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Advice on Bad Credit Motorcycle

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Q: Any ideas on a reliable site for bad credit motorcycle financing?
I have been divorced twice. Due to that and foolish decisions from my youth, I am left with a beacon (more like a flashlight) score of 570. Yamaha credit declined me. I purchased a car in March through Capital One, I have two credit cards with them (all are paid on time, ahead of schedule and way more than the minimum when I have a balance) but they do not finance bikes.
Any reliable sites out there to finance someone like me?
Thanks in advance for the advice.

A: Managing your finances should never be a completely solo task. Why not take advantage of the hundreds of free financial consultancy websites? You can easily find reputable help from financial directories like http://cozyfinance.com/ and save yourself the hassle from learning it all yourself.

Q: Im looking for help trying to obtain a poor-bad credit motorcycle loan can some ione help me?
need help with a poor credit motorcycle loan please help me.

A: you can see my profile for possible help
link for place where they compile banks and lenders for people with less than perfect credit

Q: Bad credit motorcycle loans?
Where can I find a list of lenders that will give bad credit motorcycle loans?

My credit score is around 580, if that helps.

Thanks

A: Getting financed for a motorcycle with bad credit, no credit or past bankruptcy can be a difficult task, but not impossible. Unlike car loans, there are much fewer lenders out there that are willing finance motorcycles to someone with a poor credit rating.

Fortunately, in today’s world of sub prime lenders, there is always a lender out there who will take that chance. Below is a list of lenders who will finance motorcycle loans to people with bad credit.

E-Loan – eloan.com

PSTV – powersportstv.com

American General Financial Services – loansfast.com

Q: Bad credit motorcycle financing?
I have a credit score of 530, my girlfriend is willing to co sign with a credit score of 709, I make 2000 a month after taxes she makes like 500 bucks a month cause she is in school right now. I have 2k to put down on a 7-9k bike would i get approved?

A: The first thing I’d ask is what are the causes of your credit score being so low? Do you really need a motorcycle right now? Do you have a car to drive, instead? If you get approved (on your own) you are going to get stuck with a high interest rate, which is going to make it difficult to pay back. Don’t have your girlfriend co-sign the loan. You are putting your relationship in jeopardy. After all she is in school so its not fair to her. Best of luck.
Instead use the 2K to address your outstanding credit issues.

Q: can you get a motorcycle with bad credit?
Ive been thinking about getting a motorcycle lately so naturally i looked into it.I know i have either no credit, or just bad credit and i was told by a friend that since motorcycles are a luxury item i wouldn’t be able to get one without decent credit.

P.S. im looking towards getting a 5 grand sports bike not a chopper or anything to far out there

A: anything is finance able you will just pay outrageous interest rate

Q: has anyone had experience with bad credit motorcycle loans like creditalliance.com etc.?
im wondering if the site is legitimate, i would type my info in there and see but i dont want my identity stolen. Anyone have any experience with them?

A: credit-report-score.10001mb.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

Q: Where can i go to get a motorcycle loan with bad credit?
I have outstanding bills that i still owe on; credit cards and a lot of other things as well. My main dream even thou i think it is impossible due to my many problems is to own a motorcycle. Any and all help would be greatly appreciated.

A: Why don’t you try something nutty like,… oh, living within your means until you get your debts paid. Then you can start saving for a bike; its as simple as that.

You may want to start listening to Dave Ramsey. http://www.daveramsey.com/radio/home/ Seriously.

I have a ZERO credit score, have absolutely NO credit cards, I am not dirty rotten filthy stinking rich and I’m not a trust fund baby. I ride a 2002 Dyna FXDWG that was paid off in 2004, live in a cheap but safe apartment, go to college on non-borrowed money, and maintain a part-time job.(and I have all my hair) If I can do it ANYBODY can. Come see how the REAL minority population lives…. debt free. 20 million people can’t be wrong.

Q: finance a motorcycle with bad credit?
i have bad credit, but i have a stable job. the motorcycle i want may cost 7-8k. i want to put down 1k. will i be able to get finance for the bike ?

A: If you are able to get financing, interest rate will be double digit.
To me not worth throwing away your money paying a lot in interest.
Seriously, save your money, repair your credit rating, and pay cash for a motorcycle.

Q: Bad credit motorcycle financing help?
My experian credit score is 515. I just got a auto loan for $16,000 and a unsecured mastercard. I have been trying to improve my credit. Is there any chance I can get a loan for $2000-$3000 for a used motorcycle? And could I get financed through suzuki or kawasaki?

A: 515 is a pretty poor credit score. I have to imagine that the interest rates on your auto loan and credit card are pretty high.

You do not need a motorcycle. You have a car.

The best way to improve your credit is to pay your credit card balances in full EVERY month. This way you avoid paying interest, and you will build a good payment history and to make your car payment on time EVERY month.

Until you have payed off your car, and raised your credit score to the high 600s to 700s you shouldn’t finance a motorcycle.

If you really want one, save up for it and pay cash. But your current debt takes priority over saving up for the motorcycle.

Q: how can one get a bad credit motorcycle loan?

A: You most likely cant. Get a co-signer with good credit.

If there is someone willing to finance you…your interest rates will be sky high.

Good Luck.

Q: How can I get good motorcycle financing with bad credit?
I had perfect credit up to a year ago, when personal issues required me to file bankruptcy. That was in January of 2007. The bankruptcy has now been discharged. Anyways, I am looking at a Yamaha YZF-R6S. I have more then enough to pay for insurance and the monthly payments, but there is no way that I will be able to get financed by the dealer. Can anybody tell me any places that I can go that may work with my credit score of 579? Also, if anybody else has any other bikes 600cc and up that they would recommend, I would appreciate it. Thanks!

A: You filed bankruptcy, and now you want a magic bank to finance you with poor credit? It’s not gonna happen. You FILED BANKRUPTCY, and it stays on your credit report for 7 years even if it was discharged. Banks don’t care what your problem was, all they see is the bankruptcy, and they don’t owe you squat.

You might try a credit union, but you’ll have to open an account with them first before they’ll grant you financing. they have FAR better rates than a dealer anyway, but YOU will probably be staring down the barrel of a 14% finance rate (at best) regardless.

Lesson learned: don’t file bankruptcy and expect everything to be OK afterwards. It tells people that you can’t handle money properly.

Q: Does anyone know of any poor credit motorcycle loan companies?
I had my identity stolen a year ago and am in the process of repairing it, so my credit looks pretty bad. Regardless, I’m looking to get a new bike. Does anyone know of any decent bad-credit motorcycle lenders? Thanks!

A: Talk to the salesman at the dealership if he can get you financing.
Shops want to sell bikes no matter the cost to their reputation.
They take kickbacks from loan companies to finance people with bad credit.
The insurance rates will be killer, but you might have a chance to get a bike loan.

Q: How do I get passed bad credit for buying a motorcycle?
I’m attempting to buy a new Kawasaki Ninja 250R in a few months, and I’m 19, so I don’t have any credit. I’m positive I’ll be denied when I try to purchase my motorcycle. Can I just offer more money on the down payment? what can I do, please?

A: You’re better off buying a used Ninja 250 than a new one. Everybody outgrows a 250 after a year or two. A used bike is much cheaper, there is less tax, and you can re-sell it for the same price you paid.

If you’re still stuck on buying a new bike and need a loan, here’s what I think -

No credit is better than bad credit. A Ninja 250 is not expensive so either your bank or bike dealer will approve you but they may ask for a minimum down payment. It’s not like you’re asking for a mortgage or a car loan. The bank and the bike dealer are going to make money off the interest you pay, so if they can find any way possible to approve you for a loan, they want you to buy that motorcycle.

I also suggest you read this link before buying anything from a car or motorcycle dealership. They will have an amazing number of tactics to try make you pay for extras. Don’t fall for these tricks and remember you can always walk out if it feels like the price is going up. Do not sign anything until you are 100% comfortable with the number you see.

http://www.carbroker.com.au/car-dealer-tricks-tactics-scams.php

Q: Does anyone know of any poor credit motorcycle lenders?
I had my identity stolen a year ago and am in the process of repairing the damages, so my credit looks pretty bad. Regardless, I’m looking to get a new bike. Does anyone know of any decent bad-credit motorcycle lenders? Thanks!

A: If I were you I’d try to clean up your credit & then find a loan. The interest rate will be so much lower & you’ll get it paid off much quicker. Lenders are looking hard at anyone with bad credit. They aren’t concerned with how or why it got that way.

Besides, taking care of the theft issue should really be a top priority….especially these days.

Q: Does bad credit motorcycle financing exist?
BESIDES HARLEY??

A: Sometimes finance companies will loan money on a bike. They have very high interest and usually short payment terms. You would be better off to just save up.

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