How many finance their bikes?
Extreme HDF Member
Joined: Nov 2005
Posts: 16,125
Likes: 24
From: Linden New Jersey
RE: How many finance their bikes?
Wish I could have paid cash, but I can't and didn't.
Just paided off a truck loan, so I put $5000 down and financed the rest.
In the process of a refinance of my house as the market value in Jersey shot thru the roof.
I'll be dead before the house is paid-off, so I'll refinance, pay off the bike and put 50 G's in my pocket and take another year off from work
Just paided off a truck loan, so I put $5000 down and financed the rest.
In the process of a refinance of my house as the market value in Jersey shot thru the roof.
I'll be dead before the house is paid-off, so I'll refinance, pay off the bike and put 50 G's in my pocket and take another year off from work
Cruiser
Joined: Dec 2005
Posts: 203
Likes: 0
From:
RE: How many finance their bikes?
I financed with Harley at 4.9%....and didn't have to buy a warranty or anything...could of paid cash but why sell harley or pepsi stock or mutual fund that is up way more that 4.9% in the last year.
Jon
Jon
Outstanding HDF Member
Joined: Nov 2005
Posts: 2,408
Likes: 2
From: Houston (Area)
RE: How many finance their bikes?
Cash is always the best way to go, but since I didn't have enough under my mattress. I used my credit union. I have squeaky clean credit and Harley offered me 11%. They offered 5% if I bought the extended warranty, GAP Insurance, and pre paid scheduled maintenance. This was about $6000.00 extra. The dealership closed at 7:00 and it was about 8:00. All the employees and my bike were outside waiting on me so they could close. I came outside and said I’ll be back tomorrow. My credit union was 5.5%.
There is nothing wrong with financing as long as you get a good rate and pay extra when you can.
There is nothing wrong with financing as long as you get a good rate and pay extra when you can.
Stellar HDF Member
Joined: Apr 2005
Posts: 3,108
Likes: 9
From: Lincolnton, NC
RE: How many finance their bikes?
I sold my 3 PSL's and season tickets for the Carolina Panthers. We enjoyed the football games but I didn't plan my life around what was happening on Sunday. So far, we've gotten more use and enjoyment out of the RK. My wife was never a big sports fan, I think she went to maybe 3 games in the 10 years we had the seats. But she wants to ride on the RK every day.
I paid about half down on my RKC and financed the rest for 48 months. Down payment was something like $10,372.47. I made the finance guy figure out what the down payment would need to be so my monthly payment would be a nice round number. Did that with my last two car purchases also. Makes my math in the check book easier.
I paid about half down on my RKC and financed the rest for 48 months. Down payment was something like $10,372.47. I made the finance guy figure out what the down payment would need to be so my monthly payment would be a nice round number. Did that with my last two car purchases also. Makes my math in the check book easier.
Tourer
Joined: Apr 2005
Posts: 368
Likes: 0
From: Prior Lake, MN
RE: How many finance their bikes?
I set up a financial plan to buy a Harley about 10 months ago. I had well over the amount I needed to pay cash for my ’06 Ultra Glide that I picked up on Monday (4-17-06). I would sit down and look at your monthly expenses and what you have coming in and set up a plan. You might be surprised what you can put away. I had automatic withdrawals from my checking account go into a money market account every month and added more when I had it. The great part is everyone is talking about interest rates going up and they are complaining about their ARMortgages going up. I was laughing all the way to the bank because every time the Fed upped the rates my money market account made more money. I made $147 in interest last month on the money I had in there.
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Outstanding HDF Member
Joined: Nov 2005
Posts: 3,081
Likes: 4
From: Phoenix, Arizona
RE: How many finance their bikes?
ORIGINAL: skater69
I rode a ZX-12 and it is faster but it aint much faster....and it sure as hell isn't as smooth or feel as well made as the Blackbird. And the Blackbird is still WICKED fun/fast.
Well I may end up financing one.....soon enough. I'm leaning toward an EG standard......in vivid black of course....
I rode a ZX-12 and it is faster but it aint much faster....and it sure as hell isn't as smooth or feel as well made as the Blackbird. And the Blackbird is still WICKED fun/fast.
Well I may end up financing one.....soon enough. I'm leaning toward an EG standard......in vivid black of course....
And you are making a wise choice on the color.
Cruiser
Joined: Feb 2006
Posts: 124
Likes: 0
From:
RE: How many finance their bikes?
I put a large down on my Streetglide and opted for a lower payment for more months but will pay it off in one year. If you have good credit you can get a good rate. I have a 7 year loan at 6.99% but only pay $169/month. I could have gotten as low as 5.99 for 5 years. You see dealers advertising 1.99% but that is for 2 years. You wind up with a $500.00/month payment and a big down. With a $169.00 payment I have cash left over in the event of an emergency and can decide when to pay off the bike. I'm also comfortable paying a $500.00 payment if I need too. Make sure you get a "no pre-payment penalty" clause in your contract.