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Chief Gate Attendant
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Discussion Starter #1
I am currently financed through HD credit, at 5.8%. My Equifax credit score is 781 and my FICO is around 760. I am thinking I could and should refinance. Has anybody been down this road?
 

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Call me Gig.
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If you are a member of a Credit Union try them or join one and try them.

You should also check with the bank(s) you already do business with.
 

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avoider of idiots
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i cant answer that for you. the 2 Harleys that i financed through them was less than 1%. the last 2, ive paid cash for.

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Super Moderator
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I don't see anyone giving you a better rate on a bike that is 3 years old. Usually best to barter the rate on purchase while it is new since there is more collateral.
 

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rates today at even Credit Unions are hovering around 4% on new bikes

I'd put everything into a couple comparative amortization tables and see where you stand, but I think it's doubtful you're going to gain any ground by swapping loans
 

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My credit union has great rates on used bikes that old...much better than what you got now. I would use them, but got a 1.99% rate from Harley during one of their financing deals!! Hard to beat that rate!
 
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Retired citizen
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I am currently financed through HD credit, at 5.8%. My Equifax credit score is 781 and my FICO is around 760. I am thinking I could and should refinance. Has anybody been down this road?
What bike are ya trying to refinance ? The 2015 FLHTK ?
If it's more than 3 years old it should have been almost paid off already unless ya had a 60 month loan. If that's the case and ya got 2 more years to pay and refinancing the original loan is going to cost ya big time ! Best bet would be to pull out your wallet and pay the loan off and eff the rest of the interest payments ... IMO.
 

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Chief Gate Attendant
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Discussion Starter #10
What bike are ya trying to refinance ? The 2015 FLHTK ?
If it's more than 3 years old it should have been almost paid off already unless ya had a 60 month loan. If that's the case and ya got 2 more years to pay and refinancing the original loan is going to cost ya big time ! Best bet would be to pull out your wallet and pay the loan off and eff the rest of the interest payments ... IMO.
I bought the FLH in June this year, and took a 5 year loan on it. I could have used my 2002 as trade bait but it would have been pitiful and painful. Plus the Dyna is very customized, no return on that investment. I am not unhappy with the financing just tossing it out there. I might check with USAA. Congratulations for those of you who paid cash for their ride!
 
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avoider of idiots
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Congratulations for those of you who paid cash for their ride!

dont get the idea that im wealthy or anything because ive bought the last 2 outright! they were both used (2011, and 2007). and, i had sold 2 different bikes. it also helps that im single, i dont own property, i drive a 19 year old pickup, my sons are both grown, and im retired!

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I have a note on the geezer glide and 2 are paid for.

I refinanced my current bike with my credit union. It's a 2016 and I did it fairly soon after I purchased it. The credit union had a special, 2% lower than your current rate. I now have 1.9% :D

I have 2.89% on the wife's Mustang and they wouldn't do the 2% special on it :rofl:
 

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I am currently financed through HD credit, at 5.8%. My Equifax credit score is 781 and my FICO is around 760. I am thinking I could and should refinance. Has anybody been down this road?
I did, depending on how close to payoff you are, it got me down from about 5.x to 2.4 through my bank, and I got gap too.
 

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I wrapped up my bike loan and car loan into a lower rate, shorter term loan with my credit union.
 

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I'm maybe too late and you've already closed your loans but I just wanted to share my story and maybe it will help someone else

No matter your reason, refinancing a motorcycle loan may be a good option for anyone with a with a solid credit history and a bike that has a higher value than what’s owed on the loan. It may be possible to refinance a motorcycle loan with bad credit, but you’ll most likely pay high interest rates. Whatever your credit situation, it’s important to make sure your new loan really is an improvement over the old one. This info on how to fill money order How to Fill Out a Money Order, Step by Step

Always read the loan application and terms carefully. Pay special attention to any fees or added costs that are not included in the loan's interest terms.

You may want to first look to your own credit union, bank or online lender. It may be possible to refinance with your current lender, but some banks will not refinance their own loans. Many lenders that offer motorcycle loans also tend to offer to refinance loans. If it’s not clear what they offer on their website, call them directly.
Loan requirements, such as amounts and terms, can vary with each lender, but many tend to require a minimum loan amount before they will consider you for a motorcycle refinance. I’ve seen minimum requirements of $5,000.

Loan terms may have minimums, and even maximums, as well . Lenders not only look at your current loan, they will take a look at you, the borrower. While each lender has its own qualifications for refinancing a motorcycle loan, most of them take your credit history into consideration, paying close attention to your score. If you have good credit, or if your score has gone up since you first took on your motorcycle loan, you’re likely in good shape. However, if your score is still on the lower end, you may want to work on improving it before applying to refinance your loan. Still, there are some credit unions that have more lenient credit requirements, or even none at all.
 

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A friend of mine bought his three HD.
Then 30 days later refinancing it thru his credit union.


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If you own your home and have equity in it, perhaps a line of credit or home equity loan can be obtained at a favorable rate and the bike loan paid off.
 
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