In the first quarter of 2008, though, HDFS was forced to retain $54 million in loans no investor would touch. Even fewer buyers stepped forward in the second quarter as loan delinquencies kept rising.
Sales down, jobs cut
Harley's finance arm has taken some steps to tighten lending to subprime customers.
And its beefed-up loan collection staff is making more calls on weekends and evenings to chase down deadbeats.
Klein says credit 'may be less accessible' to customers with low credit scores and that HDFS has reduced its no-money-down financing offers, reserving them for the most creditworthy customers.
Image: A painted Harley Davidson is displayed in the Olympic Stadium during the Harley-Davidson 100th Anniversary | Photograph: Lluis Gene/AFP/Getty Images
Also read: Meltdown: When the pain will end
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