I see someone having or wanting to finance their bike....but financing maintenance and options ???? Maybe I'm just old but
if you have to finance options then perhaps you dont need them. Are other dealers doing the same thing ?

 

I'm with you, financing bling and performance probably means you shouldn't buy it . I'll bet the terms are high teens APR. Mods is money thrown away, not worth a dime at trade in.
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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.

 

 

People finance lots of things at high interest. TVs. Food. Car accessories.

I like my cash back card. Pay it off every month. Collect my "rewards" every 6 months and buy a luxury item.

 

The sad part about this kind of financing is the OL and kids at home go without something.

 

So OP, why don't you contact them for the interest rates? That is a big piece of missing info you could share with us. If it's zero-percent, well then maybe for some folks. But I agree with others, if you have to finance bling, you probably can't afford it.

 

If you have to use Harley financing, you need to re-think your credit rating.

 

not necessarily. maybe the dude paying $59 a month is doing it that way just so the wife/kids don't have to do without while he is able to get those handlebars he wanted now instead of waiting the 6/12/? months to do it.

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.


is this a harley financing in general, or local harley using a finance company? if it's harley financing in general, i disagree with your statement. i've bout 7 harleys in the last 17 years (the wife rides her own, so i get to buy 2 of everything). for all but one, i've financed through hdfs. i've gotten very competitive rates, better than local banks/credit unions. and my credit score is over 800. what do i need to rethink?
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Seen plenty of guys buying at higher interest thru HDF. If you managed to do better, great.
Doesn't seem common though.