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[altugo]

Well their credit arm got hit hard.Also MV Agusta is for sale.Heres a link:


http://www.motorcycledaily.com/25november09_hdcreditarm.htm

[JeffsHogPen]

For so long Harley Credit has been making a killing out of most Financing their Motorcycle. I went with them when I bought my first Bike. Caught up in the moment they stuck it to me real good. (I have heard this same thing more from others) When I bought my FXSTSSE I went through my own Bank. Saved Myself Money. So maybe if they treated their customers better without ripping their heart out then more might return to Finance. I am all for being fair. I know that they need to make money to stay in Business. However H.D Finance has been taking advantage so long. Its hard for me to believe that they are loosing money like they say.

[NVTHIS]

I second that Jeff, I used Harley Credit for my 08 Fatboy and was I ever sorry. So I used my Credit Union for the SEUC and refinanced the Fatboy at the same time. I would have been happy to use then again if they were fair. 

[miker]

Hugh default rate.....

[JCZ]

Hugh default rate.....

That's why they're being bailed out.  They're still willing to sell to anybody that has a job regardless of their credit score.

[JeffsHogPen]

My Credit Score did not have anything to do with it. I got caught up in the moment and they took advantage of me. I have bought several new vehicles and a couple of Houses. Never before was I ever sorry. All I can say is that when I decided to get my CVO......Harley Credit was not even a consideration.

[strangebird]

Let's not forget the dealer marking up the interest rate they get from HD or any lender

 What the dealers make for the rate mark will cost you big bucks in interest over the loan term another way to gouge you, that is after they hosed you on the sale of the bike, always ask and demand to see the rate they are getting from whoever they are offering you a loan from. If they will not show you get up and leave be firm in this.

[Chains]

Harley is not alone in markup by dealers on interest rates, try your own financing and compare it to a car dealership you will be shocked.  Anyone that provides financing loves to get you in the room with their finance manager and get you on the hook.  I hope they all go out of business.

[Wanna ride]

From what I gather, it sounds like the MoCo and the stealerships are in cahoots here. But here's my experience... I bought  my current bike through Harley's financing. I've got pretty good credit, own my own home and a couple newer vehicles. These were the only things I owed money on. No boat loans, no college loans, no second mortgages, etc. I got approved for 5.75% financing, and checked the rate at my local bank(where my mortgage and car loans are also) and the best I could get there was about 6 or 6.25%.

With this HD deal, I had to put down a minimum of 10% and could finaqnce up to 72 months, but I opted to put down 20% and only go for 48 months. Pretty much the same way I do my new cars/trucks. I just can't see making payments on something for 5 or 6 years. Now, a lot of manufacturers are offering 0-1% on new car loans, but mine are still i ngood shape, I owe a lot less than their worth, and I'm not buying a new vehicle just because the rate's good. I usually pay these types of loansd off 6-12 months early as well.

Now, I was pretty content with this deal through HD but what really struck me as odd was the fact that they will "pre-approve" you for X dollars above the cost of your bike. Do people really buy jackets, motorclothes, helmets, etc on these loans? What the hell are they thinking?

[CVOTequila]

From what I gather, it sounds like the MoCo and the stealerships are in cahoots here. But here's my experience... I bought  my current bike through Harley's financing. I've got pretty good credit, own my own home and a couple newer vehicles. These were the only things I owed money on. No boat loans, no college loans, no second mortgages, etc. I got approved for 5.75% financing, and checked the rate at my local bank(where my mortgage and car loans are also) and the best I could get there was about 6 or 6.25%.

With this HD deal, I had to put down a minimum of 10% and could finaqnce up to 72 months, but I opted to put down 20% and only go for 48 months. Pretty much the same way I do my new cars/trucks. I just can't see making payments on something for 5 or 6 years. Now, a lot of manufacturers are offering 0-1% on new car loans, but mine are still i ngood shape, I owe a lot less than their worth, and I'm not buying a new vehicle just because the rate's good. I usually pay these types of loansd off 6-12 months early as well.

Now, I was pretty content with this deal through HD but what really struck me as odd was the fact that they will "pre-approve" you for X dollars above the cost of your bike. Do people really buy jackets, motorclothes, helmets, etc on these loans? What the hell are they thinking?

I had my stealer kick in an additional few thousand for potential upgrades (mostly for the exhaust) on my financing through HDFS, but then again, I will also have that loan paid off pretty soon  , but you are right, I can't believe that people actually finance motorclothes! 

[Cigarmike]

Harley is not alone in markup by dealers on interest rates, try your own financing and compare it to a car dealership you will be shocked.  Anyone that provides financing loves to get you in the room with their finance manager and get you on the hook.  I hope they all go out of business.

lol, yea f-em, let em all go kick rocks.

[Wanna ride]

F&I have always been profitable for dealerships. But as a consumer, you have to be educated about major purchases. I look at it like this... if you're not, then shame on you for being so foolish.