I have to say I disagree. I'm not saying borrowing money is ever a great idea, but for me, I plan on keeping my bike forever. If I want something different down the road, then I guess I will have two bikes. I bought new, never worried about how someone else treated it or what they did to it. I mod it to how I want it. To me, a new harley was worth it, and if it's only worth $1 a few years from now, that's ok too.

 

If you have a stable job and decent credit then there's nothing wrong with getting a loan. Not everyone is fortunate enough to be able to pay cash for a vehicle. To the OP, since you have no credit, paying cash is your only option. In this day and age, no credit or bad credit is like a black cloud that hangs over you. You need to look into ways on improving your credit situation.

 

I hate banks. I pay cash for everything. Im not rich by any means. I just save up the money if Im wanting something. I don't even own a credit card. I lived on credit many years ago and had an ex-wife that knew how to abuse it. That was when I quit the credit BS. Life is so much easier when everything you have you own.

 

A lot of people's parents don't teach them about credit whatsoever. So you don't have any no suprise there. When I financed my bike, my credit score was 721. That's at age 22.

I got a starter credit card at a credit union, and built credit from there. School loans I pay every month, etc. Than when I wanted a car loan I was able to get one easily. My first loan was for 5000. I paid that every month, sometimes double payments.

Getting credit is not hard as long as you pay your stuff ontime your fine.

I'm not gonna say paying cash is worse, because it isn't. But chances are you're going to have a home loan at some point in your life. You'll need credit from somewhere.

 

This is why they do credit checks: to avoid making bum loans to those w/ no credit and/or bad credit. Same goes for someone co-signing w/ bad credit. How did you think that would help you?

#1--Forget about using someone else's credit. Just forget it.

#2--Establish your own credit:
Low-limit in-store charge accounts (Sears, JC Penneys, etc) are easy to get, even if you have no credit, as long as you have proof of income.
Visa's or MasterCard's are available that are secured by attached savings accounts. These are some ways you can help yourself get established.

 

Most in store charge accounts have astronomically high interest rates. Like 14-25% or more. Honestly, go down to your local credit union and start an account than get a CC from them.

 

Do what the rest us of did before credit was King and we were young and broke , save some money do your homework pick up a bike in a basket or one in need of repair and get busy . Why does it always have to be about instant gratification and a new shiny toy ? There are options besides bitching about how unfair it is , you really want a bike or the status symbol ?

 

The interest rate doesn't matter. It can be used for small purchases one would ordinarily make w/ cash, carrying a tiny balance just for the sake of establishing credit. One credit union account won't do it.

 

Blackmetal get a credit card from your bank.

Buy gas and just a few other things and payoff the balance ON TIME and in full each month. DO NOT EVER PAY LATE AND PAY IN FULL.

You also need a steady job history and a steady income if you expect to get a loan and I assume you do have both from what you have said.

You do have a checking account and a savings account I hope?
IF NOT GO TO A MAJOR BANK AND OPEN BOTH TODAY !!!!!!

In 12 months with a large cash down payment you should be able to get financing of some type.

RIGHT NOW YOU CANNOT AFFORD THIS TOY.

Thats what the money lenders are thinking.

You are just a young guy with no money who has MOTORCYCLE FEVER.

You need to chill on the Harley fantasy for atleast a year.

Be patient it will come soon.

DO NOT TAKE IT PERSONALLY. YOU ARE JUST A NUMBER TO THEM.

 

Yea I understand what everyone is saying so for that reason I am going to get credit union they said no but approved me for 500 visa so I will be taking the visa saving about 3-4 more k and having about 9-10k saved going to buy a used one and in a year a new one with my credit