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Discussion Starter #1 (Edited)
Since I'm planning on financing a Scrambler later this year, I was curious to see what impact the credit crunch might have. I called my local dealer and the salesman said he'd just financed a guy with a 720 score in 5 minutes. I found that reassuring.

Anyone have a recent bike financing experience they want to share? Are you finding it doable but paying higher interest than you would've a year or two ago?
 

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If you're a member of a credit union, it's worth checking there for a loan.
 

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Triumph financing

Local dealer is offering....

Triumph Promotions
Effective 1/20/09 thru 3/31/09
Buy any 2008 or Prior Year Rocket III, Rocket III Classic, Rocket III Classic Tourer, America, Bonneville T100, Scrambler, Speed Triple, Speedmaster, Thruxton, Sprints ST 1050/ABS, Tiger 1050/ABS
and Receive

As low as 3.9% financing
OR, $750 - $1,500 in Triumph Clothing & Accessories
OR, $450 - $1,200 Cash Rebate
depending on model
 

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Credit Unions is where its at. The one I currently work at treats bikes the same as cars...and we're currently at 5.55%. Since I work there, I refi'd my Daytona 675 at a rate I cannot disclose. See if you can get a list of all the credit unions around your area and call them up asking what they finance motorcycles at. Target the ones that treat motorcycles like cars.

give Digital Federal Credit Union a try too. You can become a member easy too.
 

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Triumph ended their 3.9 financing on 1.31.09. That was the day I got my R3T. 3.9 % was better than the credit union could do.
 

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Credit Union if possible. I financed $5,000 on a used Sprint in August and they gave me a sub 4% loan. It was only one year but it was much lower than I expected.

There is still plenty of loan money if you have good credit.
 

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I just financed my Scrambler through USAA Federal Savings Bank (a bank/insurance company for members of the Armed Forces and their families) at 6.74% for 3 years. I plan on paying it off early, though.
 

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Discussion Starter #10
I just financed my Scrambler through USAA Federal Savings Bank (a bank/insurance company for members of the Armed Forces and their families) at 6.74% for 3 years. I plan on paying it off early, though.
UJM - Did you buy before or after Triumph announced they're doing 3.9 on '08 and earlier Scramblers?
 

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UJM - Did you buy before or after Triumph announced they're doing 3.9 on '08 and earlier Scramblers?
Before, Unfortunately. Not that it's a big deal to me - I plan on paying this bike off early and I have a well-established relationship with USAA.

Plus I always worry that if I try to negotiate financing it complicates the negotiating process. By bringing my own financing and by not trading in a bike, there is only one thing to negotiate: The selling price. I got my Scram for about $1500 under MSRP because it was a service loaner with 1270 miles on it (still registered, titled and warranted as a new bike though) so my feeling is I got a pretty good deal, plus I got the dealer to drop most of the bogus charges (assembly, transportation, etc.) My OTD price was a hair under $6900, not including tax.
 

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Discussion Starter #12
Before, Unfortunately. Not that it's a big deal to me - I plan on paying this bike off early and I have a well-established relationship with USAA.

Plus I always worry that if I try to negotiate financing it complicates the negotiating process. By bringing my own financing and by not trading in a bike, there is only one thing to negotiate: The selling price. I got my Scram for about $1500 under MSRP because it was a service loaner with 1270 miles on it (still registered, titled and warranted as a new bike though) so my feeling is I got a pretty good deal, plus I got the dealer to drop most of the bogus charges (assembly, transportation, etc.) My OTD price was a hair under $6900, not including tax.
Martin - sounds like you did get a great deal! That's good to know about getting those bogus charges waived too. I don't want my dealer to make nothing on the deal since I need them to stick around, but pay for assembly, etc.? Don't think so!
Greg
 

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I got the dealer to drop most of the bogus charges (assembly, transportation, etc.) My OTD price was a hair under $6900, not including tax.
Martin - sounds like you did get a great deal! That's good to know about getting those bogus charges waived too. I don't want my dealer to make nothing on the deal since I need them to stick around, but pay for assembly, etc.? Don't think so!
Greg

Why are these charges bogus? Your local dealer has to pay for the bike, and shipping from Triumph. These are real charges, plus once the bike gets to the dealer (in a big crate) the dealer has to finish assembly of it, which is shop time. So what you are saying is that the dealer should not make a dime off the sale of the bike. And then of course everyone whines when their dealer goes out of business. The sale of a bike is a pretty low profit deal. Bikes, at least Triumphs, are not real high profit items. And the charges are not bogus. Unless you call real charges your local dealer pays, bogus.
 

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Credit unions are it!!! Financed my bike last year at I believe 7.02% and am working on early pay off. Yes the Triumph 3.39% was available but by going thru my credit union I was able to walk in as a cash customer and work a better "cash" deal that save me more than a retail deal at 3.39%
 

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Discussion Starter #15
Why are these charges bogus? Your local dealer has to pay for the bike, and shipping from Triumph. These are real charges, plus once the bike gets to the dealer (in a big crate) the dealer has to finish assembly of it, which is shop time. So what you are saying is that the dealer should not make a dime off the sale of the bike. And then of course everyone whines when their dealer goes out of business. The sale of a bike is a pretty low profit deal. Bikes, at least Triumphs, are not real high profit items. And the charges are not bogus. Unless you call real charges your local dealer pays, bogus.
I'm all for dealers making a fair profit - where's their motivation otherwise? But judging by the experiences of people here, the fact that many dealers are willing to negotiate even when times are good suggests there is some room for give and take between dealer and buyer to their mutual satisfaction, even if it's not on the price of the bike itself. As I small bicycle shop owner I couldn't always compete with the big guys on the price of a bike, but I could give them value in the form of service, breaks on accessories, customer referrals, etc. Dealers need to make money so they can stay in business and the customer needs to feel like the dealer appreciates their business and will take care of them after the sale. If they have a "we're the only game in town so take it or leave it" approach and won't even bother to say why they won't negotiate, I'm apt to take that as an indication of how they do business in general and buy somewhere else, even if that means getting another brand. On the other hand I wouldn't expect a small shop to wheel and deal like the big guys, but instead sell me on the long term value of buying from them. I won't just blindly pay whatever the dealer asks without expecting something in return that shows the dealer values me as a customer.
 

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I did finance a portion of my Street Triple and the process was simple, quick and painless. Got a great rate, my dealer was not high pressure at all, and I got a nice break on the bike plus several accessories I chose at the time of purchase.

I've been in automotive sales for over 9 years and I totally respect and understand that businesses need to make a profit so that they're around to service my bike in the future. I know there are very thin margins in bikes so the discount I received was welcome and really appreciated.
 

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I'm all for dealers making a fair profit - where's their motivation otherwise? But judging by the experiences of people here, the fact that many dealers are willing to negotiate even when times are good suggests there is some room for give and take between dealer and buyer to their mutual satisfaction, even if it's not on the price of the bike itself. As I small bicycle shop owner I couldn't always compete with the big guys on the price of a bike, but I could give them value in the form of service, breaks on accessories, customer referrals, etc. Dealers need to make money so they can stay in business and the customer needs to feel like the dealer appreciates their business and will take care of them after the sale. If they have a "we're the only game in town so take it or leave it" approach and won't even bother to say why they won't negotiate, I'm apt to take that as an indication of how they do business in general and buy somewhere else, even if that means getting another brand. On the other hand I wouldn't expect a small shop to wheel and deal like the big guys, but instead sell me on the long term value of buying from them. I won't just blindly pay whatever the dealer asks without expecting something in return that shows the dealer values me as a customer.
My response was not meant to imply that dealers are money grubbers. But simply that the charges that people were calling bogus are indeed not bogus. Triumph charges the dealers to ship the bikes, and this is on top of the cost of the bike. Now dealers are free to discount as they see fit, but there is not as much room to wiggle on a bike as there is a car. And perhaps it might be nice to support the local guy for once.
 

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I used my guns as collateral for my bike loan. I got a great rate and they said I could probably miss a few payments without the repo man coming.
 
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