best type of loan.
 

i am going to buy a bike. probobly an r6 or something along those lines. i am going to school full time now and need money to spend on my tools (for my job) and tuition. what would be the best type of loan? i really have no credit either. Thanks.

Re: best type of loan.
 

the mob

Re: best type of loan.
 

Rob a bank

Re: best type of loan.
 

totally a better idea i change my answer to that :y

Re: best type of loan.
 

I don't understand your train of thought here. You are going to school full time, have no credit but still want to get a loan for a bike that you probably cannot afford. Hmmm... Still don't get it.

How about you save for a bike then you don't have to worry about credit, a loan, or payments. Also its a 0% interest plan.

Re: best type of loan.
 

Dont buy things enless you have the money or it absolutely nessaserry keeps the phone from ringing ;)

Re: best type of loan.
 

This^ will put you right beside ososlowhatch IN JAIL

Re: best type of loan.
 

Probably cant afford a phone either.


Just wait till you graduate and get a good job, this idea might save you a life too

Re: best type of loan.
 

Get a loan, buy drugs, sell drugs at premium, pay back the loan, repeat sans loan. You have now doubled your money. :y

Re: best type of loan.
 

do what i did. go to college but sell weed to pay for it. its the american way.

Re: best type of loan.
 

i make enough money for a college student. and i want to build credit anyways.

Re: best type of loan.
 

Not a smart idea.

Re: best type of loan.
 

lmao @ thread

Re: best type of loan.
 

30% intrest $400 payments on a 8k bike

Re: best type of loan.
 

seriously...i always laugh at those places that say "we finance anyone!!!"

Re: best type of loan.
 

Save your money for now, buy a cheap bike and save for the r1. Being in debt sucks.

Re: best type of loan.
 

yea if u wanna build your credit, get a credit card and maintain payments on time and such for a while. That will def help ur credit, and in the meantime, do as everyone else says, save your money and buy a bike after u save money n build your credit...

and yes, i jus recently got out of serious debt i was in for like a lil over 2 years and it is the worst feeling ever

Re: best type of loan.
 

yea, i do hate the feeling of low amounts of money in the bank. and i doubt payments would reach 400. friend bought an r6 a while ago and pays 160/mo.

Re: best type of loan.
 

think about it, do you really need a brand new r6? why not save some cash and get an older one?

you'll seriously have just as much fun on a older, maybe shittier, slower, uglier bike. and won't get it repo'd

Re: best type of loan.
 

i have too shitty credit to get financed even by those we finance anybody places.....

Re: best type of loan.
 

Even if you have decent credit, banks still look at your job status, income, paystubs, account balance all of that ----. Best thing to do is save up and get a mid 90s YZF or Ninja or something. You'll have just as much fun, and wont get ---- repoed like everyone else is saying.

Re: best type of loan.
 

It sucks alot :(

Re: best type of loan.
 

Your choice of the R1 sucks.

Re: best type of loan.
 

He never said he wanted an R1. dumb sinister dan thought he said R1 too, but he actually said he wanted an R6. which is even suckier

Re: best type of loan.
 

you guys must be on crack, both the r1 and r6 are great bikes.
r6 is basically a factory race bike

Re: best type of loan.
 

Which is why he shouldn't get it, why do most people die when they are learning to ride a bike? Timing, they can't react to inputs fast enough. So a bike with a steep rake and very peaky motor isn't the best idea for a beginner.

But the R1 is absolutely amazing.

Re: best type of loan.
 

Save some cash and buy a used bike. You will thank yourself later

Re: best type of loan.
 

buy my bike.. ah like everybody else is saying, buy a used bike... check out craigslist

Re: best type of loan.
 

A loan on a "sport bike" is going to give you a pretty shitty interest rate. Yeah, the payments might only be $160/month, but it will take 8 years to pay off. :3 I've been paying on my bike since 2002 and I still owe $3200. :1 I pay about $52/month in interest on it alone. Is that really something you want? I have a very steady job, make decent money and don't have schooling to pay for and I still wouldn't do it...again. :1


Buy an older bike. Save your cash. If you can't afford an older bike...what amkes you think you can afford a brand new one? What about gear and maintanance and gas and insurance, registration? How much is full coverage insurance for an R6? :S
__________________
Best Car Insurance | Auto Protection Today | FREE Trade-In Quote

Re: best type of loan.
 

the best type of loan is from your grandma who doesnt want you to pay interest...call her up

Re: best type of loan.
 

i have been riding bikes my whole life. from homemade 2.5hp briggs, to yz80's to my cr125r. i am not some kid who just buys a bike cause its cool.

Re: best type of loan.
 

and i have no car payment or any other type of payments. may be taking out a loan for school but it would be small because my tuition isnt bad. i make decent money where i work and i get around 35 hours a week at work and full time at school. i know life doesnt get any easier and i just want to get something i can look forward to riding. this thread wasnt about whether i should get an r6 or not, its what financial steps would be the best for me buying/owning one?

Re: best type of loan.
 

go to a credit union and see if they will even finance you

Re: best type of loan.
 

your donezo dude

good credit is how you get anything, decent credit will get you some things, no credit will get you an apartment and maybe a macys or bestbuy credit card. Unless you have a decent cosigner. otherwise, you can only dream about it for now

Sell weed dogg do it, don't get caught and keep you r ---- in a safe, good luck ;) j/p

Re: best type of loan.
 

"Hey, I really really want that. I'll just use my credit card."

Not worth it IMHO.

Re: best type of loan.
 

The best financial step for you to take at this point is to NOT buy it. It's your credit though. Don't worry, in 7 years you can have it removed from your credit report. Just be prepared to pay high interest rates for the next 7 years and try not to ---- anything else up in that time or it will only get worse.
__________________
Best Car Insurance | Auto Protection Today | FREE Trade-In Quote

Re: best type of loan.
 

loan would not be for the full 8k, or however much i get it for. i would pry have around 3k cash and take a loan out for the rest.

Re: best type of loan.
 

Borrowing money is addictive. It allows you to get what you what when you want it. That sounds like a good thing, but you have to remember that it's not YOURS. Waiting for 'stuff' will teach you to save your money, and spend more carefully. I at a point where I also want a bike, but I'll probably wait another year.

Re: best type of loan.
 

Still.....not much of a difference. I bought my bike for $6500 with tax and bullshit. 5 years later I still owe more than half of that. :P

When I went to buy another bike I had cash to put down and they said money down didn't matter. It's a -0- down type of thing and if you want to "put money down" you can just make a really big first payment. I really didn't understand why, but whatever. :l

I'm not sure what kind of a loan you're thinking about getting for this? You're not just going to walk into a bank and ask for a personal loan of $5000 with no credit or equity. Chances are the bike dealer is going to have their select couple of finance companies(Most likely GE money bank or HSBC)and the "loan" you're getting is going to be a credit card type of loan. It's revolving, meaning they ---- you in the ass on interest. I got 0% interest for 6 months and 19% for the rest of my life and I had perfect credit at the time. :l
__________________
Best Car Insurance | Auto Protection Today | FREE Trade-In Quote

Re: best type of loan.
 

word. It pisses me off how banks call people who purchase homes "homeowners" 98% of them.. dont own the home.. the bank does.. and they make up this profitable scheme called "credit" to make people believe that they are worth something. When probably 85% of them live paycheck to paycheck.