Why should I finance my purchase through Harley-Davidson of Chilliwack?

There are several good reasons to consider financing your new motorcycle purchase rather than paying cash. First, most people don't have those funds sitting in a chequing account; they are usually invested in a savings account or interest-bearing investment. There may be fees to withdraw money from such investments, in addition to the lost interest revenue. Second, monies used to pay for a motorcycle are no longer available for household emergencies like roof or hot water tank repairs, renovations or auto repairs - which means such expenses go on a credit card with an 18 to 24% interest rate. Most important, there are better ways to invest your savings to get a larger interest rate savings. Ask Erika to see what that lump-sum cash payment would do for your mortgage; you will be surprised!

I have a Line of Credit through my own financial institution, why shouldn't I use that to buy my next bike?

It is possible that using your Line of Credit may be the smartest way to purchase your new Harely-Davidson® motorcycle. First you should know the answers to these questions: are you required to make a minimum payment each month (usually 3% of the balance which on a $25,000 loan is $750 each month), is the interest rate floating or fixed (a floating rate goes up as the Prime Rate increases, meaning higher interest payments in addition to the minimum monthly payment while a fixed rate is consistent throughout the loan term), and can the bank force you to pay off the loan on demand?

What's your interest rate?

We write deals anywhere from 8.49% to 22.25%. It really depends on you and your situation. Taking a moment to sit with Erika and complete a credit application will help determine what we can do for you; there is no cost or obligation involved.

Can't I get a better interest rate at the bank?

Interest is important to consider. But really, it's only one of several components in the whole financing transaction. You should also consider the term of the loan (most financial institiutions limit it to 60 months; Harley-Davidson finances up to 84 months), down payment (financial institutions may need up to 50% down; Harley-Davidson usually requires only 10% of the purchase price as down payment), the financing amount (large financial institutions will finance the motorcycle purchase only; Harley-Davidson can include 'extras' such as parts and accessories for the bike, helmet/boots/jacket and the Harley-Davidson Extended Service Plan) and finally, monthly payment amount.