? 10% Down ?
Road Captain
Joined: Feb 2007
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From: Charlotte
RE: ? 10% Down ?
Last week I was in buying mode and was first looking at a used $13,000 Heritage. Let them run my credit and they ended up with a $16,000 deal at 12% financing. I balked and said no way. They were trying to add in dealer fees and such. I then changed bikes to a new RK Classic. He changed the interest to 9% for 84 mos. but I still didn't like the deal. Went to my bank and she said I could walk out the door at 7.25% for $25,000.
I had been to this dealer about 4 times in the past couple of weeks but this made me want to go shopping, which I did. I would say that they lost my business because they tried to "car dealer" me. I went to 4 shops on Saturday and two of them were professional, very informative, andgave me "out the door" prices right away. Although they are the farthest from me,one of them will get my business.
Just because you don't mind overspending does not mean that you should. You should be treated with respect.
I had been to this dealer about 4 times in the past couple of weeks but this made me want to go shopping, which I did. I would say that they lost my business because they tried to "car dealer" me. I went to 4 shops on Saturday and two of them were professional, very informative, andgave me "out the door" prices right away. Although they are the farthest from me,one of them will get my business.
Just because you don't mind overspending does not mean that you should. You should be treated with respect.
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RE: ? 10% Down ?
ORIGINAL: PapaTravis
Okay, my turn. I bought my first harley a year ago next month. Found a dealer on ebay "dreammachinesof texas.com". Called the guy and told him what I wanted. Ended up doing a deal on a 05 rk custom with 770 mi for 16.5 , plus I had it delivered to me in NM. Wife would not let me pick up because we had only rented various harleys for weekend getaways and was not as confident as I was about returning home to her and the kids.- POINT being... a new bike is not always the best answer. There are tons of slightly used bikes out there for a better price and lower milage. Shop around. The wife and I almost bought a bike twice before at the local dealer, and backed out when it came to the interest rate. Apparently UNLIKE most of you my credit is not good 620'ish and I was not about to do 18%. But, I was lucky enough to buy a house 5 years ago at an excellent price which increased in value nearly 50%, So, the wife wanting me to be happy took the steps and did a refi on the house on her own, got a lower rate and payment and did not drain all the equity, and handed me check for my bike. And with the savings of buying a gently used ride, we payed off all our remaining debt. Now instead of payments to credit cards, I buy parts. Who knew when I was trying to fend her off years ago she was going to be the best wife I could hope for.-PapaTravis
Okay, my turn. I bought my first harley a year ago next month. Found a dealer on ebay "dreammachinesof texas.com". Called the guy and told him what I wanted. Ended up doing a deal on a 05 rk custom with 770 mi for 16.5 , plus I had it delivered to me in NM. Wife would not let me pick up because we had only rented various harleys for weekend getaways and was not as confident as I was about returning home to her and the kids.- POINT being... a new bike is not always the best answer. There are tons of slightly used bikes out there for a better price and lower milage. Shop around. The wife and I almost bought a bike twice before at the local dealer, and backed out when it came to the interest rate. Apparently UNLIKE most of you my credit is not good 620'ish and I was not about to do 18%. But, I was lucky enough to buy a house 5 years ago at an excellent price which increased in value nearly 50%, So, the wife wanting me to be happy took the steps and did a refi on the house on her own, got a lower rate and payment and did not drain all the equity, and handed me check for my bike. And with the savings of buying a gently used ride, we payed off all our remaining debt. Now instead of payments to credit cards, I buy parts. Who knew when I was trying to fend her off years ago she was going to be the best wife I could hope for.-PapaTravis
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RE: ? 10% Down ?
The best answer to this is to put a large down payment down or pay cash. Last yearI had $7,000 in cash,I decided to buy a used sporty outright. (rather then finance a new touring bike). A year later Inow have saved up the rest to get a touring bike and I can sell the sporty and get that cash as well. I can now buy a new bike without paying a single penny in interest so I can get the most bike for my money.(I am going to wait until the 08s come out and try to pick up a 07 wellunder MSRP.)
You might be better off keeping what you have or checking the used market out. You can save thousands by buyinga 2006 used SG. We all hear about how the 96 put alot of price pressure on the 88s (use this to your advantage). There are deals to be had on the 2006 SGs.
You might be better off keeping what you have or checking the used market out. You can save thousands by buyinga 2006 used SG. We all hear about how the 96 put alot of price pressure on the 88s (use this to your advantage). There are deals to be had on the 2006 SGs.
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RE: ? 10% Down ?
ORIGINAL: wbogley
The best answer to this is to put a large down payment down or pay cash. Last yearI had $7,000 in cash,I decided to buy a used sporty outright. (rather then finance a new touring bike). A year later Inow have saved up the rest to get a touring bike and I can sell the sporty and get that cash as well. I can now buy a new bike without paying a single penny in interest so I can get the most bike for my money.(I am going to wait until the 08s come out and try to pick up a 07 wellunder MSRP.)
You might be better off keeping what you have or checking the used market out. You can save thousands by buyinga 2006 used SG. We all hear about how the 96 put alot of price pressure on the 88s (use this to your advantage). There are deals to be had on the 2006 SGs.
The best answer to this is to put a large down payment down or pay cash. Last yearI had $7,000 in cash,I decided to buy a used sporty outright. (rather then finance a new touring bike). A year later Inow have saved up the rest to get a touring bike and I can sell the sporty and get that cash as well. I can now buy a new bike without paying a single penny in interest so I can get the most bike for my money.(I am going to wait until the 08s come out and try to pick up a 07 wellunder MSRP.)
You might be better off keeping what you have or checking the used market out. You can save thousands by buyinga 2006 used SG. We all hear about how the 96 put alot of price pressure on the 88s (use this to your advantage). There are deals to be had on the 2006 SGs.
My grandfather always told me, if you can't save up and buy it with cash, you don't need it. He said the time you devoted to saving would give you time to think about the purchase. But papa never saw the new 07 SG either.LOL
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Joined: Oct 2006
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From: Georgia Mountains
RE: ? 10% Down ?
ORIGINAL: reefteach
Get a home equity loan. Lower interest, and you can write off the interest on your taxes.
Get a home equity loan. Lower interest, and you can write off the interest on your taxes.
Your home is likely your largest and most valuable asset, and to many, represents the only tangible "savings" they have. For many it represents their retirement savings.
Home equity loans are best used to increase the value of the property on which the loan was taken, or to invest in other properties. It is generally how most of the working class grow their wealth.
I have toyed in the last 4 years with buying some real estate (acreage and an RV lot). I used a home equity loan to pay off both properties. The rate at which the properties are increasing in value are greater than the interest rate on the loan, and therefore have increased my "net worth" (man, that sounds cool).
I think the best idea is to get the best rate possible on a stand alone motorcycle loan. There is lots of competition. In 05' I was able to finance my bike through BayGulf Credit Union (Tampa Bay) at 3.99%. I won't even attempt to pay off early at that rate.
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Joined: Dec 2003
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From: Murfreesboro , TN
RE: ? 10% Down ?
I guess I got lucky then when I have bought my bikes. When I bought my 03 Lowrider, I got it for 8%, $100 down (I was trading in 2 Buells that I bought from them though, and got maybe $1k for both after paying them off) for 60 months at about $330. My credit score at the time was maybe 650. I bought my 05 Glide in April 05. My score had improved, but was still under 700 (I think it's like a 715 now, as I pay stuff off). Imight haveput $1k down on it, and had to roll some from the Lowrider. The percentage was about the same 7.99% over 60 months, but for more money of course, since my payment is $410/month.
