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Discussion Starter #1
Hi guys,

Planning to buy 07 or newer bike, problem is I only have $3000 cash. My credit not so good, and I tried trough honda before but failed.

Do any of you ever tried to get loan from site sponsors?? (under motorcycles loans??)....do you think it's trust worthy?, any success??

example: abcmotorcycleloans, gimmearide??

I only have car as a collateral.

any help will be appreciated, :banghead:

Thanks
 

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find a local credit union.

they're better than banks, have lower interest rates, and with a $3k down payment, you're almost a shoe-in to get the loan.

Support CREDIT UNIONS, not Banks.
 

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There are companies that will finance you but you are going to pay way too much in interest. You may be better off finding an older bike and paying cash. You can find a great bike especially with the recession, and you have cash. Good luck!!
 

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I was in your same situation 4 years ago, not that I had bad credit, just very little.. had 4000 cash but decided to wait to just buy it outright.
 

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sorry to be a downer but it sounds like you aren't in a position to buy a bike. The way I look at it, bikes are toys and their is no way I would put myself in debt for a toy or worse yet use your only mode of transportation as collateral. Take your time and save up to buy it outright, you will appreciate it that much more and save yourself a good chunk of change.
 

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sorry to be a downer but it sounds like you aren't in a position to buy a bike. The way I look at it, bikes are toys and their is no way I would put myself in debt for a toy or worse yet use your only mode of transportation as collateral. Take your time and save up to buy it outright, you will appreciate it that much more and save yourself a good chunk of change.
that is solid advice right there
 

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Discussion Starter #7
thanks for the replies.

I am thinking getting any kind of loan also to rebuild my credit, that's why it looks interesting. also I actually have 4 vehicles, but want to use only my car as collateral lol.
 

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Keep in mind if you have a loan out for the bike you will need full coverage insurance.
 

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thanks for the replies.

I am thinking getting any kind of loan also to rebuild my credit, that's why it looks interesting. also I actually have 4 vehicles, but want to use only my car as collateral lol.
:+1:eek:n everyones advice. But if you have 4 cars why not sell one of the ones your not driving and pay cash outright for a bike?? If your looking at 5k dollar bikes and show up with 45 nice crisp $100 bills most sellers will take it!!
 

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sorry to be a downer but it sounds like you aren't in a position to buy a bike. The way I look at it, bikes are toys and their is no way I would put myself in debt for a toy or worse yet use your only mode of transportation as collateral. Take your time and save up to buy it outright, you will appreciate it that much more and save yourself a good chunk of change.
I agree completely.
 

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Also you will need to budget $500-1000 at least for the proper riding gear on top of insurance and the cost of the bike.

That's very true. If you get it from a stealership both times I've bought from them I had them throw in a good helmet as past of the deal. They've never thought twice about it.

At the VERY minimum you should also get a good jacket and gloves. You can't afford not to have them :shakehand
 

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find a local credit union.

they're better than banks, have lower interest rates, and with a $3k down payment, you're almost a shoe-in to get the loan.

Support CREDIT UNIONS, not Banks.
credit union all the way. I got approved for my loan and I'm 19 and had no real credit history :-D :shakehand
 
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