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Well im wanting to get a bike and i was thinking about a 6r but before i try i had a couple questions. I have had a couple credit cards and a personal loan out for 6 months now and i finally have good credit. My significant other has fair credit. My question are what manufacturer has the easiest finance company to get approved for, and should i try by myself or co-sign for her. Any one been throught this or have any ideas? Thanks
 

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Originally posted by jab0600
Well im wanting to get a bike and i was thinking about a 6r but before i try i had a couple questions. I have had a couple credit cards and a personal loan out for 6 months now and i finally have good credit. My significant other has fair credit. My question are what manufacturer has the easiest finance company to get approved for, and should i try by myself or co-sign for her. Any one been throught this or have any ideas? Thanks
Someone correct me if I am wrong, but all of the credit card deals that they will try to sell you on will go through HSBC or GE Money. My advice would be to try alone first... with limited credit history tho you may be screwed. Bikes are not the easiest thing to get a loan for. Option 2 is a credit union or bank if you are denied.
 

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If you're not married to your signficant other I wouldn't recommend cosigning. Things may be great now but you just never know and a bike would be a great revenge tool. Try by yourself first. You might be surprised...
 

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Originally posted by Mirage



Someone correct me if I am wrong, but all of the credit card deals that they will try to sell you on will go through HSBC or GE Money. My advice would be to try alone first... with limited credit history tho you may be screwed. Bikes are not the easiest thing to get a loan for. Option 2 is a credit union or bank if you are denied.
That's my understanding as well. One bike won't be easier to finance than the other, besides price.
 

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Im not sure what bike would be the easiest to finace but I do know that a friend of mine got approved through Yamaha for a brand new at the time 05 R6 with only having a credit card for a couple years... So I'd say he had good credit but very limited... The way they do it is they finance using a credit card instead of a typical loan. In fact he actually has two seperate payments on his bike. They got him approved through two of their lenders to get the full amount needed for the bike. The advantage of this is he doesnt need to carry full coverage insurance during the off months and he was able to finance his gear and some initial mods with the bike from day one.... Good luck and ride safe bro... And check Kawi to see if they do the same typeof finacing..
 

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Not sure why one minute you are talking about a bike and the next talking about cosigning for her.

My suggestion would be never to cosign a loan, if anything happens it belongs to you. Second, think about buying a used bike, credit and loans are not some kind of magic potion that makes you richer, they are debt that makes you poorer.

The previous poster was talking about a borrower who was able to "not get full insurance and buy some bling" like it is a good idea. That is great until you wad the bike totally and then, without full coverage, you still owe all the money and have no more bike.
 

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Why don't you just save your money and pay CASH thats what I do for all my recreational purchases. If you can't save five or six grand you shouldn't get a loan IMO. Plus buying a new bike from the dealer is the stupidest thing to do, you buy it and leave the dealership now your $10,000 bike is worth 8,000. I have owned 12 bikes and never bought one new... buying late model low mileage used is the only way to go. And as for your credit 6 months is not long enough to establish credit you will be LUCKY to get approved for a car let alone a Bike it is so much harder to finance a bike because the bank knows it's not your everyday driver and you might let it go back easier. so good luck but I wouldn't waste my beacon score trying a loan yet because they will run your credit through a dozen banks trying to get an approval.
 

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I never, repeat NEVER finance any car/bike through the finance company the dealer tries to get me with or with credit cards. Credit cards are a nasty trap. Actually, I've never bought a bike from a dealer but I have bought cars from them. I have a very good relationship with my credit union and they offer pretty good rates and they will never turn me down because I set it up with my direct deposit so they automatically deduct my payments. So, I never miss a payment, my credit stays good. Basically, I just apply and am approved by the end of the day. I have a branch where I work so it's real sweet. If you can, try it this way. Good luck and don't settle for a bad deal.
Oh yea, it's always best to have your financing in place BEFORE you decide to go shopping, especially with a dealer. That way you know exactly what your payments will be and what you can afford.
 

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Some decent ideas, the credit card option they offer you at the dealer is a trap though. You don't get the title, and if you buy gear on top of that, even worse, then you also have to pay off all of that before you can get the title or sell it. Someone said if you cant save up 5 or 6 grand, then you shouldnt get a loan?? If you CAN save 5 or 6 grand, then why get a loan? The bike only cost 8 grand, yeah I get it, some ppl don't like to use credit cards, Great idea, but poor example. Get credit through a bank, preferably a credit union, shop around and try and get a good rate, if you have collatoral then even easier. If they won't approve you then you might as just accept it and wait. Don't cosign, especially with a GF, too many bad things can go wrong. If you crash it and end up owing money on a piece of metal, it's your and her credit that is on the line. Don't put a GF in that position or let her put you in a position the first arguement you have or if you ever break up.
 

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Discussion Starter #11
Ive only had it for 6 months but i do know my credit score is 682 and i wasnt sure if that would be good enough.
 

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Originally posted by cybereyes
Some decent ideas, the credit card option they offer you at the dealer is a trap though. You don't get the title, and if you buy gear on top of that, even worse, then you also have to pay off all of that before you can get the title or sell it. Someone said if you cant save up 5 or 6 grand, then you shouldnt get a loan?? If you CAN save 5 or 6 grand, then why get a loan? The bike only cost 8 grand, yeah I get it, some ppl don't like to use credit cards, Great idea, but poor example. Get credit through a bank, preferably a credit union, shop around and try and get a good rate, if you have collatoral then even easier. If they won't approve you then you might as just accept it and wait. Don't cosign, especially with a GF, too many bad things can go wrong. If you crash it and end up owing money on a piece of metal, it's your and her credit that is on the line. Don't put a GF in that position or let her put you in a position the first arguement you have or if you ever break up.
If you were compitent enough to READ you would understand what I meant about saving 5 or 6 grand, so here it is one more time try and follow... If someone isn't diciplined enough to save 5 or 6 grand then they surely shouldn't be trying to get a Loan for it. It's just like the kid that gets his first credit card and immedietly runs it up to it's max limit. Small priced recreational items should be purchased CASH unless you are getting a zero % financing deal or something.
I hope I elaborated in detail enough for you!
 

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Discussion Starter #13
I can save that amount, thats how i bought my first bike. Just takes quite a bit longer to do that when you have more bills now. Thats not a problem. I wouldnt be paying the min payment either. I want to get it paid off quickly.
 

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Originally posted by pablovelez



If you were compitent enough to READ you would understand what I meant about saving 5 or 6 grand, so here it is one more time try and follow... If someone isn't diciplined enough to save 5 or 6 grand then they surely shouldn't be trying to get a Loan for it. It's just like the kid that gets his first credit card and immedietly runs it up to it's max limit. Small priced recreational items should be purchased CASH unless you are getting a zero % financing deal or something.
I hope I elaborated in detail enough for you!
Why do you have to be diciplined and save to buy something recreational? I own two cars, and am about to move out. Not everyone has a high paying job, and anyone, yes anyone can save to pay cash, even me, for a motorcycle. But after my bills, saving that $500 dollars a month to wait for a motorcycle I can ride in 2 years just isn't reasonable, let alone any fun. And on the other hand, how many of you can save even $500 dollars a month, every month?

There isn't any problem with using credit, in fact, that's why it's there. You only need to be "diciplined" by paying your payments on time. There is no reason to critized people for using credit.
 

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Originally posted by pablovelez



If you were compitent enough to READ you would understand what I meant about saving 5 or 6 grand, so here it is one more time try and follow... If someone isn't diciplined enough to save 5 or 6 grand then they surely shouldn't be trying to get a Loan for it. It's just like the kid that gets his first credit card and immedietly runs it up to it's max limit. Small priced recreational items should be purchased CASH unless you are getting a zero % financing deal or something.
I hope I elaborated in detail enough for you!
Hey jerkoff, just because I didnt agree with you, doesnt mean you have to get an attitude. Don't act like you were specific either, because you weren't. YOU said if you can't save 5 or 6 thousand then you shouldnt get a credit card. Well honestly I maybe know 2 people who have 5 or 6 thousand saved up to just do whatever they want to with, so it's not to easy for most people. Most people who have enough disposable income to save 5 or 6 thousand dollars in a summer to buy a bike, dont need credit anyway. The guy wants to buy a bike for this summer, do you really think if he could save 5 or 6 thousand that he would be here asking about credit? How many people do you know that put 5 or 6 thousand down on their bike? Most of us finance, it's just a matter of how you finance, and a kawi credit card is a poor way to do it. Now if if you used a credit card with a fixed 7.9 then yeah, go ahead. Why don't you go back and read your own garbage. It sounded like a rich boys idea of how to not get in debt. This guy and most of us on here will have to finance our bikes, hearing some smartass go on about how you should save 3/4 of the bikes value or your too irresponsible to finance is not what he needs or asked for.
 

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Originally posted by jab0600
Ive only had it for 6 months but i do know my credit score is 682 and i wasnt sure if that would be good enough.
682 is not that bad, you should try at a credit union, but the more you can put down the better. There are other factors though than just your score, like how much credit you already have, which is your debt to income ratio, and how long you have had your credit. Past credit ect. Just apply and see how it goes. Don't do anything stupid though, the bike can wait if it means paying triple what it worth.
 

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Navy Federal financed my bike with 7% APR. I've only had a credit card for a few months so I don't have a lot of credit history. I know that lendingtree.com will pull your credit application and give it to many lenders Your pretty much guarenteed to find a lender with whatever credit history you have.
 

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Originally posted by pablovelez



If you were compitent enough to READ you would understand what I meant about saving 5 or 6 grand, so here it is one more time try and follow... If someone isn't diciplined enough to save 5 or 6 grand then they surely shouldn't be trying to get a Loan for it. It's just like the kid that gets his first credit card and immedietly runs it up to it's max limit. Small priced recreational items should be purchased CASH unless you are getting a zero % financing deal or something.
I hope I elaborated in detail enough for you!
Bro, sorry, but you are an ASSHOLE! Thx for playing Daddy here. I'm sorry, but I see some lame post on here, and I don't usually say anything, but, to you, I say, stay out of this, cause you are an ass! We dont really care if you bought all your bikes used, or you payed cash. Whoopdy fuckin-doo!
 

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Originally posted by deguirlinger
Navy Federal financed my bike with 7% APR. I've only had a credit card for a few months so I don't have a lot of credit history. I know that lendingtree.com will pull your credit application and give it to many lenders Your pretty much guarenteed to find a lender with whatever credit history you have.
It's a good idea, but at the same time, lendingtree's "guarantee" isn't so much of one.

I have been trying for several months to get credit, and absolutely nothing has worked, including lending tree. In fact, I remember that when I did a credit check with them, instead of them sending out my report, they immediatly denied me by e-mail.

It's been my experience ( although I haven't had a chance to try yet ), that the easiest way you can get a loan, is to sit down and talk to someone personally. These internet loans profile you, to where you can't have less than perfect scores and/or must have lengthy history's.
 

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you could have walked into a kawi shop and, let them run the info and had ur answer in about 10 minutes. they're not gonna bite ur head off if you dont get it and they're not gonna make you buy if you do get it. yes you will get a credit hit for the transaction but it aint bad. just do it, get a great intrest rate like a 2.9 for 3 years and pay it off in that time cause it will go up to like 17.9 after the promotion ends. bike brand is not gonna matter. your short credit history is what will matter. NEVER cosign. good luck.
 
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