Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[Rkw]

Can those who are financing (not paying cash ) for their new bikes, particularly their new CVOs or non CVO 15s, what interest rates are you seeing. Rate and terms and model/ yr of your bike.

 For example, USAA motorcycle rates are 5.99% for up to 72 months and 0 down.

Harley offers 0.9% on certain models only. They aren't offering 0.9 % on 15 CVOs.

Some rates are higher based on 0 down, or lower if at least 10% or more down.

This forum may help others to find a lower rate and refinance from a higher rate.

[East Coast]

When I left my deposit on the new bike I asked the dealer about current rates. The financing guy told me they (Harley/EagleMark Bank) were offering 3.9% if you have a credit score above 750 for most bikes, CVO's included. He added the rates will probably remain the same into next year as he hadn't heard of any changes coming down the pike.

I also called my insurance company, they were offering 6.5% on a new bike.

[skullplant]

3.25 on my 2015 CVO SG.

[2k]

At 5.99% for 72 mons you are gonna pay an extra $7k on a $30k loan. Take a 2nd mortgage.....much cheaper and deduct from taxes.

[ultrarider123]

Go to your local credit union.  1.89% for up to 60 months, 2.19% for 72 months at all three of our local CU's here in Oak Ridge.  That's for any new vehicle (cars, trucks, motorcycles, etc) from 2013 to current, any used vehicle from 2011 to current and if you have good credit.

Beats the MoCo rates and most bank rates.  If you have a CU near you, check with them.  Normally they will have better rates than most banks.

[grc]

Unless a manufacturer is having a special, like many of the auto companies where they offer below market rates or even zero percent, you are usually better off to arrange your own financing versus using a dealer.  The dealers don't arrange loans for free, they add on to the true rate they get from the lending source and pocket the difference.  One of the best sources of lower interest loans is as Haird mentioned, local credit unions.  Other options like a secured loan can result in below market rates as well.  By a secured loan I mean a situation where you have an account with an institution with $XX in it.  You arrange to take a loan and use that account as collateral, rather than the vehicle.  This used to be a fairly widely available option, I have no idea if banks and credit unions still offer it these days.

As for using home equity loans or second/third mortgages, many people have done that over the years but I have a philosophical problem with that approach.  I don't believe in risking your home over something like a car, or even worse a toy like a motorcycle or boat.  As millions of people learned in 2008, stuff happens that is beyond your control.  It's much better to have a toy repossessed than it is to have a home foreclosed.

JMHO - Jerry

[SkunkyGlideShark]

Credit unions are usually a point or two lower than the norm. I have found that in the few times I have financed it is easier to get them down on the purchase price bc they pocket loot on the loan.

[DesertHOG]

Go to your local credit union.  1.89% for up to 60 months, 2.19% for 72 months at all three of our local CU's here in Oak Ridge.  That's for any new vehicle (cars, trucks, motorcycles, etc) from 2013 to current, any used vehicle from 2011 to current and if you have good credit.

Beats the MoCo rates and most bank rates.  If you have a CU near you, check with them.  Normally they will have better rates than most banks.

Those are some very generous CUs that you have in the hill country there. Our local CUs charge more for motorcycles and I checked with my CU and the 2 largest CUs in Albuquerque. They are all 4.5% or higher on motorcycles. In the past I asked our local branch manager about the reasoning and she stated that if the loan goes bad the have a terrible time trying to repossess the bikes. I guess folks either keep them in the garage or on the road

DH

[krypto2011]

Go to your local credit union.  1.89% for up to 60 months, 2.19% for 72 months at all three of our local CU's here in Oak Ridge.  That's for any new vehicle (cars, trucks, motorcycles, etc) from 2013 to current, any used vehicle from 2011 to current and if you have good credit.

Beats the MoCo rates and most bank rates.  If you have a CU near you, check with them.  Normally they will have better rates than most banks.

My CU has been offering 2.75% for about 4 years now on any harley that is no older than 3 model years at time of financing. They will do that rate for up to 72 months!!!  I used them short term when  I bought my krypto used 2 years ago.

[FLSTFI Dave]

My bank, USAA is 5.99 with .25 off if you do automatic payments.

Navy Federal Credit union was 5.99, which is my Credit union.

I could have got lower locally.  When with USAA just to keep it easy, only borrowed 15K on my 15 CVO RG Ultra.  Then I did 10K on my wife's 15 RG Special.  They just take then notes out of my retirement check.

[MiCrow]

2.99 on my 2015 FLHXSE for 60 months though my dealer, but not Eagle Mark, but my credit score is at 800.

[BreakoutCVO]

I went through my Credit Union under 2% rate. Thats the best way for me. Banks around here were all above 4%.

[TNCarters]

My main CU which I've been a member for 40 years apparently had to repo some bikes a few years back and no longer wants to finance them.  Another local CU, Southeast Financial has 2.5% for 60 months.  I did not qualify to join so asked them how I could qualify and response was to make a $5 donation to their favored charity which I did and joined.  Money was not an issue, just thought it funny their qualification requirement.

[2018_FLTRXSE]

Great post!

One of our younger club guys who had a '13 sporty totalled and replaced with a '14 dyna has had a wild hair up his ass about buying a new SG Special.

He's upside down and the wife apparently isnt good with finances, so their credit is in the chitter.

Local dealer wanted 16.99%... I told him shop around OR wait till his credit is in better shape and he can call the shots.
.

[CVOStreetglide]

My bank, USAA is 5.99 with .25 off if you do automatic payments.

Navy Federal Credit union was 5.99, which is my Credit union.

I could have got lower locally.  When with USAA just to keep it easy, only borrowed 15K on my 15 CVO RG Ultra.  Then I did 10K on my wife's 15 RG Special.  They just take then notes out of my retirement check.

Dave

I'm curious, Did USAA write your bike policy or send you over to Progressive their subsidiary? 

I ended up at Progressive with my 2015 CVO SG AFTER 30 years of car, bike and house policies. I still have USAA for my house and cars and the USAA online system shows the Progressive policy as a line item and a link.

Regards

Jerry