The rate the gave me changed when I traded in a Fatboy 2 months after buying it. The rate down on the second bike 1%.Anybody else buy a bike and within thirty days see the interest rate drop from Harley?
Anybody else buy a bike and within 30 days see the interest rate increase from Harley?Anybody else buy a bike and within thirty days see the interest rate drop from Harley?
22%? Are you serious? The fact that your bank gave you 5% verifies your credit rating isn't too bad. For ANY dealer to quote 22% interest is not only ridiculous but puts them in the same category as pawn shops and those weekly quick loan ripoff artists.I didn't finance through Harley, they wanted 22% interest. Went to my bank and got 5%.
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That sucks! But like they say and we have all heard it, read the fine print before signing. They advertise the rate but, unless you ask, they don't disclose the shady details.bought a '14 limited got a deal $1500 off from a dealer 500 miles from my home. my cu advertises all over town on billboards 2.49% on auto loans so I went in planned to put down 10k finance the diff for 5 years and pay it off in 2. their rate for motorcycles which is considered a recreational vehicle is 4.75%. harley dealer told me I could get 3.99% with no fees or penaltys and can pay it off anytime so I went with harley finance. got my first bill last month $374 ($234 toward principle $140 interest) I thought there was a mistake so I called harley finance they explained there is a formula like when you buy a house you pay all the interest upfront and mostly principle at end of loan period so I am paying 38% interest for now even when it will be 3.99% over 5 years - I called credit union they also have a formula but I would be paying about 6% to start out so this would have been a much smarter option since I will be paying it off in 2 years or so. a friend told me harley will offer me deals to trade up and refinance after a year or so to keep me at the high rate - so watch the formula will bite you in the ass like an aligator in the road - it was never mentioned to me how it works.