motorcycle loan?

[asdfjadg]

$75k/year income.

US DEPT OF ED Direct Loans (Closed, paid as agreed, 10+ years of history w/o any lates).

Cap 1 Auto (have made 2 payments so far), $18000 balance

Cap 1 CC (8 statements), $750 limit, $0 balance

Orchard (5 statements), $320 limit, $0 balance

Kay Jewelers (5 statements), $3000 limit, $1872 balance

Amex Zync (0 statements, just got it last week)

One charge off from BoA that is set to be removed on 01/2012.  It only shows up on TU and EX.  (And the CA still calls about it everyday, too... ha.)

Based on the above....  will I be able to qualify for a motorcycle loan?  Should I go to a CU or my regular bank?  Or use for example Kawasaki's Good Times card?  Or Honda Financing?

Would like to borrow about $4k.  I can pay cash for it, but would rather have this also help my history since I have a relatively thin file.  A lot of older bad stuff just dropped off within the last two months.

Thoughts?

[Watchmann]

Very often the companies own fianincing is cheaper than banks or CU's.....often 2-4% APR, just to move the stuff off the showroom floor.  M/C, personal watercraft and other 'toy' vehicle business has been hit hard the last couple of years.  Investigate this financing first, you might be surprised.

[asdfjadg]

Thanks for the reply!

What do you think - will I be able to get approved for dealer financing with the above record?

[Anonymous]

I'm not sure if you plan to purchase additional insurance for the bike, but Kawi doesn't require insurance for loans under a certain amount (I think it was 10K). Pretty much any outside lender that knows its for a bike will definitely require insurance. It's a good idea to have it either way but not sure if that was a consideration. 

[asdfjadg]

not that concerned with insurance.  just trying to figure out whether or not i'd get the loan to begin with.    thanks for the thought though!!

(What does HSBC look for?  Realizing that they have collateral here - since they keep the title of the bike).

[asdfjadg]

and what's the deal with not being able to apply for Kawasaki financing online?  Having to go into the dealier to do it kind of sucks.  I'm afraid I'll get declined in person.  ;p