Local Harley financing stuff ????
#1
#3
It is a way to reach into the pockets of those who live paycheck by paycheck. The dealer has probably partnered with a high interest loan company so that the dealer can sell their stuff and the loan company can make a boatload of money off of the high interest. Surely the dealer doesn't care what happens after the product is sold and the labor is completed since they are being paid up front by the loan company. If the borrower cannot pay the loan, it is not the dealer's problem but rather the loan company's problem.
This may actually be of interest to the fella who was paying 40% interest on the loan for his bike or the person looking to buy used tires for their bike.
This may actually be of interest to the fella who was paying 40% interest on the loan for his bike or the person looking to buy used tires for their bike.
Last edited by Labrador; 12-12-2018 at 09:06 AM.
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awilson40 (12-12-2018)
#5
#6
The sad part about this kind of financing is the OL and kids at home go without something.
#9
my local has been doing this for years, they've partnered with a local loan company and offer 6/12/18 months 0% interest on p&a stuff. the catch is that if you don't pay it off within that timeframe, all the accrued interest is then added to the balance. and they set you up for that. they may give you 12 months free interest, but they amortize it over 18 months. so if you pay the min amount due, you are most certainly going to get hit with a large interest bill. also, if you do the deal on the 15th of december, but your first payment isn't due until jan, that doesn't mean you have to pay it off at your jan payment. oh no, you have to pay it off by the 14th of december.
and before anyone asks, no, i've never 'taken advantage' of this, just read the fine print as a matter of curiosity.
Last edited by skratch; 12-12-2018 at 10:30 AM.
#10