So YOU Really Want to Ride?
OK, you finally decided on which 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 stop by a Dealer and get yourself on the right bike.
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 are not cheap and they hold their value! But that does not mean you have to wait 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. What I find when hunting for loans is a lot of fine print and hidden costs, aside from the occasional “NO”.
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.
Don’t forget to check into insurance for your new or used bike. This is often overlooked and could end up costing you more than you expected. This is also a good opportunity to save some cash to spend on your new ride or chrome goodies since you could save money on your current insurance (both car and bike). Rather than spending time on the phone with insurance agents trying to sell you their products, check out Geico, that's what I have and get a free online quote without getting hassled by some insurance salesman. I also ended up with better coverage from a company that provides coverage specifically for motorcycles and not just modified auto coverage.
So with this info maybe it's time to get out there, pick up your new Harley from us and RIDE SAFE!
Till Next month/