im haveing a hard time getting financed for a bike because my credit score is a 540...any suggestions

 

save money instead.

 

well yeah im working on that

 

save up some more and do a lot of looking around. You should be able to pick up a mechanically sound bike for $2.5k and possibly less

as for the credit.....they seem to be harder on credit when it comes to bikes than cars. Look up what you can do in the short term to boost your credit because you'd probably need to be in the 600's to get financed at a high interest rate. If you get the deluxe credit report for equifax it has a scenario tool where it will estimate what your credit score would be if you did numerous different thing. In my case it was better to actually keep paying on a low interest card and loan rather than just pay it off. It sucked to know that I could pay them off but it helped my credit out a lot more to keep making payments and racking up the 9% interest

 

Also, credit unions tend to be easier to get loans through.. especially if you've been a member for several years. I've been with one particular credit union since I was born, literally. I needed a few bucks at one point in time and didn't have enough established credit to get what I needed at a bank... Went to the credit union, filled out an app, and the next morning they called me to pick up a big check.

 

ok thanks