Financing

Discussion in 'General Harley Davidson Topic' started by aunkster, Mar 10, 2010.

  1. aunkster

    aunkster Member

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    As some of you may know from my intro post I am very new to HD and am beginning my search.
    But my question here deals with financing.
    Is HD financing as good as a bank?

    Pros?
    Cons?

    Just curious..

    Are they more liberal in the lending than a bank?

    sorry if these questions has been posted here before.
     
  2. Irish Hog

    Irish Hog Junior Member

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    I think it all comes down to what % rate you get and what your credit score is. Shop around.
     
  3. Dr. Dolittle

    Dr. Dolittle Experienced Member Staff Member Moderator Contributor

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    Simply my opinion but I'll bet they're a little more liberal than most banks or credit unions. That's part of the reason you can find so many used Harley's being sold pretty much for the loan payoff - HD approved them and less than a year later they figure out they really can't afford the payment and need to sell the bike.
     
  4. The4opps1

    The4opps1 Junior Member

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    I have used HD credit in the past. Thier rates are like any other lending institution, they vary, so as another post stated, check around. Other than that, I had no problems, their customer service was good, and overall, if I had to go to payments again, and their rates were competitive, I'd use them.
     
  5. jody7734

    jody7734 Active Member

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    If you have good credit check a local credit union that you can join. I financed my '09 through HD credit because they gave me about $700 extra off the bike, I then refinaced at my credit union and dropped my rate from 7.99% to 3.65%. You may want to look into a similar scenario depending on the deals HD has right now. Also, dont do this at a bank becuase there are fees associated with auto/cycle loans at most banks that will negate the incentive from HD, where as most credit unions do not charge any fees upfront to write a loan.
     
  6. sprinklerfitter669

    sprinklerfitter669 Junior Member

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    I would check out several credit unions. i found they have better reates, and will lend more than a bank based on the age and value. and the lending terms were far better. Hd probably will be liberal as well, since they need to start moving some used bikes
     
  7. Jack Klarich

    Jack Klarich Expert Member

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    H D wants all of our money, they make it easy to package price the bike insurance and ESP. Shop around as others have said and try to refinance, you may be surprised, JMO
     
  8. Iceman24

    Iceman24 Well-Known Member

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    As others state - definitely shop around...HD financing's like a credit card (higher interest) and it's best to go through your bank, or associate lending institution. For example, when I purchased my 09 SG last fall, HD financing wanted $$$ down & the loan was for 10% interest. I'm retired military & have accounts with Pentagon FCU - went w/their loan @ "0" down & 3.99% interest. Now the shocker is my credit score's "outstanding" and I don't understand why HD didn't work a better deal.

    Do some research, make some calls & see if you can swing a good loan at a decent rate. Cheers!
     
  9. bikerfishman

    bikerfishman Active Member

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    Absolutely not on HD financing aka Eagle Mark Credit.

    They are thieves and are rude.

    If you have too, deal with a credit union.
     
  10. chefron

    chefron Active Member

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    I'd ask your dealer who they use for loans. My dealership is affiliated with a local credit union. I was quite surprised myself. 3.49%. Better than my bank could do.