Harley Davidson Credit Issues

Harley Davidson released its 1st quarter earnings recently, and one thing that came out of it was how the motor company had a substantial loss due to credit losses. They had an increase with their loans defaulting, and Harley was unable to collect due to the problems with the Repo Man. Join me as a ride my Harley Davidson Street Glide Special through the beautiful roads of Tennessee as I talk about the interesting issue with repossessions and how Harley is trying to figure out how to handle.
00:00 Harley Financials and the Repo Man
01:50 Loan Defaults
04:56 Reasons Harley is Losing Money with Repossessions
07:51 Harley Solutions to Repo Problem
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#harleydavidson #broncoride #harley #repoman #repossessions #earnings #harleyfinancial
#loans #defaults #harleydavidsonbike #finacial #rates

[@SophisticatedBob]

As a young man, I repo'd loan collateral for a finance company. Cars, storage buildings, motorcycles, whatever. Was paid 500 dollars per acquisition. Was asked to repo a Harley in Abbeville, South Carolina. Went to the house, and it was full of bikers, wearing leather and colors. Terrifying. I politely told the guy I was there to repo the bike...and he said "Yeah, they called and said you were coming. Have you ever ridden a Harley?" I said "Yes Sir, I've ridden many." And he said, "Take care of this thing, I'll be there on Friday to pay it off." And when I got the bike back to the firm, I told the Manager "If you harm this bike, it will be one of the last things you'll do."

[@NickAllen-be5gc]

How did you get into that type of position?

[@SophisticatedBob]

@@jeffreybailey175 I'd be ticked off too my friend. The biker that gave me the key to his Harley actually turned it around in the yard for me. He ended up being a nice guy, but had he said "no, you can't have it" I would have thanked him for his time, and got in the car. To this day, having that porch full of bada** dudes watch me roll out of that yard is the scariest thing I've ever done. I knew that bike had to be perfect when he came to get it.

[@SophisticatedBob]

@@NickAllen-be5gc I was an assistant manager for a bank that owned a "finance company". One day they asked if I would fly to Atlanta, and drive a repo'd car back to North Carolina. So I did it. Then they called and said "would you do this..." etc. And the money was good, so I started doing it in my free time, weekends, nights, etc. Wasn't a big deal most of the time. Frequently took a buddy, we'd pick up whatever they repo'd, and then we'd go have a beer, or two.

[@Broncoride]

That was a great story Bob.

[@brianrahuba6919]

​@SophisticatedBob Well, you should be honorable when picking up someone loaned property if in the event they do claim their vehicle back . You were not paid to hurt the product just to recover it so the lean holder or the person who gonna recover the product . If repo people beat on these vehicles there should be a law now the repo people pay for those damages...

[@SaddleTrampTV]

The benefit (to me at least) to having older vehicles is that everything is paid for. I wouldn't mind taking home a new motorcycle, but the contentment of having no debt with interest far outweighs my desire for a new ride.

[@Broncoride]

I love that I don’t have payments. Thinking about putting more money into the Tundra vs new. I’ll end up saving serious money by doing that.

[@wjb111]

Agree 100%

[@thomasreyes2857]

That's exactly what I say I have a 2016 Softail no payments I'm going to keep it and ride it too it doesn't run no more.

[@johnharris7353]

Same!

[@VN9001]

I feel the same way. I have 307,000 miles on my 2001 Tacoma PreRunner and its been dead reliable. I have had to replace worn out components (starter motor @ 200k, injectors @ 300k) but I don't have payments. Like you, I started shopping around for new and nearly fell over seeing the prices. I'll just keep it on the road as long as I can now, it owes me nothing. I just don't want the monthly payments on a new vehicle. My 2019 Sport Glide is paid for and I'm thinking it will be my last bike at these outrageous Harley prices!

[@slyguyaction]

It’s crazy how far prices have risen. What makes it even wilder is the interest rates, even for those of us with excellent credit. I don’t want a payment anywhere near what people are paying these days. Great video Colin. Thank you

[@Broncoride]

Oh I know. I can’t imagine what the rates would be for folks with bad credit.

[@kman-mi7su]

That's because people are foolish enough to pay what they're asking. The way it stops is to stop buying HD bikes. They aren't the only manufacturer out there who makes bikes and they aren't the best or most reliable builder for a fact. Speak with your wallet and things will change.

[@OZARKSHDRIDERS]

I definitely wouldn't want to be a repo man... My brother was a repo man and man there's a lot of crazy stories... Great share brother👊🏽😎

[@Broncoride]

I bet the stories are amazing.

[@Fady117]

Great video man, and I agree. Harley-Davidson and the majority of its dealerships worldwide scam the common man out of his pocket. It used to be the people's cruiser, nowadays it's a luxury brand aimed for those who aren't worried about how much they're spending. HD will sell fewer units at much higher prices, and while they do indeed meet the sales target of their new business model, they lose at everything else. They've been in this business model for the last decade. Part of me thinks they've been wanting to disassociate from the "biker" culture and just want to be seen as a prestige, a luxury, and forever selling you ideals, dreams, and experiences, instead of an actual, tangible service tied to the power of ownership of the physical product itself. And by the time you're the full owner of the new motorcycle, you'd have shelled out an exorbitant amount, not counting what you spend on upgrades, gear, and servicing intervals, and new models would be out already, enticing you to stay in that hamster wheel that's only really beneficial to them and no one else.

[@Broncoride]

It’s definitely now targeted as a premium motorcycle. They’ve slowly gone away from the culture from several decades ago. We shall see how it all turns out.

[@northbysoutheast5439]

Few more payments and my Harley will be paid off and all mine. 👍

[@Broncoride]

Hell yes. Celebration time.

[@jeffshultz3883]

That's a good feeling! Now don't let the new bike bug bite you.

[@raylocke282]

When they tried to repo my Harley.I had removed the engine ,transmission and left the rest of the bike outside the garage.They didnt big me for six months.

[@Broncoride]

Bet they were surprised.

[@Clearsyde]

Bought a new Harley in 2021. Got a 72 month loan for the bike through Harley paid it off in 17 months after I got a pay raise. Never again will I finance a motorcycle. I’ll save up and buy off marketplace. I just got my free and clear title yesterday.

[@Broncoride]

Congrats Chris on being free and clear. Time to celebrate.

[@BoDean52]

So my new KZbin channel idea on motorcycle repo with you is a no go? Great seeing you out my friend. Also, you will have that truck in 2027

[@Broncoride]

Bob and Colin’s Repo. I like the sound of that. Lol

[@Kingdlack]

Interest rates are definitely ridiculous. There was a time when you had excellent credit that you received a low interest rate. Nowadays, it’s like excellent credit doesn’t matter. I don’t get it🤦🏾‍♂️

[@Broncoride]

I have good credit and it made a little difference, but not like it used too.

[@scottberry5266]

Remember when they announced that the good risk people are going to carry the rest???? This was only a few months ago.

[@josephmaurice8863]

Interesting topic. My name is Joseph, off topic question been trying to find your side mirrors. Can't seem to find them did yours come along with your bike or did you buy them after you've got the bike and if you did where to get him I'm from your area Sevierville to Gatlinburg area give me Yelp

[@Broncoride]

Hey Joseph. I got them from Harley. They are called Split Vision. I believe I just ordered at my dealer when I was in Maryland. They are awesome. Always looking to ride with people, so email me if interested. [e-mail]

[@RoadReality]

Man, with prices going up on EVERYTHING, and interest rates skyrocketing, we're keeping ALL of our vehicles as long as possible, unless we can pay cash. It's bonkers. I've had several payments of $800-900/month ... not doing THAT again, either.

[@Broncoride]

I agree. I’m keeping mine until the engine blows. Cash is king my friend.

[@RoadReality]

@@Broncoride DO NOT SAY THINGS LIKE THAT! I once told a friend I was keeping a car until the wheels fell off. Literally one week later, I slid off the road and totaled that car. Ever seen a Mustang like 5 feet off the ground, almost vertical? Yeah, it was like that.

[@Broncoride]

Not literally. lol

[@RoadReality]

@@Broncoride Yes, literally. Shame, too. I liked that car. Can't risk jinxing it :D

[@thelastrebelshow1627]

Been a Harley guy for 35+ years and I own two but I gotta say the glitters rubbed off, prices are through the roof and the bikes aren’t much better.

[@scottberry5266]

Here’s the funny thing, the new bikes are through the roof and the used bikes are in the gutter. I said in the 90’s when you had to get on the list to get one that one day everyone who wants one will have one and the next fad will come along and the ride will be over. Well…. I think that day has come.

[@thelastrebelshow1627]

@@scottberry5266 Agreed Brother. 🤘

[@TobyNorthEN]

Great topic and video Colin! People don't want to hear these things, but much of what you cover is mostly self-inflicted. People buy bikes they know they cannot afford. Harley - reporting a loss knowing damn well they don't pay enough for repossession.

[@Broncoride]

True words Toby.

[@PinksAdventures]

We just finished shopping for a midsized truck. Ended up going used as new midsized trucks are up to 12 months plus out before hitting the lots!...used prices are only a few points off new has there just isn't any new supply!...same for the bike industry...our local HD dealer has tons of used...only a handful of new!...great video...stay safe out there!!😎🤙👍🤙👍🇨🇦

[@Broncoride]

I have noticed lots more new ones have been hitting the dealerships. A year ago, not so much.

[@larrymaulsby1711]

I don't think Harley Davidson has even come close to feeling the full scope of their latest failures, especially with the Livewire, and to digg the hole even deeper they are teaming up with Anheuser-Busch & Bud Light, putting the bar & shield on the Dud Light cans, what a stupid move, there is nowhere to go but straight down. If I was an investor, I would pull out immediately.

[@pb68slab18]

A flatbed pulled up to a place I used to work and one of the two men said they were there to repo a bike in the parking lot. Problem was the owner paid CASH for it!

[@Dave-hc6pp]

Harley did this to themselves. They kept pushing for higher and higher numbers from franchisees. They made several build new stores and devote a large portion of the space to retail clothing and higher margin accessories. After they had wrung every dime from that, they had to do something to move their core product, motorcycles. The way to do that was by maintaining prices but make financing available to substandard borrowers. I’m 67 years old and this ain’t my first rodeo. I seen this done in several industries and the outcome is always the same. The shareholders are happy until they’re not and that when earnings tank and the brand gets in trouble.

[@painsrides3616]

With costs and interest rates where they are now... I'll just be keeping my payed-off 13' Victory and 17' Canyon. Thank you

[@Broncoride]

Yes sir! Smart man.

[@HarleyDayRider]

This is the reason vehicle prices are so high. People don’t pay so those who do get stuck bailing out the company as always. Good thoughts from a knowledgeable man.

[@Broncoride]

We always have to pay for someone out there. It’s the world we live in.

[@michaelbutler2224]

That was really interesting, and entertaining, Thankya for that, was very informative.

[@Broncoride]

Appreciate that Michael.

[@theSMYRNAcowboy]

The tone in your voice I can surmise that the mountains does a body good. So happy for you man. I think all makes and models of bikes are having a go of it. The truth is, bikes are toys ( Most of the time) and when things get tight, the toys have got to go. Your right, unless the bike is outside, a repo person can not open the garage door and come take it. I sure wouldn't want a job as a repo man for certain.

[@Broncoride]

True on the toys my friend. Yes, it is so damn nice out here.

[@fredbarreto4]

I bought a 2009 road king with high mileage but in immaculate condition. It was cheap in price so I rebuilt the engine with go fast goodies and I don’t own anything on it. I think that’s the way to go. We buy a new Harley and then we modify the hell out of it. It doesn’t make sense to get into debt.

[@Broncoride]

Absolutely true words

[@kman-mi7su]

Yeah some of these loans are stupid crazy. I'm a truck guy too and own a Tundra I bought recently. I refuse to buy a new one for 80k or any brand for that matter. If you don't have an immedeate need for a vehicle and are patient, you can find good deals on used trucks. I bought a 2012 Tundra with just 75,000 miles on it back in December. I live in the DC area and the truck was located in Texas. I paid 890 dollars extra to have it shipped up here where I am but the truck is immaculate. I have a low payment with plenty of room moneywise for other expenses, and a nice used vehicle. I had not planned on buying a truck that old but when I saw that one in excellent shape, no rust, very low mileage, I knew I wanted it.

[@Broncoride]

Either I will pay to fix it up or prob go used. Much cheaper.

[@RussellMKay]

They will have to work with the states to take the bikes when they have the state motor vehicle inspections for their tags.

[@Hoglife]

I was just at Myrtle Beach Spring Bike Week last week and I’m not going to say what dealer but they had used bikes for 18-22,000,used!! New bikes went from 29-35,insane man!!!

[@Broncoride]

Not cheap by any means. Keeps going up.

[@Motoramblings]

Beautiful area you’re riding in!!!

[@Bredaxe]

It's crazy that they can write off your loan and repo also. They benefit way more by writing off your loan for the tax break than trying to get the bike back.

[@brianrahuba6919]

Thanks for a good idea, brother . Im gonna call Harley Davidson Corporation today ka-ching .....

[@Broncoride]

Haha. Good one Brian.

[@MotoMengy]

I would not want to be a repo man. I knew somebody who once was one, man did he have some wild stories to tell! 😮

[@Broncoride]

I bet he did. Would love to be a fly on the wall.

[@Hooijnbvn]

A lot of rental cars have Maryland plates.

[@frankmarkovcijr5459]

I put the Sportster on a 0%card and then to another one till it was paid off.

[@Broncoride]

Actually a great idea.

[@Motoramblings]

7:06 I agree, I wouldn’t want to go to anybody’s house to take their motorcycle if they don’t want to give it up! Also, I wouldn’t keep a motorcycle if I can’t make the payments, hell, I’m such a sap, I’d bring it back myself!!!

[@Roadglide911]

Financing a bike for someone who needs a 10 yr loan isn’t a good business model.

[@freebehindbars8654]

Actually it’s a great business model, horrible buying decision. HD Finance can sell the same bike multiple times, making bank at each turn.

[@txman951]

Man I've had the same exact thoughts!!! I've seen a few vloggers that monitor the new vehicle market say the same exact thing. Domestic dealers are stacked with new pickups at $70k+. STACKED. They're not selling. Not many can buy them and certainly not at those interest rates. Tesla is lowering prices and has cars on hand. Rivian is now pushing their trucks harder than ever. I also wonder about the Harley market as I'm in the market for a new one but all the dealers in DFW add extra fees, want nothing less than MSRP, etc. Even used Harleys I see are still selling for more than they sold new. I think like you there will be a breaking point especially if you're a cash buyer. Thanks for the great topic. (Check out the new Tacoma, that truck looks killer)

[@Broncoride]

Thanks. I think the breaking point will be soon.

[@Petesmotoadventure]

I read the 1st quarter report as well. It is a lot of smoke in mirrors. HD is hemorrhaging money. The report says units shipped not sold. They need to close down live wire entirely or sell it off, costing them 100’s of million a year. Like you said why would you trade your bike in for a new one that costs more and is essentially the same bike other than the motor and paint. And its not just HD all the big companies do the same just put some new polish on it and send it out.

[@Broncoride]

They did spin-off Livewire but still under umbrella. I agree on selling it. It’s not in the cards for them and was never accepted with the HD buyers.

[@davidbrayshaw3529]

And "shipped, not sold" is down. This is a real problem with regard to future profits and future sales. Zeitz thought he was being a clever bunny by increasing the margins per unit and at the same time, reducing overall production. But that is going to come back to haunt him, and the shareholders that he has fiduciary responsibility to. If you don't sell the motorcycle, then you certainly can't sell parts for it. And, as Henry Ford once noted, that's where the profit is to be made, not in unit sales. The other problem is that if you don't sell a customer the first bike, you're definitely never going to sell them the second one. Zeitz's boasting of increased profits per unit would have had any business analyst worth their salt, cringing. Livewire is a prime example of automotive industry arrogance and hubris. If any market research was ever done, and I doubt it was, it was either grossly insufficient or totally ignored. The livewire stinks of a toy that was built in someone else's shed with someone else's parts and money, while someone wasn't watching. By someone else, I mean the shareholders. And this all happened while the drawings of the Bronx were being thrown in the recycling bin. And off down the path of finance Armagedón again. You couldn't make it up. It's ground hog day. Harley Davidson are back in exactly the same place that they were only a bit over a decade or so ago. Lending lots of money to lots of people that have little chance of meeting their obligations if something as petty as a broken shoelace happens to them. Zeitz was at Harley Davidson when that all went down, too, back then. I might buy a Harley Davidson one day. I've never ridden one. But I get it. I might even pay full MSRP for one. But I won't pay a cent over and one thing's for sure, I wouldn't give you thirty odd cents let alone thirty dollars for a share in the company. I don't short stock.

[@Dodger2879]

I sold Harleys and a few points should be understood here: Motorcycles are considered a "luxury" like a jet-ski, RV or boat, so interest rates are not in line with car interest rates. Harley dealers are not honest with customers. Once in the F&I office, you are no longer their friend. The interest rate you pay, will be inflated by at least one point on each end and rarely will you be told your interest rate. (I sold a bike to a cop who had an 825 Beacon Score. He qualified for factory financing at minimum deposit, and a one point - something % loan. However, F&I "got him" with a loan at 10% plus. He did not pay attention). Pay attention! GET APPOVED FOR A CREDIT UNION/BANK LOAN BEFORE GOING THROUGH THE DOOR!! but do not mention the approval. Negotiate a price, THEN drop this bombshell. NEVER finance HD clothing on the 48/60 month bike loan. That is crazy, but HD encourage it. Ride the damn thing before buying pipes, cams, "Stage-this-and-that" upgrades! It's only worth boast value. A 600cc Crotch Rocket will always be quicker than your Garbage Barge with 8G in tuning mods, financed over 5 years! Sales Managers high five, cheer, and laugh at customers after they ring the bell and leave the premises. Do not go back either, as they know you are an easy touch. Service are goaled with selling unnecessary "upgrades" also. Also know that when you trade in that Sportster in 18 months, you are putty and trading for a used Big Twin that got repossessed, or dumped due to high payments, make them a tidy sum on both bikes. They sell new bikes to make their quota to remain a HD dealer, but used bikes to make money. BOHICA - Bend Over Here It Comes Again.

[@TyFromTennessee]

Couple things...#1. I"m a truck guy too. My Silverado is paid off and I'm going to drive that thing until the wheels fall off. #2. I actually don't trade in my motorcycles...I just let them get repo'd instead. 😀

[@Broncoride]

Brilliant plan. Lol.

[@jdreyno1958]

Besides my Ultra I have a 2005 GMC Sierra. I’ve had to invest a little in repairs and maintenance, but I plan to drive it as long as I can. My Ultra is probably the only luxury I allow myself.

[@Broncoride]

Old trucks are the best. Mine has lasted a long time. 20 years later and it’s still going. A proper Bluetooth would be handy though. 😎

[@heathwest3718]

4 years ago I paid $18k roughly for a 2015 street glide special with 6500 miles. The same ones with similar miles are going for $19-20k sometimes more. It's crazy! Growing up I was taught depreciation but this new age of vehicles gaining value when they leave the lot is a bad sign I feel.

[@Broncoride]

Depreciation has been thrown out the window.

[@simongilbert2704]

some very good points there ;

[@Broncoride]

Thanks

[@jeman022004]

I know what you mean about vehicle prices! We are looking to replace my wife’s SUV this year. Probably better to wait and see. Interest rates and prices both can’t remain high for too long. One of them or both have to give at some point.

[@Broncoride]

Man, I sure hope so. It’s time.

[@jetag93]

I have 315,000 on my 2010 tundra. Still runs strong.

[@Broncoride]

It’s a great truck!

[@Motoramblings]

6:31 I know that intersection you just went through!!

[@phlodel]

I guess that's why my local Harley dealer wouldn't even speak to me until they ran my credit.

[@Broncoride]

Sad.

[@richardrussell500]

The excessive retail prices and interest rates are insane... interest rates vary and go as high as 24%, which is credit card territory.

[@Broncoride]

Here I am complaining about 7%, and then you see those rates.

[@BrewCityRider]

I've been trying to buy a replacement big diesel truck for a couple years. Used prices are insane, you can't find a new Super Duty on the lot, and it takes too long to order one. Well finally just this past week some new 23's have been showing up on the lot, but now the interest rates are too high ugh!

[@Broncoride]

I feel you man. Way too pricey.

[@fredbarreto4]

You could literally rebuild your whole Toyota for the down payment of any new or used truck

[@Broncoride]

True words!

[@aucklandsadventures]

Dealership here has a 95 F150 extended cab for $16,000. Also has a 96 Chevy truck for the same. There’s no way I’d buy a new truck.

[@Traillesstaken]

I hate it for anyone that has to let go of their bike, car, truck trust me I have been their. actually they had no right in getting the car the payment had already been sent out and they got it 2 days later now all of this was back in the late 90's internet was windows 98 so to pay online really was not a thing back then. But any who I have just about put myself back into that situation again with paying for 2 Harleys $460 a month for the 2010 Ultra Limited, and $581 a month for the 2017 Sportster not to include full coverage insurance. I'm crazy I know, As for your main ride I would fix it up no need paying the VERY HIGH sale price of cars these days you can do what I did with my 2005 Silverado 2500HD 4x4 and put a brand new trans and transfer case in for under 6 grand and if it needed an engine then you can do so for another 5k and pay less payments a month then it would for a new ride. Plus have the ride you got now with all new parts that will most likely out last the new model cars / trucks that are rolling off the lines in todays time.

[@Broncoride]

I’m leaning that way. Prob going to have to rebuild the engine and get a transmission but it will be so much cheaper in the long run.

[@triumphrider9796]

Yeah, prices and interest rates are a bitch, glad I'm not looking at buying another vehicle soon (car has over 150,000 on it but motor had to be redone at 125,00 due to a spun bearing, cost less than taking a bath on what was left to pay off). Haven't seen it lately and don't recall what channel it was on, but several years back I saw some episodes of "Airplane Repo", that was different! Damn but you have nice scenery down there.

[@brettcreech3490]

Great video .😎

[@Broncoride]

Thanks Brett.

[@chuckhanson35]

There are 2 problems in this financial area. 1. People do not know how to budget for these nonessential things. 2. The dealers want to sell a bike so bad that they, including the finance department, give loans to people that do not have the income to make their payments.

[@Broncoride]

Nailed it

[@HarleyGeezer1954]

The only way to change things is to buy used. Very used. Of course the used market is crazy as well. It no longer makes any sense to finance a new vehicle of any kind. Motorcycle or car.

[@Broncoride]

Used market is over saturated, so you can find some good deals out there.

[@my.motorrad]

Cui Bono(RE high interest rates)? Follow the money. Even Ayn Rand would be ashamed of business leaders today. I don’t agree on the stimulus is the reason. Inflation plays a part coupled with stagnant salaries. HD did it to themselves.

[@Broncoride]

The stimulus is just one part of it, not the be all to end all. Very nice “Fountainhead” pull.

[@my.motorrad]

@@Broncoride I think some car brands will be going through this too. Some of the car channels I follow report higher repossessions. One of the bike channels I follow, cycletron, does videos on this stuff. He talked to a HD dealer and even with tier 1 credit HD financial was quoting 12%. That's a big whisky tango foxtrot. I agree with you, wait. I got my challenger used in Feb of 2022 and I have 4%. Used is usually higher rates than new. 7-8% new, nah. I dig the new Tundra though.

[@Motoramblings]

3:38 $1,000.00 a month for a vehicle payment is CRAZY!! I could never do that!!!

[@Viper6-MotoVlogger]

I’m aiming for a Tundra next. But, I’ll have to sell a kidney lol.

[@Broncoride]

And a couple more organs, right?

[@tylerlower5140]

Definitely waiting for interest to drop to get in to an M8 road king

[@ScrambleNorth]

It’s crazy what the banks will loan now.

[@Broncoride]

Truth

[@mojomanmurph1925]

I have been in the financial business for decades now. We are headed for a financial crisis. Stay in your home. Don't make big purchases. Save your money. Prepare for it.

[@Broncoride]

Going to be a rough couple years!

[@camgere]

"We can get you financed" has been a marketing ploy for decades. I wonder what the repo rate is for the various FICO scores: Deep subprime (credit scores below 580) Subprime (credit scores of 580 to 619) Near prime (credit scores of 620 to 659) Prime (credit scores of 660 to 719) Super prime (credit scores of 720 or higher)

[@Broncoride]

I would like to know that information too, but I have a feeling I’d know where it would end up. 2008 was a example of what put us into recession.

[@MoxieMike66]

I didn't want to pay $30k-$40k for a bike, like you don't want to pay $70k+ for a truck. Bought a new 21' Vaquero last year for $18k, put $3k down, 3.7% fin. Have a 16' RAM, paid off. Walked away from the dealership during the pandemic, tried to sell me a new truck, didn't follow through on a single promise in the letter they sent. Still have less than 60k mi on the truck, I'll wait til' the bikes paid off. Because of all my bills being paid off & paid on time, turns out I've got over an 800 credit score now. Put a new metal roof on the house, paid in full, no mortgage, bike loan's the biggest bill right now, want to keep it that way if possible. Have a decent job, yearly bonus, wife works too, don't live rich, but we're comfortable, get a good tax return every year too. We live simple, few worries.

[@Broncoride]

You are set-up the right way Mike. Nice.

[@HarleyBreakoutGuy]

I bought every thing with cash, never had to finance anything thanks to God for giving me a good life.

[@Broncoride]

Happy for you my man.

[@crobin9150]

Save and pay cash - we have never had a bike or car payment

[@Broncoride]

True words

[@HarleysDinersRides]

Trucks, car and motorcycles are all paid off...Mr Repo just keep on driving by. No business here. Cheers

[@Broncoride]

That a boy

[@wooddawg4868]

A lot of people are getting their motorcycles repoed. A lot of times it's an issue with people buying more bike than they can afford.

[@Broncoride]

True words. Buy within your means.

[@robertcorrigan3816]

The problem I have with Harley-Davidson Dealers Repoing their bikes. With the dealer repoing, are you going to pay the remainder of the loan, or are they going price it on as new??????

[@Broncoride]

Depends on dealer probably. They will most likely put it to auction or try to get money as used in dealer. Ultimately, they will get their money back and any difference on price from what was owed and what it sold for will be responsibility of the owner.

[@TexRider]

interest etc is crazy

[@Broncoride]

Yes it is my friend

[@rodneybarcus2233]

Harley Davidson credit problems are self inflicted. Their finance department would loan out money to a bologna sandwich. No wonder some are defaulting. Here is a brand new problem for them. They thought it would be a good idea to put their logo on a can of Budweiser. No there is a slap across the face of their core customers. I wonder how many bikes they sell with that kind of marketing strategy?

[@Broncoride]

Lots of comments on here about how they would finance to anyone.

[@davescrazy-trailer6542]

Who would have thought if you loan 150% of value

[@feloniousmonk3049]

The interest rates aren't crazy... They are, by design, being used to slow down purchases by people that shouldn't be financing expensive "toys" to play with, like sports cars, boats, motorcycles, and the like, by people with poor credit or who aren't capable of living up to the terms of the contract they signed up for and agreed to. If you can't afford to buy it outright, then don't buy it. Only exception would be your house and a loan for the roof over your head.

[@nevillegreg1]

HD has increased the profit margin on its bikes, we pay more, they line the pockets, we are stupid in accepting the HD propaganda. While we continue to buy their bikes at ever increasing higher prices without commensurate product improvement, they will continue the price gouging strategy. Evidence: total unit sales down but profit has increased. And too many folks that buy what they can't afford. What ever happened to saving up to buy what you want, even saving up a decent proportion of the amount so not having to borrow as much?

[@Broncoride]

Their margins on the bikes hasn’t gone up too much due to cost of materials but let’s be honest, they are still making more money off them. I could see an increase in prices due to this, but not as much as I’ve seen.

[@ronkelly255]

I've got an '11 Dodge dually with 345k miles and a '13 F-150 with 325k. And am currently refurbishing them at $10k for the Dodge and $5k into the Ford. I refuse to pay $100k+ for a new dually or $80k for a half ton!! If I only get 100k more miles out of each one, I figure I WIN, lol. That repo stuff IS crazy risky stuff in this current cultural climate!!

[@Broncoride]

That’s smart Ron. Much more practical to rebuild them from a cost standpoint. I’ve thought of that with the Tundra.

[@SmittyAZ]

With the comments on this type of cash / financial video, I always remind people that one size does NOT fit all. Some say mortgages are for chumps, until an actual muti-millionaire that we know from real estate, mentions how many mortgages he’s carrying. Same when someone mentions only fools buy new models of bikes due to bugs and depreciation - until we mention the multi mill guy buys new models all the time. I worked with LIARS that pay cash for everything - nice homes, boats, motorcycles, jet skis, cars, 100K pickups to pull the toy haulers, etc. Later, they always slip themselves up. 😅

[@Broncoride]

Wouldn’t it be nice to have a 100k truck and a toy hauler. Go Powerball.

[@neilfelsbourg170]

I have been on both ends of repo. I used to repo 18 wheelers and that was scary at the best of times. You think bikers are different breed? Truckers spend all day everyday alone on the highway and are for the most part the dictionary definition of antisocial. In 2020 I had a leased company truck from a company that shuttered. I had moved 6 hours away and lived on a farm in the middle of nowhere. No Idea how the repo guy found me but when I came out at 6am to see him hooking up I went down to ask if I could get my stuff out of the truck. He was shaking like a leaf. It was never my truck so I had no problem with it getting dragged away but I thought that guy was going to wet his pants.

[@Broncoride]

That’s a funny story on that guy. You’re right on truckers for sure.

[@bigjohnson9561]

Harley Davidson Financial Service is to blame. Somehow I’m amazed how individuals get loans on bikes that are over 10 years old. It looks like HD Financial Services artificially props up the used bike market. Then they finance a lot of individuals who shouldn’t be securing loans. Couple that with high prices on their new bikes and high interest rates, and it spells a formula for disaster. Idk what the future holds but high prices for old and new products is not sustainable. In the long run things will catch up. Only then when prices come back down the smart consumers will come back to do business.

[@Broncoride]

It won’t be sustainable for too much longer. Some rough times ahead.

[@Robert-ts5ze]

It is coming down to the point where you are going to be forced to choose to buy a home or a bike ....not both .

[@Broncoride]

Sometimes it feels that way for sure.

[@marcgarrity4685]

Why does it feel like every time I watch any KZbin video in which someone is on a bike, they're always " tooling " around with their clutch hand waving around them and their go pro seems to be looking at everything but the road?

[@Broncoride]

I just talk with my hands, but my eyes are focused on the road. Fair perception though.

[@Nebulax123]

I cab tell you the real problem they will finance anybody. They are so desperate to get units out the door. I saw them make loans I never would.

[@Broncoride]

That was start of the 2008 recession when they approved most. Then, we saw what happened…..

[@dogpaw775]

living on projected earnings, free money, keeping up with the Jones' course things are going come unstuck.

[@Broncoride]

Indeed

[@JohnDoe-bk5hf]

Don't worry bro it's going to get a lot worse ,TheEndIsNear

[@GMan26662]

Harley does pay enough for repos, and they’re slow pay. Takes forever to get paid, up to 60 plus days. Harleys are easy to find and recover, but they’re recovery payments suck. Take a cue from Toyota or Honda, pay upon successful recovery, not whenever you decide to. Third party lenders are much better. Yeah I know it sucks when you get repoed, but pay your bills and that won’t happen.

[@Broncoride]

Thanks for the info on the pay. Didn’t realize there was an issue with getting paid on time. Damn, almost two months. Ouch.

[@patrickhollis5332]

The bad thing HD has done been down this road since the last economy dive in the 2000’s and I get it they try and move push are whatever they have to and get volume up and some times it does bite but the way things are moving to all the Libby Tree Hugging vehicles is fixing to kill any combustible engine and it’s going to drive the price way on up on any vehicle so if you want one people better start jumping

[@Broncoride]

Think HD will be doing gas for a while. Livewire tanked

[@keithdriggers9578]

Sorry Colin. I had to turn in my 21 SGS, just couldn’t afford the payment and insurance any longer.😭 I make 78,000 a year and just can’t make it. Love your channel and all the content you helped me with when I got the bike. Take care, be safe.

[@Broncoride]

Sorry to hear that Keith and I appreciate the kind words. The rates are just insane.

[@frankmarkovcijr5459]

Harley is drowning in repossessed motorcycles because all of the people look at that $700 a month payment that goes on forever and decided to chipley too much to play vroom vroom on bike night. Between the twin cam and the milwaukee-eight they both need between 5 and $10,000 worth of work to correct all of the cheap parts at Harley put in the motorcycles and due to their unreliability many people are letting their motorcycle getting repossessed by letting it go back to the dealer. You buy a brand new Harley and it's it's in the shop more that it does in your driveway. If your brand new motorcycle is going to sit in the shop waiting 9 months apart you might tell them just to keep it. Harley try to sell off lots of $10,000 loans because they know all the people they sold a Harley to that could barely pay for it are going to let it go. It used to be a Harley-Davidson was considered a pile of money now it is a pile of debt. The modern Harley is not a motorcycle it is a collection of government regulations on two wheels.

[@jamessouthworth1699]

I wouldn't buy a new Harley. Higher prices and I don't like them much anyway. I'll stick with the older Harley's like the one I have that's already paid off.

[@Broncoride]

That’s the best kind to have!

[@NorCal-refrigeration]

HD is down 100 million in cash reserves

[@Broncoride]

Ouch, ouch, ouch

[@johnnyx9892]

I think the Live Wire has lost over $125 million. Probably a lot more than that.

[@thomasbranson7237]

I can see a problem right off the bat. Never buy a bike on credit!! If you cannot afford it, walk away.

[@Broncoride]

Buy within your means. Simple.

[@arnoldpadilla6471]

Most everyone i know. Did not pay off or direct stimulus money they received. They bought toys or went on vacation.

[@Broncoride]

Some I knew did that and some others were financially responsible.

[@billjenkins5693]

Harley Davidson has gone Woke by going into business with Budweiser. Indian went Woke by doing business with Jack Daniels

[@greghoward4559]

How did Jack Daniel's go woke?

[@leipersgreen6763]

I refuse to buy anything new!

[@HarleyBreakoutGuy]

9 out of 10 harley riders financed their rides, very very bad business.

[@Broncoride]

Cash is king. I’d rather save up and limit the financing but that’s hard for many folks. Buy within your means is my motto.

[@davidbrayshaw3529]

Are you serious? Are they actually the figures? I pondered the question to another KZbinr only a couple of nights ago and he was unaware. 9 out of 10 seem like a ridiculously high number.

[@Broncoride]

@@davidbrayshaw3529 I personally didn’t validate that number but that does seem very high on what he said.

[@davidbrayshaw3529]

@@Broncoride Thanks for your reply. Yes, it seems high, especially given the demographic that tends to ride Harley-Davidsons, but honestly, at the same time, I wouldn't be at all surprised if it's not too far off the mark, either.

[@noidreculse8906]

Harley has lost their minds. I have had 6, and currently own a Pan America, and they can repo that 💩 any time they want. Profit focused thieves. Back to the metric bikes.

[@Broncoride]

Haha. That cracked me up.

[@seavee2000]

Thank brandon and his cronies, you got what you voted for. Well, 81 million did, right?

[@Broncoride]

I wasn’t one of them, but that number sounds about right.

[@davidnowhere2637]

It would make no difference who was in except some small differences around the edges

[@aucklandsadventures]

Being a repoboy isn’t a good idea. Risking your life for Banker’s money isn’t the smartest way to make money.

[@Broncoride]

No sir, it is not.

[@bigcatlivesmatter]

Proposed collaboration with Anheuser/ 'Bud Light'. What could possibly go wrong. Another causality of WOKE PHENOMENON. R.I.P. , Harley Davidson. You will be missed.😵

[@Knightedddd]

Harley is now just as woke as Butt light. Never again ever.

[@anthonykurtz1112]

Amen brother. If things weren't so bad I'd go with an Indian

[@johnnyx9892]

Add FOX News to that. They fucked over the people who made them great.

[@Broncoride]

Butt light. That cracked me up.

[@jimholland1592]

There are going to be a lot more now after there woke direction🤔

[@snakebite6511]

These days, people always want the biggest and the best because they think they can. Houses, vehicles, motorcycles, you name it, people were buying it because they got drunk on low interest rates and didn't plan. Sure house values when up, then people used their house as a piggy bank and were slapping lines of credit on their home and buying expensive cars or the most expensive Harley's and racking up their line of credit. Rates went up and people started to cry, but what did people think the outcome would be when the government was handing out all this free money I dont feel sorry for any of these people, they bit off more than they could chew because they thought cheap money was a forever thing (nothing is forever) Now they are not getting handouts, rates are up so their line of credit is far more expensive, they are renewing their mortgage at a substantially higher rates and inflation. People need to take responsibility for their own actions

[@Broncoride]

100% agree

[@eltonwhite8490]

If anyone was actually dumb enough to try and repo my Harley over some BS technicality from the bank trust me there would be gunplay on the magnitude of ww III it would be spectacular and make the news for sure I had one vehicle repo'd over a clerical issue and never got it back that will NEVER happen again