[Higmo]

Thanks to you all for the kudos on the new position! This does open doors for me and most importantly gives me hope. Hope is a wonderful thing. Unfortunately I have many questions. I'm hoping some of you can give me some advice.

I'll be paying off my wife's car, and should have close to the 10% required for downpayment on a new Fatboy. Not sure how many months I'll be financing it for, but 60 months would be the target i'll shoot for, since that calculates out to less per month than my wife's car payment.

The only snafu is that I have had some cheesy credit in that past. I have been late on payments but never defaulted on anything and never claimed bankruptcy... ever! So my credit isn't sterling, but I do pay my bills.

Does anyone have experience with Harley Credit and can you tell me how "ticklish" they are when providing credit to those with less than good credit? What is the going interest rate right now?

Let's discuss these things in this thread. I am so curious about so many things. Haha I just realized out of the 30 or so bikes I have owned, I have never financed a single one. This will be my biggest bike investment ever. =)

 

[pasadenajim]

Lisa obtained her bike loan through H/D Credit. Their rates are competitive at the "second tier" credit level. The rates may or may not be competitive for first tier--the best--credit. Go in to a dealership (it doesn't really matter which one) and act like you want to buy a bike there. They'll be able to run you a score on your credit from H/D Credit and you'll then know. Occasionally, dealerships have "deals" with finance companies which are competitive. Be armed in advanced though. Check out the Internet for places like People First and Conseco, who are big lenders for bikes. And if you are a credit union member, they are set up to help folks who don't have the best credit history.

Good luck!

 

[logical]

I put this in your earlier thread but in case you missed it:

Try the online application at peoplefirst.com (application is fast and free, no obligation, etc.))

I actually got 60 months @ 7.49%

They won't go any longer on a bike and yes my credit is very good and they do require automated electronic payment (which I actually prefer) at that low rate but worth a try. (They do also have higher rates for lesser credit histories and mail-in payments.)

84 months at Harley's loan rates (10%+) would have lowered my payment a few bucks but it would also cost about $2000 or so more in interest over the life of the loan. And I was only taking a $11,000 loan.

 

[Higmo]

I just checked out Conseco and People First, and neither one will write loans in New Hampshire. I wonder why? Too many rednecks?

 

[Straydog]

Hey Higmo,

I went through my credit union for my loan. They offered 7% (48 months) for a 2000 or newer. I thought that was pretty decent, but I'm sure there are better deals to be found - if you look hard enough.

Congratulations on the new job!

 

[Higmo]

For the record, I just called People First and asked them if their exclusion of New Hampshire was limited to WHERE the bike is purchased, or WHERE the buyer resides. It's where I reside. =(

 

[pasadenajim]

What's wrong with you guys up there in New Hampshire?

Logical got the first tier credit rate but the sites may still have info on the
second tier rates. With that info, you'd know whether the H/D Credit rate is competitive. The H/D dealer will want to get you qualified to sell the bike. The Credit Union idea is still out there. Even if you're not a member of one now, you can find one to join and then apply for a loan in a month or so.

 

[Higmo]

Already got that CU idea covered, Jim. I called my new boss and he said that I'll be eligible for a membership in their CU. =)

Another idea I had was just to order one here at the MSRP place. I'll have to wait a year, but what the hell. My wife is cool with me getting a sportster to fart around with over the summer. I can let my son ride the old hurricane.

 

[skydoc]

I'm not sure how picky they are, but H/D credit charges simple interest regardless of the length of financing. You can pay it off sooner by paying extra against the principle without any penalties. I financed through HD credit. It was the same rate as my bank. Just have the dealer run it through to see what they offer you. Good luck Higmo.

 

[RagininMD]

My dealer here in MD just told me that the current rate for 84 months is 8.9% -- not bad for that length -- but I am sure that you need pretty good credit to get that rate. Just thought I would share that...

 

[metter]

Higmo,


I live in St. louis, MO and bought my FXDL in Jan. 02, was going to use H-D credit at 10+ % but found a credit union to finance me at 5.9% for 60 months and all I had to do was deposit $5.00 in a savings account with them, so shop-shop-shop for a better rate, they are out there no matter what your credit rating is.

Jim