This is a bit of a misconception. Dealer's don't care if you bring in cash, it may actually HURT your deal. Dealers make money on kickbacks from financing.

 

Eaglemark Bank 1% for my 2012 Limited.

 

credit union. 2.49% for 6yrs.

 

Absolutely true. Most states give the Dealer up to 3% above the bank rate to put in its own pockets, When a Dealer quotes you a rate, ask him what the wholesale loan rate is. A lot of 8.75% loans are actually 5.75%, but the borrower doesn't know to check.

 

Is the "wholesale rate" something a dealer is obligated to disclose if asked? Just curious.

 

If you don't mind, what credit union you used?

 

I don't think so, but of course you're not obligated to buy the bike if he doesn't share it with you. The Finance guy sometimes gets a little red faced with his hand caught in the cookie jar, so to speak. ( It can be a lot of money.)

Back when I sold bikes it was simply a single sheet of faxed paper. Today it might be electronic. Regardless, it clearly will be within his calculations on his computer screen.

 

I was just looking through my quote. Eaglemark gave me 4.99 for 60 months with a 712 credit score for my '14 SG, I was happy with that considering my deuce was over 10%. Then I got to reading down the list, they add a $2078 finance charge?! Anyone else get hit with that? Or am I misreading something? If they're charging me 2 grand just to borrow their money on top of their interest rate, they can go *** themselves, I'll look around elsewhere. I was wondering how the salesman came up with the numbers he did when I was going through my trade in and down payment in my head.

 

yep. Dealers get paid regardless, but if they make the finance deal they can't get points that will pay them. Unless they are in house financing and you have questionable credit, they would prefer you finance and will come down on price a little more

 

I was always told dealers won't take any cash, weather it's full price of the bike or just a down payment, of over $9,999 because it has to be reported to the fed if it's $10,000 or more in cash.