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I wanted to get some opinions on financing. I have never financed a bike, and I realize that they typically cost more in interest because banks consider them a luxury or a toy like a 4-wheeler. A bike is my only transportation, but they probably don't care about this.

I have good credit, and I plan to shop around for a better interest rate than 7%, which is what Indian is offering for 72 months.

Any ideas or suggestions? I understand that credit unions can often be helpful in scenarios like this, but I plan to check maybe 3 places, with Indian being one if the other two don't offer something better.
 

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Hmmmmmmm...not even sure they do 72 months.

I bought mine from FT Worth Indian in Texas. They are owned by the HD dealership next door. Now...I have the advantage of (1) being quite old (2) having great credit and (3) putting $10K down on the bike. I got 0.99% for 5 years. I figured that was cheaper than pulling money out of the bank. Others I know gave themselves a loan from their 401K and pay the interest to themselves.

Check various dealerships and find out what interest is being offered. 7% is too damn much.

Semper Fi,
DrZ
 

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My credit union offers 2.49% for 36 months or less, 2.99 % for 60 months, or 5.1% for 84 months on motorcycle loans for new models. (Landmark Credit Union if you need the source of the info).
 

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I'm not sure if you own your home or have equity built-up, but if so, you might want to look into a Home Equity Line Of Credit (HELOC). Banks are again writing these loans and rates are usually tied to U.S.Treasury instruments...Prime is at 3.25% and should be close to a rate you can get. Terms vary, but 10 years are common. Remember that these loans qualify for tax deductions on your U.S. taxes. I hope you get things worked out so you can buy your Indian.
 
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