Please login or register.

Login with username, password and session length
Advanced search  
Pages: 1 [2]  All

Author Topic: How does one sell a bike that is financed?  (Read 8147 times)

0 Members and 1 Guest are viewing this topic.

D-N-D

  • 5k CVO Member
  • ***
  • Offline Offline
  • Posts: 6711
  • FLHRSEI.ORG
    • PA


    • CVO1: 2020 FLHTKSE Limited / Moonlight Blue & Deep Sea Blue
Re: How does one sell a bike that is financed?
« Reply #15 on: May 13, 2015, 06:06:07 AM »

3.99 is really not bad for a Bike.
Logged
DND

ultrarider123

  • Guest
Re: How does one sell a bike that is financed?
« Reply #16 on: May 13, 2015, 07:15:49 AM »

The MoCo is pushing 1.99% for up to 60 months on new leftover 2014 and 2015 models through the end of May.  Credit Unions regularly push anything from 1.29% to 1.99% on new cars,trucks, suvs, and recreational vehicles (dat b modercykles) for up to 72 months.  My home owners rate for a 15 year loan is 2.25% fixed so while 3.99% sounds OK by itself, when compared to all the other options out there, it's actually not that great.
Logged

Jswerve

  • 2.5K CVO Member
  • **
  • Offline Offline
  • Posts: 4149

    • CVO1: 2012 FLHXSE3
Re: How does one sell a bike that is financed?
« Reply #17 on: May 13, 2015, 07:22:51 AM »

Howard those are great rates but I'm sure not for everyone. It's going to depend on the applicant's credit rating. I haven't purchased anything since 2012 but I refinanced my home then and I got a very respectable 3.125% with a 780 credit score. Sounds like rates have dropped since then. Not worth refinancing again for .625% by the time they add those closing fees and such (imo). Maybe I will see what's out there for my bike though. I'm under 14k now.  Might save me some change?

Jesse
Logged


2012 FLHXSE3 Ruby Red/Typhoon Maroon
|Color Matched Detachable Tour Pak | Fuelmoto PV | Dragos 580 cams | Dragula 2-1/Ghost Pipe | Cyclesmith 13's | Sachs heads | Yaffe Stealth III License Plate Frame| Long Angled High

owl893

  • Elite CVO Member
  • *****
  • Offline Offline
  • Posts: 545

    • CVO1: 2011 FLHXSE2 Autumn Haze
Re: How does one sell a bike that is financed?
« Reply #18 on: May 13, 2015, 07:33:37 AM »

Great suggestions, I would only add that you (if you own a home) pay it off with a home equity loan.  Low rates, the interest is deductible, and the payments are variable.

OWL
Logged
1961 DUO GLIDE, 1979 FLH, 1999 FXDWG, 2001 FXSTS, 2003 FLHRCI, 2004 FLSTCI, 2005 FLHT, 2006 FLHXI, 2011 FLHXSE2

Jswerve

  • 2.5K CVO Member
  • **
  • Offline Offline
  • Posts: 4149

    • CVO1: 2012 FLHXSE3
Re: How does one sell a bike that is financed?
« Reply #19 on: May 13, 2015, 07:52:30 AM »

Great suggestions, I would only add that you (if you own a home) pay it off with a home equity loan.  Low rates, the interest is deductible, and the payments are variable.

OWL
John good to hear from you. Great suggestion. Hope all is well.

Jesse
Logged


2012 FLHXSE3 Ruby Red/Typhoon Maroon
|Color Matched Detachable Tour Pak | Fuelmoto PV | Dragos 580 cams | Dragula 2-1/Ghost Pipe | Cyclesmith 13's | Sachs heads | Yaffe Stealth III License Plate Frame| Long Angled High

Puma

  • Senior CVO Member
  • ****
  • Offline Offline
  • Posts: 359
  • www.CVOHARLEY.com
    • NJ


    • CVO1: 2014 FLHRSE Dragula 2, SESTP, C&C Fastback
Re: How does one sell a bike that is financed?
« Reply #20 on: May 15, 2015, 09:09:58 PM »

Great suggestions, I would only add that you (if you own a home) pay it off with a home equity loan.  Low rates, the interest is deductible, and the payments are variable.

OWL
I wish I could sell the f-ing house and keep the bike.
Logged
2014 CVO Road King: Titianium/Black, Dragula 2 (2-1), SESTP, C&C Fastback

Puma

  • Senior CVO Member
  • ****
  • Offline Offline
  • Posts: 359
  • www.CVOHARLEY.com
    • NJ


    • CVO1: 2014 FLHRSE Dragula 2, SESTP, C&C Fastback
Re: How does one sell a bike that is financed?
« Reply #21 on: July 27, 2015, 06:20:40 AM »

Would it be possible to trade it on a much lower priced bike? Lower the amount financed, and in turn the payments.
Logged
2014 CVO Road King: Titianium/Black, Dragula 2 (2-1), SESTP, C&C Fastback

ultrarider123

  • Guest
Re: How does one sell a bike that is financed?
« Reply #22 on: July 27, 2015, 07:44:26 AM »

Yes, that is an option.  Here's another thought in that same line of reasoning.  In some states you only pay sales tax on the difference if you trade.  If you trade "down" as you say and the difference is a negative number (no trade difference or your bike is more than the new one) you shouldn't have any sales tax IF you state does that...another savings potential.
Logged

2k

  • My ignorance is just as good as your knowledge, when my information changes, I alter my conclusions
  • 5k CVO Member
  • ***
  • Offline Offline
  • Posts: 7988
  • monter le cheval de fer (French)
    • NC


    • CVO1: 2013 SERK-Dressed in BLUE of course.
    • CVO2: 2002 Supercharged HD F150 512 RWHP
    • CVO3: 1956 BelAir Sports Coupe
Re: How does one sell a bike that is financed?
« Reply #23 on: July 27, 2015, 08:31:46 AM »

Just saw this and feel really bad for you. Trading down would be the LAST thing I would consider. You would never be happy getting off your CVO and jumping on a Softail something or other.........big mistake.
Logged
Most Honda Goldwing riders will blink when hit in the head  with a ball-peen hammer (sans helmet)

Puma

  • Senior CVO Member
  • ****
  • Offline Offline
  • Posts: 359
  • www.CVOHARLEY.com
    • NJ


    • CVO1: 2014 FLHRSE Dragula 2, SESTP, C&C Fastback
Re: How does one sell a bike that is financed?
« Reply #24 on: July 27, 2015, 10:59:08 AM »

Yes, that is an option.  Here's another thought in that same line of reasoning.  In some states you only pay sales tax on the difference if you trade.  If you trade "down" as you say and the difference is a negative number (no trade difference or your bike is more than the new one) you shouldn't have any sales tax IF you state does that...another savings potential.
NJ does have a sales tax benefit on trades. The trade value is applied before the sales tax is calculated. With a down payment the tax is calculated on the full price, then you pay the down payment. So, based on an equal amount of money, ie $10,000 trade vs. $10,000 down payment, a trade is worth more.
Logged
2014 CVO Road King: Titianium/Black, Dragula 2 (2-1), SESTP, C&C Fastback

Puma

  • Senior CVO Member
  • ****
  • Offline Offline
  • Posts: 359
  • www.CVOHARLEY.com
    • NJ


    • CVO1: 2014 FLHRSE Dragula 2, SESTP, C&C Fastback
Re: How does one sell a bike that is financed?
« Reply #25 on: July 27, 2015, 11:00:46 AM »

Just saw this and feel really bad for you. Trading down would be the LAST thing I would consider. You would never be happy getting off your CVO and jumping on a Softail something or other.........big mistake.
I hear you, but I need to be able to ride something. This could mean something used, or even another make.
Logged
2014 CVO Road King: Titianium/Black, Dragula 2 (2-1), SESTP, C&C Fastback

2k

  • My ignorance is just as good as your knowledge, when my information changes, I alter my conclusions
  • 5k CVO Member
  • ***
  • Offline Offline
  • Posts: 7988
  • monter le cheval de fer (French)
    • NC


    • CVO1: 2013 SERK-Dressed in BLUE of course.
    • CVO2: 2002 Supercharged HD F150 512 RWHP
    • CVO3: 1956 BelAir Sports Coupe
Re: How does one sell a bike that is financed?
« Reply #26 on: July 28, 2015, 08:42:52 AM »

Didn't mean to imply I knew what you were feeling.........and you are right anything with 2 wheels that can reach hwy speeds is better than nothing. Don't think it will come to a repo as you are not up-side-down. When times are tuff, hunker down!!! If all else fails PM me.
Logged
Most Honda Goldwing riders will blink when hit in the head  with a ball-peen hammer (sans helmet)

Puma

  • Senior CVO Member
  • ****
  • Offline Offline
  • Posts: 359
  • www.CVOHARLEY.com
    • NJ


    • CVO1: 2014 FLHRSE Dragula 2, SESTP, C&C Fastback
Re: How does one sell a bike that is financed?
« Reply #27 on: July 28, 2015, 10:59:00 AM »

Didn't mean to imply I knew what you were feeling.........and you are right anything with 2 wheels that can reach hwy speeds is better than nothing. Don't think it will come to a repo as you are not up-side-down. When times are tuff, hunker down!!! If all else fails PM me.
You're right, I think I can avoid a repo. At the very least that would be down the line a ways.
Logged
2014 CVO Road King: Titianium/Black, Dragula 2 (2-1), SESTP, C&C Fastback

2018_FLTRXSE

  • 1K CVO Member
  • *
  • Offline Offline
  • Posts: 2227
  • Wait 6 months?... YES it was worth the wait!
    • HI


    • CVO1: 2018_FLTRXSE, Gunship Grey, (Delivered July 28, 2018... after almost 9 )
    • CVO2: 2001_FLTRSEI, Grey/Black/Silver w/Hannigan Hack and a blast to ride.
    • CVO3: 2012_FLTRXSE, Maple/Black (Delivered 1/20/2012 - Traded 10/25/2017)
Re: How does one sell a bike that is financed?
« Reply #28 on: May 23, 2019, 01:48:36 AM »

Howard those are great rates but I'm sure not for everyone. It's going to depend on the applicant's credit rating. I haven't purchased anything since 2012 but I refinanced my home then and I got a very respectable 3.125% with a 780 credit score. Sounds like rates have dropped since then. Not worth refinancing again for .625% by the time they add those closing fees and such (imo). Maybe I will see what's out there for my bike though. I'm under 14k now.  Might save me some change?

Jesse

I know this is years after the OP.

I remember getting 1.05% from Eaglemark for the 105th anniversary in 2008 so they will come down on rates.. and as hot as they are to sell bikes NOW, they probably will again.

I just finished taking care of my '18...

Dealership had a Orange '12 CVO ultra that caught my eye but they wanted about $3k too much for it.
Logged

No more Hawaii HOG Rally... ask HOG why...

scottt

  • Elite CVO Member
  • *****
  • Offline Offline
  • Posts: 761
Re: How does one sell a bike that is financed?
« Reply #29 on: May 23, 2019, 11:40:52 AM »

Try rumbleon.com, they buy bikes, provide a quick cash offer. They handle all paperwork and pick the bike up. Cost you nothing to check out.

Good luck

Sent from my SM-J327T using Tapatalk

Logged
Pages: 1 [2]  All
 

Page created in 0.284 seconds with 25 queries.