Redfish-Joe
Senior Member
4.5% here.
How to get financed?
- Thread starter wildey
- Start date
4.5% here.
R_W_B
Senior Member
I think HD is like any outfit that sells financing. Rates vary depending on the credit rating of the applicant.
Last year I loaned my step daughter some money to get them out of bind with their mortgage. It was then that I found out they had borrowed quite a bit of money from a credit card company for home improvements.
I was absolutely amazed since I thought I taught her better growing up. Credit cards are ONLY good as plastic cash. Pay them off totally at the end of each month. DO NOT borrow money from them, once the entry time period is over the rates will go up so high you will be paying on that loan forever since the most of your payment will be non-principal interest.
Folks if any of you are stuck in credit card loan, go talk to some folks that offer alternative re-financing. Do you dead level best to get out from under that high interest rate even if you have to pay points up front.
Rafael
Member
True but might be easier to get financed than finding somebody willing to co-sign I believe.
Man, if I ever did such a thing (bankruptcy) I don't think I'd be so eager to get back in debt....bike or no bike. I'd enjoy not having bills for as long as possible. Who knows, might get to pay cash for one if you play it smart and patience.
Ive gotton 3 loans from HD Fin company. All three have been 9.99% or higher. I dont have bad credit. After I bought my second bike I bought a car at 3.99%. Cant explain it and seeing that some one got 4.5% now im really puzzled. Maybe something on my credit report that HD did not like. But we will see when I buy my fourth bike. 
Redfish-Joe
Senior Member
Ive gotton 3 loans from HD Fin company. All three have been 9.99% or higher. I dont have bad credit. After I bought my second bike I bought a car at 3.99%. Cant explain it and seeing that some one got 4.5% now im really puzzled. Maybe something on my credit report that HD did not like. But we will see when I buy my fourth bike.
You have to twist he loan managers arm. Go in armed with knowledge of other rates at other establishments. At the least they will match an interest rate rather than pass it up. My credit union would go 4.5 so HD followed suit.
D
dbmg
Guest
Ive gotton 3 loans from HD Fin company. All three have been 9.99% or higher. I dont have bad credit. After I bought my second bike I bought a car at 3.99%. Cant explain it and seeing that some one got 4.5% now im really puzzled. Maybe something on my credit report that HD did not like. But we will see when I buy my fourth bike.
Some of it may be that the dog is in the pen, if you know what I mean.:s Wonder if HD credit is like GMAC used to be. They will finance anyone and then just repo 6 months later. With all the defaulted loans the higher than norm interest rate for ones with good credit is to offset the bad debt???
I just bought a new Dodge van for 2.9% through Chase for 72 months..
Once a year Renegade HD has a 1% credit sale O.A.C.
When I bought my bike I was prepared to pay cash,but they offered the 1% financing for 60 months.I gave them my information and told them to run my credit.Being Canadian I figured they would reject the financing at the special rate,but they called me and told me it was all approved.I made my payments to Eaglemark savings bank in Arizona.
When I bought my bike I was prepared to pay cash,but they offered the 1% financing for 60 months.I gave them my information and told them to run my credit.Being Canadian I figured they would reject the financing at the special rate,but they called me and told me it was all approved.I made my payments to Eaglemark savings bank in Arizona.
R_W_B
Senior Member
I checked around town today (online) just to see what's available. It's crazy out there, no ryhme or reason. The Wells Fargo Bank, who just took over Wachovia after it went under, wants 7% for fixed rate loans on auto or home. They don't list bikes but I assume they fall under the same rate as autos ?
I checked at Mid-Florida Bank (a much smaller outfit located only in the Central Florida area) and they had the same loans for 2.99%. Really makes you wonder how Wells Fargo is loaning money to anyone.
Course they all are paying ridiculously low rates on savings accounts. Hardly even 1%. Folks money ain't worth much nowdays.
Shop around for the best rate is the order of the day. And all that talk about 0% financing sometimes. Make sure you check the "total bottom line on the deal". Every time I've done this I ended up bypassing the 0% because they won't cut other areas of the deal. It's not really 0%, it just sound that way.
I checked at Mid-Florida Bank (a much smaller outfit located only in the Central Florida area) and they had the same loans for 2.99%. Really makes you wonder how Wells Fargo is loaning money to anyone.
Course they all are paying ridiculously low rates on savings accounts. Hardly even 1%. Folks money ain't worth much nowdays.
Shop around for the best rate is the order of the day. And all that talk about 0% financing sometimes. Make sure you check the "total bottom line on the deal". Every time I've done this I ended up bypassing the 0% because they won't cut other areas of the deal. It's not really 0%, it just sound that way.
llharr
Member
Starting at 2.99% for 60 months motorcycle loans Gulf Winds Federal Credit union Pensacola Fl. Check out their web site , Gulf Winds Federal Credit Union.
markfsanderson
Active Member
I agree with that . . . . if you have a checking/savings account balance next year in excess of what the bike's value is worth - that could sway your bank . . . find a credit union that you like . . . if you are vet then that's not an issue. CU's will commonly loan to more at risk folks . . . just keep a good balance with them and it will turn around.
Good Luck!
Mark - Thanks!