You have found your dream bike, or maybe your next daily commuter. Regardless, it fits the bill and you want it. What's next? Buying it!
Purchasing the motorcycle will vary depending on a couple of factors. The biggest one being is it new or used? Most people don't purchase new motorcycles in cash, while plenty purchased used ones with the ole' greenback.
If it is new, you are probably looking at financing and you have a general idea of what it is going to cost. Don't forget about all the little fees which tend to add up (i.e. - sales tax, tag and title, dealer fees, etc.). Also, if you are purchasing from a dealer, be sure to go by the service department and get a service quote for the first 1000-mile service. It is often a doozy and quite expensive, so be sure to factor this into your budget. Other than that, you just need to look at your financing options, which we will get to in a minute.
If it is used, you need to consider the bike's value, maintenance (or getting it road-worthy) costs, and tag and title costs are going to be. While you may be getting a great deal on the bike itself, it may need a 10,000-mile service (like my Road Glide) or tires; these are costs which quickly add up. I paid $5,500 for my road glide and ended up spending another $1,000 in servicing and titling and tag fees. While not everyone considers these factors when purchasing a motorcycle, fitting them into your budget can reduce the stress of getting your first, or latest, Harley.
Either way, you have found a Harley that meets all of your wants, needs, and desires, and you have a good idea on what you are going to be spending on it. Well if you aren't paying in cash (this isn't a finance site and I am not going to get into the pros and cons of cash vs. financing), then you need to look at financing options.
The purpose of this page is to provide veterans and military members a list of banks, credit, unions, and financing options that are either veteran-friendly, or offer fantastic financing rates. I will continuously be updating this page to ensure I am providing the latest and greatest financing information. If you know of a local institution, or a national one, that offers great loan rates, send me an e-mail at email@example.com and I will add it to the list.
If you are purchasing from a dealer, you have a couple of options. For Active Duty military, most Harley dealer's offer a Stateside Military Financing Program. This program allows Active Duty members to purchase a Harley with no down payment. And, depending on your credit, you can add in parts, gear, and accessories into the loan. Even if you plan on financing with HD, go in with a preapproval from another lending institution. I have had good luck with dealers beating previous loan rates if I show them a preapproval. It may only be .5%, but that’s still a win!
While this is a list of companies that regularly work with veterans, don't forget to check your local credit unions, as they usually offer competitive rates. I have seen some as low 2.50% APR.
Only you know your finances. This page isn't here to provide financial advice. Purchase responsibly and know your financial limits.
With that said, here are the latest and greatest motorcycle financing deals for veterans. FYI, most of these institutions require you to verify either your military or veteran status. You will need some form of military ID or a DD214 to join.
Air Force Federal Credit Union- Rates as low as 4.50 - 5.50 % for 36 to 60 months.
Elevations Credit Union- For 2017-2019 Harleys, rates as low as 4.49%. For 2016-older Harleys, rates as low as 4.99%. While not military specific, if you are military or work for the Federal government you qualify to join. This credit union offers great loan rates on Harley-Davidsons, as they categorize them with auto loans.
Navy Federal Credit Union- Rates for new Harleys as low as 7.25%. For used bikes, their rate jumps a little to 8.09%. This is for a 36-month loan.
Pentagon Federal Credit Union- Rates as low as 6.49% up to 60 months for new and used motorcycles.
Security Service Federal Credit Union- Rates as low as 4.00% for new and 4.75% for used.
USAA Federal Credit Union- Rates as low as 5.99%. With that said, I have decent credit and I always find USAA's rates to be 2-3% higher than their "rates as low as" offer.
**V-Twins for Veterans has no affiliation with any of the listed companies, nor do they speak on behalf of them.**
**V-Twins for Veterans is not providing legal financial advice and maintains no liability regarding financial decisions – no matter what you tell your wife.**
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