I'm 19 ... The problem isn't that I have bad credit ... It's that I have NO credit. I want to put a down payment on a street bike since I have grown up around bikes all my life and have taken all the safety classes. I do not know of anywhere to go to get a decent bike. I've seen on commercials all the time "No credit? Bad Credit" but it's all for cars ... Anyone know of a place that will allow me to get a bike with no credit. I've got the money but I don't want to pay for one in full. Thanks in advance!
2007-04-21 06:47:52 · 7 answers · asked by Chance H 1 in Business & Finance ➔ Credit
The best way to get credit is to get a credit card (you will get the minimum limits), and use it. But ONLY use it when you know you can pay back the FULL amount when the bill comes due. If you can't do this, you MUST make sure you can ALWAYS pay double the minimum monthly payment.
Last year, I bought plane tickets for several thousand dollars on my credit card, and paid the full amount when the bill came in. My credit rating dropped a lot soon after due to the sudden spending (a risky activity in the eyes of creditors), but after a few months, my rating shot way higher than ever, as I had never allowed credit debts to continue and had proven that I can be trusted with credit.
So you must be consistent, spend wisely, and BE PATIENT.
2007-04-21 06:53:51 · answer #1 · answered by Bill W 【ツ】 6 · 2⤊ 0⤋
Get a Rushcard at Rushcard.com it's free and it's prepaid so you add all the $ you need 2 when you want. There is only 2 fees- a 1x activation fee of$20 and if you don't use card in 3months they only charge you$3! It is a debit card so EVERY use builds your credit and in your situation it's perfect cause the company you intent to pay can't take what isn't there. You can load the bike payment only. Comes in 2 colors pink or black it is a "visa" you can use in ANY store, order from infomercials,catalogs,on-line and get direct deposit for your checks even government checks. It's great for building credit and prevents places from charging you 2much or in advance. Check it out. Good luck! Be safe on your bike ma
2007-04-24 18:33:33 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Well what I would suggest is that you go to the bike shops and fill out their application only if you have held your job for over a year. If not find someone who will co-sign for you.
If you have a bank you have banked at for a while they may be able to give you a loan.
Another thing you can do is apply for a credit card and make sure you always pay your bill. This will start your credit history.
Hope this helped you
2007-04-21 13:57:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Getting financed for "toys" is hard to do. simply because they are "toys" and not a "necessity" or a means to & from work.
Definition of Financing: Becoming obligated to something you can not afford.
the best thing for you to do (instead of going into debt that you cant afford) is save your money & buy one outright. OHH MY STARRRRSSS it would take you F-O-R-E-V-E-R to save that kind of money right? WRONG.
how much of a payment can you handle right now? $250/mo?
then save your $250/mo for 12mos & go get yourself a $3,000 used bike.
Besides if you get a BRAND NEW one, it will only LOSE value very quickly.
Bottom Line:
Go Used, Go Cash
p.p.s. Why do you want to finance if you have the cash at hand? Do you not realize the amount of money you will save by not paying Finance Charges?? Not to mention the unforeseeable. What if your life changes in 6, 12, 18mos & you cant keep up the payment? Then, you'll have stress over paying for this stupid thing that by now is well used, then you'll get BAD credit, possibly a repo, ya cant sell it without taking a HUGE loss because you borrowed all this $ on it only for it to drop in value as soon as you drove off the lot.
This is true for cars/trucks/vans, and ESPECIALLY true for "toys".
2007-04-21 14:03:05 · answer #4 · answered by Barefoot Betty 3 · 0⤊ 0⤋
take the $$$$$$ that u have in your hand go to the bank and open a secure credit card take that credit card go buy a bike ayr. later car .remember pay your bill on time
2007-04-21 14:32:45 · answer #5 · answered by helpme 2 · 0⤊ 0⤋
I don't know where to get a bike, but I do know a good way to get some credit. Use your debit card as a credit card, and voila! Keep going, and eventually you will build up good, but light, credit.
2007-04-21 13:52:49 · answer #6 · answered by saralizzy1981 3 · 1⤊ 0⤋
you need a cosigner
2007-04-21 13:50:28 · answer #7 · answered by Anonymous · 0⤊ 0⤋