[Aditya]

Mod Note: Please continue the discussion on the Harley 750 Official Review Thread. Thanks!


American motorcycle manufacturer, Harley-Davidson has announced a finance scheme for the Street 750.
Under this scheme, customers who complete their booking of the Street 750, will have the processing fees waived on the entire loan amount if the loan has been originated by HDFC Bank or ICICI Bank.
Customers, who qualify, can purchase the Street 750 for a minimum down payment of Rs. 91,471. The balance amount can be paid in EMIs of Rs. 8,309 over a period of five years.
The Harley-Davidson Street 750 is priced at Rs. 4.10 lakh (ex-showroom, Delhi). Bookings for the bike will be accepted from March 1, 2014.
A finance scheme for purchase of accessories has also been announced.

Link to Team-BHP News Article

[classact]

Looks good. Good to see our country finally catching up on high end motorcycles. Of late I could see so many Royal Enfields in my office and all over Bangalore. Still planning to buy RE or HD (waiting for price drop)

[Urban_Nomad]

Haaah ..... Bigggg Whoop!!!!

Finance works out at around 14.9% pa. Anyone with a half decent credit worthiness can get a personal loan at 14.5% anyday (this is without any haggling. Bank - HDFC).

Processing fee? Be it ANY bank; just keep a straight face and say "nahi deta; dont want your loan" and watch the processing fee charges getting waived off before you can say potato potato.

I do not see the point of this "special scheme"

[akshay4587]

Originally Posted by Urban_Nomad

Haaah ..... Bigggg Whoop!!!!

Finance works out at around 14.9% pa. Anyone with a half decent credit worthiness can get a personal loan at 14.5% anyday (this is without any haggling. Bank - HDFC).

Processing fee? Be it ANY bank; just keep a straight face and say "nahi deta; dont want your loan" and watch the processing fee charges getting waived off before you can say potato potato.

I do not see the point of this "special scheme"

I agree ;you end up paying almost 150% in the end

[tharian]

Still waiting for the on road price Bangalore to make a decision.

[msvg]

Also can you please share the ICICI finance guys number from bangalore so that i can go ahead and ask him wheather i am eligible for Loan for HD Superlow/Iron 883.
I had tried this around 6-8 months back but it didnt work ,hope they have changed the policies for more sales as my booking is still there with Tusker Harley,BLR.

[Shubz]

Originally Posted by tharian

Still waiting for the on road price Bangalore to make a decision.

On Road Price in Bangalore is 4,99K

Originally Posted by msvg

Also can you please share the ICICI finance guys number from bangalore so that i can go ahead and ask him wheather i am eligible for Loan for HD Superlow/Iron 883.
I had tried this around 6-8 months back but it didnt work ,hope they have changed the policies for more sales as my booking is still there with Tusker Harley,BLR.

ICICI has been pathetic in this. even being a "Privilege Banking Customer", they treat you like garbage.

Try HDFC Lokesh +919964528529. An efficient fellow.

[pramodkumar]

Originally Posted by akshay4587

I agree ;you end up paying almost 150% in the end

over a period of 5 years right, remember what you can do with the money now? 150% in 5 years in not too much.

The offer is great, i hope they come with a even better offer like the VW guys. buy now pay after 5 years

Pramod

[alpha1]

Originally Posted by Aditya

Customers, who qualify, can purchase the Street 750 for a minimum down payment of Rs. 91,471. The balance amount can be paid in EMIs of Rs. 8,309 over a period of five years.
The Harley-Davidson Street 750 is priced at Rs. 4.10 lakh (ex-showroom, Delhi). Bookings for the bike will be accepted from March 1, 2014.
A finance scheme for purchase of accessories has also been announced.

Originally Posted by Urban_Nomad

Haaah ..... Bigggg Whoop!!!!

Finance works out at around 14.9% pa. Anyone with a half decent credit worthiness can get a personal loan at 14.5% anyday (this is without any haggling. Bank - HDFC).

Unless I am mistaken in my calculations (rather, the excel program)
On road price assumed 5 lacs
Down payment 1 lac
Remaining = 4 lac

This 4 lac payment is recovered in 60 months by paying Rs 8309.
INTEREST RATE charged comes to 0.75% per month.
Which translates to 9.4% per annum.

Which is a PRETTY good deal.
(these days all bank websites have EMI calculator - doubled checked with those)
http://emicalculator.net/
https://www.sbi.co.in/user.htm?actio...=0&id=0,17,389


I can't fathom how you got 14.9%

[Urban_Nomad]

Originally Posted by alpha1

Remaining = 4 lac

This 4 lac payment is recovered in 60 months by paying Rs 8309.
INTEREST RATE charged comes to 0.75% per month.
Which translates to 9.4% per annum.

Which is a PRETTY good deal.

I can't fathom how you got 14.9%

Let me try.

Ex showroom - 4.1 lac
On road Delhi should be around the 4.5 mark

Down payment - 1 Lac
Remainder - 3.5 lac

The difference between your (4 lac) and my (3.5 lac) calculation is between the "assumed" balance remaining post down payment; for which the EMI is 8300 odd.

Please remember the golden statement used by ALL financial institutions bud........ conditions apply.

And apply they will!

[Urban_Nomad]

Originally Posted by pramodkumar

over a period of 5 years right, remember what you can do with the money now? 150% in 5 years in not too much.

The offer is great, i hope they come with a even better offer like the VW guys. buy now pay after 5 years

Pramod

Slightly off topic; but will make for interesting read for sure - http://www.team-bhp.com/advice/your-...rade-or-swap-0

An excerpt from the article:

"What we have not calculated yet is the opportunity cost of the Rs. 20,000 per month that you are blowing away toward the new car’s EMI. If you don’t upgrade, that money can instead be invested. Even if reasonably invested, the saved Rs. 20,000 per month will become a whopping 15 lakh rupees at the end of 2013!

Net net, retaining your current 5 year old sedan (over a 12.5 lakh sedan upgrade) will make you richer by 22.5 lakh rupees over the next 5 years! That’s an earning of Rs. 4,50,000 per year. OR Rs. 37,500 a month.

Shocked?"

The numbers are obviously with respect to some assumptions about a car upgrade; but the logic is not too far from what Akshay is talking about.

[alpha1]

Originally Posted by Urban_Nomad

Let me try.

Ex showroom - 4.1 lac
On road Delhi should be around the 4.5 mark

Down payment - 1 Lac
Remainder - 3.5 lac

The difference between your (4 lac) and my (3.5 lac) calculation is between the "assumed" balance remaining post down payment; for which the EMI is 8300 odd.

Please remember the golden statement used by ALL financial institutions bud........ conditions apply.

And apply they will!

So do we have the concrete on-road prices with us?
Makes a huge difference!

[Urban_Nomad]

Originally Posted by alpha1

So do we have the concrete on-road prices with us?
Makes a huge difference!

You know what; I just had another very scary thought.

Some background 1st - I am considering purchasing a Duke 390. Spoke with my HDFC guy for 2 wheeler loan as well as a personal loan (just to see if loan would be a better deal than a lumpsum payment by me; & the lumpsum being invested elsewhere).

2 wheeler loan % for Duke 390 - 19.5% PA (reducing)

Personal loan - 14.25% (reducing - still being negotiated)

I dont think (& I could be wrong here) any bank gives a loan to finance the RTO and sundry charges. If this is true:

- Ex showroom : 410,000
- less Down Payment : 92,000 odd
- Remainder : 318,000 ish

EMI at an interest rate of 19.5% for 60 months - Rs 8300 + change



The whole premise behind this thought is that HD have given the EMI amount; right till the last rupee. They are obviously aware that Registration and other sundry charges differ from state to state. How can they make a blanket statement saying pay xx fixed amount and we take care of the rest?

I hope I am wrong. If true; I hope no one "avails" this "special scheme" to make there Harley dreams come true; only to be turned into a financial nightmare.

[Fullrevs]

Guys I am sorry if this is off-topic but are there are finance options for all HD bikes? Say for a Fat Bob?

[Arvindaksh]

Originally Posted by Fullrevs

Guys I am sorry if this is off-topic but are there are finance options for all HD bikes? Say for a Fat Bob?

Yes,

I have downloaded the form for initial booking of Street 750... Which I'm now contemplating. Here are the Breakdowns for Mumbai

Vehicle Pricing - Street 750
Mumbai Navi Mumbai w/o Octroi
Ex-Showroom Price (INR) : 430,731 428,450 410,000
Insurance : 13,800 13,100 13,100
Registration / RTO tax : 47,651 46,200 49,200
Total On-Road Price : 492,182 487,750 472,300
Advance paid : 30,000 30,000 30,000
Balance payable : 462,182 457,750 442,300


Theses are the list of Bikes of Harley-Davidson with Minimum Down Payment figures.

Booking:
9.Only the following Harley-Davidson motorcycles available in India are available for booking, the respective booking amounts are as mentioned below:

Street 750 INR 30,000
XL 883L SuperLow INR 50,000
XL 883N Iron INR 50,000
XL 1200X Forty-Eight INR 50,000
FXDB Street Bob INR 100,000
FXDC Super Glide Custom INR 100,000
FXDF Fat Bob INR 100,000
FLSTF Fat Boy INR 100,000
FLSTF Fat Boy Special INR 100,000
FLSTC Heritage Softail Classic INR 100,000
VRSCDX Night Rod Special INR 100,000
FLHX Street Glide INR 100,000

I hope It's of some use.