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I was an active participant in the Eaglemark Bank fiasco. In 03/04 I was selling bikes for Rossmeyer both on the sales floor and via the Internet. I think it's hard to realize now just how desperately people wanted a Harley. And I think the Beenie Baby analogy is valid, the same MUST HAVE IT AT ANY COST hormonal rage applied (people paid hundreds of dollars for those things, and were happy to do it).

Eaglemark had few rules: you had to have owned a home for 5 years, or you had to be at your job for 2 years. If you didn't owe child support or have an active IRS tax lien, you were good to go. The rates were really high, 21% was the low end, they maxed at 33%, but people still bought. You had to have 10% down, but even that was easily skirted by bringing in an old frame and title. We'd value it up and then add that on the back end. There was a lot of creative paperwork done too; single income families suddenly became 2 income families...job letters were...well, you get the idea.

I remember a grown man crying in the middle of a busy sales floor when I couldn't get him financed. He'd been there all day, he'd gone from an Ultra to a Dyna to a Sportster, the F&I lady did every trick she could think of, he couldn't get financed. A few days later he showed up with cash; he'd closed his 401K and taken the IRS hit, pawned a coin collection, etc. to raise the $14k OTD price we were charging for a Sportster Custom. When he rode away, he was the happiest guy in Fort Lauderdale.
 

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I'd say that was typical. I (and The Wife) used to work for the SOB's...............
It's pretty pathetic when a company petitions the Legislature to raise the minimum wage so their employees can afford to buy the crap they sell. At least when Sam Walton was alive he made a point to buy stuff from US companies. Now it's fu<king Chinatown.
 

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he was raped hog tied, no lube no reach arround raped
14K for a sportster = rape
cashing out 401K for any motorcycle = stupidity
No, that incident would be the guy I sold the 2 "Choppers" and a trailer to on the night before Xmas Eve. He owns a company called "(name removed)" and he'd made a bunch of cash from the hurricane we'd had a few months before renting his Port O Lets and pumping flooded septic tanks. He showed up drunk with his father in law just before closing. Everybody else ignored him because he smelled really bad. I sold him an American Ironhorse Texas Chopper at only a few grand above list. His Dad in Law was the real score; he got an Evo Dyna Wide-Glide that somebody had put custom wheels, paint, and front-end on. I sold that gem for $28k, the NADA was probably about $14k. Since they were too drunk to ride, I suggested a nice Kendon Dual trailer with the chopper rail extensions. I had to work till midnight, but made about $3k in commission. A few days later when they sobered up, they came back and raised hell with Bruce Rossmeyer hisself. Being the generous, kindhearted man he was, Bruce gave each of them $1,000 store credit. Three months later they traded in both bikes at a huge loss and bought a new Ultra and a Duece.

Maybe some people like being raped.
 
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