Does this make sense to anyone?
Tourer
Joined: Apr 2009
Posts: 461
Likes: 21
From: Providence
Seasoned HDF Member
Joined: Jan 2007
Posts: 20,616
Likes: 4,440
From: anacoco, la
unlike a lot of people around here, i'm not going to tell you to just suck it up and save your money until you can pay cash for the bike. but, I will tell you that this deal is a mistake. I have a cvo. no, I didn't pay cash. I financed it. but I did it smartly (imo). I started off with a sportster. paid that off early and had no payment for a while. traded in on a roadking. made extra payments there and paid it off early as well. again, no payments for a while. traded that in on my roadglide. extra payments but this time I traded it in just before it was paid off. now I have my cvo, and have a balance, but it will be paid off this year.
each time I traded, I got top dollar for my trade, and a decent deal on the new bike. I pay less on my cvo than many of my friends do for their streetglides. and after it's paid for, i'll continue to ride it for a couple of years (or more).
just be patient. enjoy the bike that you have until you are in a better position financially. it's one thing to be able to afford the payment, but another to have that payment in the first place if it isn't necessary.
each time I traded, I got top dollar for my trade, and a decent deal on the new bike. I pay less on my cvo than many of my friends do for their streetglides. and after it's paid for, i'll continue to ride it for a couple of years (or more).
just be patient. enjoy the bike that you have until you are in a better position financially. it's one thing to be able to afford the payment, but another to have that payment in the first place if it isn't necessary.
Road Master
Joined: Jul 2016
Posts: 1,080
Likes: 103
From: Lake County, CA
I spoke with a service rep at my local shop. In regards to an ESP or an EWP, the only time it would be wise to get one, if you ride 4k miles or more each year. I know you said you enjoy riding on 4 wheels and once in awhile you will get on 2 wheels. Save some money and don't get the extra service plan IMO.
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Ultimate HDF Member
Joined: Oct 2008
Posts: 6,224
Likes: 49
From: NW Florida
Thanks all! Much great advice and some I probably should've listened to but they got the numbers where I was comfortable.
Guess it paid waiting it out and have them call me the last day of the month wanting to sale a bike.
Guess it paid waiting it out and have them call me the last day of the month wanting to sale a bike.
5th Gear
Joined: Nov 2016
Posts: 9
Likes: 0
From: Johnston, IA
The key to happiness in life is appreciating what you have. At least until what you have is paid off.
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Cruiser
Joined: May 2011
Posts: 101
Likes: 5
From: Washington State
You are what they call "launched" or "stuffed" in the auto/MC business. If you were to do that deal, you will be screwed for years to come until you pay the bike off. Not making fun or anything, just relaying what I have seen for many years in this business. Usually the business manager/finance manager loves deals like this as he/she will pound you hard, holding rate ect...Keep what you have until you at least have positive equity at a minimum, at best pay it off. Again not judging at all. I have told many buyers, after looking at their credit to just wait for the above to happen, many times they came back and thanked me for the advice, and many times they just continued to roll over negative equity into the new loan. I have seen many, many people buy a new 60K diesel truck, have a loan for over 100K with the negative equity rolled over from the previous 2-3 loans, banks will do the deals with individuals that have good credit scores above 680 in many cases. I looked at a guy one time and told him he would not need a casket when he died as he was going to be so launched in his truck, he would be buried in it. 72 months at a little less than 1600.00 a month, will never forget the dumbest deal I ever saw!
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Ultimate HDF Member
Joined: Oct 2008
Posts: 6,224
Likes: 49
From: NW Florida
simple, I was upside down on the 2013 Fatboy I traded for the 14 Ultra Limited and hadn't climbed out of the negative equity when I traded the 14 UL for the 17 RGS. But I just cleared up 20k credit card debt so I have the extra money and I am going to double up payments. And I like this bike more than any I have had in the past... so I am good. Appreciate everyone opinions, suggestions, and comments.