Obtaining a loan.

[AllStar1500bd 5,000+ posts]

:waits for Flip's input:

He'll probably say it's good to be in debt so do it.

 

[Pl8er 5,000+ posts]

:waits for Flip's input:
He'll probably say it's good to be in debt so do it.

Nothing wrong with debt. It is how you get things that you couldn't normally afford.

I'm waiting for Flip as well. The guy really knows his shit.

 

[shynegrynd07 10+ year member]

my parents wont even cosign for me to go to college, i highly doubt they will for a bike lol.

i know i can pay it off by the end of summer too, i just want it during the summer

especially with gas on it's way to 4 a gallon

thanks for all the help to, i'll visit some banks tomorrow

 

[Lingerfelt 10+ year member]

What was your beacon?
Because something isn't adding up with that one. You had to miss payments somewhere.

My beacon? //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

No missed payments.

 

[riogigalo 10+ year member]

if your only makin 125 a week you better pick up a second job... payment and full coverage for a 19yr old is gonna ****... i had a katana when i was 21.. insurance wasnt too bad if i remember somethin like 400 a year maybe.. better check insurance first

 

[Pl8er 5,000+ posts]

my parents wont even cosign for me to go to college, i highly doubt they will for a bike lol.
i know i can pay it off by the end of summer too, i just want it during the summer

especially with gas on it's way to 4 a gallon

thanks for all the help to, i'll visit some banks tomorrow

One thing that is VERY important. Don't go bank to bank to bank running credit checks. That has a negative impact on your score.

 

[shynegrynd07 10+ year member]

One thing that is VERY important. Don't go bank to bank to bank running credit checks. That has a negative impact on your score.

ohhh good thing u told me that lol

 

[fbi90909 5,000+ posts]

yeah. you can't gain credit w/o being in debt. lawl.

save up more money if they deny you. though try to get a co-signer and don't feel bad if you do get denied. it's not the end of the world.

 

[Pl8er 5,000+ posts]

ohhh good thing u told me that lol

Start with your bank that you use.

 

[Lingerfelt 10+ year member]

Still wondering what a beacon is? //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

 

[Pl8er 5,000+ posts]

Side note, but if this is your first bike. You may want to look a bit more used. Like eBay. Statistically you are more likely to drop your bike in the first 6 months (your first riding season in Ohio). LOTS of bikes can be had cheaper than you are looking.

I got my duck for 4k (900ss) and the other is a 2001 ducati 750ss for 2,000.

 

[Pl8er 5,000+ posts]

Still wondering what a beacon is? //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

Sorry.

Here it is:

FICO Definition - Beacon Score

FICO score is another name for Credit score. Often, the FICO score called Beacon credit score. This is because one of the largest consumer credit agencies, Equifax, has been marketing the FICO scoring algorithm under the name of BEACON.

First, let's get one myth out of the way: FICO definition or algorithm is different between the three credit agencies, TransUnion, Experian and Equifax. This is incorrect - see FICO Score Myths for explanation.

Second, let's present the latest FICO scoring model from Fair Isaac Corporation - NextGen. Yes, your credit score generated by the three agencies is not called FICO or BEACON any more - it is NEXTGEN score now. Just like it was with FICO score, the bureaus each market their Nextgen credit scores under a different name.

 

[shynegrynd07 10+ year member]

Side note, but if this is your first bike. You may want to look a bit more used. Like eBay. Statistically you are more likely to drop your bike in the first 6 months (your first riding season in Ohio). LOTS of bikes can be had cheaper than you are looking.
I got my duck for 4k (900ss) and the other is a 2001 ducati 750ss for 2,000.

well i just don't really get how loans work then i guess.. do u get the loan and they just give you cash?

and i've been riding a 300 klx dirtbike since i was 14 so i have a bit of experience..

 

[Pl8er 5,000+ posts]

well i just don't really get how loans work then i guess.. do u get the loan and they just give you cash?

It depends on the loan. On some loans, yes. You tell them what you are wanting to buy, apply for the loan and they cut you the check (if the object is worth what is being asked). ie. you couldn't buy a 2000 ninja 6r for 10,000 as it is not worth it.

 

[Blove1991 10+ year member]

This is why I found a 1993 Honda CBR600 F2 that was stretched a bit and already lowered with a good bit of chrome and then painted by my dad for $2500. I'm still paying my dad off for it and insurance is only $45 a month....which isn't bad for 16 years old.

Loans FTL