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Discussion Starter #1
For you US buyers who have already received your Scramblers, what kind of loan rates have you been getting offered from the dealer? I have excellent credit but I don't have access to a credit union as I'm not affiliated with any groups that have one and all of the large banks that I have researched do not offer loans on motorcycles. Thanks!
 

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3.99% is what they told me that the Ducati official loan servicer is able to do. But the local credit union the dealer also works with is to 2.99% here at the moment. You should be able to walk into any credit union and become affiliated. I've had car loans over the years through several (usually set up by the car dealerships when I bought the vehicle.)
 

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Discussion Starter #4
Cool, thanks guys. And as far as credit unions go, I was under the impression that you had to be a part of a certain group to join (teachers, military, worker's union, etc.) Am I wrong about that?
 

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It just depends on the credit union. The one I have a house loan through doesn't require me to have a bank account with them. Other ones I've had to keep a bank account with 5 dollars in it for some unknown reason. And others, like the professional credit union my dad is a member of require you to have worked (or work) in his line of work.

But local city credit unions are usually open to the public.
 

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I went through my local credit union. My dealer uses them and had previous loan with them. They were 2.99 no need to be a member on any group per se.
 

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2.9% with the credit union my local dealer works with. I don't have much credit history but my credit score is high so I was told I'd get that rate with the first time buyers program.
 

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Discussion Starter #8
Hmm, good to know, thanks. I'll look around LA and see what I find. Thanks!
 

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I got 2.99. Dealers can and will mark up the rates they get, so if they quote you higher and you have good credit, they may be doing that. I filled out the app a few days before I picked up the bike and told the dealership I would only finance through them if it was under 3% because I have excellent credit and knew I could get that. They emailed me back after running my credit and said 2.99% for any term up to 60 months.
 

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Discussion Starter #10
I've been looking at the credit unions around Los Angeles, and even their lowest rates for excellent credit are just under 4%, so it may just be higher in my market. I'll be interested to see what the dealer offers me.
 

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I got 5.59 thanks to my wonderful ex gf, but I only financed 5k, so th difference between 2.9 to 5.59 is only about 70 bucks a year in interest.
So, not a big worry for me.
 

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Inquired at the dealer, Wagner Motorsports International in Worcester, MA, and when I mentioned that my NY credit union was at 1.99% for 60 months he said "we're not close to that". great dealership though. Helpful, honest and open on Sundays!
 

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Inquired at the dealer, Wagner Motorsports International in Worcester, MA, and when I mentioned that my NY credit union was at 1.99% for 60 months he said "we're not close to that". great dealership though. Helpful, honest and open on Sundays!
Wow, that's a pretty amazing APR, I can't find anything close to that, even at the credit unions. A few places will list that for cars but the motorcycle loans and always at least a few points higher.
 

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Look I know everyone circumstances are different but I would not recommend using a loan for a bike. It's simply not good financial sense to borrow money for what is basically a toy. Admittedly I bought mine with my annual bonus (which I don't expect again in the oil and gas business) but the price in the US is not outrageous.

Please forgive my butting in. I'd recommend saving for it; you'll feel so much better after when you buy it without a note.
 

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Look I know everyone circumstances are different but I would not recommend using a loan for a bike. It's simply not good financial sense to borrow money for what is basically a toy. Admittedly I bought mine with my annual bonus (which I don't expect again in the oil and gas business) but the price in the US is not outrageous.

Please forgive my butting in. I'd recommend saving for it; you'll feel so much better after when you buy it without a note.
I hear you. No loan also. Good common sense, not that I have any. But yep, everyone circumstances are different. ;)

For some though, bikes are not just toys. You'll know when crawl out of the ditch and back on another bike. Their more like an ... addiction.
 

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Look I know everyone circumstances are different but I would not recommend using a loan for a bike. It's simply not good financial sense to borrow money for what is basically a toy.

Or, it's quite possible that my money earns more than the 2.99% interest rate I'm paying. Why take money from something earning a higher rate? I'll take cheap money when I can get it and leave my money in investments every time.
 
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