Just wondering and trying to see what the average is for a brand new harley i know it depends on your credit but if you have barely any credit what you guys think it should be monthly with 5 thousand down? 2011 fat bob thats what i look in purchasing in 20 days

 

$350-$400 a month. Plug some numbers in this

http://www.bankrate.com/calculators/...alculator.aspx

If you got no credit and need a loan for a bike. Buy cheaper/used

 

with 5K down I would think you could get payments for around 300-350

 

ok sounds about what i was looking at i am lookikng to pay 500 a month with insurance and bike payment

 

how long you stretching the loan out?

 

i was thinking about 4-5 years because this will be my first loan and want to start my credit also they told me they can put me in as first time buyer

 

So you are a young guy just starting out and looking to tie yourself into a bike for that kind of money over that term? HUGE mistake! But sometimes you got to learn.

 

paying cash is not an option for a lot of people. plus it hurts yer credit

 

Paying cash doesn't hurt your credit! Negative reports on your credit hurt your credit. People say, "Bad credit is better than no credit." That is a ton of crap as well. Bad credit takes years to go away. Good credit can be had within a year.

I agree with the previous comment: This is a BIG mistake! Read "The Total Money Makeover" and you won't buy this bike.

I'm wasting my time though. The OP will buy the bike and be like the other 70% of American's living paycheck to paycheck and working into his 80s, but hey, he can brag about his good credit!

We preach to borrow money on chit we can't afford to get a high credit score so we can buy even more chit we can't afford. Stupid.

Anyone with an average American income of $42K or more always has the option of paying cash. Most just do like a child and choose pleasure first rather than acting like and adult and devising a plan and acting on it.

To the OP, how much do you have in your IRA? How much in Emergency savings? How much set aside to purchase a future house? Do you even have a net worth? Do you know what a net worth is?

 

Your probably right or maybe wrong but if i don't make my own decision i will always be asking for what i should do and i have saved for last 3 months and have 5k saved for a down. so if i can save 5k in 3 months i think i can make a 500 dollar payment each month.

i will get my ride and finally ride with a big smile in my face not riding everyday on my honda and making it try sound like a harley. also when i ride i don't have that feeling that finally i have got what i always wanted.

i love riding is something i couldn't wait to do and i accomplished it and now i want to get my harley and i am not funded with thousands to cash it out .

plus if i can pay more then 500 monthly i will do so.
thanks and i have always been told that i spend my money on thing that are not necessary but what i have learned is my money not anyone else's if i fall in my face then i will get up and learn my lesson an try again some day