Motorcycle loan help

[Wurm]

Im trying to buy a 02 Honda CBR600 for $2500

Im having a hard time getting a loan for that amount. I think my credit score is a 611

any suggestions

[Extrememustang]

Who all have you tried? When I got my bike for 6k I went thru household bank retail service and when I got my 3000gt I went thru wachovia. All in 3 months of each other

[Wurm]

Who all have you tried? When I got my bike for 6k I went thru household bank retail service and when I got my 3000gt I went thru wachovia. All in 3 months of each other
I have tried bank of america for a personal loan, lending tree, credit.com

I think that is all as of now

[Extrememustang]

boa doesnt really do car loans they give u a credit card I think.

[chevyman95]

go to a local community bank. I know the bank my wife works at gives out small loans like candy.

[Extrememustang]

Which bank is that?

[GIXXERDK]

For the major banks I believe the amount has to be a certain amount. Like Wachovias recreational loan was like 8 or 9 grand. Try Wells Fargo or even a student loan.

[iloveboost]

boa doesnt really do car loans they give u a credit card I think.
I got my Corvette financed thru them with a great interest rate.

[Julio]

Ill finance, 100% interest though. within 60 days.

[Wurm]

Ill finance, 100% interest though. within 60 days.
lol damn loan shark

[Julio]

Im trying to buy a 02 Honda CBR600 for $2500

Im having a hard time getting a loan for that amount. I think my credit score is a 611

any suggestions


But seriously bro... just save the money.. I know I know... the bike may sell while you save.

Oh well, that will teach you a lesson to have some cheese in the bank.


But seriously, I would save the money and another one will come around...

[Wurm]

But seriously bro... just save the money.. I know I know... the bike may sell while you save.

Oh well, that will teach you a lesson to have some cheese in the bank.


But seriously, I would save the money and another one will come around...

yeah i just really wanted to let it help build my credit. I have paid cash for every car i own so im not building any credit by making a car payment

[gobraves00]

why have they told you that they are denying you the loan?is it your credit score, or is the bike not worth the loan amount?

[ueyedgr8tness]

Good point!!! ok here the deal the ladie at my bank got me my bike last yr thrue a personal loan in nov i got 5k from wachovia with my bro co signer.


Now 4 months later i got back to the bank and get a 14k loan on my car in my name and she said my credit score was a 626 but i have no late payments are anything else thats bad on my credit report.

The simple trick is to get 2 cc and dont use but mabye half a month like i did and pat if off every month thats how i got my score going and of course talking real nice to the bank ladie and she just flat out told me if they approve u for 5k i will overide and get u the money u need for your car:D

Now thats called noing your banker:yes:

[Wurm]

why have they told you that they are denying you the loan?is it your credit score, or is the bike not worth the loan amount?
yeah i have a low credit score 615

[ueyedgr8tness]

Hye man i might be able to help u out if u dont have a big score just as long as u dont got alot of laypayments and bs.

[Extrememustang]

Man mine was 793, then divorce and now its 591. :( I want another bike sooo bad. All I have is a truck payments of 591 a month and a credit card.

[Wurm]

Hye man i might be able to help u out if u dont have a big score just as long as u dont got alot of laypayments and bs.
I dont have any recent late payments i just have 2 charge off's from 4 years ago. 3 more years and they will drop off my report

[ueyedgr8tness]

Well pm me when u get a chance tommorow and ima hook u up with my boy he might be able to get u a loan were he works.

[Extrememustang]

Man I had a charge off from like 3 years ago that wasnt mine and I tried to dipute it and somehow it was still verfied and now I think the date updated so it looks like a charge off from 3 months ago.

[Wurm]

Id put both my 240's and the bike title up as collateral(sp?)

[ueyedgr8tness]

Just be sure u hit me up tommorow on my Pm and ill have u call him and talk to him.

[Wurm]

alright

[gobraves00]

alright, credit is trickier than you giys are making it to be. yeah your credit score is important but the length of your credit history is more important. step into the lenders shoes for a minute and pretend you are being asked for the 5k, i wanna make sure this person is worthy of paying it back by looking at his history.if you have a credit card for the last 5 years with no late payments, awesome.if you have a credit card with no late payments for only 1 year that dont say much becasue the laon is gonna be for probably 5 years. also they look at your debt to income ratio. they take your monthly income then deduct all your monthly expenses(dont lie cause your credit report shows what your monthly bill is for all your payment plan accounts) though u can fib about rent and utilities in most cases) once they deduct all your expenditures they see what money you have left over and if they think its feesible for you to afford the laon. also you could have great credit that is well established but if you owe more money to debters than you make then you debt to income ratio will be to high and you will be considered a risk. try eloans.com or lendingtree.com, you will get offers from somebody on there for sure, it might not be the interest rate you are wanting, but there will be someone that will be willing to take the risk, good luck

[Wurm]

alright, credit is trickier than you giys are making it to be. yeah your credit score is important but the length of your credit history is more important. step into the lenders shoes for a minute and pretend you are being asked for the 5k, i wanna make sure this person is worthy of paying it back by looking at his history.if you have a credit card for the last 5 years with no late payments, awesome.if you have a credit card with no late payments for only 1 year that dont say much becasue the laon is gonna be for probably 5 years. also they look at your debt to income ratio. they take your monthly income then deduct all your monthly expenses(dont lie cause your credit report shows what your monthly bill is for all your payment plan accounts) though u can fib about rent and utilities in most cases) once they deduct all your expenditures they see what money you have left over and if they think its feesible for you to afford the laon. also you could have great credit that is well established but if you owe more money to debters than you make then you debt to income ratio will be to high and you will be considered a risk. try eloans.com or lendingtree.com, you will get offers from somebody on there for sure, it might not be the interest rate you are wanting, but there will be someone that will be willing to take the risk, good luck


I make about 1550 after taxes a month

all my bills added up is about $550

take away 400 for misc bullshit all month and i have 600 bucks to spare

payment on 2500 loan for 2 year will be roughly 150 bucks

[Julio]

Good point!!! ok here the deal the ladie at my bank got me my bike last yr thrue a personal loan in nov i got 5k from wachovia with my bro co signer.


Now 4 months later i got back to the bank and get a 14k loan on my car in my name and she said my credit score was a 626 but i have no late payments are anything else thats bad on my credit report.

The simple trick is to get 2 cc and dont use but mabye half a month like i did and pat if off every month thats how i got my score going and of course talking real nice to the bank ladie and she just flat out told me if they approve u for 5k i will overide and get u the money u need for your car:D

Now thats called noing your banker:yes:



bhwhahaha bullshit knowing your banker... "almost" anyone with a 620+ score can get a loan..
Im not even going to ask your interest rate,,, I'm willing to bet is high as fuc*... of course you wont say that though...

hahaha knowing your banker my ass....


WURM.. the biggest problem is most bank wont lend $$$ for shit 5+ years or older.. and believe it or not I bet you can get a 5000 K loan easier then a 2500.. just keep looking.. year your credit score is POOR, but you will find loan companies out there.. only with high interest rates...

[Wurm]

bhwhahaha bullshit knowing your banker... "almost" anyone with a 620+ score can get a loan..
Im not even going to ask your interest rate,,, I'm willing to bet is high as fuc*... of course you wont say that though...

hahaha knowing your banker my ass....


WURM.. the biggest problem is most bank wont lend $$$ for shit 5+ years or older.. and believe it or not I bet you can get a 5000 K loan easier then a 2500.. just keep looking.. year your credit score is POOR, but you will find loan companies out there.. only with high interest rates...

YEah i have recent activity like dell and 2 small credit cards but i will keep looking

[gobraves00]

lendingtree.com
its one application, and it goes to all loan establishments
then they contact you with and email or they call you
its really easy.
also remember, if you have your credit checked to many times it can hurt your score as well.so once you have it checked by a few people, i would suggest making sure you get the loan before the months up and the credit bureaus post your new credit score

[Julio]

I know a company.. but they charge 59 % interest.. but if you want the money bad enough......... Unless you pay that shit of with the quickness and before 2 years.

[tony]

You know whats interesting? You could probably get a $120,000 mortgage faster than that $2500 loan. Are you making a down payment? That may help

[preferredduck]

611 score should get you financed. have you had any credit at all. open trade lines. i do mortgages and used to sell cars. a 611 score gets u 100% on a house all day long. maybe check your debt to income ratio. thats the biggest thing a lender looks at.

[preferredduck]

lendingtree.com
its one application, and it goes to all loan establishments
then they contact you with and email or they call you
its really easy.
also remember, if you have your credit checked to many times it can hurt your score as well.so once you have it checked by a few people, i would suggest making sure you get the loan before the months up and the credit bureaus post your new credit score

do not do this. your credit will be pulled like 6 times which will lower your score, seen it happen trying to get someone a house. they had like 11 pulls in 4 days from those guys.

[preferredduck]

^^^ they give you a ten day period to pull without hurting that bad, but it has to be related, ie bank. other bank, auto loan etc...