topic Re: Motorcycle loan... VROOM! in Auto Loans

Motorcycle loan... VROOM!

jcstarkey8826 — Mon, 18 Jun 2012 15:08:11 GMT

So, the simulator says my score goes up if I get an auto loan. I currently have an auto loan, and have had several in the past, but they dont report (small local bank in rural AR) the type of place you just shake hands and youre approved lol

while that was great, I now live in MI and have no creditworthiness to show for all of those loans (1 late over 6 years of history)

I am currently in the market for a motorcycle. My scores range from 605-639 after my recent util drop, and collection removal.

Ive never gone outside of my previous bank, and dont know where is the best place to turn for a motorcycle loan? If I can even get one with my scores.

The bike I want is around 6-7k, and I have 1k to put on it, more if need be.

should I even bother with this? if so, where should I turn? credit union? (Im just asking on a credit basis, I have the financial means to obtain this, DTI is 2% CC util is 6%)

Re: Motorcycle loan... VROOM!

Watchmann — Mon, 18 Jun 2012 22:08:23 GMT

You can start with a CU or a Bank and see how it goes. Some institutions are more cycle friendly than others. Is this bike at a dealer or a private sale? If its through a dealer they often have sources of credit. If it's a new bike manufacturer's usually have subvented rates (usually 2-4% for 36 months).

Re: Motorcycle loan... VROOM!

jcstarkey8826 — Mon, 18 Jun 2012 22:56:07 GMT

2009 harley nightster. it is a dealership. I applied via CU and the app said it just required 10% down, so we'll see how it goes!

Re: Motorcycle loan... VROOM!

BigDaddy18 — Tue, 19 Jun 2012 08:53:50 GMT

Harley what? No way you need a croch rocket!! Honda CBR 1000 unless you have never rode before then you need to start out with a small bike to be safe and learn how to ride properly first.

I would go with Credit Union if you can!

Re: Motorcycle loan... VROOM!

jcstarkey8826 — Tue, 19 Jun 2012 12:47:28 GMT

Harley Nightster, its a black custom looking version of the sportster... I would NEVER get a crotch rocket, uncomfortable, too much power, and I dont like the look. Im more of an old soul for a 25 year old. I like vintage looks. Just looking for something to cruise around on the weekends and relax.

Tested the waters with a CU, so we'll see :)

Re: Motorcycle loan... VROOM!

BigDaddy18 — Tue, 26 Jun 2012 12:23:21 GMT

Well two wheels is two wheels it's really all fun to me. I'm just glad my girl still rides with me, actually I think I ride with her. She has a GSXR 1000 and she is 50 years old She if freaking awesome!!!!

Re: Motorcycle loan... VROOM!

jcstarkey8826 — Tue, 26 Jun 2012 14:20:13 GMT

BigDaddy18 wrote:
Well two wheels is two wheels it's really all fun to me. I'm just glad my girl still rides with me, actually I think I ride with her. She has a GSXR 1000 and she is 50 years old She if freaking awesome!!!!

thats awesome haha I hear ya, 2 wheels is 2 wheels, but I dont need all of that power! lol I bet that thing will fly!!!

Re: Motorcycle loan... VROOM!

BigDaddy18 — Sun, 01 Jul 2012 05:42:59 GMT

jcstarkey8826 wrote:
BigDaddy18 wrote:
Well two wheels is two wheels it's really all fun to me. I'm just glad my girl still rides with me, actually I think I ride with her. She has a GSXR 1000 and she is 50 years old She if freaking awesome!!!!
thats awesome haha I hear ya, 2 wheels is 2 wheels, but I dont need all of that power! lol I bet that thing will fly!!!

Indeed, she scares me sometimes that girl has no fear! I like the corner and she just likes to go fast!!