I have been trying to sell an 07' Softail Custom recently that has 32k on the odo. Thought I had it sold today until the lady went to her bank about a loan and they told her that "it has to many miles for an 07".

She sent me a text telling me that and I ask her if that was their policy or opinion but she is leaving me hanging for what ever reason. Has anybody heard of mile restrictions by year from banks?

 

I know when I went to the bank to get the loan for my used bike they had different interest rates depending on year. The older the bike, the higher the rate. I don't recall mileage being a factor. I'm sure different banks have different policies. Maybe they base it off what NADA or KBB says is average. Maybe she's blowin' smoke.

 

There are all kinds of ways to say 'not interested' w/o having to say 'not interested.'

That's probably the way they chose to do it w/o saying anything else.

 

Have you tried Harley finance? They will finance a private sale for a fee of course! I think they actually buy it from you once you have a buyer and a set price and then finance the buyer!

 

Thats what I told her we could do but she wanted to go to her own bank. They call it "buyers assist" and all they do is the paperwork. They charge 400 bucks for it but I told her I would pay it.

 

Most banks have mileage cutoffs, but that seems low to me. Usually 80K is standard for cars, and 8 years old.

 

I gotta say shes full of crap. Just a way out for her. If it books for the sellers price it's a deal.

 

Years ago my credit was so so and I tried to get a loan for a new bike. The bank wouldn't give me a loan and told me that a Harley was considered a luxury vehicle. I saved a little longer and payed cash. I guess times have changed.

 

I believe that is what someone at the bank decided and she didn't pursue it further. Could be her credit rating or history with the bank had some affect. Also the number of loans that bank has out on bikes and how they have done on reselling repos can affect it as well.
What they said may have changed her mind and she'll be looking for a bike with fewer miles.
Doesn't make any difference, it all = no sale for you.
Put your effort in to advertising the bike and finding another buyer.

 

I know it does not make any difference with this particular sale but I just wondered if banks in general were doing this now. It could make a difference to any body, not just me, that actually rides their bike and decides to sell it in the future if that is the case.