I want to buy a new bike but... my credit is bad
2007-10-11 15:48:49 · 13 answers · asked by ferdoh 1 in Cars & Transportation ➔ Motorcycles
Buy used. With cash.
Have fun with it while you fix your credit.
Then buy new.
2007-10-12 13:57:13 · answer #1 · answered by Firecracker . 7 · 0⤊ 0⤋
Assuming you're a new rider, my advice would be to find a good 'beater' that you can pay cash for, and aren't going to lose any sleep over WHEN - NOT IF... you dump it. Because you will, more than likely more than once ;) Not a dig on you... it's just part of the learning curve.
It's not hard to find a perfectly functional, safe, straight motorcycle that's discounted heavily due to purely cosmetic damage. If I were you, that's what I'd want. A well-running, straight-framed rat bike with a dented tank, missing or cracked fairings, scraped up windscreen & bar-ends... whatever drives the price down without affecting functionality!
Then - when you've got your time in on your beater - and have become a proficient and confident rider - get that nice new bike you've been eye'ing. But be warned... you may find that your beater is still more fun!
2007-10-12 04:01:31 · answer #2 · answered by Just Some Guy 3 · 1⤊ 0⤋
then you learned the lesson of credit. if you want to buy, you pay your bills.
till your credit is cleaned up, the only way is to save cash.
now if you save cash to buy a bike before cleaning up a credit report... then realize you are just repeating the same thing that didn't allow you to buy the bike in the first place by just a signature.
good credit or only cash... anything else and you are going to have a long, hard life.
2007-10-11 16:07:44 · answer #3 · answered by Anonymous · 0⤊ 1⤋
You might be SOL banks look at buying a motorcycle with bad credit as a rare thing. Banks see motorcycles unlike a car as a neccessity, you can NEED a car you can't NEED bike, you are going to have to find an excellent co-signer and get probably a 25% OR MORE down payment!
2007-10-11 22:28:44 · answer #4 · answered by !~!~!Adam!~!~ ! 1 · 0⤊ 1⤋
Well, you don't need a good credit to buy a bike. I saw one at the mall the other day. It only cost about $60. It doesn't need an insurance, and you can exercise when you ride it. Cool huh?
2007-10-11 15:54:38 · answer #5 · answered by Anonymous · 0⤊ 2⤋
I bought my first bike by carrying cash (US $) for the full amount. When they saw the cash, they didn't ask about my credit.
2007-10-12 07:58:15 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You can still get a loan with bad credit,
they will just charge a higher interest rate and fees.
2007-10-11 15:58:53 · answer #7 · answered by red riter 5 · 2⤊ 0⤋
Every dealership will be able to get you financing, as long as you can provide a pay stub from your job.
The interest will be killer, as compaired to a bank loan you would get on your own.
That's how they make money, by selling bikes.
They'll try their damnedest to get you financing, even if they have to lie on your loan application.
Ask a salesman at a dealership what they can do for you.
2007-10-11 16:03:56 · answer #8 · answered by guardrailjim 7 · 1⤊ 0⤋
go to your local harley dealer. they'll sell and finance a bike to anyone. how else do you explain all them harleys parked in the trailer park next to the 20 year old pickup truck?
2007-10-12 00:49:26 · answer #9 · answered by thelovebuzzard 4 · 0⤊ 0⤋
Unless you can find the cash or get a loan from family, you'll need a co-signer.
2007-10-11 15:52:34 · answer #10 · answered by Anonymous · 0⤊ 0⤋