iamedelmann

Hey guys I just turned 18 and I've been looking at bikes a while now. I want to get one and I can afford payments the only problem is that I dont have any credit. Is there anything I can do to pay monthly for a bike if I dont have credit? I'm not really sure how the whole financing thing works. Do I just have to have a co-signer or what? And no im not gonna ride like an idiot. Ive been racing motocross all my life and Ive lost several friends and family members to motorcycles. I have respect for bikes and I'm def going to watch other drivers on the road because thats definently where the most danger is. Thanks!

Teknical

get a credit card, and spend money on it, make sure to pay it off every month.. in a few months you should be able to get it on your own.

Unless you have a co-signer then you don't really need credit. It goes off the co-signers credit, and if you fail to make a pay ment the get punished for it. Doing this gives you no credit your self though. So if you do, make sure to get a credit card and just use it for gas and pay it off ever month.

iamedelmann

yeah thats what im gonna do then. how long do you think ill have to wait until I have useable credit if i spend say 150 a month. i was just thinking about letting my mom use the card to purchase groceries or whatever and then pay me back immediatly just so I can get the credit.

pnkpnthr2133

You'll probably need a co-signer. I did when I bought a bike. At the time I didn't have any credit either. Call John at Ride Now in Port Richey (727) 420-8474 and see what he can do for you.

Using a co-signer DOES give you a little bit of credit. But not much.

pnkpnthr2133

if that's the route you're going, you'll probably need to use a credit card for about a year. and you'll probably need to really use it. i don't know if they still have it, but citi has a 0% apr (for a year) card. go ahead and try that.

Emerehh

yo, I was in your same spot last year brotha.. so let me break it down for ya!

My last sportbike (06 Kawasaki 650R) was in my dads name, and we sold it when I moved in 06..

So I was saving most of 06 and some of 07 to get a new bike.. I had my apartment and all my bills in my name and I figured that would be enough to get me approved on my own for a bike... WRONG! All my bills and shit were just small time credit, loans only go off major credit (car/bike payments, credit cards, mortgages, ect.)

So pissed that i had 7 grand sitting around and was close enough to just buying a bike in full, I played with the idea of waiting a few months and just buying in cash.. but I came to the conclusion that I REALLY want not only a new sportbike but ALSO some credit out of the deal, so I convinced my mom to co-sign with me for my 07 GSXR 750.

My first payment I put my 7g's down, then a month later I paid my bike off with the rest of the saved money I had...

At the same time I went to Capital One: Credit Cards, Home & Auto Loans, Banking, Small Business Credit Card and got a small (300/500$ limit) credit card to put groceries and small things on to pay off at the end of each month.

4 months after paying off my GSXR I apped to get a loan for a Dirtbike, and was approved WITHOUT a co-signer EVEN though my GSXR was paid off in only 2 months and I had a co-signer. On top of that I also bought an 07 Honda TRX400 quad that I was also approved for with my credit.

So in conclusion, get a co-signer.. get yourself a small credit card or two and have fun with your bike and be safe