Re: Bike Loan Question?
 

just buy it on his credit card...not that tough

Re: Bike Loan Question?
 

go to e-loan. got mine for 10k at 12.5% for a used bike. they never called the employer or asked for stubs either. just have him make up somethin like he did in the past.

Re: Bike Loan Question?
 

i got my loan from prosper . com. they didnt ask for work verification. it's a P2P lending website, kinda like ebay. u make an ad, list how much u want to borrow, list the maximum interest rate ur willing to pay, explain how much u make, ur bills, how u plan on paying it back, etc, etc and wait until enough people fund ur loan. they donate from $50 to hundreds of dollars towards ur loan. its' really cool but it takes time to get the funds together and thats if u put a good loan ad up. otherwise not enough people may fund it. if an overabundance of people fund it then they have to lower their interest rate to get in as a lender, which will benefit u as the borrower. i got mine for $9500; i'd requested 10% as my max but lender bids lowered it to 9.5%, which was way better than the 18% the damn dealer had offered.

Re: Bike Loan Question?
 

Dealers are bitches. i didnt get my loan for a used bike because i havent worked a FULLTIME job for more then two years. i work two part time jobs that acrue me ~50 hours and the didnt care. paystubs and all. i was approved for a new 06 gixxer but instead i waited and baught my 04 f4i with 4200 miles for $4000. Sure it was salvaged but there were only minor roadrash on lft fairing and the tail was split from being 12'd. fiberglassed the tail and had a friend with a paint gun spray that an the fairings. then it passed salvage inspection. Easy as could be. the best salvaged bikes come out the first couple weeks of rinding season! be patient!!!

Re: Bike Loan Question?
 

[QUOTE=villa76;2587288]they never asked me for pay stubs just tell them ur self employed and shit..... But yeah u must have good credit[/QUOTE]

good credit is exactly what im missing:banghead , how do u build it back up????:shruggs

Re: Bike Loan Question?
 

credit is hard to build up once you ruin it, pay bills on time, and then just wait, over time your score builds up, if you pay 1 late payment, your score will drop dramatically, i late payment will drop it fast, a year of paying on time will raise it a little

Re: Bike Loan Question?
 

[QUOTE=boostnm3;2589469]credit is hard to build up once you ruin it, pay bills on time, and then just wait, over time your score builds up, if you pay 1 late payment, your score will drop dramatically, i late payment will drop it fast, a year of paying on time will raise it a little[/QUOTE]

thanx, damn, im not sure if its ruined but my nextel bill screwed me up. and my small credit card of 500$. im paying if off now

Re: Bike Loan Question?
 

[QUOTE=Trachito;2589246]i got my loan from prosper . com. they didnt ask for work verification. it's a P2P lending website, kinda like ebay. [/QUOTE]

wow. thats amazing, i didnt know they have things like that.

I'm set with my 1% interest plus prime student line of credit, but it's good to know for the future.

Re: Bike Loan Question?
 

I got my f4i with a cash advanced on my captial one credit card ($15g limit).... Now I make payments to my credit card interest is 9.5%

Re: Bike Loan Question?
 

i buy all my bikes with cash, :LOL
you guys are crazy to finance bikes when you know what youre gonna do with em :YEAH

Re: Bike Loan Question?
 

[QUOTE=CarpeDiem;2589589]wow. thats amazing, i didnt know they have things like that.

I'm set with my 1% interest plus prime student line of credit, but it's good to know for the future.[/QUOTE]

yeh i just signed up for it as soon as i read the post
[url]www.prosper.com[/url] is good:YEAH

Re: Bike Loan Question?
 

[QUOTE=aw0n0;2589620]i buy all my bikes with cash, :LOL
you guys are crazy to finance bikes when you know what youre gonna do with em :YEAH[/QUOTE]

[SIZE="7"]+1[/SIZE]need u say more??

Re: Bike Loan Question?
 

[QUOTE=aw0n0;2589620]i buy all my bikes with cash, :LOL
you guys are crazy to finance bikes when you know what youre gonna do with em :YEAH[/QUOTE]

haha.. true.

I try to buy $6k used bikes and make em last 2 years. I assume I will wreck it and have no re-sale value. So in my mind I am ahead of the game because I haven't written one off [b]yet[/b]. But I finance em, only way to ride while im still in school.

Re: Bike Loan Question?
 

one of the few things I'm proud of is that I bought my bike cash.. my girl went to her credit union and got 4% on a new RR.. fkn crazy!

Re: Bike Loan Question?
 

yeah i dont see how you guys charge a bike or take out a loan. i paid for mine cash, always have. i hate making payments. plus i cant stand to let a bank make money off me on a bike

Re: Bike Loan Question?
 

When i first got my bike i had to take out a loan it was either that or not ride for a whole season while savnig up money. I would rather finance and ride then not ride at all. Since payed the bike off, but financing was well worth the interest paid over a the year i financed. My suggestion is save as much money as you can, put down some cash and use the honda card for the rest. Dealerships love it when they get a little cash they'll probably even knock a little off the price.

Re: Bike Loan Question?
 

Id tell him to get off his ass and get a j-o-b. If he aint got a couple bucks for a down payment, he cant afford a bike, much less the parts he will need to fix it. "Live within your means". Sounds like the type my hard earned tax dollars support. Moochin rides and "a couple bucks" here and there while he has a 10K bike sittin in the garage with bald tires and no gas. Ive had these "friends" in the past. Ditch them now before they owe you money and avoid you anyway. Im not sayin this is your boy but this se nario sounds familliar to me. Ive had plenty of dead beat friends that i got sick of carrying because I go to work everyday and they sit on there ass playin video games because they think there "too good" to take and entry level job, and "somethin will come around"

Re: Bike Loan Question?
 

[quote=GAMstunts;2591188]Ive had plenty of dead beat friends that i got sick of carrying because I go to work everyday and they sit on there ass playin video games because they think there "too good" to take and entry level job, and "somethin will come around"[/quote]

i hear that, man. they just sit at home and smoke weed all day. hate that, hate it, i say!!

Re: Bike Loan Question?
 

[quote=Burial87;2589541]thanx, damn, im not sure if its ruined but my nextel bill screwed me up. and my small credit card of 500$. im paying if off now[/quote]

i've done a ton of research on repairing credit. the main thing to remember is credit repair lawyers or agencies are the biggest fraud. i learned that the hard way (long story). they won't help u in any way, unless ur filing for bankruptcy. otherwise, do NOT hire them. u have to do it urself over time. anyway, my credit is great now. credit cards aren't really the way to go. they add interest at a very fast rate in comparison to a loan and minimum payments make it so u can't pay them off quickly. in fact, minimum payments on some credit cards are so low, it could easily take WELL over 10 years to pay them off. the more credit cards u have open the worse ur off, too, even if they dont have balances. its best to just get one or two with reasonable rates like 1,500 or less. it's also bad to constantly apply for credit so dont apply for them even if they offer u a discount on ur purchase at a store. i'd say take out small loans, one at a time. ur interest may be pretty high but since they are small, it won't be a huge amount you'll have to come out of pocket. after u pay one off, finance another loan for a little bit more like a used car or a personal loan. maybe the first loan will be $1,500, then 3,000, then 5k, and so on. pay them off in a good amount of time and never have a late payment. and even if a payment is a day or two late, it won't go on ur credit that easily unless its common; plus u'll be payin a ton of late fees, which isnt worth it, so just pay on time. anyway, thats me. later fellas. i'm off to my part time gig... god, workin two jobs is startin to take it's toll...

Re: Bike Loan Question?
 

why doesnt your friend have a legit job? why doesnt he use his card? you said he's the don juan of perfect credit, why dont you co sign for him?

this just doesnt make any sense

he cant scrape together 4k and buy outright??