HD Financing
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Cruiser
Joined: May 2013
Posts: 146
Likes: 0
From: Valdosta, GA
HD Financing
Well my hope of buying my first motorcycle may be shattered. Went and looked at a 2013 Superlow and a 2004 XL883C. The new one was $10,280 out the door, and the 2004 with 21,000 miles was $5,385 out the door.
Applied for financing and my score was 642. I know not the best but the finance guy said the interest rate would be 24%. I told him there is no way in hell I will pay that rate. I told him to lower it way down. He said he can't as it is set by Eaglemark and they do not mark it up. So I walked out that is way to high of a rate.
Applied for financing and my score was 642. I know not the best but the finance guy said the interest rate would be 24%. I told him there is no way in hell I will pay that rate. I told him to lower it way down. He said he can't as it is set by Eaglemark and they do not mark it up. So I walked out that is way to high of a rate.
Tourer
Joined: Dec 2012
Posts: 431
Likes: 2
From: St. Louis, MO
You can try getting financing at any bank. Give a few banks a call, they don't have to be local banks. Try finding some banks online.
-Beer
-Beer
Last edited by iwantmybeerbackplease; May 12, 2013 at 04:06 PM.
Road Captain
Joined: Oct 2010
Posts: 543
Likes: 2
Ya that is crazy, you may need a co-signer. Im sure if you put 1-3 grand down it will drop for sure. It happened to me as well, when i got my bike 3 years ago i got mine for 10% after the first year of paying more than my monthly payments i asked if they could recalculate and it droped to 8%. I moved to Germany and it dropped to 5.4%. My credit at the time was 590's from eaglemark.
So i think they just want to get the most out of you as possible. Im sure if you told them you wanted a DYNA or something that is upwards of 14-16k they will give you a better %rate. They want to make money.
So i think they just want to get the most out of you as possible. Im sure if you told them you wanted a DYNA or something that is upwards of 14-16k they will give you a better %rate. They want to make money.
Tourer
Joined: Jul 2012
Posts: 285
Likes: 0
From: Massachusetts
Credit union is your best bet. My credit was not much better than yours. I got 17% through Harley. 6 months later refied for 6.5% through credit union. 24 is way high but if you really want it you can bite the bullet until your credit comes up a little then refinance.
Big Kahuna HDF Member
Joined: Dec 2012
Posts: 322,622
Likes: 3,077
From: .....
I would have walked out when they said 24% too. That's crazy. Try other means to get the money. Don't give up!
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Cruiser
Joined: May 2013
Posts: 146
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From: Valdosta, GA
Thanks for the reply's. I am going to cu's tomorrow and see what happens. I also talked to the dealership in Tallahasse and he says he could easily beat the price on the 2013 by a couple of thousand dollars. He also claims the rate through them would be much better through the same eaglemark Hd financing so I will see what he says tomorrow.
I have no idea how the rate could be much better if the local people did not mark up the rate as they claimed. We will see.
I have no idea how the rate could be much better if the local people did not mark up the rate as they claimed. We will see.
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Tourer
Joined: Dec 2012
Posts: 431
Likes: 2
From: St. Louis, MO
+1... I forgot about credit unions. Like other's said, usually you can't beat their rates but that will also depend on credit. Good luck to you, I hope you get your bike.
-Beer
-Beer
Last edited by iwantmybeerbackplease; May 12, 2013 at 04:36 PM.
Tourer
Joined: May 2012
Posts: 252
Likes: 0
From: Southern California
They don't call em stealerships for nothing. They make more giving you a higher rate.