Dealers still squeeze
Outstanding HDF Member
Joined: Sep 2010
Posts: 2,630
Likes: 185
From: Mountain West, Big Sky Country
Call Brian Moen at Big Sky Harley in Great Falls, Montana. He is an excellent dealer, will deal and has a lot of inventory. Winter in Montana is slow, bikes still move. I have bought 6 bikes from him. Always treated me fairly, gave top dollar on trade ins and was true to his word. He owns both Big Sky Harley and Copper Canyon Harley in Butte. Great dealer.
Outstanding HDF Member
Joined: Sep 2010
Posts: 2,630
Likes: 185
From: Mountain West, Big Sky Country
when you finance a bike via a dealer, the dealer usually gets a 1% premium from the bank, that is, only if you do not pay the bike off in the first 90 days. I say usually as the amount can vary. So if you pay the bike off in the first 90 days, the dealer gets screwed as the bank does not pay the 1%, after 90 days, its the bank that takes it in the shorts.
That being said, you still pay the 1% in the interest rate, so be aware for the amount of time the bike is financed.
that has been my experience, with both bike dealers and car dealers.
That being said, you still pay the 1% in the interest rate, so be aware for the amount of time the bike is financed.
that has been my experience, with both bike dealers and car dealers.
Cruiser
Joined: Dec 2011
Posts: 216
Likes: 0
From: Aurora, IL
I believe it. Their finance rates are ridiculously high. I bought and financed through HD Finance, made one payment and re-financed through a local Credit Union with a rate 10% APR LOWER than what I had with HDFS
Tourer
Joined: Aug 2010
Posts: 343
Likes: 0
I understand what you're saying but in todays world, if you have good credit...whether you pull out 30 G's out of your pocket to pay for your bike or you pull out a pen to sign the loan papers, the dealer gets their money and they could care less which way it falls.
In this economy, yes, buying a home for cash today and putting a renter in it tomorrow could yield significant returns on your investment with the right property in the right location...then I would say cash is KING, but in a retail enviornment, cash or credit, the retailer gets his money, and he doesn' t care how it works its way into his account. Just MHO.
In this economy, yes, buying a home for cash today and putting a renter in it tomorrow could yield significant returns on your investment with the right property in the right location...then I would say cash is KING, but in a retail enviornment, cash or credit, the retailer gets his money, and he doesn' t care how it works its way into his account. Just MHO.
finance.
The finance dept gets you approved ( if you can be ) for a certain apr. The
dealer can get a kickback by having you accept a higher apr, longer term,
or both. The reason it is always "how much payment can you go?".
This is why they can give you good deals on trade-ins. They make the
money on the loan.
If your cash they wont turn you away but are not going to work that hard
UNLESS they need to move a bike that day. There are other monies to
be made by moving a certain number of units in a month/quarter.
The real benefit of a cash buyer is to the buyer who gets a nice toy
and doesnt owe anyone anything.
Tourer
Joined: Sep 2011
Posts: 278
Likes: 0
From: North Carolina
Different areas may vary, but in this area - Cash Is King. Not saying this to be ugly to anybody, but at the local dealer, I hear people all the time, first question - "How much a month is this bike here"? Salesman briefs them on credit worthiness versus rates, terms, down, and so on. They hang their head and walk out, or sometimes go in the back, get to reality, then walk out. I'm sure some dream and someday come back and buy one. Many of us have probably been there so I'm not ******* anybody.
Face it, those with cash have the edge in many segments of this economic mess we are in.
Face it, those with cash have the edge in many segments of this economic mess we are in.
If you still have a few issues with the "deal', an unsigned financing contract sitting in front of you can make those issues go away in a hurry.
Selling a loan is a plus for a dealer.
Road Warrior
Joined: Jun 2009
Posts: 1,678
Likes: 1
From: Brooklyn, NY
I understand what you're saying but in todays world, if you have good credit...whether you pull out 30 G's out of your pocket to pay for your bike or you pull out a pen to sign the loan papers, the dealer gets their money and they could care less which way it falls.
In this economy, yes, buying a home for cash today and putting a renter in it tomorrow could yield significant returns on your investment with the right property in the right location...then I would say cash is KING, but in a retail enviornment, cash or credit, the retailer gets his money, and he doesn' t care how it works its way into his account. Just MHO.
In this economy, yes, buying a home for cash today and putting a renter in it tomorrow could yield significant returns on your investment with the right property in the right location...then I would say cash is KING, but in a retail enviornment, cash or credit, the retailer gets his money, and he doesn' t care how it works its way into his account. Just MHO.
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Aug 7, 2010 09:52 AM
