Decided to head back to the dealerhsip yesterday was thinking on trading my 02 sporty 1200 in for a brand new one. Thing is i owe $8000 on the 2002 sporty and the new one costs around $11,000. They said they wopuld give me $4000 for trade still kinda upside down on it. They are working with the bank i financed this one at to see if i can qualify.. Payments are gonna rise thought from $201/mo to around $340 month. Dont know if i want to do it. But then again this bike would be new and the one i have now (breaks down every other day) would be gone.

 

Thats alot of money a month for a Sportster payment. How long have you had the 2002? Why do you owe so much on it? If you buy the new one with that deal, you will be financing over 15K 11,000 newbike plus misc fees and 4,000 from the old one if you don't put any money down.Does not sound like a good deal to me. Whats the problems you are having with your old one?

 

Are you crazy? Stay away from the dealership.... it's just making you want to do something silly and likely to regret. Kinda upside down on the deal is an understatement. Get your bike fixed so it runs great (there is just not that much to go wrong that can't be fixed) and enjoy it till its paid for or down to a reasonable point for you to sell.

 

I don't quite understand how you can owe 8K on a 5 year old Sporty. [:@]

 

Yeah im not gonna do that deal. Well i got the 2002 last april the price was $7995 then i got slammed with 18.25% INTEREST rate so that tallys up. The breakdown of it is:

Bike purchase $7995
Finance Charge $5788
Then it says total payments you will have paid after you have made all payments as scheduled: $14506.56 (72 payments)

And the doc fees, this crap and that BS was total of $ 1074 just in paper work doc's.

 

It just depends on what you want. I got screwed on my last bike, and it sounds like it happened to you. It all boils down to what you want. They should give you 100% of what you owe and move you into the 1200.

 

He already has a 1200 Dallas, he just wants a newer one.

 

Dude, that's what's commonly refered to as, "*** rape."

 

Yep got screwed. Keeping the bike until i get the pay off down to where i can sell it then get rid of it and my next bike is a road king. Thats on my wishlist but I can wait for that.. Im only 24 years old now lol

 

The first thing I would do is get the bike fixed. The second thing I would do is try to refinance the bike with a normal bank and stay away from finance companies. Unless you have horrendous credit, you should be able to get a much better rate. After the refinancing, pay a little extra each month (even $20 if that's all you have) to get that thing paid down to at least what you can sell it for. But then again, if it is running great, you might not want to get rid of it at all.

Go to: http://www.capitalone.com/autoloans/...1_C3_02_T_ALMC

Their refinance rate is 9.75% for 30-36 months, or 10.45% for 37-60 months.

There might even be better deals out there, but Capital One will usually let you know within a few minutes if you qualify. I've bought one car using them and refinanced another one and they were better than my local bank or the dealership.

Barry