I will be buying a 2009 Road King soon (counting the days!), and I will need a loan. Does HD offer good rates for a person with good credit? Or where would be a good alternative?

 

I can tell you that one of the dealerships I visited this weekend stated that HD financing for tier 1 & 2 is 7.99% with nothing down and 4.59% with 10% down for up to 5 years. They stated that it is available to many dealerships, but they were the only one of the three I visited that offered it.

I will say that 4.59% was better than my credit union would do.

 

if you're a veteran, check pentagon federal credit union. they gave me 4.5% on a car loan. applied for the account and the loan online. had the check in hand when i went car shopping. ended up not using it, gm 0% for 60 months....

i went with hd because of the convenience (and i didn't know about pfcu at the time) they beat everyone locally, for a bike loan. doesn't hurt to have financing prearranged, but have hd run the numbers as well.

one note to add. eaglemark approves you at a tier (say 7 - 9%) and the dealer has the latitude to set the final rate within that tier. i will tell you that my closest dealer lost a sale because they would not match an existing loan that i had with hd, they wanted .25% more. the next closest dealer beat the existing rate by more than .25% and did it without me even asking. if its an unscrupulous dealer, they may tell you that it is up to the eaglemark bank to set the rate. i called eaglemark and they told me nope, the dealer sets the final rate within the range (tier) given. my local dealer lied to me, and that more than anything is why they lost the sale.

 

I am buying a RKC on Saturday, and I have been pre-approved with my CU for 6.50. I am going to give HD a shot to see what they can do. If they come back with 4.5 I may need to look at that. For what it's worth my fico is 760.

 

This is exactly what my local dealer (in Oregon, not Vegas) told me. BUT what they don't tell you is the dealership can charge as much as 4% more than that rate, so if you were a tier 2, your interest rate could be as much as 11.99%. The dealer make about $150 for each point they get above the base (7.99 in this case).

I won't go into details, but that's exactly what the dealer here in vegas tried to do to me. We verbally agreed on a "deal" with a certain interest rate. When I went to contract, they had it at a higher rate. It was an issue, but they finally changed it but I had to do some threatening. That's all i'll say about that.

In all honestly, you probably are not going to get much better than what Harley is offering. I called 3 of the banks I do business with and none of them were loaning money for motorcycles or cars at this time. You may not have much of a choice right now.

 

I had a similar situation about three years ago with a dealership. They quoted a rate and when we got to the contract the rate was 1.75% higher. I noticed it and the finance lady said that was the rate that Harley gave them and she had no knowledge of the salesman telling me I would get a lower rate.

I won't go into details either but after I got on my old bike to return home they dropped the rate. I was so aggravated I told them forgot the whole thing. The sales manager came out and made things right and I left with the new bike. It was very disappointing and I haven't been back to that dealership since.

 

my local dealer with top teir credit history rated me at 10% interest and 9% if I got the extended warranty

 

I bought last month and used them, 6.5% for the top tier credit which was slightly better than any bank or credit union. Of course my local steeler was adding 4% on top plus $465 over MSRP, needless to say I bought out of town.

 

We bought an '08 FLHR last year and, even though we were in the 99 percentile FICO, had to pay 8.85 % with Eaglemark. And the local credit union apparantly doesn't like motorcyclists; they wanted 8.95%. After three months we went to our home equity loan, and now pay only 2.74%.