Advice

Discussion in 'Touring Models' started by leonm47, Nov 2, 2011.

  1. leonm47

    leonm47 Member

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    Hey Forum Members where is the best place to get a to get a good interest rate on a new bike. I'm getting the fever again.
     
  2. Dr. Dolittle

    Dr. Dolittle Experienced Member Staff Member Moderator Contributor

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    A credit union usually offers the best rates on loans. If you get pre-approved at a certain rate from your bank or credit union, I've found most auto and bike dealerships will work hard to match that rate and get your business.
     
  3. dbmg

    dbmg Experienced Member

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    Alot of what makes a good rate equates to high credit score. Check out the local credit union for they usally have good rates. You may have to join though, but it might be worth it....:)
     
  4. DanDolfn

    DanDolfn Member

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    I got a loan from the dealer thru Eagle Finance at 4.9% for 48 months.

    It would have a little over 5% for 60 months.
     
  5. Redfish-Joe

    Redfish-Joe Senior Member

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    I got 4.5 for 60 at Eaglemark. Matched what my credit union would do.
     
  6. Jack Klarich

    Jack Klarich Expert Member

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    Home Equity line, Tax delectable:s
     
  7. bcortani

    bcortani Active Member

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    Kinda what we did, refinanced with very low interest and borrowed on equity, (plans are to get bigger house soon...) paid cash for my bike out of that and as Jack said, tax deductable baby. :newsmile093:
     
  8. Jack Klarich

    Jack Klarich Expert Member

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    :s Playin it smart til they take away the deductions:s
     
  9. horizonchaser

    horizonchaser Senior Member Contributor

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    Same here. At least we can claim the interest.
     
  10. R_W_B

    R_W_B Senior Member

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    That's good info. Also make sure you completely understand any and all points or extra charges on any loan. The bottom line is what you are after.

    Excellent advice, especially if you plan to pay off the loan regardless of the bike being totalled or stolen. But that would be the honorable way anyhow, but some folks don't and they also have bad credit.

    But you can't fool around with a home equity loan or they can put a lean on your place.