Anyone Finance Through Eagle Mark?
#21
10-09-2008, 02:10 PM
I used them on my Dyna.
Be very careful if you sign up for auto draft from your bank account...when your payment due date falls on a week end, they will take the payment on the following Monday (or Tuesday if Monday is a holiday) & send you an ugly letter stating that your payment was late.
I eventually had to have them move the "pull date" back several days to avoid this fiasco.
Went with a credit union on the ultra...problem solved & saved 3% on the interest rate.
Be very careful if you sign up for auto draft from your bank account...when your payment due date falls on a week end, they will take the payment on the following Monday (or Tuesday if Monday is a holiday) & send you an ugly letter stating that your payment was late.
I eventually had to have them move the "pull date" back several days to avoid this fiasco.
Went with a credit union on the ultra...problem solved & saved 3% on the interest rate.
#24
10-09-2008, 02:27 PM
Cruiser
Join Date: Aug 2008
Location: Monett, MO
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They do---I'd forgotten that they did until I went to get insurance. They beat my banker's interest rate by about 1.5%. Just an fyi, and this is a hypothetical quote mind you, but on $20K for 60 mths @ 6.99% (not figured w/ any fees or $$ down) you're looking at a pmt around $395. $20K for 60 mths @ 5.25% is about $379---difference of $16 a month in pmt, and about $1k in finance charge...
#25
10-09-2008, 02:45 PM
Cruiser
#26
10-09-2008, 02:51 PM
Thanks for all the feedback guys. They also approved me $0, while not as much as Id like I want to put at least $2500 - 4000 down. Still dont see how these deals benefit HD, other than moving a bike at any cost.
I have my vehicles and house insured with State Farm, have to check them out and see if they'll finance. Thanks for the tip.
I have my vehicles and house insured with State Farm, have to check them out and see if they'll finance. Thanks for the tip.
#27
10-09-2008, 02:54 PM
Thanks for all the feedback guys. They also approved me $0, while not as much as Id like I want to put at least $2500 - 4000 down. Still dont see how these deals benefit HD, other than moving a bike at any cost.
I have my vehicles and house insured with State Farm, have to check them out and see if they'll finance. Thanks for the tip.
I have my vehicles and house insured with State Farm, have to check them out and see if they'll finance. Thanks for the tip.
Which is why Bike Loans are approved and credit card application are denied. They don't like being a CC Company (especially in this economy) but they sure as hell need to supplement bike sales.
#28
10-09-2008, 03:02 PM
#29
10-09-2008, 04:33 PM
Certainly they're going to check your credit and certainly they have SOME standards, but if you qualify they will be inclined to give you a little more hoping you actually buy more bike then you intended, or option it up with chrome and accessories. Default and they reposess. Bet that don't happen too many times. Have riskier credit score?? You will pay a higher interest rate for it. Not everyone wil qualify.
#30
10-09-2008, 05:29 PM
Seasoned HDF Member
Go with your credit union if you can get them to calm down.
I do have customer service experience experience with Eagle Mark, I went round & round with them last year when I was trying to get the title from my sportster as I had a sale pending. They could have given a rat's a** about when I got my title back. Typical big company crap.
A copy of the letter I sent:
October 2, 2007
Harley-Davidson Credit
8529 Innovation Way
Chicago IL 60682
To Whom It May Concern:
Please find my enclosed final payment of $315.39 on account # 2003****739745.
I would like my title mailed to me asap. One of your representatives told me that it would take two weeks to receive my title once final payment has been received; this is neither ethical nor acceptable. I sent you a check in the mail on September 28th, it cleared my bank by the first, that’s 3 days and one of them was a Sunday! What that says to me is that when it’s your money on the line everything’s all rush-rush but when it’s your loyal customers money its “ehhh…..when we get around to it.” Adding insult to injury, the representative tells me I can “expedite” the process for $20.00 and I should see the title within a week. When I ask what the $20.00 is for he tells me that it’s for overnight fees. Now I’m confused. Where I come from overnight means 24 hrs not 168 hrs. Do you have a different clock or calendar in Chicago? I’ve never heard of overnight meaning seven days. Anyway, send the title so I can legally have what I paid for and do whatever you see fit with this letter. If it gets put in the round file then I will understand why Harley Davidson is in the process of laying off a bunch of employees. I run a very successful business and I NEVER forget what keeps me so busy and prosperous….my loyal customers, not my banker.
Sincerely,
Mike Shannon.
I do have customer service experience experience with Eagle Mark, I went round & round with them last year when I was trying to get the title from my sportster as I had a sale pending. They could have given a rat's a** about when I got my title back. Typical big company crap.
A copy of the letter I sent:
October 2, 2007
Harley-Davidson Credit
8529 Innovation Way
Chicago IL 60682
To Whom It May Concern:
Please find my enclosed final payment of $315.39 on account # 2003****739745.
I would like my title mailed to me asap. One of your representatives told me that it would take two weeks to receive my title once final payment has been received; this is neither ethical nor acceptable. I sent you a check in the mail on September 28th, it cleared my bank by the first, that’s 3 days and one of them was a Sunday! What that says to me is that when it’s your money on the line everything’s all rush-rush but when it’s your loyal customers money its “ehhh…..when we get around to it.” Adding insult to injury, the representative tells me I can “expedite” the process for $20.00 and I should see the title within a week. When I ask what the $20.00 is for he tells me that it’s for overnight fees. Now I’m confused. Where I come from overnight means 24 hrs not 168 hrs. Do you have a different clock or calendar in Chicago? I’ve never heard of overnight meaning seven days. Anyway, send the title so I can legally have what I paid for and do whatever you see fit with this letter. If it gets put in the round file then I will understand why Harley Davidson is in the process of laying off a bunch of employees. I run a very successful business and I NEVER forget what keeps me so busy and prosperous….my loyal customers, not my banker.
Sincerely,
Mike Shannon.
one caveat for everyone: eagle mark approves a person for a loan and gives a rate tier. the dealer has the latitude to then set the rate within those parameters. the dealer can also 'buy down' the rate and get you into a different tier. so don't let the salesman bs you with 'the rate is set by the bank'..... my local dealer lost a sale for just that reason. i already had a loan with them, and was purchasing a bike for the wife. they came back with a rate that was higher than i already had. when i asked why, gave me that bs line. i went home and called the bank and they told me the above info, and also said that i could have actually gotten a rate lower than i was currently paying, without the dealer having to buy it down. too bad for them, cause the dealer i ended up going to, though further away, has earned much more of my business. so instead of them losing one sale, it was 3 (so far....)
I used them on my Dyna.
Be very careful if you sign up for auto draft from your bank account...when your payment due date falls on a week end, they will take the payment on the following Monday (or Tuesday if Monday is a holiday) & send you an ugly letter stating that your payment was late.
I eventually had to have them move the "pull date" back several days to avoid this fiasco.
Went with a credit union on the ultra...problem solved & saved 3% on the interest rate.
Be very careful if you sign up for auto draft from your bank account...when your payment due date falls on a week end, they will take the payment on the following Monday (or Tuesday if Monday is a holiday) & send you an ugly letter stating that your payment was late.
I eventually had to have them move the "pull date" back several days to avoid this fiasco.
Went with a credit union on the ultra...problem solved & saved 3% on the interest rate.
Last edited by skratch; 10-09-2008 at 05:36 PM.