have enought to pay cash from a private party.
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Elite HDF Member
Joined: Oct 2009
Posts: 4,416
Likes: 88
From: San Quirino, Italy
Now that I am up in years I have the advantage of 20/20 hindsight. Most young people (including my son) have the need for immediate gratification and satisfy it with debt. Once you get under the weight of payments, you never get ahead. Be patient and put the equivalent of the payment in savings until you have enought to pay cash from a private party.
Road Master
Joined: Aug 2010
Posts: 770
Likes: 1
From: Coeur d' alene, Idaho
Agree if you have the nest egg to back it up. But if you can't afford to pay for a depreciating asset like a motorcycle, going into debt to accomplish the task is foolish IMHO. I know, I was young and foolish once and once I figured it out, I was headed on the right road, again IMHO.