Hubby bought an 07 NIght Train in May and financed through HD ... at 10.9% interest. Paid 3 months on it, and then month ago he applied for and got a credit card with a line of credit enough to cover what he owed HD and transferred the balance ... 4.9% interest until it's paid. Back a couple years ago we did something similar ... we transferred the money owed to whoever he was financing his Triumph to onto a much lower interest card. I have gotten offers from Capital One for auto or motorcycle financing, or re-financing and their rates seem pretty high.

 

Just be careful Perch and don't be late at all on your payments or some (maybe most) of the credit cardscan and will raise the rates on you and sometimes they are ridiculous. Just read the fine print.

 

when i got my '07 street bob i was gong to finance through hd. they gave me 16.9% because i didn't have much of a credit record (no credit cards and only 1 auto laoan). naturaly i told them to stuff it. i went through a local credit union and got 5.49%.

 

If a home owner. consider a home equity loan as the interest is deductible

 

Also if you use a credit card for something like this you can't use the card for ANY purchases until the balance transfer is paid off. If you do, they make you pay off the whole balance transfer while they charge you the normal interest rate on the purchase. So if it takes you four years to pay off your 3.4% transfer, the whole time you are accrueing interest on a purchase that could be at 14% or more! A lot of people don't know about that.

 

dont know if your referring to capitol one cards or not but it isnt that way on cards I have.Sure you will pay the normal rate on purchaces but whatever I transfereed earlier will stay at the rate I was locked in at unless Id miss or be late with a payment.That is true generally what you purchace will be the last to get paid off.So thats why I try not to do much purchaces along with cash advances.

 

Credit card rules vary greatly from company to company, and even within the same company.

My lady raised 4 kids on her own, never established credit. She bought her first nice car using Capital One, which gave her the best rate over any of our local banks. You should have seen the car finance guy squirm when she pulled out a preapproved check for her purchase! Making her payments on time the past two years, she has now established a great score, enabling her to help one of her daughters also buy a car.

They did have some pretty strict requirements--the car had to be "new enough" to qualify for their loan.

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Credit Union

 

I was not referring to capital one specifically but I have seen many cards like this. I didn't mean that they change the interest rate, they simply apply all your payments to the lower int. rate first. So if you transfer $5000 at 0% but the card has 14% for purchases, say then you make a $200 purchase, the interest will accrue on the $200 until you have paid off the $5000 balance transfer. So you get finance charges every month on the 200...