I got a 5% auto loan through my credit union, with no credit history at all. I don't think HD can get lower, even on a good day.

 

I put 5k down on my 07 lowrider, H-D interest for 7.99%.Still owe 6,500 on her. Can borrow off my 401k @ 4.5%.

 

Agree on getting financing before you go to the dealer. Credit unions will often do higher loan to value (means lower down payment), and can have lower rates and lower flexibility. I financed my last bike through HD, have excellent credit but the rate was still higher than what I got through my credit union. Only reason I went through HD was I bought the bike on a Saturday.

 

I got my bike from HD when they were running the "Stick it to the man" program...4.9% on my FLHTC... i was gonna buy a standard but with the interes saxings i got the classic for less payment...added cruise,pipes, grips for the extra...

 

I have great credit havent missed a payment or late in over 15 years. My interest tate on my Limited was 8.9 I believe. thru h-d. everone else could give me a better rate but th payment was more because they wouldn't strech it out.this is my 4th harley thru them.

 

i went through hd credit wen i bought my 883 in early 2007, it was the first thing i ever took out a loan for without my parents co-signing. i got a SHITTY rate and just paid it off in 4 months. my next bike will be purchased using my credit union

 

I bought my bike a year ago.Financed 10,000 through my credit union.Paid for the rest of it in cash.HD credit interest is way to high.I got 4 1/4 percent.

 

I would never finance a bike. Bought my 07 RK last year off ebay. 8K was all I could afford at the time, so that's all I spent. Upgraded it as I could afford to. I can take the money I would have been paying to the bank, and use to to make further upgrades.

Consumer credit is a trap many people have a hard time digging themselves out of.

 

Remember that there can be 10% or more difference between the 3 major bureaus. My Experian score is 45 points lower than Equifax or Transunion. The same information, just a different formula. So be sure to check your score before you committ to anything.

For what it's worth, my credit union is financing tier-1 borrowers at 7.5% on 72 month new purchases. HD Credit is only at 8.9% for the same level, but it's 84 months instead of 72. On a $20k purchase you're looking at a payment of $345/month for the 72 months. Compare to HD at 84 months, the payment (with the higher rate) is only $320.77. The problem is that you'll more on the life of the loan, but at least the initial monthly is less.

With a 650ish score then expect a rate around 9.99% to 10.5% from HD credit when you put 10% down. A friend with a 654 Experian just got that rate last week, so I know I'm in the ball park. They quoted him a .5% drop if he put 20% down. Still not as good as you'd get at a credit union, but for him the monthly payment was a bigger deal than the amount of interest he'd pay in the long term.

You can get the HD loan easier than most credit unions, so that may be worth something to you. If you're not a credit union member then you're stuck with HD or a bank. A lot of banks have stopped making motorcycle loans, though.

Good luck on the buy!

 

You might check with www.penfed.org. I was looking at getting a car loan and they will give you 3.9% for 60 months. You have to join but it's was only like $25 I think. I hadn't checked to see if they would finance motorcycles but it couldn't hurt to ask them, especially for that low a rate.