Finance problems

[jfoster]

I tried to make a large payment {30000} on my 2016 triglide today and had a bad time. First i tried to pay online and it would not take a payment that large but it gav..e me a number. After being on hold for several minute a worker came on and said she could not take a payment over 2500 and it woud be $12.50 per payment. so it would be 12 payments of $2500 at $12.50 per payment. i asked to speak to a superviser and after another long hold she said she could only take a payment of $25000 and it would be a charge of $12.50 for each so it would be $25. i told her i had been riding Harleys since i was 20 and i was 63 now. i asked if harley did not have a way to just go to dealer and pay she said ne and that was the rule. i said maybe i needed to check on the Indians they might want $30000 dollars, well she hung up on me. I asked to talk to Willy G but no. i waited for her to call back but noway. I love my Triglide but hate the bank

[Peter A.]

WHAT A SHAME - it seems like your story is a sign of
the times - WHAT have we done to our society?
Guess the Government likes to see Joe Average STAY
in debt!

[1dn5up]

There is one thing that realy frosts my balls, paying any kind of interest. The c/card co. Hates me, bought a car and paid it in full, the dealer did not know how to handle it, No Credit No Problem. Rather be naturaly poor than owe others. Not braggin just telling it the way it is

[clint44]

I tried to make a large payment {30000} on my 2016 triglide today and had a bad time. First i tried to pay online and it would not take a payment that large but it gave me a number. After being on hold for several minutes a worker came on and said she could not take a payment over 2500 and it would be $12.50 per payment. so it would be 12 payments of $2500 at $12.50 per payment. i asked to speak to a superviser and after another long hold she said she could only take a payment of $25000 and it would be a charge of $12.50 for each so it would be $25. i told her i had been riding Harleys since i was 20 and i was 63 now. i asked if harley did not have a way to just go to dealer and pay she said no and that was the rule. i said maybe i needed to check on the Indians they might want $30000 dollars, well she hung up on me. I asked to talk to Willy G but no. i waited for her to call back but noway. I love my Triglide but hate the bank

Were those restrictions in your original sales contract? Is your loan through Harley Motor Credit?

[rhino 2]

Some loans do have a pre-payment penalty...

[clint44]

Some loans do have a pre-payment penalty...

Especially loans from Harley Credit.

[MikeyTX]

Are you financed through EagleMark ?

[consitter]

Just a suggestion...

For the next 3 months send them a cashier's check BY MAIL for $9,999.99. This gets around two problems....

1) They can't charge you a fee for the checks you sent for payment.

2) It keeps the feds out of it. Any check $10K or more is considered a 'large item', and they investigate it, which will hold up you paying it off a few days.


Wow, do I wish I had your problem...

[jfoster]

The loan was with Harley i told dealer that i could pay cash in about 6 weeks Land sale. he suggested Harley Financial so we could pay off loan in a year and have a good Harley credit. We told them the plan of making a large payment in a couple months and was told there was no early payment penalty. Oh well

[clint44]

The loan was with Harley i told dealer that i could pay cash in about 6 weeks Land sale. he suggested Harley Financial so we could pay off loan in a year and have a good Harley credit. We told them the plan of making a large payment in a couple months and was told there was no early payment penalty. Oh well

I would almost bet that if you go back and read the fine print on the sales contract you signed,there will be a note warning of No Early Payoff w/o penalty. If so,I would have a chat with your dealer about deceptive sales practices.

[Beauregard]

Well Clint, most salespeople will say anything to close the deal that day. I know that I have come to expect deceptive sales tactics everytime I buy.Most times I just smile when the BS starts flowing, but sometimes it's just too outrageous to not call them on it. (i.e. "Harley's don't depreciate! You can sell this in two years for more than you're paying for it today!"). The sales manager and dealer manager both know this goes on, and complaints will bring about a brief insincere apology.

[Gorilla]

My Tri is financed through HD Financial Services. Over the last year I made a $2000 a month extra payment on line on my loan 10 times. I just went through all my statements to verify I was never charged a service fee other than a $3 processing fee for using the credit card to make the payment. If I had used my checking account to make the payment there would not have been any processing fee. There was NO early payment fees etc. They must have several different type contracts.

[rhino 2]

Well Clint, most salespeople will say anything to close the deal that day. I know that I have come to expect deceptive sales tactics everytime I buy.Most times I just smile when the BS starts flowing, but sometimes it's just too outrageous to not call them on it. (i.e. "Harley's don't depreciate! You can sell this in two years for more than you're paying for it today!"). The sales manager and dealer manager both know this goes on, and complaints will bring about a brief insincere apology.

Most [Not all] Salespeople will tell the customer what they the customer would like to hear,. So its up to the customer to make sure that what they are hearing is fact...
i.e.; Get it in writing..

[MikeyTX]

As mentioned, mail the payment. The issue is not Harley Davidson Credit. The issue is the amount you are trying to electronically to pay on line. Having your financial institution make a direct bank to bank transfer is the other option. You are running afoul of the laws designed to stop money laundering.

[rhino 2]

As mentioned, mail the payment. The issue is not Harley Davidson Credit. The issue is the amount you are trying to electronically to pay on line. Having your financial institution make a direct bank to bank transfer is the other option. You are running afoul of the laws designed to stop money laundering.

Its not illegal to send payments over 10 grand.... The receiver/sender of the funds just have to fill out form #8300...
The reason the finance companies charge a fee, Is they make money on the interest over the life of the loan, Not when someone pays it off short term...

[MikeyTX]

lol I didn't say it was illegal ........ I do it all the time. The simple fact is that Eagle Mark Bank, H-D's captive finance group simply isn't equipped or, unable to handle large funds transfers by phone or, over the web for one reason or another. As you suggested early on, the o/p simply needs to post a check to them and quit pissing around with this. They do have a physical address. By now it could have been done by FedEX

[consitter]

Its not illegal to send payments over 10 grand.... The receiver/sender of the funds just have to fill out form #8300...
The reason the finance companies charge a fee, Is they make money on the interest over the life of the loan, Not when someone pays it off short term...

Nope, not illegal at all. Just will always be tagged as a 'large item' by banks, and referred to the feds for a short investigation. Usually holds up things about a day or two. How do I know this? My mom retired from a local bank, and she was the person that handled 'large items' on an every day basis.

[jimgpayne]

There's no deceptive practice here.

And no one at Eaglemark said anything about a penalty. They simply said he would have to do two transactions: one for $25K and one for the balance. The resulting $25 fee is normal for these kind of transactions.

The check solution is the easiest one. No fees involved and quickest resolution.

[Fredward]

NEVER finance with a dealer. The ain't no such thing as "good Harley credit." There's good credit and bad credit, based on FICO score usually. I went to my credit union, 2.45 percent financing with "credit life" thrown in, no prepayment penalty. If you got 30k for payoff you surely have 50 bucks for a paralegal to review any contract you sign before you sign it.