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Also remember that the mothership is hurting for sales numbers. They arent selling like they used to.
 
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I just looked at my paperwork from February 2016 when I financed my 2016 Ultra Limited . . . My APR through Eaglemark Savings Bank (Harley-Davidson's Bank and Credit Corp.) was 2.99%. Not bad for financing through the dealership.
 

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when I bought my Heritage last December, I financed it through the CU I deal with. to save interest costs, I just took out a loan on my Buick. Worked out pretty good, 3.25% vs. 4.39%.
 

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Navy Federal Credit Union is imho the absolute best. Been a member for over a decade and each time I call it seems their service gets even better.
All of my credit cards and loans are through them and the interest is laughably low.
 

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Navy Federal Credit Union is imho the absolute best. Been a member for over a decade and each time I call it seems their service gets even better.
All of my credit cards and loans are through them and the interest is laughably low.
That's interesting. I wouldn't trust them as far as I could throw the whole lot of 'em.
 

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Well, that is not totally true... you and the “steeler” do not set the rate! The financing company does that, period!

As said, you can shop rates, but you nor the dealer will set a rate.

Unless, and I have not heard of a Harley dealer doing it, is in house financing. Where they do the buy here, pay here thing.


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That is only partly true. For dealers that go through HDFS, they are given a list of multiple rate options that are left up to the dealer to choose. If you go in a sign a contract with a 7% rate, that is not the only rate that HDFS gave to the dealer for your loan. Dealers can mark up the rate up to 3 points, they get more money from HDFS by doing this. With the 7% as an example, that could be the rate floor (lowest rate offered) or it could be the highest. HDFS very well could have given you a 4% rate for 60 months but the dealer set it to be 7% because the dealer gets no extra kick back by signing you at the 4% rate; they would get about $1,200 or so for marking it up (more if you are buying a touring bike or trike).

I trained dealer employees on the software they use for generating the contracts and selling you the ESP and GAP add ons. It is legal to markup rates up to 3 points and most auto dealers do that if they can swing it; not just Harley dealers.

The issue is people expect to get a rate similar to what they would get for buying a Ford Focus but a Harley is not a necessary item. In the financing world, cars and trucks are seen as necessities so for the main auto manufacturers, you'll get a normal finance rate. If you go buy a boat, you'll get a high interest rate just like you would by getting a bike because in the finance world; they are toys and not necessary. When you go with a luxury toy, like a Harley is seen; you get a much higher rate. Credit Unions and local banks, see things differently. You'll get an awesome rate through them because for the most part, they don't care what you're buying. They will make money off the interest whether you buy a Ford Focus or a CVO Breakout.

I worked with HDFS, I trained dealers how to use this software; I'll be happy to help with any questions you guys have related to HDFS.
 

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I just looked at my paperwork from February 2016 when I financed my 2016 Ultra Limited . . . My APR through Eaglemark Savings Bank (Harley-Davidson's Bank and Credit Corp.) was 2.99%. Not bad for financing through the dealership.
That's due to special promotions and all. Also, they are typically paid by the dealer so it costs the dealer money in order to get you that rate but they do it so they can sell a bike and move their inventory.
 

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This threads been helpful. I was just going to finance through HD, but I checked and my credit union advertises 2 percentage points lower than HD.

Question though, would the dealer be more likely to negotiate a lower price, get rid of tacked on fees or a better extended warranty if you were financing through them?

That may save you several thousand dollars which may more than make up the interest difference.

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The answer is "Sometimes" and "it depends on what you're buying".

Dealers make more money when you go with a higher rate, HDFS actually pays the dealer more when you get a higher rate. If you're getting a bike they really need to get rid of and you're financing through HDFS so they are getting a kickback; it is highly likely they will cut off fees or pay for the ESP. If you go in buying a bone stock sporty, I doubt you'll be as lucky.

The best thing you can do is ask the dealer straight up "Are you marking up my rate? If so, and you're getting an incentive from HDFS for that, what am I getting in return?"

If the F&I guy at the dealer is worth his snuff, he will give you more than a typical "well, when you buy from us you become family and we take really good care of our family". Good F&I guys will respond something like "Yes, the rate is marked up because it helps our dealership stay open and be able to provide more services than other dealers. Also, because I've got this set up higher, I'm going to throw in the planned maintenance package and cover your freight and setup."
 

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The answer is "Sometimes" and "it depends on what you're buying".

Dealers make more money when you go with a higher rate, HDFS actually pays the dealer more when you get a higher rate. If you're getting a bike they really need to get rid of and you're financing through HDFS so they are getting a kickback; it is highly likely they will cut off fees or pay for the ESP. If you go in buying a bone stock sporty, I doubt you'll be as lucky.

The best thing you can do is ask the dealer straight up "Are you marking up my rate? If so, and you're getting an incentive from HDFS for that, what am I getting in return?"

If the F&I guy at the dealer is worth his snuff, he will give you more than a typical "well, when you buy from us you become family and we take really good care of our family". Good F&I guys will respond something like "Yes, the rate is marked up because it helps our dealership stay open and be able to provide more services than other dealers. Also, because I've got this set up higher, I'm going to throw in the planned maintenance package and cover your freight and setup."
Good to know.

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Discussion Starter #50
so how do you know what % interest rate your getting from HDFS? i called them to ask and they wouldn't tell me, she said i would have to ask my dealer, some privacy law or something. sounded like BS!!
 

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Privacy law my butt.
 
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Hello all, i just put in an application over HD website where i make my pymts for my current bike, it came back approved for 20k and some change, but it doesn't give me a % rate, so how d i know what it is or do i have to discuss that with the dealer? and is it easier to get a lower interest rate on a new vs used bike? Thanks
Older thread, but for anyone that is interested, I've used MB Financial for my last two motorcycles. The interest rate has beat the credit unions and HDFS. I have good credit.

The only catch is that don't have an online payment system (unless it has changed recently). I guess I'll find out soon.
 

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Older thread, but for anyone that is interested, I've used MB Financial for my last two motorcycles. The interest rate has beat the credit unions and HDFS. I have good credit.

The only catch is that don't have an online payment system (unless it has changed recently). I guess I'll find out soon.
Update. MB Financial takes online payments now. Just made my first of many more to come.
 
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