Hello this post is to anyone who thinks they can help me out. I am 20 and I have no credit. I'm having problems getting financed. I'm going to get a 08 hayabusa and am offering more than 50% down of the $12,000. I have had the same steady job for four years now along with steady housing but I cant seem to find anyone to finance me. I have tried a few co signers but I just don't have anyone with great credit. I have applied though suzuki with co signers and many other places by myself. As you can tell I have gotten nowhere. So if your in the money business shoot me a PM if you think you can help.

 

with a co-signer u should b able to buy just about anything from sunrise or cycle world

 

I take it you have dealt with them before? because I have been going through ultimate cycle here in richmond and sometimes I wonder if they are even trying

 

www.helpmeride.com

 

Does that even work? Sounds/looks sketchy.

 

couple options/thoughts


-start buildiing your credit ASAP or find a cosigner or try a credit union which are more lenient.

-It's not worth paying over 20% interest if you find a sketchy place to finance you.

-use the $6k you have to buy a really nice lightly used bike and learn to ride in the meantime

-Have you checked out insurance yet? Bad/no credit, 20 years old, new rider, and you'll be paying out the ass if you can find anyplace that will insure you. If you finance at a traditional place you will have to have full coverage

-Credit standards have been tightened up lately and many places view bikes as a luxury/toy thus are at higher rates and harder to get.....ie I could finance a $25k car on a small income at a good rate but was turned down for financing $6k of a $9k bike with average credit


what is your credit score?

 

Hey guys im not a new rider and I am aware of ways to build credit. I am doing so but its going to take a while. I cant really find a decently used bike for a good price anyway and if im going to spend 8k on a busa with 10k miles might as well just put another 3 into it to get a brand new bike. I was just putting a shot out in the dark to see if anyone else has had any experience with any lenders who have financed them in somewhat the same situation. btw credit score is in the mid 500s

 

mid 500s? You need to work on your credit badly. Clean up whatever delinquent accounts you have. Pay down your revolving credit line below 20% of the high.

 

Whoa you need to be in the high 600's for most places to even look at you. That is just way to low your Co-Signer would have to have 750+ credit rating to help you out. I would keep searching for a good used bike and learn to ride. You say your a new rider would you rather drop a 3-4K dollar bike or a brand new 12K dollar bike that you will still have a payment for and nothing to show for it. There are 2 types of riders ones that have went down and those that are going which type are you ?

 

Have you looked into the insurance yet? Your age + bike=?