Motorcycle Financing Questions

MIKES3

TCG Elite Member
May 25, 2007
3,835
21
Algonquin, Illinois
I'm looking at a 2009 Harley-Davidson XL1200N Nightster. It has 3700 miles on it and he only wants $7500. I'll get him down to at least $7k and I'm happy, but onto the next step.

I'm going to go through a credit union because that's where I've seen the best rates for bikes. How do they go about pricing out the bike and givng what you need for the Bike?
 

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SirMarco

of Pingree Grove
May 11, 2009
12,785
3,294
Pingree Grove
For me it was about the same as a car. They have there value on what it's worth retail/privet/etc.....
$7K is pretty decent for that bike. You shouldn't have any issues getting a loan for that.

P.S. Get forward controls for that bike. I'm, on a good day, 5'8". The mid-controls make me to crouched up on that bike. You'll be a lot more comfy with your legs stretched out slightly.
 

MIKES3

TCG Elite Member
May 25, 2007
3,835
21
Algonquin, Illinois
For me it was about the same as a car. They have there value on what it's worth retail/privet/etc.....
$7K is pretty decent for that bike. You shouldn't have any issues getting a loan for that.

P.S. Get forward controls for that bike. I'm, on a good day, 5'8". The mid-controls make me to crouched up on that bike. You'll be a lot more comfy with your legs stretched out slightly.

Good eye on that one. I'm almost wondering if I'm to big for that bike. I'm about 5'10" @ 210lbs

Must test this out. It's just these 1200s are so much more nimble than the bigger bikes. This would be my first motorcycle.
 

MIKES3

TCG Elite Member
May 25, 2007
3,835
21
Algonquin, Illinois
For me it was about the same as a car. They have there value on what it's worth retail/privet/etc.....
$7K is pretty decent for that bike. You shouldn't have any issues getting a loan for that.

P.S. Get forward controls for that bike. I'm, on a good day, 5'8". The mid-controls make me to crouched up on that bike. You'll be a lot more comfy with your legs stretched out slightly.

Also what kind of terms can you get? Can I get a 4-5 year loan if need be?
 

MIKES3

TCG Elite Member
May 25, 2007
3,835
21
Algonquin, Illinois
well for reference.. when i bought my sporty a few years ago.. paid 8k and financed 4 years @ 8% thru a credit union.

your not too big for that bike but forward controls would definitely help you out. rode my xl1200 for 2 years before selling it with forwards and im 5 11 195

I have to be nosey, what were your payments? I'll have a rough idea as to where I'll be. Hopefully not over $150 a month for rme
 

Mike K

TCG Elite Member
Apr 11, 2008
13,214
2,586
8% financing through a credit union? Yowzas... Usually the whole reason you go to a credit union is lower rates.

My credit union uses NADA for value. I'm not sure if there's a NADA for bikes but NADA for cars is pretty generous in it's pricing. I think I'm at 1.99 with the bimmer and terms aren't a big deal. Expect to pay a little more in interest with extended terms though.
 

SirMarco

of Pingree Grove
May 11, 2009
12,785
3,294
Pingree Grove
Yeah you are not to big at all for that bike.
I was going to get a Nighster 1200 but walked out with my VRod. Only reason was the Nightster was nowhere to be found.
You will love that bike. They have enough go but shouldn't be to much. Plus the look cool as is and there are 1000s of bad ass aftermarket shit for them on the cheap.
 

Frank Dukes

TCG Elite Member
May 5, 2009
4,528
6
Rockfordia
8% financing through a credit union? Yowzas... Usually the whole reason you go to a credit union is lower rates.

My credit union uses NADA for value. I'm not sure if there's a NADA for bikes but NADA for cars is pretty generous in it's pricing. I think I'm at 1.99 with the bimmer and terms aren't a big deal. Expect to pay a little more in interest with extended terms though.

well for starters - bikes are a luxury item and financed as such. cars are always going to be cheaper to finance than bikes, boats, etc. its not that i had bad credit, i just didn't have much of it.

anywho... yes payments were right around 150
 

Mike K

TCG Elite Member
Apr 11, 2008
13,214
2,586
Sorry, wasn't trying to say you had bad credit. 8% just seems really high even for a luxury item. Maybe they're all that high though. Just seems like a lot of money. I'd try to put down as much as I can in that case because you'd be paying $1500 in interest on $7000 which is effectively 20%.
 

MIKES3

TCG Elite Member
May 25, 2007
3,835
21
Algonquin, Illinois
well for starters - bikes are a luxury item and financed as such. cars are always going to be cheaper to finance than bikes, boats, etc. its not that i had bad credit, i just didn't have much of it.

anywho... yes payments were right around 150

Totally understand what you're saying. Not enough credit sometimes hurts as well. My wife learned when we bought a new car in December. I'm hoping to get some where around 3-5 percent
 

Yaj Yak

Gladys
TCG Premium
May 24, 2007
122,671
89,067
Niche score of 2,363
Sorry, wasn't trying to say you had bad credit. 8% just seems really high even for a luxury item. Maybe they're all that high though. Just seems like a lot of money. I'd try to put down as much as I can in that case because you'd be paying $1500 in interest on $7000 which is effectively 20%.



it is because it is a used luxury item... and harder to repo than a car :rofl:
 

wolfe

in black sheep's clothing
Jun 2, 2008
17,632
333
Si Oh Em Pee Tee Oh En
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