yamaha financing
How can I get good motorcycle financing with bad credit?
I had perfect credit up to a year ago, when personal issues required me to file bankruptcy. That was in January of 2007. The bankruptcy has now been discharged. Anyways, I am looking at a Yamaha YZF-R6S. I have more then enough to pay for insurance and the monthly payments, but there is no way that I will be able to get financed by the dealer. Can anybody tell me any places that I can go that may work with my credit score of 579? Also, if anybody else has any other bikes 600cc and up that they would recommend, I would appreciate it. Thanks!
You filed bankruptcy, and now you want a magic bank to finance you with poor credit? It’s not gonna happen. You FILED BANKRUPTCY, and it stays on your credit report for 7 years even if it was discharged. Banks don’t care what your problem was, all they see is the bankruptcy, and they don’t owe you squat.
You might try a credit union, but you’ll have to open an account with them first before they’ll grant you financing. they have FAR better rates than a dealer anyway, but YOU will probably be staring down the barrel of a 14% finance rate (at best) regardless.
Lesson learned: don’t file bankruptcy and expect everything to be OK afterwards. It tells people that you can’t handle money properly.
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