? 10% Down ?
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Joined: Feb 2007
Posts: 186
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? 10% Down ?
Well we didn't get the bike because when we got there He said the bike sold and he had to order. I thought when you went to buy the bike they heald the DAM thing for you. Then he tells me they need 10% down when we started to finialized the paperwork. Well that was it for me. I had to get up and leave I was so pissed off. We told them we would be back tuesday. (maybe).
Here's the deal. We got approved for $30,000.00 We traded in our bike. Got 20,000 for it. I owed $ 23,500 on it.
The SG cost with accessaries $22,547.00 Amount to be financed was $ 26,047.00 . The guy says Harley wants 10% down to do the loan which will be $3200.00 . ??????????? Im like you can count right ? He said yes. I said 10% of $26,047 is $2,604.00 . He says then well this is how much Harley said they wanted.
Now im about as pissed as I can get. I've never traded anything in in my life and had to pay 10% down also. Ive got good credit. My score was 697 . What the hell is this 10% down thing with a trade in and why is it so hard to do business with Harley salesman ? So my question is this if you guys will help me out
Is it normal to pay 10% on a Halrey loan ?
Is it normal to pay 10% down with a trade in ?
Are all Harley salesmen that hard to deal with ?
Thanks for the help guys
Here's the deal. We got approved for $30,000.00 We traded in our bike. Got 20,000 for it. I owed $ 23,500 on it.
The SG cost with accessaries $22,547.00 Amount to be financed was $ 26,047.00 . The guy says Harley wants 10% down to do the loan which will be $3200.00 . ??????????? Im like you can count right ? He said yes. I said 10% of $26,047 is $2,604.00 . He says then well this is how much Harley said they wanted.
Now im about as pissed as I can get. I've never traded anything in in my life and had to pay 10% down also. Ive got good credit. My score was 697 . What the hell is this 10% down thing with a trade in and why is it so hard to do business with Harley salesman ? So my question is this if you guys will help me out
Is it normal to pay 10% on a Halrey loan ?
Is it normal to pay 10% down with a trade in ?
Are all Harley salesmen that hard to deal with ?
Thanks for the help guys
Grand HDF Member
Joined: Jan 2006
Posts: 4,201
Likes: 1,189
From: Anywhere we stop
RE: ? 10% Down ?
When I bought my new 05 EG I put $2,000.00 down. I dont remember the exact OTD figure, but I believe it was around 24K with warranty and everything. It was not through HD because a credit union gave me a better rate.
Road Captain
Joined: Feb 2005
Posts: 514
Likes: 0
From: Airdrie, AB
RE: ? 10% Down ?
When I bought my Ultra last november I had no money in my pocket when I walked in and no trade. My credit score at the time was a little lower than yours.
Basically the dealer gave me the down payment and rolled it back into the loan. I guess if they want to sell one bad enough they will find a way to work with you.
Basically the dealer gave me the down payment and rolled it back into the loan. I guess if they want to sell one bad enough they will find a way to work with you.
Grand HDF Member
Joined: Feb 2005
Posts: 4,307
Likes: 9,428
From: Twin Cities Minnesota
RE: ? 10% Down ?
Well by the numbers you listed, you are in the hole on your trade in, so it would take more than 10% of the bike price. First they have to pay off your old loan. At that point you need 10 %. Doesnt sound like they are screwing ya.[&:]
Cruiser
Joined: Feb 2007
Posts: 223
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From:
RE: ? 10% Down ?
I agree that paying 26,000 for a SG is too much. I have one and love it but still its alot. As for the 10% down, I say no way and shop around for a better dealer and not a stealer. The dealer I use in Tampa, Fl has yet to let me down or others I know who bought there. Like I said before its your money but you need to look at other dealers.
Cruiser
Joined: Jan 2007
Posts: 118
Likes: 0
From:
RE: ? 10% Down ?
Sounds like you were $3500 in the hole on your trade-in for the pay off, so $3200 was about right. Also, I recently bought and Ultra and they wanted $1500 down in order to hold it for me for a month while the weather cleared and I got the finances in order. Agree with one of the others that it depends on how bad they want a sale, but with the payoff amount on your previous bike, it doesn't sound to me like they were too unreasonable. I understand how frustrating it can be when you are ready to deal and feel like the rug is pulled out from under you...
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Seasoned HDF Member
Joined: Sep 2005
Posts: 5,072
Likes: 104
From: Prescott, AZ
RE: ? 10% Down ?
If your trade in had equity in it - then I would say no down payment is needed but your telling us you still owed $3500 more than the trade in value and that was added to your new loan?? not real sure where they came up with the $3200 vs $2600 - sounds like they really did not care if they made the deal or not?? Here in CA sales tax and lic fees are right at 10%. I have to agree with the poster above me - thats a lot for a street Glide - the payments have to be really high and how many years - However, life is short and if you can handle the payments and really want a SG - Go for it...
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Seasoned HDF Member
Joined: Sep 2005
Posts: 5,072
Likes: 104
From: Prescott, AZ
RE: ? 10% Down ?
just did some quick math - finance {$26,047 less 10% (2,604)} $23,443 at 0% for 60 months ( 5 years ) comes out to $390.71 a month.Then there is insurance on top of that...
Better be a real nice ride
Better be a real nice ride