Due to life's little twists and turns I have found myself broke and out of options. So I want at least the satisfaction a motorcycle can bring. I have terrible credit now (THANKS A LOT EX) so is there any hope of financing a bike??
2007-12-12 09:56:37 · 8 answers · asked by Michael C 2 in Cars & Transportation ➔ Motorcycles
Get your credit clean before trying this.
Buy used and pay cash in the meantime.
My ex and her lawyer managed to get the Court to order me to sell my house. The house I bought alone, 2 years AFTER the divorce. It made no difference that she had already gotten everything else.
A piece of advice: wait until she's dead to re-marry.
2007-12-12 11:08:11 · answer #1 · answered by Firecracker . 7 · 2⤊ 0⤋
I was told many years ago that buying a motorcycle with bad credit was much more difficult than buying a car or house with bad credit.
In order to make such a purchase you are probably going to have to fork over a substantial down payment in order to get any financing. I know HD credit often requires 10% down unless you have stellar credit. Your best bet is to start saving while you decide what kind of bike you want to buy.
Also, shop around lending institutions. You may find one place tells you "No way!" but another place is willing to work with you. Just make sure you don't get pegged with a huge interest rate.
2007-12-12 14:41:48 · answer #2 · answered by skh1972 3 · 0⤊ 0⤋
before the credit crunch, Harley's finance dept was giving loans to every dirtbag that came through the door. Now that those loans are failing as a result of late and non-payers, its become more difficult to get a loan. It takes a real lot of work to screw your credit up so if you can't get a loan for one, perhaps a Harley is not for you.
2007-12-14 05:18:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Interest rates on motorcycle loans are higher than cars, because motorcycles are a luxury, like a boat or a trailer. Having poor credit on top of that means exhorbitant interest rates, like 24%!
2007-12-13 07:08:18 · answer #4 · answered by Anonymous · 0⤊ 1⤋
how do i spell relief? D-I-V-O-R-C-E! lol! yeah, i was in the same boat a while back, but h-d's finance department loaned me money for a new sportster just three years after bankruptcy. i dont know what my credit score was at the time, but it musta been low-low, knowwhaddimean? go talk to the credit guy at your local dealership and find out what it'll take. bottom line: they WANT your money!
2007-12-13 04:52:12 · answer #5 · answered by skullbikemike 3 · 0⤊ 1⤋
check with the bank you do your checking and savings with. mine charges the same for cycles as they do for cars. not all do though. but your bank will have better rates than any dealer will get you.
2007-12-15 10:30:21 · answer #6 · answered by viking 3 · 0⤊ 0⤋
why not find a cheap used bike, ( not a HD ) used HD's are too expensive!
how about a used 98 to 03 Yamaha V Star 1100?, or a older Suzuki Intruder? huh? you can find those bikes cheap, and they are just as fast, or faster than any HD
most people that never owned a bike couldn't tell the difference between them and a HD
2007-12-12 10:27:32 · answer #7 · answered by Anonymous · 1⤊ 6⤋
don't do it. you will be worse off.
2007-12-12 10:08:25 · answer #8 · answered by Anonymous · 1⤊ 0⤋