No matter how you measure it, owning a Harley-Davidson is a big investment. In addition to routine care and bigger, unexpected repairs putting a dent in your bank account, there are other costs to account for. Even the Harley models that are dirt cheap to maintain can require a monthly payment to pay off the attached loan. Well aware that its bikes can and often do cost luxury prices, such as the classic models that are worth a small fortune, Harley-Davidson has come up with an in-house way to help its riders out. Back in 1993, Harley-Davidson launched a helpful division known as Harley-Davidson Financial Services.
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As the name suggests, this Harley branch is responsible for helping customers out with the complicated and overwhelming nature of financials. They provide financing for motorcycles and related parts and accessories, motorcycle insurance, and extended service plans to help out with potential repair costs. Its Rider-to-Rider program aids in buying and selling used Harleys privately, from securing a loan to complete the purchase to having the bike inspected before it changes hands. On top of all of that, Harley-Davidson Financial Services also offers a Visa credit card.
Harley-Davidson Financial Services is a multi-faceted branch of the brand behind some motorcycle models we all love to hate and is beneficial in more ways than one.
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Two banks are behind Harley-Davidson Financial Services’ operations
The creator and issuer of the Harley-Davidson Visa credit card is U.S. Bank National Association, which is the fifth-largest commercial bank in the United States and is a subsidiary of U.S. Bancorp. Meanwhile, an entirely separate bank is responsible for things like loans from Harley-Davidson Financial Services. Eaglemark Savings Bank operates as a subsidiary of Harley-Davidson Financial Services and has done so since 1997.
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In the Internet age, they make it easy and accessible to apply for, check the status of, and manage one’s loan or loans. Over on the Harley-Davidson Financial Services credit application page, you can do it all with only a few clicks.
If you prefer to talk to someone while making a large financial commitment, phone numbers for loans, insurance, and Visa cards are listed on the Harley-Davidson contact page.
But is this the right path for you to take to finance your next motorcycle? Here’s what those who’ve given them a shot have to say.
Do Harley-Davidson Financial Services and its banks come recommended by users?
Harley-Davidson Financial Service has been around for over three decades, and has been given a fair shot by the Harley-riding community. Naturally, over the years, folks have taken to the Internet to let others know of their experience using it.
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Over on Reddit, a now-deleted user got a few responses when asking whether one should finance with Harley-Davidson Financial Services. Most folks advised against going with it, or urged shopping around first before settling. Some customers reported salespeople trying to sell them things they don’t need, while others warned of inflated interest rates on their loans compared to those of other banks and credit unions. As of publication, Harley-Davidson has offers for 7.64% APR with $0 down and as low as 7.09% APR for those who complete the Harley-Davidson Riding Academy course.
At the same time, there are some positive aspects of Harley-Davidson Financial Services worth mentioning. Not only is it a convenient way to obtain financing, but the Rider-to-Rider program adds convenience and peace of mind to private purchases that one wouldn’t otherwise have. Redditor u/livinloudhd recalled that selling their bike was seamless and they got their money fast, while Harley-Davidson Forums member D-Red was satisfied with how quick, yet thorough, the buying process was. Those reasons alone might be enough for someone to go with it, but it’s probably best to explore other options first before making a final decision.
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It may not be perfect, but Harley-Davidson Financial Services undeniably has a lot to offer and makes it easy for new and old riders alike to navigate the financial stress around riding.