I am a 24 yr old looking into getting my first motorcycle. I'm looking to get the 2017 Iron 883. I have average credit. 630 to be exact. Approximately 2 years of credit history. Currently have a few credit cards, 85% on time payments. Financed a new car 2 years ago with a down payment of $11,000, and has never missed a payment for my car. I owe $9,000 left on my car. How strict is H.D financial? I don't want a hard inquiry if I don't think they will approve me. I plan on putting $1,000 down on the bike and financing the rest. The MSRP is $8,949. Has anyone in my position or worse able to be approved through H.D in getting a bike??

 

You will never know unless you ask. If you can afford the payment, and you have a decent score, you'll probably be approved with $10 or $15 down. But, only the dealership can answer that for you.

 

You can apply online and that way if it doesn't work out no big deal. My opinion is that they finance almost anyone, you might get a high rate but your chances of getting approved are pretty good.

 

Don't waste your time with Harley. You will get much better % rate from your local bank. Unless you have a great credit rating (750+) your not gonna get a good rate. I have almost an 800 rating and still got better % rate than Harley. They are a PIA to deal with IMO as well. Just my $.02

 

Navy Federal Credit Union just gave me 2.1% with an 804 score. If you were in the Service check with NFCU or USAA first.

 

Wow thanks everyone for the quick responses! In the past I have tried getting financed for a bike, through Yamaha and a credit union and was denied, and that was a bike that was around $5,000 with a $1,000 down payment. Depending on being approved through H.D I don't mind having high interest(as long as it's not higher than 10%) my APR for my car is 7.99% and that was even with $11,000 as a down payment so idk! People say H.D does approve more people than others and I just don't know if I fall in being one of the acceptable ones with being denied from other dealers with cheaper bikes in the past. I make 24k per yr, full time and kept the same job for 6 years, I have a few missed payments on a credit card but always had it paid off, but NEVER missed a car payment for 2 years straight and was always on time.

 

I agree that you'd be better off going through your own bank/credit union. More often than not you will get a better rate that way.

 

There's a lot more to it than just a credit score.Several different factors come into play.
1 of the most important being your debt to income ratio.

 

You're allowed to shop around for credit. What that means is, if you have several inquiries within 14 days, for the same type of credit, it'll only count as one inquiry.

Shop around for a good interest rate and don't worry about inquiries.

 

630 is a tough number to get stuff done. Expect a rate of 6% or worse.

I'd say, "Don't live beyond your means" and get your existing debts down first.

Don't expect a "Tier 1" rate.

Are you a member of a local credit union? They may have better rates than HD.

What's so special about an "Iron?" (Just curious here.)

Good advice above, btw.