I also can provide a down payment!
2007-11-18 15:04:12 · 10 answers · asked by Anonymous in Cars & Transportation ➔ Motorcycles
You can get one with no credit, you just have to pay cash.
The better your credit rating is the less you have to put down and get better interest rates.
The larger your down payment is that you have to work with, the more lenders are going to work with you because you have a bigger vested interest in the item you are buying. If they have to repo a bike that you owe more on than it is worth, they get burned. If there is some value in it and it is repo'd, they can get some of the loan repaid that way.
In the event that isn't an issue and you pay it off in good faith, your credit score goes up.
2007-11-18 15:12:18 · answer #1 · answered by fogtender 3 · 1⤊ 0⤋
No it is pretty tough to do that. Cash would be the best option. I would buy a used one anyway cause you can get them fairly cheap. At a dealership your gonna pay all the money . Even if you get a deal you can still buy a almost new used bike for less out in the General public.
If you still want to finance. Try going to your local credit union and try to get a loan through them they are usuall easier to deal with . If they still say no try to open a secured loan or credit card to get credit with them.Once you are in good standing they will usually give you loans. They may not give you a lot of money but its a start. Then you can buy from any one , dealer or private party. Plus get your score up as long as you dont have any late payments. I would also suggest you look at your credit and see what causing all the damage. Go get your free personal report from the GOV at Annual Credit Report. This is the only legit one that does not charge you. Only if you want to see your credit score.
2007-11-21 11:20:17 · answer #2 · answered by Andres C 2 · 0⤊ 1⤋
unless you buy a pretty small sport bike (i.e. a 250 or a 500), your insurance is going to cost you a lot more than you'll save in gas... Plus if you're financing the bike (the credit score question would point that direction), you'll need FULL comp and collision coverage. if you're really looking to save gas and money, get an older 500cc bike like a GS500 or an EX500, or even an old Seca II any new 600 cc sportbike is going to be a TON more to insure.
2016-05-24 03:30:38 · answer #3 · answered by ? 3 · 0⤊ 0⤋
Probably not man. I had a score of 705 and 4k for a down payment and they wouldn't give it to me back in the day.
I would recommend getting one used from someone in your area and buying it straight out. That way the insurance is easier to handle with liability only versus the full coverage which would be somewhere around 2500 or higher.
2007-11-18 16:34:55 · answer #4 · answered by tool_173 2 · 0⤊ 1⤋
552 is rated as fair. Should be ok if you make down and payments aren't too big.
2007-11-18 15:14:12 · answer #5 · answered by tronary 7 · 0⤊ 1⤋
It's better to buy an affordable used motorcycle from a private party.
2007-11-18 15:09:09 · answer #6 · answered by red riter 5 · 0⤊ 1⤋
Usually your interest are determined by your credit score. Talk to several dealers, because it can vary.
2007-11-20 01:33:15 · answer #7 · answered by hotvw1914cc 6 · 0⤊ 1⤋
buy a used one cash smart guy
2007-11-18 17:23:43 · answer #8 · answered by Anonymous · 0⤊ 1⤋
I would save up and pay cash .
2007-11-19 00:45:57 · answer #9 · answered by Jim K 3 · 0⤊ 1⤋
yeah, just pay cash, easy as pie...
2007-11-19 02:46:53 · answer #10 · answered by psychopiet 6 · 0⤊ 1⤋