How to Finance a Harley Davidson

The Harley Davidson was first built in 1903, powered by a 1-cylinder combustion engine. It was initially built for racing. Today, many of the Harley Davidsons have engines of 850cc or more, but they are more commonly used for street riding. Considered a luxury motorcycle because of the familiar name, slick appearance and innovative engine technology, financing a Harley Davidson is often compared to purchasing a luxury car, but owning one is so much cooler.

Step 1

Obtain a copy of your credit report. Check your credit report to make sure there are no credit issues or discrepancies that could prevent you from getting a loan for a Harley Davidson. If you discover there are errors or debts that were paid off on your credit report, have these items corrected before you apply for a loan.

Step 2

Talk to your loan officer to find out if you can qualify for a loan. Prepare to supply him with information about your current income as well as the amount of any debts that you have.

Step 3

Ask what kind of interest you will pay and whether the loan rate is fixed or variable. Ask the loan officer how long the loan is for and whether there are any administrative fees or early payment penalties you should know about.

Step 4

Prorate the amount of insurance and the tag registration for your Harley Davidson and add the amount to your monthly loan payment. This will allow you to know how much money the motorcycle will cost you each month.

Step 5

Shop for your Harley Davidson. Beware of special financing deals offered by the dealership. Although the deal may initially sound better than the original loan you set up at the bank, you may discover that once the promotional rate is over, the amount you repay on the loan is significantly higher.