Buying a Harley – Will That Be Cash Or…You’ve decided on what model Harley to buy, but there remains one major obstacle – how to pay for your dream bike. If you are still wavering on bike choices or whether to buy new or used be sure to check out ” Harley For Sale ” article. For those with cash-in-hand, recent lottery winners, or those that have been saving their nickels, what are you waiting for? Get out there, buy that new Harley, and enjoy the ride! For many however, buying a bike will require financing. Let’s face it, Harley’s aren’t cheap! But that doesn’t mean you have to wait a lifetime saving up for one. Interest rates are lower than they have been in years and finance companies are starting to approve motorcycle loans as easily as auto loans. Some banks still frown on motorcyclists or hike rates for them. Take your business elsewhere if that is the case. When I decided to buy my last Harley new, I went shopping around. Not for bikes or dealers, but shopping for the money. What I found when hunting for loans were a lot of fine print and hidden costs, aside from the occasional “NO”. Even the H-D motor company financing, while competitive had terms that could still be beat elsewhere. After seeking loans that met my approval and terms I could live with, I found that some of the best deals were online. Maybe it has to do with less overhead or automation, but I was able to find rates and terms through major finance companies that were better than what I would have received calling them on the phone. The best deals on motorcycle loans I found were online or with credit unions. Maybe it has to do with less overhead or automation, but I was able to find rates and terms through major finance companies that were better than what I would have received calling them on the phone. Whether online or at a bank, be sure to verify that they finance motorcycles before applying. What works out for you may vary, but for me personally these companies were a pleasure to deal with. I even found some that offered financing on used motorcycles, something many banks won’t do. For anyone saving to buy a Harley, the biggest suggestion I can make is don’t wait too long. Set goals for yourself and do whatever it takes (within reason) to get out there and ride. For some this may require paying down current debt, reducing a few unnecessary bills (do you really need 400 cable channels?), or even refinancing a current car loan to a lower interest rate. Every little bit helps.
Update : I just recently refinanced my Harley… and saved even more money! Read more in this article – Harley Motorcycle Refinance .