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| *Vultures Knob>>>Sport Bike |
Getting approved for a sports bike? |
My credit score is 646. What are my chances of being approved for a sportsbike . I would take any but I really want a suzuki gixxer 600 Why is your credit score so low? Is it because you have shown poor judgement in managing your finances, or because you're 19? In either case, even with a low credit score your previous 80 months' payment history will be considered and you'll probably get stuck with an interest rate upwards of 21%. At that rate, you could buy a Ducati 999 with the money you'll lose in interest alone on a GSX-R! Another question- why do you want a Gixxer? Do you know how to ride? Do you perhaps have another bike to sell or trade as a down payment? Or do you only want a Gixxer as a piece of "butt jewelry"? Will you just be another squid, or will you wear full gear and take an MSF course? There are enough squids on the roads making us ALL look bad and raising insurance rates, we don't need another one. Speaking of insurance, if you're under 25 and have ANY tickets, plan on spending more for insurance per year than you pay for the bike. Seriously. I've heard stories of $5000 per YEAR premiums for young riders with a history of poor judgement. So ask yourself if the reality is REALLY worth your dreams of being Ben Spies. You will probably get approved but the interest rate is gonna be high. If you have a checking account go to the bank and apply for the loan through them. If you have good history with them they can and will work with you on interest rates. Save up for a large down payment or just pay cash. I have always just paid cash for my motorcycles and other toys. Your credit score isn't gonna help you with your insurance premium I would call on that first you might be VERY surprised. |
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