Harley-Davidson Financing: Everything You Need to Know

Having just turned 21, you’re now eligible to get a motorcycle loan from a bank. Maybe you’ve saved up for years, or maybe you took out a loan from the bank to buy your bike. Either way, you should know about Harley-Davidson financing. It’s no secret that Harleys are expensive. Even with a low monthly payment, a Harley can quickly drain your bank account. On top of that, you’ll have to buy accessories like a kickstand, a helmet, and protective clothing. Luckily, there are other ways to get a Harley Davidson. You can buy a motorcycle and customize it, or you can get a Harley Davidson financing. In this article, we’ll teach you everything you need to know about Harley Davidson financing.

What is Harley Davidson Financing?

Harley Davidson financing is a loan from a bank or lending company that lets you buy a Harley Davidson with an inexpensive monthly payment. Harley Davidson financing can be for any type of Harley, and it’s one of the best ways to afford a new bike if you don’t have a lot of cash on hand.

How Does Harley Davidson Financing Work?

It’s important to know how Harley Davidson financing works before you apply. Harley Davidson financing typically has no down payment, and the interest rate is lower than a traditional loan. This allows you to buy your bike without having to pay a large initial investment. With Harley Davidson financing, you sign an agreement with the company that allows them to charge interest over time. Depending on the amount of money you borrow, these rates can be quite high: 12-20% for $10,000 in loans and up to 24-30% for $25,000 in loans.

You’ll need to pay fees upfront for Harley Davidson financing. These fees vary depending on the type of loan you’re taking out and which bank offers it. But as an example, if we were talking about a motorcycle loan from Honda Federal Credit Union (HFCU), there would be two separate fees: one that covers administration costs and another fee that covers insurance on your bike while it’s being financed by HFCU.

In addition to these fees, you may also have to make monthly payments on your motorcycle loan. At HFCU, this would be around $70 per month or so, depending on your credit history and other factors like how much money they think they can lend you, and this could last up to 84 months (7 years).

What Are the Pros of Harley Davidson Financing?

Though the cost of a Harley is high, there are many benefits to getting financing for your motorcycle. Harley Davidson financing provides an affordable way to get a bike. Most motorcycle loans are for two or three years, but some can extend up to five years.

What are the cons of Harley Davidson financing?

Of course, there are some cons to Harley Davidson financing. One of the biggest cons is that you’ll have to make monthly payments for a long period of time.

Harley Davidson financing can last up to 10 years, and it can be hard to pay off your bike in that time. It’s important to make sure that you have an emergency fund for anything that could come up during this time.

Another con is that Harley Davidson financing isn’t available everywhere. Your bank may not offer it, and if they do, they may only offer interest rates as high as 13 percent. You’ll need to do research before you sign on the dotted line, so you’re certain you’re getting the best deal possible.

Should You Get Harley-Davidson Financing?

Whether or not you should get Harley Davidson financing depends on your financial situation. If you have a stable job, have good credit, and are able to make regular payments, it might be worth getting a loan. On the other hand, if you’re just starting out in the workforce, have bad credit, and can barely cover your monthly bills – don’t get Harley Davidson financing.

How to Apply for a Harley Davidson Loan

Many Harley Davidson financing companies offer a variety of different loan options. They may be able to give you a few different rates, terms, and even down payment amounts. Some companies will also allow you to trade in your old bike as well. It’s important to find one that will work for your situation!

How Much Does a Harley Davidson Cost?

Harley Davidson motorcycles are some of the most expensive in the market. In fact, they’re more expensive than other brands like Honda and Suzuki. A new motorcycle ranges from $20,000 to over $40,000, with some models starting as low as $10,000. Of course, it all depends on what you’re looking for. You can get a Harley Davidson that is pre-owned for about $5,000 to $8,000. But if you want one that is in good condition and has been maintained well by the previous owner, you’ll have to spend at least $10,000 or even more than that.

Is Harley Davidson Financing Worth it?

Whether or not Harley Davidson financing is worth it depends on your finances and your needs. If you’re someone who can only afford to pay for a bike in monthly installments, then Harley Davidson financing might be worth it for you. On the other hand, if you have a steady income and the money to cover the entire cost of a Harley Davidson up front, then you might want to save yourself the interest and buy outright.

There are many benefits of Harley Davidson financing, including low monthly payments and installment options. Plus, they offer financing terms that range from 18 months to 6 years! You can also take advantage of special offers like zero percent APR until June 2020 or even 0% APR with approved credit*. There are many different ways to save with Harley Davidson financing. The best way to figure out whether or not this type of financing is right for you is to reach out to your local dealership for more information.

Conclusion

Harley Davidson financing can be a big help to those looking to get into a Harley Davidson but don’t have the cash on hand. It’s important to remember that this is a loan, so there are pros and cons that come with Harley Davidson financing. If you have good credit and a decent job, you may find this is a great way to get the Harley Davidson you’ve always wanted!