i'm looking for a 600 VLX thru Honda and have a co-signer.
2006-12-10 17:22:58 · 6 answers · asked by Anonymous in Cars & Transportation ➔ Motorcycles
of course the cosigner knows the situation. i asked a question about financing, not my ethics.
2006-12-10 17:50:00 · update #1
Your best bet is to try your local credit union or bank. If your bankruptcy is recent then the lenders that the manufacturers use will most likely not finance you. The same is true about credit unions and banks. However, I have seen credit unions take a chance and finance a person with a bankruptcy.
2006-12-11 01:55:33 · answer #1 · answered by ...mr2fister... 7 · 1⤊ 0⤋
Sorry to state the obvious, but should you be looking to get back into debt after filing for bankruptcy? Also is your cosigner aware that you have filed for bankruptcy and they will be responsible for paying the entire debt if you do not? And why is it their responsibility to take on a major financial risk for you? Why not save up and just buy a used bike you can afford for cash?
That being said, I can't say I know of any lenders who specialize in lending to those with bankruptcy. Not making a moral judgment, it is just not the best business model****
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I would not and did not comment on your ethics, that is entirely for you to decide yourself. You said they are aware of the situation so if they want to help you out that is their decision and if you think it is fair and resonable to ask this person to take financial risk, and if they need to pay off this loan it will not be burden to them, then proceed. I have direct experience that the majority of non-user cosigners when contacted during or after the approval process were usually completely misguided regrading the situation.
I think your best bet is the dealer, they have the most financing sources available. You may have to put 20-50% as a down payment.
2006-12-11 01:42:52 · answer #2 · answered by Gatsby216 7 · 2⤊ 1⤋
You will pay 18% or more depending on the lender. You don't always need a co-signer for these loans, try first by your self.
Call the Honda dearler and ask about their three they use.
2006-12-11 12:43:47 · answer #3 · answered by Anonymous · 1⤊ 0⤋
There are some options for motorcycle financing with bad credit at:
http://www.motorcyclegiftshop.com/motorcycle_loans.html
2006-12-11 14:20:28 · answer #4 · answered by lepninja 5 · 1⤊ 0⤋
The local gang will help you. Ha!
2006-12-11 01:30:38 · answer #5 · answered by Anonymous · 0⤊ 1⤋
in your wallet.
2006-12-11 22:40:13 · answer #6 · answered by mxlj 5 · 0⤊ 1⤋