Looking to upgrade to a Street Glide Special so I had the local dealership run my credit report today to see what rate I would qualify for. Sales guy said my credit score was 710 but the finance manager could only offer me a rate of 5.49%

When I asked him about the 2.99% rate I had seen advertised he said that rate was for "top tier" credit folks with a score of 750 or better.

Is he shooting me straight or do I need to take my business somewhere else? He also tried to tell me that 5.49% was a GREAT rate for a HD bike!! I know they make money if they can finance a buyer at a higher rate but I figured with good credit and a 710 score I would get the best rate??

Any feedback??

 

Run the numbers between 5.49 and 2.99, not that big a deal.

 

My credit score is higher than that and HD wouldn't give me that rate...mainly because the dealer wasn't making anything on the financing at that rate. Harley's "buy rate" is somewhere between .99 and 9%, depending on the person, and anything over that the dealer wants to charge they pay back to him...make an extra 2 points, he gets a check. Sell you credit life or A&H, he gets a check. Extended service plan, he gets a check...most car dealers make more money on the BACK of a deal than on the actual sale!

Local credit unions are normally the best deals around, we just bought my son a bike and got 1.98 and 120 days no payment/no interest on the deal.

 

If it's not a big deal between the two interests rates, why do they have them. Tell the dealer you want 2.99% push him. Money is better in your pocket than his !

 

Yep, they ran my credit a few months back and gave me a 4.xx% APR with a 780 credit score. When they called HD financing they were told that there was an anomaly in my credit history and I wasn't eligible for the 2.99%.

 

Two years ago Harley offered me 8.8%, credit union 2.16%.

 

I just went with my local credit union. Rates are much better than HD.

 

Depending on the amount and term, you are looking at about 10 bucks a month ? ?

 

Bought my RGU in late June. HD financing @4.99% with a credit score above 750. Asked about the 2.99% and was told it takes 780-800 score to qualify for that rate.

 

Rule # 1. Do not finance a motorcycle. You are upside down when you drive it off the lot.
Rule # 2. See above
Rule # 3. If you must finance, do it anywhere but the dealer.

Bwana