what was your credit score?
#31
10-27-2010, 10:45 AM
Elite HDF Member
I knew when I saw this thread that there would be some offended people. It is a personal question to ask and the OP might have worded his question better. However, since the OP is simply seeking some online advise to help ease his finance approval worries I'll chime in. I worked as a loan officer at a bank for a few years and also as a finance dude in a car dealership for about 10. Anyway, with the finance markets where they are now, you need to have a little better score than you might have needed in the past. If you are in the high 600's you can probably still get a bike somewhere if you have some down payment and a low debt/income. However, your rate will be higher - maybe in that 7.5-8.5 range. If you are strong on the credit score, have a good down pmt, and your debt/income ratio is good, you can find very low rates. I did borrow a bit on my bike at 4.15% fixed. Nice rate for a very short term loan. If you have any unpaid collections or are currently behind on anything, don't buy a bike even if someone is dumb enough to give you a loan. Get yourself caught up, then ahead a little, then think about a motorcycle. Things will work out. I would suspect that if you have doubts as you seem to, then you likely have had some credit troubles in the past. Sometimes you have to bear down and wait until you are in a little better shape, or save up your pennies and pay cash.
I've received bills from health providers I have never seen and never requested services from, and since they were out of my PPO network, my insurance didn't pay them and applied their bill against my out of network deductible. How can I go to a participating hospital and end up with bills from non-participating doctors, some of them I never saw?
Friggin' joke if you ask me.
#33
10-27-2010, 11:22 AM
This link will help:
http://moneycentral.msn.com/content/...ng/p136689.asp
I have 30 years of insight that may help.
No lender uses the exact same underwriting criteria. However, directionally, if you are in the 700 and above range you will be able to find competive rates that are very liveable. The farther your FICO drops, the higher your rate will be. At some point your credit can become so bad that no lender will take the risk regardless of the rate you are willing to pay.
Simply stated. Your FICO is an inverse predictor of your likelyhood to default. The lower your score, the more likely you are to default.
A quick check on rate competiveness is to get a quote from your local credit union. They are typically one of the lowest cost providers. However, they are often undercut by manufacturer subvened rates.
To the OP. You are welcome to drop me a private note with any specific questions you may have. I hope this helps.
(As an aside. I find it uncomfortable that a new member posts this question in the method he did. High tech financial phishing is prevalent today. Posting a high FICO on the net could easily make you a target.)
http://moneycentral.msn.com/content/...ng/p136689.asp
I have 30 years of insight that may help.
No lender uses the exact same underwriting criteria. However, directionally, if you are in the 700 and above range you will be able to find competive rates that are very liveable. The farther your FICO drops, the higher your rate will be. At some point your credit can become so bad that no lender will take the risk regardless of the rate you are willing to pay.
Simply stated. Your FICO is an inverse predictor of your likelyhood to default. The lower your score, the more likely you are to default.
A quick check on rate competiveness is to get a quote from your local credit union. They are typically one of the lowest cost providers. However, they are often undercut by manufacturer subvened rates.
To the OP. You are welcome to drop me a private note with any specific questions you may have. I hope this helps.
(As an aside. I find it uncomfortable that a new member posts this question in the method he did. High tech financial phishing is prevalent today. Posting a high FICO on the net could easily make you a target.)
Last edited by Jonesee; 10-27-2010 at 11:26 AM.
#34
10-27-2010, 11:27 AM
Average size and yes, yes she does. Thats muche easier to answer than my personal credit info.
#35
10-27-2010, 11:35 AM
Well you obviously assumed wrong. I financed mine last April. It's true, this was the first time I have ever financed any of my bikes. But at twenty grand when all is said and done, who has that laying around?
#36
10-27-2010, 11:42 AM
Cruiser
Join Date: Aug 2010
Location: Bismarck, ND
Posts: 163
Likes: 0
Received 0 Likes
on
0 Posts
Unpaid collections mean little to me, unless you know what kind of bill it is. Medical bills are the main reason for collections and a high proportion of them are disputed for very good reasons. Nonetheless, they are considered delinquent until you pay them and even after you pay them, they stay on your record for 7 years, which is outrageous.
I've received bills from health providers I have never seen and never requested services from, and since they were out of my PPO network, my insurance didn't pay them and applied their bill against my out of network deductible. How can I go to a participating hospital and end up with bills from non-participating doctors, some of them I never saw?
Friggin' joke if you ask me.
I've received bills from health providers I have never seen and never requested services from, and since they were out of my PPO network, my insurance didn't pay them and applied their bill against my out of network deductible. How can I go to a participating hospital and end up with bills from non-participating doctors, some of them I never saw?
Friggin' joke if you ask me.
#39
10-27-2010, 12:30 PM
Road Master
Excellent idea. Only way to beat the slime ***** out of their immoral usury.
My interest rate is 0% as well and has been for over 40 years since figuring out who was getting the most use out of my sweat equity.
My interest rate is 0% as well and has been for over 40 years since figuring out who was getting the most use out of my sweat equity.
