I paid cash so I got 0% interest.

 

why didn't you just buy the bike from that dealer using your credit union loan? unless you're not giving us the whole story, why punish the dealership for eaglemark's financing?

 

Sounds like they were a bit high on the price of the bike as well. Even at full list with freight, set-up, tax and license it sounds more than $2K high.

 

Banks hate that. I love it when people **** off banks.

 

Save up and pay cash. If you can make the payment then you can save the same amount each month. The savings will earn interest while accruing.

Then, when you have saved enough, go get the bike. A $20k out the door bike for cash is about a $6 to $8k saving over a typical financed bike.

 

Bought last week. 6.38% at local CU. Dealership F&I guy started at 7.99 and instantly dropped to 6.49 when I mentioned I already had CU financing lined up. The rates are definitely negotiable.

 

I got 9% through my Credit Union on my Sporty and I could only do a 3 year loan.
I got 10% through a different credit Union on my RK because my actual CU ignored me.

For cylcles since they are a luxury item the percentage is usually higher.

 

yeah, i see that now. i had kinda glanced over it and was thinking nightster, not iron..... guess i should pay better attention.


yeah, but you gotta figure what riding is worth to you. would you rather pay the finance charge over the term of the loan, or would you rather save some money every month and finally buy a bike in 5 years? me, i'd rather ride. i just looked at my contract and my finance charge would have been 4,600 if i made minimum payments and took 60 months to pay it off. i'll pay it off early. so i still paid 2 grand in finance charges, i'm riding, not walking....

actually, they couldn't really care less. as long as you make your amount due each month. but, it is still a good thing to pay it off early, especially for your wallet.

technically, if you pay a loan off early, that gives the bank that much more money that they can loan to someone else. the big money in loans is in charging you the fees (application, etc), and then selling the loan to someone else so they can do it all over again. if you happen to get lucky and have a bank that doesn't do that, thats great.

 

Guys, didn't want to finance but 1.05% on the copper top 08 anny just made my day. I'm not going to send an extra 100 a month or anything else that will delay keeping that rate as long as I can.

 

Yeah me too. Someone mentioned that he was more concerned about his payment amout than the interest at the time. Sometimes that jsut happens but I bet he is kicking himself in the butt right now. Those sales guys just love to here those words.

But in the last few days I have noticed interest rates are going up everywhere. I have tons of credit cards. The ONLY way I keep them is if they offer a low interet rate. I just close the account if it's over 6.99% on any of my cards.

But in the past week I have got notices from two different CC companies saying they are increasing the interest rate up to 11.99%. I called both of them. Once kept it where it was at 5.99 but the other said they are increasing everyone no matter how good your credit rating is. So you can guess what I told them to do with their card.

One more thing to remember, recreational vehicle loans usually have a little higher interest rate than a regular vehicle. Of course special rates can always help.

I would say if you can get a rate from HD credit at tier 2 under 7%, that's going to be pretty good coming from them.

Orignally when I bought my Fat Bob they came back with a rate of 10.99%, I told them forget it. Of course they said "let me ask my boss" while I told the sale guy I wouldn't pay anything over 7%. I think my rate thru HD is 6.97% with 1,500 down pmt for 5 years.