I just wanted to know if i could financed for a motorcycle with a credit score of 615? I have a friend that wants to get a motorcycle with us to join our crew but his credit score is a 615. I told him it may be possible but i really dont know. He doesnt want to get his credit pulled if its impossible so could any one offer a hand of advice?
2007-08-07 11:30:00 · 4 answers · asked by Trey 1 in Business & Finance ➔ Credit
615 isn't too shabby. Unless his income to debt ratio is too high he shouldn't have a problem.
2007-08-07 11:41:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Rather than worry about his credit score being high enough, perhaps the real question should be "can he afford it"? If he wants a motorcycle, he should start saving and try to pay cash or at least come up with a nice big downpayment.
Expensive toys on credit is a pretty good way to burry yourself in debt.
2007-08-07 19:06:05 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
If he knows his score he shouldn't check it. Every time you check your score it lowers it a few points and he needs all he can get it sounds like. He should be able to get financing but his APR is going to suck bad. They will charge him out of his A**, and he will end up paying a fortune for the bike in the end. So whatever he is willing to do, he can, but he needs to make sure it is worth it to him.
2007-08-07 18:42:38 · answer #3 · answered by Anonymous · 0⤊ 1⤋
motorcycle payments are so cheap.
depending on his current monthly payments, he should be fine.
i just got my first bike, but i paid cash, but my credit for my car is about 630, and they approved me, so it isnt impossible.
i would worry more about which bike to get ; )
ride safe!
2007-08-07 19:50:32 · answer #4 · answered by Daniel 5 · 0⤊ 0⤋