Reducing Debt Update

[creditstalker]

I brought my bike to Harley, and they are only willing to give me 13,900...and my payoff is 17,974.82; which means I will have to come out of pocket 4074.82 OUCH...Crazy,  I know!!  But I'm thinking that since I won't have to make the payments of 432.00 plus 108.00 (insurance) each month,  I can easily recoup the money loss within 6 months.   Need to eliminate that monthy debt so I can purchase a house.   

[mamatried]

Ouch! That's rough! Have you tried selling private party via Cycle Trader or eBay Motors? What is your NADA and KBB? Do you have that kind of cash to bring to the table and still have a $1K emergency fund?

[Anonymous]

Yeah...I'd look at doing a private party sale.

[creditstalker]

It's been listed on craigslist for 2 weeks,  and I haven't had any luck with it.  Many folks don't have that kind of cash laying around,  and some have hard times getting financed.  So the longer I keep the bike,  the more it depreciates and the more monthly payments I will have to make.  the 2016 bikes come out in September,  and they will be reducing the price of all 2015 models...and since I have a 2014 it would be better the quicker I get rid of it. 

I hate that I may come out of pocket that much,  but I'm just ready to put it behind me and move on.

[mamatried]

If you only went to the one H-D dealer, maybe check with another H-D dealer or two further away as well as some custom bike shops. I'm guessing at that price point it's a Softail? A custom shop might be pumped to snap it up. 

Here's another twist - - H-D restricted sales to internationals a couple of years ago so a lot of overseas guys are chomping to buy newer model years, but H-D makes it tough for them to get their hands on them. I know a guy who's legit, but I'm not sure if he's buying right now or if he'd make you a better offer. If you PM me I can send you his info. 

If your dealer is willing to do the deal and you can't find any other bids, I guess I'd take it. Most H-D dealers I know wouldn't buy back a used bike unless they're getting a bargain... and then even so they don't usually like to touch them as there's a lot more benefit to them as dealers to move new bikes. You are right, the new models will be announced in about 8 weeks so you'll want that sucker gone by the end of July, or you're going to lose quite a bit more. 

[creditstalker]

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@mamatried wrote:

If you only went to the one H-D dealer, maybe check with another H-D dealer or two further away as well as some custom bike shops. I'm guessing at that price point it's a Softail? A custom shop might be pumped to snap it up. 

Here's another twist - - H-D restricted sales to internationals a couple of years ago so a lot of overseas guys are chomping to buy newer model years, but H-D makes it tough for them to get their hands on them. I know a guy who's legit, but I'm not sure if he's buying right now or if he'd make you a better offer. If you PM me I can send you his info. 

If your dealer is willing to do the deal and you can't find any other bids, I guess I'd take it. Most H-D dealers I know wouldn't buy back a used bike unless they're getting a bargain... and then even so they don't usually like to touch them as there's a lot more benefit to them as dealers to move new bikes. You are right, the new models will be announced in about 8 weeks so you'll want that sucker gone by the end of July, or you're going to lose quite a bit more. 

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Yes, it is a 2014 Heritage Softail with only 915 miles on it.....It comes complete with Security Fob, White wall tires, pearl studded saddle bags, and Morroccan Gold color.  I will PM you my email.  Thanks!