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Does anyone here know where I can get a motorcycle loan for a person with a "not so good" credit?.. I would like to know who, and where I can apply for those types of loans?...thanks..
 

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Do you belong to a credit union.....that's what worked for me when I couldn't get Honda financing.
 

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CHECK WITH THE MOB.... :twisted:
 

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If you havent had any repo's, the dealership may be willing to finance you with a deposit down. Normally banks wouldnt like to finance you for a bike if your credit is bad considering bikes are not used for necessities, just pleasure. So they assume that you would not be as willing to pay on the load on time.
 

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DizwikedCBR said:
iheard motorcycle loans are harder to get than cars loans, your best would be a credit union or getting a someone to co sign with you
you're right. motorcycles are toys in the us. automobiles are considered more necessary.
 

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JetBlast10 said:
DizwikedCBR said:
iheard motorcycle loans are harder to get than cars loans, your best would be a credit union or getting a someone to co sign with you
you're right. motorcycles are toys in the us. automobiles are considered more necessary.
yea, they are consider as a luxury item, which isnt needed
 

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would it be better to go through a bank instead of the dealer? or vice versa?

I have a friend that is looking to get a newish 600ss, and he will need to take out 6-8K, what do you think would be best for that situation....

Getting a co-signer would be difficult, so that option is somewhat limited- he is 18 and no previous credit history....
 

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Im in the same boat Phaderlanx,

Im 19 (20 this year) and i have no credit whatsoever.

My Dad might Co-sign for me, but other than that. No loan for me.

Banks want at LEAST a fulltime job, and 6-8 months of good credit. Prolly more.

Also, the're more likely to give you a loan if your putting down 15-25% of the loan in cash.
 

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The bank said something about using the bike as collaterall, and if he had a full time job...? Still no loan? Does it depend on the bike or what...

Can you go through the dealer to have it financed? Trying to help my friend out.
 

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Well the're are loans called Collateralized Loans. Meaning, they have some " physical " item to act as collateral, if the loan were to fall through. Else if you got a personal loan for just whatever, they dont have anything to take IF/and when you couldnt pay it out. So basicly, they get your bike if you screw up. They auction it off, and get their cash back.
 

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Pretty much any other option is going to be better than Honda financing....they are really tough of people. I own a home, a car, and have a pretty decent credit history but was still denied financing through Honda because my credit history isn't long enough at 25....
I'm not saying others haven't been able to get it younger than me but you've got to have straight A credit and proof of a well paying job.
 

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GA_RR said:
Pretty much any other option is going to be better than Honda financing....they are really tough of people. I own a home, a car, and have a pretty decent credit history but was still denied financing through Honda because my credit history isn't long enough at 25....
I'm not saying others haven't been able to get it younger than me but you've got to have straight A credit and proof of a well paying job.
honda is one of the hardest to get approved
 
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