Buying a HD with not so good credit
Seasoned HDF Member
Joined: Mar 2008
Posts: 9,384
Likes: 1,776
From: Central Texas
If it wasn't for credit I would not have a dadgum thing.
More power to the people who can pay cash, but for a
comman working stiff like me I have to use credit.
Now here me well I am not bad mouthing the bigger moneyed
people, I am not a hater, but unless I want to wait till im old
and gray to enjoy life I have to use credit
More power to the people who can pay cash, but for a
comman working stiff like me I have to use credit.
Now here me well I am not bad mouthing the bigger moneyed
people, I am not a hater, but unless I want to wait till im old
and gray to enjoy life I have to use credit
Wow, 19 replies and no one has come even close to answering the OP's question. I can't help you either sharpshooter but I am sure not going to sit here and preach to you about what you should and should not do. Its your life, If you have to finance a bike to get one, go for it. With all of these Keyboard Commandos on here that own all these late model bikes that they never ride, I can promise you the vast majority of them are financed. One piece of advice I will give you though. Never put your credit score on an open forum. Not a very smart thing to do. Just my .02 cents.
Road Master
Joined: May 2011
Posts: 774
Likes: 2
From: S.E. Montana
I'd save up as much as you can and buy a used from a private party, if you are patient you will get a good bike at a reasonable price. That way you will own your bike outright so if you lose your job no worry about losing your bike. I have bought all my bikes and cars with cash and paid off my house so my only debt is taxes and utilities and with the economy the way it is now it was the best thing I've done in years, no worries about how I am going to make ends meet. Building the credit rating is good if you expect to keep making payments, and interest to some bank that was partially responsible for the mess we're in now. Just my .02
.....is what you should listen to. Find a good clean used bike, and be happy.
Tourer
Joined: Jun 2008
Posts: 475
Likes: 0
From: South Texas
If it wasn't for credit I would not have a dadgum thing.
More power to the people who can pay cash, but for a
comman working stiff like me I have to use credit.
Now here me well I am not bad mouthing the bigger moneyed
people, I am not a hater, but unless I want to wait till im old
and gray to enjoy life I have to use credit
More power to the people who can pay cash, but for a
comman working stiff like me I have to use credit.
Now here me well I am not bad mouthing the bigger moneyed
people, I am not a hater, but unless I want to wait till im old
and gray to enjoy life I have to use credit
Tourer
Joined: Feb 2010
Posts: 252
Likes: 0
From: SF East Bay
Talk to the credit union 1st. Have them check your score and then see what they recommend, doesn't cost to ask for advice. While you're waiting for spring do what you can to improve your score. I had no score due to staying away from credit for a long time. I got a secured Visa through Wells Fargo and after a year my score was great.
Tourer
Joined: Jun 2008
Posts: 470
Likes: 2
I have bad credit due to several reasons. My credit score is in the mid 600's and I was suprised to find that I was able to finance for 11.99% I was expecting at least 17%. I'm able to pay off in about 5 years and it should bring my credit score up
Cruiser
Joined: Feb 2009
Posts: 219
Likes: 2
From: Commerce, Ga
Back in 99 I bought a new FXDX with shitty credit after a divorce, put 10% down with 18.9 % LOL....... My last couple of bikes have paid cash for. To me paying cash is like have a saving account you can enjoy instead of ur money sitting in a bank. Find a good low milage bike at a good price and then if the time comes where u need the cash, 9 times out of 10 u can always get ur money back and sometimes some interest. There are ALOT of good deals out there right now!
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Ultimate HDF Member
Joined: May 2008
Posts: 6,508
Likes: 169
From: WPB, FL
Unbelievable!
Yes paying in full cash on hand is smart but making payments on time and taking loans is a good way to build up credit. I went from a score of 400 ish to exellent credit but it took 10+ years and a lot better choices. If you pay everything off with cash you will have poor credit (no credit history).
I find some of the wisdom spouted on this forum unbelievable! Getting a good credit score is a simple matter. PAY YOUR BILLS ON TIME! IT IS THAT SIMPLE!! While cash leaves no "credit history" your day to day living does.
Rent / Mortgage
Utilities
Phone
CREDIT CARD (S)
Don't live beyond your meens. Pay your bills on time. Put some money away for emergencies. (they will come)
I've never been late paying ANY bill, have a comfortable income, and after 39 years have a high? credit score. My wife just started working 10 years ago (housewife before that - yeah I know - that's work too), has never borrowed ANY money and has an even higher credit score than me. This credit score crap is nothing more than a system by which borrowing rates can be jacked up by the lenders. LIVE WITHIN YOUR MEENS!!
Road Master
Joined: Sep 2010
Posts: 1,208
Likes: 7
From: Chicago Area
Talk to the credit union 1st. Have them check your score and then see what they recommend, doesn't cost to ask for advice. While you're waiting for spring do what you can to improve your score. I had no score due to staying away from credit for a long time. I got a secured Visa through Wells Fargo and after a year my score was great.
Very helpful book. Used it ten years ago before I bought my house. Refd it to friends / family over the years and they also found it helpful.
Actually found that my record had a bankruptcy from someone with the same last name. Took almost a year to get it removed. Also had credit card stuff I messed up in my early years...for the hell if it tried to dispute and won. The derogatory statements were removed.
Once you fix it take care of it. Tough I no longer "need" credit to get what I want. Credit is a necessary evil to get through society today.
Good luck and be patient through the repair process.