Can you Finance a Motorcycle with No Credit?

[@joseyosullivan420]

This literally gave me everything I needed to know that I didn’t about buying a bike in 6 mins. Stress off my back thanks brotha!

[@AlexSimmons11c]

Always happy to help! Let me know if you ever have more questions!

[@knoxvilledrummerslaidoc4508]

This is common sense - so skip this video people - basically he says - get a co-signer with 700 credit score to sign with you or put down like 30 to 50 percent down and you will get approved for a bike - done

[@deemedworthy]

This is very helpful for us viewers we really appreciate the time you spent on making sure our questions are answered.

[@NobleGuard34]

Thank you!! Really informative. Explained it best in under a few minutes.

[@theking1000]

Awesome bro good info.. hoping to pick up my first bike today!! R3

[@AlexSimmons11c]

great choice!

[@benjaminforman1616]

Ok that closing song made me smile, havent heard rise against in the wild ina while, any ways thanks for the help! I'm a broke college student with no credit so this helped a bit

[@arjunbrar7032]

I have decent credit(680-700 both transunion and Equifax) like the Credit Karma App says that it's a fair credit score, and I was giving 50% of the bikes total price as the down payment and the dealer still rejected my finance option. I know I am a student in college without a big ass student loan, like my tuition and manage a credit limit of $4000 and still I was rejected. It literally broke my heart because I dont have car or motorcycle, so I have to fucking uber everywhere I go because guess what Alabama doesn't have public transportation system.

[@brandonj3456]

Helpful information. Keep it up bruh!

[@travelinman482]

Here’s a question no one has asked you, yet. Does motorcycle dealers use all three credit agencies? Or just one of their choosing?

[@Drunken_Hamster]

Okay, so here's a big one. I occasionally cart friends and family around in my 05 Ram Hemi quad cab with a 6'4 bed. I so far haven't used it as a truck for MYSELF, only for others. There ARE a couple of projects I want to do and things I want to get that will require something with significant cargo capacity, but, this thing gets TERRIBLE gas mileage [I can't get it to reach 11mpg, and I city drive 99% of the time] and it also has some pretty notable body issues. Thing is, I got it for free when my dad left it to me in his will. I want something faster, nicer, and better on gas, though. Eventually, I'd LIKE a 14+ Ecodiesel crew cab with the 6'4 bed, but that's kinda way off. As a short term fix[especially on the speed, niceness, and freedom aspect, and because I like motorcycles] do you think I should fix what I can for a reasonable price on this truck and sell it to pay for a/the bike I want [CB1100] and gear, or keep the cager and try to get the bike another way? Other things to consider before you tell me. I currently have no credit, make about 27500 a year total, and have to pay 220 a month insurance on the truck and $50-$75 a week on it for gas. It's owned outright by me, and if the body was pristine, I MIGHT get 6k-8k for it if I'm lucky, with 4k being about the minimum I'd sell it for. I've been quoted $2500-$3000 to repaint the whole truck[factory quality, no Maaco shit], including door jambs, and this includes fixing two bed dents, but I'll have to replace the fender and tailgate myself. So, what's your take?

[@AlexSimmons11c]

Man it sounds to me like the money you would have to put in the truck to make it "pristine" won't be worth what you would get back out of it. If you did sell the truck, I would get the max you can for it as-is. That being said since your dad left you the truck it's really a decision only you can make. The good news is if you keep the truck and find a way to get a bike, then you won't be using the truck so much and your gas bill will go way down. In this particular situation I think I would keep the truck and either save for a decent cheap cash bike (or finance a cheap one if you can find a local lender that will help you with no credit). Mostly because your dad left it to you and it sounds like in the trucks condition you won't get what you should out of it. You may need to get an inexpensive bike to save on gas and get riding, and then go for the CB1100 a little later on when you can save some money (which it sounds like putting gas in the truck is keeping you from easily doing).

[@MrKnifeart]

Credit banks all suck. Just have the cash. Good video, saves time.

[@CaffeineFreak13]

True, but its easier said than done

[@mindthenowmotovlogs8563]

Finally found my answer about a co signer. Im looking at a 12k r6 and i wanna put a 5k down bad credit like around 630 and my father has a credit of like 810. Thankyou

[@AlexSimmons11c]

Awesome, good luck!

[@joncardona692]

I’m trying to finance a dirt bike is it true that honda doesn’t really care too much for credit but mostly care about your pay stubs and how much you make ?

[@AlexSimmons11c]

Honda still takes credit into account, but they do tend to have programs for people with less credit as long as income is good. Keep in mind those programs also usually have high interest though, so be careful!

[@20BKing]

I got burned by a shop in Florida that ran my credit through several different agencies and I was denied for a loan. My score was in the low 600 but dropped to a 430 by the time they were done

[@1320-d9x]

Im trying to buy a klx110 worth 2500 with no credit no cosigner and a down payment of 900 do you think ill get approved

[@isaac62rebel]

I know the shop I go to can do a soft check which won't affect your credit score and see what you'll need to give in order to walk out with a motorcycle

[@RobinsoExodus]

Where is your shop located? I need help the shop I have been working with can’t help me and o have good credit with a good down payment no co signer and only school debt on my credit

[@andrewwhite8833]

Alex, can you give an average APR to expect for the different credit ranges? I know this will vary by region and even by institution but what to except would be nice.

[@AlexSimmons11c]

Depending on where you are in the U.S. and what lender you use, you can expect APR for good credit (700+) in the 5%-7% range depending on length of term, for medium credit (600-675) in the 7%-9.9% range, and bad credit (under 600) in the 14.99% and up range. These are just super basic numbers, there are way too many variables

[@andrewwhite8833]

Alex Simmons thank you, I fall into the medium category right now and thought I would have to pay a lot higher rates.

[@Voltomess]

are those numbers the same if i want to buy a car? or its something different?

[@travelinman482]

@@AlexSimmons11c Here’s a question that no one has asked you, yet. Does motorcycle dealers use all three credit agencies? Or just one of their choosing?

[@malikontwo7812]

I remember watching this vid early last year ended up buying my first bike cash $2500 s and now I’m 19 and have good credit 730+ 😭 patience

[@malikontwo7812]

i leave the best comments yeah my credit started off high when I got my first credit card at 18 In like 6-8 months I was at 730 I only got one credit card and never missed one payment, it goes up and down but still in the 700+

[@iimgbillyrock]

@@malikontwo7812 how the heck did you get that score so fast? i've been told it takes years to get into that range

[@malikontwo7812]

@@iimgbillyrock honestly idk I started with like 650 with my first card I’m 21 I’ve had 2 cars in my name and have 4 total cards, Discover, Amex Platinum, Chase, and Apple and I cycle through which card I use every couple weeks to get payment history on all never missed or late any payments on my cars/cards, score goes up and down but as of now my score is 765 even after all my history the last 2 years and it’s dropped slot and went up lot it’s always gonna change

[@StacheCam]

Trying to finance a motorcycle for 3000 to build credit and I don't want to pay my high insurance rate because I got a point and still young (23) currently have to many project cars and one good cheap transportation that can help me build my credit will be great. My question is should I ask my bank first ? Credit unions or just go to the shop and work numbers ? I could afford it but I just don't want to spend more money than I have to buying a mini bike lol Thanks in advance !

[@AlexSimmons11c]

Hi StacheCam! So here is what I would do: (1) Go to the shop of your choice and get the right bike at the right price picked out FIRST (crucial for making sure your financing can be worked out accurately anyway). (2) Then give the shop a chance and see what kind of financing they can get lined up for you because they may have better lenders, and you won't really have to lift a finger or do much leg work that way. If they find you good financing that works for you budget, then you are already on golden street. (3) IF they don't get good financing for you or you don't like the terms they come up with, or it doesn't fit your budget, or if they are asses to you then go to your own bank/credit union with the exact model and VIN on the bike you picked out and see if they can do better on your financing. Let me know if you need anything else! You can also run your finance numbers by me when you get them and I'll tell you if you are getting a good deal or not.

[@StacheCam]

Alex Simmons thanks pal I appreciate it ! I'll let you know when ever I go and get it ! I'm actually going to get the kymco spade haha. Love motorcycles but I don't want to become a hard on motorcycle guy. I plan to stick with the cars haha we'll see how it goes.

[@thekillercub274]

Alex Simmons but for checking your credit at the dealer and credit union doesn’t that negatively affect your score?

[@trumpthefraud1694]

I don't have no credit history at all why because I don't trust banks lol. I'm saving like 3k to see if I could get the iron 883 and give payments, why ? Because the security positions are a bit far.

[@AlexSimmons11c]

Yeah I do run into a lot of people who just don't have credit because they have never used it for the same reasons as you, it just makes life a little harder if you don't have any haha

[@trumpthefraud1694]

Alex Simmons thanks for replying

[@poormansmtb5204]

You should trust banks they have lots of walls

[@chrissnow4877]

Can I finance a atv and a motor cycle at the same time? 5,000 for the atv. 5,000 for the bike. Total 10,000 loan. Credit is 700 first time buyer with 2,000 down. Thanks brother

[@alexb5275]

I’m 20 years old and have absolutely 0 credit (never had credit cards or loans before. Car, school rent etc. paid in cash) and I’m looking to finance but am having trouble getting a loan, even with 50% down payment. Any suggestions?

[@amerikanviking]

Yeah. Same boat. I am 33 years old, paid in cash for everything my whole life. Decided to get a bike (Aprilia RS660) and can put down $7K. Can't finance the other $4k? Really? Such a joke. Now I have to wait even longer. Never owned a bike, I am a disabled combat veteran, never have had any credit issues, great job. Just FYI, credit is a JOKE! No credit at 33 should show great responsibility, but, if you don't play the game, they lock you out permanently. They treat you just like a criminal. Shame!

[@devonthompson7325]

gonna see if i can get approved for a $12000 r6 with $1200 down, no credit history... just turned 18 Thoughts?

[@imzorah-3749]

Devon Thompson did you get it?

[@bofadeeznutz4622]

Lmfao u not getting shit

[@thecollinzboy]

what if i get someone to co-sign can they then follow up and do a co-signer release so they will no longer be held liable if the primary borrower fails a payment?

[@GMXR7]

I live in NY..have kinda shit credit...but i want a cbr 500 for 6g..i have a good co signer and put like 2500 do u think ill get it?

[@thanatikid1620]

Great video.im looking at tryin to get me a lil duke 390 to start off with for my first bike.butni got kind of bad credit.not horrible but just not good and I have about 1,000 to 1,500 to put down on it and their asking $5,500.i may have a cosigner to help me out.but I have a question if you think you could help out.if I had a cosigner get the bike with me would I be able to have the tags and registration in my name or would it have to go into the cosigners name?or would it be both names on the the plates?

[@Man-Man-223]

I have no credit and I’m looking forward to finance a Kawasaki ninja 400 2023 that costs around 6-7k and I have 2k in cash. Could it be possible to get that bike?

[@C0LDW4RK1D]

Hey, Alex, good info and good video. At the moment, I'm looking at a 10k bike. I don't have any credit but I have a considerable chunk of change (upwards of 8k) and an excellent co-signer. Now would I want to put down all or almost all of my money as a down payment, or is there a point where you run into diminishing returns? I imagine I want to hold onto some for any taxes, licensing, fees, etc. as well as for any incidentals down the road. Thank you.

[@AlexSimmons11c]

Hi Emilio! If you have that much cash down AND a good cosigner you should be set brother! I would not pout down more than about 3-4k in that scenario, that will be plenty to get your equity in the bike where you want it and will keep the rest in your pocket to get good gear, and take care of your future maintenance properly. You should have no issues getting a 10k bike with 3-4k down and a good cosigner.

[@C0LDW4RK1D]

Appreciate the reply, man. Thanks for putting the information out there.

[@goldengloves36123]

Quick question, I have the Yamaha credit card I just paid off my FZ-07, I went to my local dealer cause I was interested in trading my bike in for a DRZ 400SM and wanted to out the difference on my Yamaha card and was told I would need to reapply for financing , I called Yamaha and they said it was revolving credit and I could spend it on anything I wanted, so is the dealer trying to screw me or is Yamaha wrong ?

[@Tekevin]

I really want to finance a bike but don’t want to get ripped off. I want a Yamaha R6 I have a 720 credit score with a car note. How would I negotiate with them for the best deal? What would my average interest rate be? And can I do a 500 down?

[@beforetheracks]

look… this was YEARSSSSS AGO but bro please tell me how it went? did you get the bike?

[@Tekevin]

@@beforetheracks I did but ended up selling it, I realize it was dangerous haha. Lots of liability.

[@ttv_dumpster_dann7647]

So I have an "average" credit score. And I want a hinda cbr300r (4700 dollars) and I'm wanting to put down 2000-2500. Does that seem reasonable and likely to get approved?

[@TheKlone594]

Yes 👍 99 percent chance

[@mindthenowmotovlogs8563]

Hey man i have a 630credit score do you think i can get approve? But i only have creditscore from credit cards

[@camdencrotwell349]

Love videos that make me feel a lot better haha

[@RetroMotiveAdventures]

I'm 19 and looking to finance a bike I've got proof of employment and can put a hefty down payment on one I'm curious how I'd go about applying for a finance. As well as I'd like to do it without getting a parent co signer even tho both my parents have 800+ credit ratings I'd want to do it on my own to build credit is this possible? 🤔

[@RetroMotiveAdventures]

Also I'm looking at financing a Honda Grom for in city commuting to work I'm curious what a realistic down payment would be on it. The reason being is driving my older Land Rover Discovery everywhere is costing me more than a payment would be on a bike in gas every month..

[@jojottg8834]

How’d it go?

[@joseph41389]

If my credit score is 610 with 91% payment history on my auto loan and I want to get a bike that’s $12,000 and I have $6,000 for a down payment, will I have a decent chance at getting approved?

[@djcali9746]

Super helpful for me but if I have bad credit and can only put down 1,000 or a little less than that and I have a good co signer will that make my payments lower or higher or does it depend on the bike I want for example let’s say I want to get a street bob pre owned or a dyna would my payments be high or low

[@vFloater]

What if I have good credit but low history no late payments or any other negative things just low credit history

[@fernandosaenz6628]

Let's say I do get a CO signer and have $1000 down to put down on a $6000 note . What kind of payments are we looking at and for how long?

[@AlexSimmons11c]

All things being equal on an AVERAGE interest rate and an average term length somewhere in the $125-$150 ballpark...but that's a very broad guess because the rates and terms can vary a lot.

[@jeremycaringal5380]

I am planning to buy a Yamaha Bolt that costly like $8 or $9000 on this year and I wonder, in your opinion: lets say I'm going to put down at least $1500 with a low credit at about 600+ is there a chance that they are going to approved my finance application. Another thing is do you think it'll affect my application from them, because I have another monthly paying on the new car I just bought last month?

[@steelfiore163]

so im looking into a harley pan am its $22,000 i was thinking of putting $7000 to $10000 down would i have any issues with having 0 credit?

[@kadencepethtel361]

I don’t have any credit history or not a job right at the moment but am able to make payments , I have a co signer you help me with 800credit I want to put as little as I can down so I can assure my self I can make the payments until I get my job here in a month or 2 , I want to get a r6 in the range of 6k-10k 10k being the max will I still get approved with the co signed I have which has 800 credit if so how little can I put down ?

[@Focusing-profit]

No co-signer, I’m hoping 3k down will get me this ninja

[@larryford9732]

I have a bike and a car repo from 6yrs ago and want to get a bike again. Since then have been good with credit. What are my chances?

[@AlexSimmons11c]

The repos will hurt as far as a big lender goes, but if you have done a good job of re-establishing your credit since then and shown good payment history on some other loans you should still be able to make something happen, especially with a smaller more local lender, you just may pay high interest

[@larryford9732]

@@AlexSimmons11c Ok thx am trying to get some credit through Harley with my wife having her name on our bike. Harley not wants her to cosign and I am wondering why they didn't ask that two years ago when we bought the bike.

[@joeylindblom9421]

I want a 250L, No credit history because I'm new to the USA. I have 2300 cash. And a cosigner that has no mortgage and only a car loan, reasonable credit history and makes around 65-70k a year. Is that reasonable? I really have no idea. I mean the video makes it seem like it but idk.... i wanna be sure so I don't make a fool out of myself.

[@ohSaiko]

Amazing video!!

[@rjlindner757]

What if I want to get a bike I have no credit but i have 4,000 to put down an that leaves 3k of payments left on the bike think they would work with me? I went in the first time with only 1,000$ downpayment by myself but I have very little credit an they wanted a cosigner an the only person I have who can cosign has okay credit but a good job? Should I go in again an bring that friend whos willing to try an cosign with me anyways? Also they go through a couple local credit unions. The one said they would lend me the money if I had a cosigner with good credit.

[@TheCraftster1010]

I have a question, so I have a bike in mind that’s around $6500, Equifax calls my score a ‘fair’ credit score, it’s not bad by any means but it isn’t great, more like average. and I don’t have a long credit history. I have about 1200 to put down but I can’t find a co-signer to help me. What are my odds of getting the loan?

[@TheCraftster1010]

I forgot to mention, I had asked a salesman at my dealership and he said that, while I am employed, he doesn’t think I make enough per month to qualify for financing. I make 800 but he’s thinking in the range of 2k per month.

[@AlexSimmons11c]

Ok Tristan, so here are a couple of things just based on what you said! First off the sales person was correct, most lenders will have a minimum monthly income requirement of $1500-2000 depending on lender, so you'll need to get that income up some OR get a good cosigner, which you already mentioned was difficult. Second off if you don't have a long history then you may still be able to get financed with your cash down if the dealer (or you yourself) will use a smaller local lender, but most big lenders will want to see a couple of years of payments on another large-item loan before taking the risk. Really this all means you will likely need a cosigner or you'll need to build some more history and get your income up to finance. The much better route would be to me patient, save your money, and get a $3-4000 bike or less to get your riding, then get the bike of your dreams later!!!

[@TheCraftster1010]

Alex Simmons thanks so much for the reply, this is super helpful!

[@Gonzawil44]

I have 5 months with my credit it’s at a 650 for now but I bought a car, and took out a two small loans to help build payment history, when I went to get a ninja 650 I didn’t get approved 😔

[@SnoT8282]

With about a 650-670 Credit Score, you think there's a decent chance of getting approved for a $5500-$6000k biker without a co-signer/downpayment or minimal downpayment?

[@AlexSimmons11c]

Hell yeah, 650 and up you should be about golden. If your shop can't get you a good finance deal with a 650 or better score then find a better shop haha

[@jamestaylor7489]

Alex Simmons might want to mention some banks still wont approve of your debt to income ratio is off. Meaning if you have a lot of bills and only make so much money then they can reject you if they fill you won't be able to afford that extra bill each month.

[@bthompson1767]

It's all about the fucking scam of interest rates

[@scottbowles9574]

Interest is LEGALIZED LOAN SHARKING, bottom line, but since the Government is in on it it makes it ok, if you buy something and get hit with 25-28% APR that should be against the law!!!!! Don’t care what your credit is, honestly do you think someone could be more able to pay off a loan at 6-7% or 20-28%, that’s gonna double the price your paying, so I find that crazy

[@kdpostswhatever9152]

hey quick question for example I have no credit and im interested in buying a 3k dirt bike would I be able to get it with a great co-signer which would be my mom and not put anything up front down and if I were to it would be a few hundred since the bike isn't that expensive please lmk!!???

[@Man-Man-223]

Did you get the bike?

[@leroyjenkins5765]

I wanted a motorcycle worth 4000 and was willing to put 2000 down and I still couldn't get financed they wanted collateral and all this extra stuff. So I just bought one used on craigslist way better. Now I own 3 motorcycles and a nice car and my credit is still garbage lol

[@aidanclubb6890]

I was looking to buy a street bob. I have 5-7k to put down on the bike but no credit history, I was wondering if this would be at all reasonable seeing as how most of the used street bobs I've come across at dealers seem to be around 10k minimum. I don't know a lot about how financing works but I was also wondering if you can make upgrades to the bike if it is being financed? For example new exhaust system, air intake, and some sweet bars? Any info would be helpful thanks!

[@AlexSimmons11c]

Absolutely! If you have that much to put down on a used Street Bob you should be able to make something happen with a local credit union or bank, since that's over 50% down. And yes if you finance it you are perfectly fine making upgrades to the bike if you want!

[@jamestaylor7489]

A lot of banks have a system where if you have no credit they will approve you for a $3000 loan. So if the bike is 10k then they would require 7000. If its 8k they would want 5000 etc. Go in and put off for a reasonable downpayment but not the complete amount you have. So if you have 5000 in hand then go in and say 4000 down. If the banks come back rejecting that then they will give you a price and you can bounce back with that 5000. It doesn't always work but it's never smart to tell a dealership or bank just how much you actually have on you. Also make sure to consider insurance. Because you will need it to get off the lot.

[@omarreynaga8799]

Hey man I have a question.. so I’m trying to buy a Yamaha yz250f. I already submitted the application for financing. I have a excellent credit!! And they told me that I didn’t qualified because I don’t have long credit history but then how I have good credit? In this case what can I do?

[@AlexSimmons11c]

Unfortunately with motorcycles or any powersports product the credit industry sees it as a "luxury" item, so they want to see at least 1-2 years payment history on some other large financed item before they are willing to take a risk, that means they like to see a year or two payment history on a car loan or similar. So you can have good credit but just not a very long payment history on a large loan, and they still will have a hard time. That being said your dealer should have tried harder to get you a loan with a local lender, as those will usually give you a shot with less history as long as you can put some cash down. Maybe try a couple of local credit unions yourself and see what you can do? otherwise you'll need to wait until you have a couple of years major payment history under your belt, or get a good older cosigner.

[@omarreynaga8799]

Alex Simmons thank you!! I appreciate it for responding back. That help me a lot. Then in this case what would you recommend me, to try with another local union credit or try to prequalify with a co-signer?

[@humbletrini8257]

How hard is it getting insurance for a bike ex. Yamaha 300?

[@3kbaby823]

Im wanting to finance a 50cc icebear mini max or a bintelli beast but have no credit if my dad has 650 credit score can I get one easily the bikes only 1500-1600$

[@DivergentSoul]

Hey man, I’m having trouble getting a loan for a motorcycle. I’m buying it off of marketplace. He wants $6500. Who can I contact to loan me the money? I even have 1200 to put down upfront I have a 686 credit score but no credit history.

[@shamusdunn3943]

Hello I need help with my situation. I have a 640 credit score ive had credit for about 6 months maybe longer im trying to finance a ktm 450 sxf I have no dings nothing bad on my credit and I wanna put 1200 down as a down payment what are my chances of me getting approved? the bike is 10,199 do I need more money down or a better score ? Where am I at please help

[@marcowens3522]

I want a 2022 yamaha yz250 it's around $8700 I want to put a down payment of $3000 on it i don't have good credit I did go bankrupt about 5 or 6 years ago think they will approve me?

[@iam1in1]

Thank you dude! God bless you

[@devilsacid1448]

I was stressing about the credit because I’m turning 18 next month and I really want a ninja 400 which are around $5000 and I don’t have any credit cause I’m just now turning 18 but I also have like $1500 to put down on it

[@donaldsaunders3059]

Hi Alex my daughter applied for a new Atv and the credit union refused her. She has excellent credit with the credit union right now but they found out she owed 280 dollars on an old koto phone some years ago. She was disappointed and she paid off the 280 dollars she owed and it’s still on her bearu so they said they can’t issue the loan. This is the stupidest thing I ever seen in my life. Thank you

[@Riley_Christian]

I have no credit and want a bike for 4700 with 1000 down, But what about proof of income?? most my income is from freelance gigs so I have no way to prove my income. What do I do?

[@fordmadness337]

I applied for financing on a 2017 Honda foreman 4x4 that was 6499 out the door. I had a down payment of $2700. I have no credit and they could not do anything for me it was such a bummer. I am currently building my credit rn and I'm saving up for a bigger down payment so any advice and I can't get a cosigner I'm basically on my own

[@AlexSimmons11c]

Have you looked at any of your local credit unions there and asked if they finance ATVs? Maybe worth a shot, hit me up again if that doesn't work!

[@fordmadness337]

Alex Simmons I think the dealer I'm currently talking to is using motolease I've heard bad things about them

[@AlexSimmons11c]

Hi again FordMadness, I am not a big fan of motolease personally, we have used them before but to me their down payment requirements are nuts and I just don't like how they do things. A dealer needs to try you through the First Time buyer program with Honda Finance, and if that doesn't work they need to get off their asses and work hard trying to get you a local credit union approval. If they are not willing to work hard for you, then find a better dealer!

[@dennisritter7628]

you can put it on layaway

[@busaisbest8731]

Alex Simmons what if you look at a 20,000 bike with 6 or 7000 down

[@tasneemhasanat1451]

Hey Alex I'm trying to buy a Honda rebel 300 I got like about a 1000$ but no credit history cause I came to the U.S about a year ago and I only have a secured credit card. I'm a student I'm 20 I work 2 jobs and definitely looking forward for my first bike. NY is a bit hard on the road laws but do you think I can get some financing on a bike around 4K with 1k downpayment?

[@AlexSimmons11c]

Hi Tasneem, I would go ahead and give it a shot with your $1000 down. Honda has a good first time buyers program that you may qualify for so give that a try, and see what happens! Worst case scenario is they would ask for a qualified cosigner on your loan.

[@JayTac1]

Does the age of the bike matter? I know with cars most banks won't finance one that is more than 10 years old. Is it the same with bikes? Also, what's usually the minimum loan amount? Thanks.

[@thesavage4070]

I am wanting to get a iron 883 but I dont know how to get credit and am just finishing high school can you give me any tips?

[@kingkardii]

Where is ur shop located and what’s the name of it

[@nabilrahmankhan9764]

I’m so upset .. because I have unusual medical bills & others bills on my head .. it’s about 5000 & I’m looking E bike best one so I can start drops delivery job right now ... I so affirm that give people loan for EBike too .. & I’m not approved.. I believe if I get the bike o can earn some money and o can pay all of debt or installment.. so how can I get Finance loan for best EBike ?

[@AlexSimmons11c]

If you don’t have the income unfortunately it’s going to very difficult to almost impossible to get a loan, you will likely have to find another means of transportation until you can save a little money and show proof of income

[@LiterallySpiderman1014]

What if I want a 20k bike and put 40% down...are they just as likely to lend? With a newer bankruptcy claim.

[@Shiny39]

hi Alex I was trying to find away to get a loan to buy a motorcycle but I do have bad credit and wanting to buy a Kawasaki Ninja 400 brand new

[@hoopherbo2875]

Where is your shop at? I would like to buy a bike from you for my first bike.

[@jsin22366322]

Im almost done paying my 15 r1, I have good credit (700+ across the board) and I wanna put down $2000, can I finance a bike with no issue?

[@hunterhinson496]

I would say yes

[@BigBlueMichigan71]

hey im 20 years old and am trying to finance a 3000 dollar bike, i am a co signer on my jeep and have two credit cards that ive never been late on... Do u think ill be approved?

[@re9473]

Is this still the same Process and scenarios with buying a slingshot ? And which credit score are they looking at?

[@ciarandonnelly2864]

I’m looking to get a yz 125 it’s about 3500 I have 2000 do you think I should be good

[@shelovesdrxke7129]

what shop do you work at?? im willing to drive over 10 hours to get a bike

[@joshevans2230]

god damn

[@bnzchacon5455]

So I have about $1,700 less than what the dealership is asking for in cash, would I be able to put like $3000 down and then finance the rest?

[@TheCraftster1010]

Probably

[@AlexSimmons11c]

Will depend on your credit, credit history, debt to income ratio etc. If you have about $1700 less than you need it would actually be smarter to be patient and just save the rest to pay cash though!

[@Chris_p_bacon86]

Prob a dumb question. Let's say my score is 650 and I have 1k to put down MAYBE 1500 I want to finance a 2018 road glide special is it doable? And depending on the term or the loan and interest rate obviously do u think its realistic to get 500 a month or not much higher? I make 480 a week after taxes and literally no debt to credit against me.

[@thanosbustedinyourmum]

After taxes i get 1500 a week and I'm saving for a 1000 paying cash step your game up broke boy you never gon a get anywhere

[@jeromegsxrgroover6900]

that's a 30k dollar bike your crazy

[@patho-9327]

Brambo_86 that bike is too expensive

[@lillulu-g2e]

So if I put down 2000 on a 5500 bike with no credit I have a shot?

[@somedudeona6367]

So your saying I’m mcfucked, I can’t get a co-signer and I just started a new job so there’s no savings, for a down payment. With poor credit

[@christopherhuggins3212]

What are the chances of me getting any financing with a 670 credit score 1000 cash upfront and a trade in trade in value realistically is around 600 bucks the bike I'm looking at is a FZ6R at 6500 bucks brand new leftover model

[@LorenandBridget]

Hey Alex, so I'm looking to get my first bike walking in with 500 cash down and a credit score of 700 I've had a credit card for 1 1/2 never late, only owe 100 bucks on it. 7 months ago I Financed a car for 12,000.00 which ended up being thru the same comany I have my credit card thru. The bike I want is a 2017 ninja 300 ABS, cost 4500.00 minus the 500 down so total finance 4000.00 in your professional opinion, what would you say my chances are? And I don't care if it is a 72 month loan. I plan on making double payments. I'm all in on getting a bike, been a dream of mine for years. I've gone as far as just getting my motorcycle permit last week.

[@AlexSimmons11c]

Chances should be pretty good if you've had a card for a while and a car loan for 7 months, if for some reason they can't get it done then look at some local credit unions on your own, I think you cant get it done!

[@LorenandBridget]

Thanks Alex for responding, update I got a 2017 ninja 300 abs krt. I'm riding her home today.

[@AlexSimmons11c]

Awesome! Enjoy and ride safe!

[@thanosbustedinyourmum]

Chances are your a broke boy

[@thanosbustedinyourmum]

A 300 lmfao I got a 1000 a real bike

[@tehclefty5317]

Im currently unemployed... but i have 65% of the price in a down payment for the bike i want... will i not be approved just because im currently unemployed?

[@AlexSimmons11c]

Correct, it is very difficult to secure financing for a motorcycle if you are unemployed, they want to be sure you can pay it back

[@davidmoreno1325]

Hopefully this works.... So i live in texas.. And i want to get a grom that is 3800.. I'm gonna go in with 1500.. I have no credit.. My mom wants to cosign with me but has bad credit, 610... Could this work out for me? First vehicle I'll own.

[@TheOzthewiz]

Do you have a job? If your mom has bad credit, I would NOT add her as a co-applicant. Instead, add her income as "additional household income", by doing that they will not pull her credit file which would hurt your chances even more! So, if YOU don't have a steady income, you WON'T get financed!

[@lkaydenl]

I’ll be 18 soon and I’m looking at a 2023 Yamaha r7, I have 2500 to put down, how’s my chances there?

[@lkaydenl]

The bike is $9,199 btw

[@PanchitoLopez-su2zn]

@@lkaydenldid you buy it?

[@lalogee37]

Hey bro looking to finance a bike We're is ur shop located at? U sound so trustworthy

[@AlexSimmons11c]

Nashville, TN (Madison location is mine)

[@lalogee37]

Alex Simmons crap I'm in California would of been so awesome getting financed with u thnx anyways

[@freshconnekt]

Would it be better to try to go thru your own lender or thru a dealer’s lender

[@notmason9707]

You think I could get approved at 18 no credit history 2k down I make about 1100 a month

[@cajunkonection]

$1k/$2k for a $5k motorcycle? What a joke. I tried getting a $5k motorcycle with a 665 credit score and $3k down and was denied from a credit union where I had a car loan for a year with an immaculate payment history and had just recently paid the car loan off with them in full...still denied

[@omarvasquez7655]

I have 706 credit I want to get the can am Ryder . I have a disability The right side is paralyzed hand and foot I can control it by my left side can you help me

[@vanlouieb]

Hey Alex just a quick question, I've never had to file for bankruptcy before but would you say there's a range of credit scores that would have a big affect in my motorcycle buying experience? Thanks a lot the video helped tons

[@AlexSimmons11c]

If you dip below about a 550 overall score it starts getting difficult to get approved, but there are still usually local banks and lenders that will give it a shot with a score under that, they will just charge higher interest to make up for the risk they are taking. Hope that helps answer your question!

[@tyronemoore4830]

Hey Alex what if I paid for half of the motorcycle then financed the rest

[@alejandrotorres2461]

Does the co signer have to be present??

[@igotthis449]

What about 30% down with bad credit on a $15,000 bike. I've got goodish credit. Credit score is probably 650ish

[@bekkiwampler9016]

I'm 13 and looking for a bike to learn to ride what should I choose and what should my price range be

[@kassandrasaenz4563]

Bekki Wampler you’re gonna have to wait until you can get your car license first. Maybe you can get a dirt bike ? Maybe $1,000 for that. For a motorcycle your price range is whatever you can afford

[@user-mz8je8kh9y]

I’m 19 live in Mississippi looking for a 650 I have a job but don’t have any credit. Anybody can help ?

[@AlexSimmons11c]

If you have a job but no credit you will likely need a co-signer or a lender that has a first time buyer program. Check out the playlist I did on motorcycle financing, it has a lot of helpful advice on this!

[@user-mz8je8kh9y]

Alex Simmons no co signer☹️

[@zabethlopez7664]

Yes ima be realistic I want a Ducati panigale V4S and I don’t have credit at all but I don’t care I’m going to make it happen because everything is possible in life.🤙✌️

[@rhcp4life697]

Do you even need credit if you pay 100 percent cash upfront on a 5,000 dollar bike through a dealership ? (crf250l)

[@baileyybarra5817]

Music IS Lyfe, you dont need credit if you are paying the full cash amount

[@rhcp4life697]

Bailey Ybarra thank you. This will be my first brand new bike and didn’t know if that was a stupid question or not. Haven’t financed much in life so far

[@dylanjames1311]

Ok hear it goes publicly. My score is 598 an I have plenty to put down as a down payment is someone able to work with me? That’s half the reason I’d finance a bike it to have fun and rebuild credit. Thanks!