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Cost
Road Warrior
Joined: Aug 2014
Posts: 1,937
Likes: 320
From: Vancouver, WA
Good for you! Thats one nice looking trike, BTW. Enjoy the hell out of it. Sounds well deserved too!
Tourer
Joined: Jan 2015
Posts: 279
Likes: 72
From: Virginia
I'll have a #3 please. Some people are so afraid of leverage and it costs them money. I financed $25k for 5 years, 2.5%. I paid $1600 in interest over 5 years... That's $300/year... $25/month - not a whole lot. That $25k sat in an investment and earned me over $10k in that 5 years and I didn't have to lift a finger.
Road Master
Joined: Feb 2022
Posts: 848
Likes: 402
From: Oklahoma
My last three bikes were purchased brand new. Triumph America in 05. 120,000 miles. Dumped a lot of money into that bike. Sold it for $3,000 dollars. Harley Fatboy 2010. Still own it but even at the five year mark bike had over 90,000 miles. No money there. 2015 Triumph Rocket X. Still own it but even after complete rebuild at 100,000 miles no money there. My point of all this is I have never bought a bike as an investment. Really good credit score and got some nice financing on all three bikes. Average miles in first year of all three bikes shut down any profit margin in selling the bikes. The Rocket X is a limited edition bike only 500 made world wide. Now I believe the number is down to about 375 of them left world wide. If iI was lucky might get around $10,000 for it and I mean Lucky. I can understand someone paying a lot for a CVO they are good looking bikes. Especially if you do not turn a wrench. I do not mean that in a negative way at all. Some folks do not have the time or desire to do such a thing. In the slow process of rebuilding the Harley. To get it how I want it to be is going to run just North of $30,0000 dollars. The idea of selling the bike and regrouping my built cost would be insane. Never going to happen. I have never bought a bike and even thought about making a profit off of it if I sold it. My interest is in the ride period. Would I buy a CVO $5,000 over suggested retail? NOPE
Last edited by sonny4; Nov 25, 2022 at 12:02 PM.
Grand HDF Member
Joined: Mar 2010
Posts: 3,753
Likes: 3,170
From: Central Indiana
In '17 I got hit head on sitting still on my '14 UL. Insurance company was kind of waffling on totaling the bike. I told the shop get it totaled I will buy that CVO Ltd in the showroom. They did and I did. I think it was 43k. Bought the extended warranty and some other extras, but had I bought a UL and put all the extras on it it would have been more. Now has 77k miles, just did a stage 3 on it. Still happy.
Novice
Joined: May 2022
Posts: 19
Likes: 2
From: Virginia
Harley owners come from all socioeconomic backgrounds. Everyone makes their own financial decisions on how to pay for their bike. But I think of it in these terms. YMMV
1. Drops $40k cash on a Harley and it doesn't affect their wallet.
2. Buys a new Harley with cash savings and is happy.
3. Buys a new Harley and finances it at 3% - 5%. Could pay cash but puts their money to work and earns an 18% return. Loan payment doesn't make a blip on the radar in monthly expenses.
4. Buys a new Harley and finances it because they don't have an extra $30k in the bank to spend on a toy. Loan payment is affordable and budgeted for each month.
5. Buys a new Harley and finances it because they don't have an extra $30k in the bank to spend on a toy. Has to make sacrifices and the payment is a big stretch.
6. Buys a new Harley and finances it paying 15% interest because their credit score is 550. Finally realizes they can't afford the bike and sells it 6 months later but they're upside down in the loan.
My guess is that most Harley owners are in categories 3-5.
1. Drops $40k cash on a Harley and it doesn't affect their wallet.
2. Buys a new Harley with cash savings and is happy.
3. Buys a new Harley and finances it at 3% - 5%. Could pay cash but puts their money to work and earns an 18% return. Loan payment doesn't make a blip on the radar in monthly expenses.
4. Buys a new Harley and finances it because they don't have an extra $30k in the bank to spend on a toy. Loan payment is affordable and budgeted for each month.
5. Buys a new Harley and finances it because they don't have an extra $30k in the bank to spend on a toy. Has to make sacrifices and the payment is a big stretch.
6. Buys a new Harley and finances it paying 15% interest because their credit score is 550. Finally realizes they can't afford the bike and sells it 6 months later but they're upside down in the loan.
My guess is that most Harley owners are in categories 3-5.
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