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SpotOnOldChap · Joined: 12 May 2007 Posts: 6

Or did you finance one? About 80% of the guys I know with Harleys used the cash out from a home refinance towards the purchase of their Harley. It seems like such a solid investment idea. Plus not many people have $20k + just sitting around to buy one. It could be one of the reasons Harley stock has done so well over the last 10 years.

linlyons · Joined: 04 Feb 2005 Posts: 8

I did. I bought a new truck and a boat too. The boat and truck will probably lose money, but I figure that the Harley will make up for it. Harleys never lose money!! Just gotta remember to squirt Armor-all on it each weekend to keep it looking pretty.

discipleabct · Joined: 17 May 2006 Posts: 6

you can write the interest off your taxes on a home loan ...but not on a vehicle loan, so it is a smart way to buy any vehicle..as long as you don't stretch the payments out past 5 years....heck i only had a 15 year loan on my houseas for my bike... i build themi have paid cash for EVERY bike and car i have ever owned

ogrendle · Joined: 07 Jun 2006 Posts: 3

Most financial experts agree that it is a bad idea to do this. Your stretching out the payments by 25 to 30 years, The additional interest your paying is OVER double what you would pay in a traditional loan. Plus you loose out on any built up home equity.In other words, NO!

PrincessA · Joined: 19 May 2006 Posts: 3

I paid cash for my first bike, but I needed to take a loan for my custom chopper. What a country when you can write off the cost of a new bike on your tax return. Ride Loud, Ride Proud...

Mayur · Joined: 24 May 2007 Posts: 3

I didn't. I bought a new Honda for less than half the price. And she cranks up every time.....

Alexis · Joined: 22 Jan 2004 Posts: 3

I just bought an Harley XL1200L sport bike. I also bought a Grady-White 33' Express 330 fishing boat around the same time. I have some money left over but I am eyeing a new 2008 Toyota Prius since my old one doesn't have anymore room for "Save Darfur" stickers! Wink

I know it sounds impulsive but it wasn't. Like you point out, I don't have that kind of money sitting around. I did my research on financing and decided to do a HELOC about 6 months ago. I talked to my mortgage guy and decide to do it since he gave me such sound advice. He showed me a graph of how much home values have gone up in the last 5 years so I felt okay about it. Since my home value has tripled since I have bought it, I have plenty of money to burn due to the pot of gold I am living in!I plan to refinance in 6 months anyway since my 5 year ARM is coming due so I should be fine.That bike is a sweet ride!

Legend5949 · Joined: 30 Nov 2003 Posts: 4

I refi'd my house and used the money for penile reduction surgery. My regular insurance wouldn't cover it.

3ifbyair · Joined: 10 Mar 2005 Posts: 5

I wrote a check for mine. Isn't that the way you're supposed to do it? Why would you need to refinance you house to buy a motorcycle? I did't know people did that sort of thing. It doesn't make any sence to me. A bike is like a toy, if you can't buy one straight out you should save up til you can.

Nicki · Joined: 12 May 2005 Posts: 7

No. I didn't have to. I might have had I bought a Gold Wing.

Victoria78 · Joined: 20 Jul 2006 Posts: 4

Huh?!? A motorcycle as an investment? Not that urban legend again. Harley's depreciate just like every other bike - only slightly slower. According to MCN, they are going down at 8-9% a year. Just look at the classified ads in your local paper - they a FULL of people trying to sell the things these days. It is a buyers market.

CHARITYG · Joined: 05 Jul 2002 Posts: 9

bought a Honda 1100 Spirit and it looks exactly like a certain harley..... But its more comfortable to ride on long trips (Wis to Sturgis) and sure enough it didnt break down once.

CraigT · Joined: 04 Jul 2004 Posts: 6

nope, actually I tried to sell the 1st born... but they told me I'd have to pay them for them to take her off my hands....

MaryB1534 · Joined: 11 May 2003 Posts: 8

I paid $4K cash for a very nice low mileage Honda VFR Interceptor that has twice the horsepower of the biggest bestest Harley and is a very sweet ride. So long....... SUCKERS!!!

everythingnickjonas · Joined: 11 Dec 2003 Posts: 5

Honda riders sound like the little punks that got beat up in high school trying to make up for their freaking smashed egos .... and the Honda's do NOT cost less than a Harley ......the VTX 1800 starts at 12900 but handles like an 883 Sportster that I got for $6700.00 ...... you are the suckers ..... on wanna be Harley's ...... going to Harley Rallies ..... what a bunch of retards !!!!No way would I refi my home to buy a toy ...... but I am smart enough not to spend twice the price on a bike when I outrun everything on the rode everyday ........ breathe my exhaust on your crappy overpriced Honda's .......