Here's a bunch of crap!

[xxxperience]

Hey everyone-today I applied for the purchase of my second bike, first off, they told me that "it will only take an hour to process your credit app" cool I thought, after about 6 hours they have the balls to say " your credit score is great, and everything looks good, HOWEVER our banks cannot finance you??????? What the crap?? Does that make any sense?? I tell you what, these dealers are just loosing a whole lot of business pulling this kind of crap!

[Preacher]

I got the same kinda crap from them. I have a FICO of 769 and they actually had the balls to say, "You don't have any debt. You don't owe enough to borrow the money so we can't finance you."

WTF? I pay my bills on time, pay my credit cards each month and that is a hit??

[albe]

Preacher, could be that they figure you'll pay the debt off so fast you're not worth the hassle since they won't make enough $$$ off the financing deal.

[HotRodSporty]

Why not get a loan outside the dealer. Its cheaper. AMerican Genral of AIG gives motorcycle loans at a good rate.

[creep]

Wow... and here I'm trying to fix my credit. I usually get rejected cus I dont pay my bills on time.

[xxxperience]

you'll probably have better luck then me, its just simply ridiculous!!!!

[Preacher]

Preacher, could be that they figure you'll pay the debt off so fast you're not worth the hassle since they won't make enough $$$ off the financing deal.

They would be right.

But it is still a pain in the butt. I like having good credit. I will go out of my way to finance something, especially if they have a "1 year, no interest" type thing, just to add to my credit. I pay on it for 6 months so it hits my reports, then pay it off. I did get financed for the bike, but only because my wife and I did the loan request jointly (what a joke that was, our combined FICA score had the Vette dealer offering to shine my shoes) and I will pay it off in December.

Screw them if they can't take a joke. :smoke

[Y2K]

If you're a homowner get a low interest home equity loan.
That way you can write off the interest and get the title to the bike.
Y2K :smoke

[turfpro]

I have a good fico, and keept on getting " you dont have enough credit history and your self employed" between the 2 I was screwed. So had to put $4000 down, That worked for Harley financing.

[HarleyHunnie883]

We just financed an '04 Sportster 1200 custom at our credit union for 3.2%!!!

Credit Unions are the way to go!!

[thatbikerguy]

I usually get rejected because I dont pay my bills on time.
Hey Preacher... Joke 'em if they can't take a F (Smileys not working)

[XLFREAK]

Hey everyone-today I applied for the purchase of my second bike, first off, they told me that "it will only take an hour to process your credit app" cool I thought, after about 6 hours they have the balls to say " your credit score is great, and everything looks good, HOWEVER our banks cannot finance you??????? What the crap?? Does that make any sense?? I tell you what, these dealers are just loosing a whole lot of business pulling this kind of crap!

My score is just a little above yours. I got a better rate period...H-D financing is for the birds IMO. You should never have had any problems with your FICA score. F them...

Loco
So. Cal...

[albe]

<Devils Advocate>On the other hand, if you're going to get a loan, and your credit history shows you'll pay it off very quickly, why SHOULD they go through all the hassle of setting up the account, sending you bills, dealing with the lein on the bike.....?</Devils Advocate>

The lender was definitely penalizing you for being a fiscally responsible individual. I too have an excellent credit rating -- I expect that to allow ME to set the rules...If someone won't give u credit and you have a good rating, you don't want to do biz with them anyway.

I'm financing the scoot through HD...They actually tried to raise the interest rate based on how many years extended warranty I would purchase...

<rant>
It sure seems like lenders, insurance co's, and lobbyists in general set all the rules of our country....oh, and the media...
</rant>

[JohnMonk]

I'm not buying the whole "we won't finance you in fear of early payoff" thing.
I've seen people get loans after they pay a car off in less than a year. They first look at scores, then debt to income ratio. I was a little worried when I applied because I had just bought a new house (that dropped my score from the 790's to just over 700) and a new MINI for the wife. He came back in 10 minutes and said pick what ever you want, you're approved with no $ down. So what do I do? I get one of the least expensive bikes on the lot with a chunk down. I plan on paying it off in a year. If they fed you that crap, I'd go to a different dealer (for waisting your time) and have check in hand.

[txsporty]

We just financed an '04 Sportster 1200 custom at our credit union for 3.2%!!!

Credit Unions are the way to go!!


My Credit Union Laughed at me when I told them I wanted a loan for a Motorcycle!!!! :yikes

HD financed me at 7% refinanced at State Farm Bank for 6% knock a year off the loan and got a Letter from HD Credit saying anytime I want another bike bring this letter in and it's your's!!!! :D

[xena]

I'm with johnmonk. I don't believe that bs either....especially since HD doesn't implement any "early payoff" penalties I'd guess that they give plenty of loans that get paid off in a year or two.

[MusclePump]

I own my home, own my car (bought brand new paid it off in six months), have never paid any credit card or bill late. I went to the dealer and told them I wanted this certain bike (the 883L I bought). They run the credit, tell me I can pick any bike on the lot, nothing down, told me I can add as much motorclothes and accessories, etc... as I want, they'll finance it all--that's how much I was approved for. So I said, "Yeah, just the bike." About twenty minutes later they come back tell me I can get 6.99% if I buy the extended warranty, 8.99 if I don't! I wasn't buying it, so I said I wanted to just buy it with my credit card. Then they told me I can't put more than $2,500 on my credit card. So I just 'financed' it, and I'm paying it off as soon as I get my first bill. Screw them. Maybe they were trying to squeeze the interest out of me while they could since my credit shows I paid off my car after six months and my 15-year mortgaged house after twelve months?