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Discussion Starter #1
Hi Everyone,

I have an account with Bank of America. Unfortunately, they do not offer motorcycle loans at the moment.

I already found the bike. Now, I can't seem to find bank(s) offering motorcycle loans online :(

Does anyone know a good online source/bank? Please help.

Thank you,
Phillip
 

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Hi Everyone,

I have an account with Bank of America. Unfortunately, they do not offer motorcycle loans at the moment.

I already found the bike. Now, I can't seem to find bank(s) offering motorcycle loans online :(

Does anyone know a good online source/bank? Please help.

Thank you,
Phillip

Citi Financial maybe?
 

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Discussion Starter #4
I forgot all about CapitalOne. If not, I will try Citi Financial or Local Credit Union in NYC. Does anyone know any in NY?

I appreciate your feedback.

Thank you,
Phillip
 

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Credit union.

Try to see if you can join penfed.org.

I just got 6.49 for my used 04 ST4S.
 

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+1 on the credit unions. i've seen low rates comparable to their auto loans from the CUDL network. even if that's not the case at your CU typically the rates are still far more competitive than other sources if they're motorcycle friendly
 

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BoA is very risk intolerant compared to say, Citi if you get a credit card from them:)

Hi Everyone,

I have an account with Bank of America. Unfortunately, they do not offer motorcycle loans at the moment.

I already found the bike. Now, I can't seem to find bank(s) offering motorcycle loans online :(

Does anyone know a good online source/bank? Please help.

Thank you,
Phillip
 

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Discussion Starter #11
I forgot to tell you all that am getting a used 1098S. I will check the banks that you all mentioned.

Thanks again!
 

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do you own a house and have equity? if so, get a home equity line of credit. it requires you to have the diligence to pay it off under *your desired timeline* (i.e. 3/4/5 years or whatever, instead of the life of the heloc), but the interest you pay will likely be MUCH lower than a loan AND THE INTEREST IS TAX DEDUCTIBLE.
 

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If you get a loan through the dealership, try to dicker with them over the percent interest. Many lenders who work with dealers will give the dealer a kickback if the dealer can write a loan for a higher interest rate.
 

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If you get a loan through the dealership, try to dicker with them over the percent interest. Many lenders who work with dealers will give the dealer a kickback if the dealer can write a loan for a higher interest rate.
Wow, now THAT should be totally ILLEGAL! Rate should be dictated by FICO scoring/risk, not how much the stealership wants to line their pockets! I would sue a dealer at the drop of a hat if I found out that happened to me!
 

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Wow, now THAT should be totally ILLEGAL! Rate should be dictated by FICO scoring/risk, not how much the stealership wants to line their pockets! I would sue a dealer at the drop of a hat if I found out that happened to me!
Dude, all dealerships do that, they get a certain percentage of the loan for selling the loan. Wake up and smell the coffee.
 

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Wow, now THAT should be totally ILLEGAL! Rate should be dictated by FICO scoring/risk, not how much the stealership wants to line their pockets! I would sue a dealer at the drop of a hat if I found out that happened to me!
I hate to tell you this but if you have ever purchased a new car and financed through the dealer's sources (GMAC for example, they all have their financing arms) you have played that game. It's part of the dealers profit stratagy, they get it through the trade-in, the vehicle mark-up and the financing in some combination. If you play hard core on the trade-in price they get you on the other two and vice versa. That's why it is almost always better to control the deal by eliminating as many variables as possible, sell your trade-in privately and arrange your own financing, then you will know what you truely paid for the bike. The only way around that is if the dealer is advertising an excellent ARP and you have a credit score that you know ahead of time won't allow them to jack the rate.

Not meaning to hijack the thread, I would agree with others here as far as the CU goes, they are usually your best bet when it comes to used vehicles.
 

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I totally get that dealers get kick back for hooking up the finanacing, but dicking with your in the interest rate is just bad business practice and in my view totally immoral.

Why aren't they required to make you sign a legal disclaimer showing what the bank of charging in interest and then showing what the dealer is adding on top?! They don't seperate the two, that's what is deceptive and wrong.
 

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Standard Operating Procedure.

On the other hand, my credit union, Service Employees of San Luis Obispo County (SESLOC), has so far said, "How much do you want to borrow?" I like those guys. SUV, Truck, a couple of motorcycles, all with a great interest rate and no dealer back door deals (not in my back door, anyway). They even called out of the blue one day and asked if I wanted to refi my truck to a lower rate, lower payment, same payoff date. I thought that was tits, and we all know that tits are good.
 
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