I own my home ,but do not have a high credit score,do you know of any

Credit and mortgage advice Forums Consumer Credit Improving Your Credit Score I own my home ,but do not have a high credit score,do you know of any

This topic contains 6 replies, has 7 voices, and was last updated by  Anonymous 7 years, 11 months ago.



  • Author
    Posts
  • #205816

    Anonymous

    motorcycle dealer that would give me c I can afford 200 dollars for a monthly payment.
    MY HOMES WERE JUST APPRAISED AT 899 THOU) AND THE OTHER 750 THOU) I DONT NEED A MOTORCYCLE THATS IS SHARP ENOUGH FOR A CONTEST.JUST ONE TO CRUISE,I HAVE A YAMAHA 1500 BUT BOUGHT IT WITH A GAS LEAK (DEALER IN ECHO PARK) TOOK IT BACK 4 TIMES IT FINALLY CAUGHT ON FIRE.ITS IN TH GARAGE MCOVERED AS IF IT WERE DEAD.ITS SAD ,REAL NICE BIKE.
    MY HOMES WERE JUST APPRAISED AT 899 THOU) AND THE OTHER 750 THOU) I DONT NEED A MOTORCYCLE THATS IS SHARP ENOUGH FOR A CONTEST.JUST ONE TO CRUISE,I HAVE A YAMAHA 1500 BUT BOUGHT IT WITH A GAS LEAK (DEALER IN ECHO PARK) TOOK IT BACK 4 TIMES IT FINALLY CAUGHT ON FIRE.ITS IN TH GARAGE MCOVERED AS IF IT WERE DEAD.ITS SAD ,REAL NICE BIKE.



  • #263174

    Anonymous

    If you can afford a house that costs $899,000 why wouldn’t you just buy a bike outright? If not you should be able to get an equity loan with no problem.

  • #270874

    Anonymous

    You will get credit, possibly at a higher interest rate than if your credit score was higher.

  • #274324

    Anonymous

    Hey Man, DO NOT GET A DEALER TO SET UP FINANCING!!!Some dealers are known for doing , well,lets say you tell the dealer you can afford $200 a mo. They check out int. rates with your down pymt and it comes to ,say $185 a mo. They then come out and say they got you a deal for $225 a mo. They have added $40 a mo to your pymt. They then try to reel ya in by saying that your income will go up over the next couple yrs and therefore you can handle the extra $40 a mo. This is how they get extra money out of ya and the contract looks legit as they have “cooked the book” on financing. So ,I recommend ya go to a credit union or bank and arrange your own financing aqnd they will give you an idea of what ya can get,price wise and yr. Reason I know what some dealerships do is I got a job at a dealership and this is what they said for me to do. Thus increasing both profit for the dealer and a better “kickback” for the salesman. Also they try to get you to get a home equity line of credit so that if something happens they can take your house. Now look for a HarleyDavidson, why, cause 2 things you can buy and 20 yrs later get your money back. One is a John Deere tractor and the other is a Harley. Make sure it says Harley on the title and its not a “builder bike”or something with a “salvage title” Good Luck! Hope to see ya on the road someday

  • #275731

    Anonymous

    Depends on what you are looking for. I might build you a bike but i need the deed to your house and an apraisal for colateral.

  • #279480

    Anonymous

    Think this over before rushing in. When you say you have $200.00 for your payment, have you considered insurance? You will be paying not only liability, but comprehensive (fire, theft and collision) with the lender (Bank, Credit Union, Finance Company, …) as the payee until you have paid off your loan. In some markets the insurance can be more than the payments. How much down payment do you have? If the insurance obstacle is out of the way and the down payment is high enough, for enough interest someone will be happy to take your paper (loan), but interest on a poor credit risk with a low down payment is going to be astronomical.
    So many things affect this type of purchase, the results are impossible to calculate. You will need to figure in insurance cost, down payment, new or used, type of motorcycle (well kept HD 3-5 years old will probably be considered, while a 20 year old Kawasaki enduro wouldn’t be (although you could probably buy that one outright for less than $200.00)
    Do you have enough equity to refinance the house and buy the motorcycle outright?
    All told, too many unknown variables. You need to provide a lot more financial information than I would trust to an unsecured site. Best bet. find a small shop that does repair work only and ask him your questions. Be sure to buy something, noone works for free except us webnuts.

  • #283515

    Anonymous

    Find a bank or better yet a credit union if you are eligible to join one. They will authorize you a loan up to a certain amount, (don’t forget that you will need to pay ins.) at an interest rate that probably won’t be as good as it otherwise could be but still better than the dealer. They may even give you a small home equity loan instead of a motorcycle loan, which should have a better rate. Then go to the bike dealer and haggle with them, don’t tell them you already have financing. When you settle on a price then hit them with your certified check from the bank, and ride off into the sunset.

You must be logged in to reply to this topic.

Register New Account
Reset Password