Just curious how good my credit would have to be to buy a new atv...i live in Wv and i know my credit score is 643 atm... but what other stuff is looked at and should i need a higher score? and what things would cause me to not qualify for a newer bike. thanks for any info.

 

They'll check your credit to debt ratio also. Basically, how much your report shows your paying and compares that to your income.

Used to be just about anyone could get financed, it was just a what rate.

Not sure how things are going to be now.

 

643 isn't bad - not great but a normal rating. Do yourself a big favor and go to your local credit union or bank before shopping for ATV's. The CU will give you the best deal and will also let you know up front how much you can afford.

Whatever you do, DO NOT sign up for the manufacturer sponsored intro financing offers. You know - the ones where you pay $69 a month for the first year or two. Unless you already have the money in hand to pay off the note, those programs will totally toast your credit once they balloon out.

 

yea it turns out that i dont really have enough credit history to buy an atv, i mean i havent had any truck payments or anything everything is payed for cash on hand...the only payments i have on my credit report were like 851 bucks on a credit card, and its all payed off i dont use it anymore...and i owe like 400 bucks to a hospital still so thats hurting my score a little but after talking to a guy at the dealer i used to work at he said even with that payed its still not gonna be enough to be able to get a loan on a bike, i dont know what else i can do, i dont have any1 else that can co sign, and i dont know if another bank can give me a loan or not or if i should even do that...i know i was planning on putting about 1000-1500 down if i bought one or just pay that a few months after i got one to knock some payments outta the way, i dunno i guess am just gonna have to bite the bullet and buy another used bike thats in ok condition, im just tired of all the used crap, i want something fresh outta the crate lol.

 

Any credit unions in your area? Some require as little as 25 dollars to open and account, and they are a little more lenient on their loans. Might get a better loan rate too.

Big plus if you have 10-20% to put as a down payment.

 

there is a 167th federal credit union, so i guess after i pay that 400 bucks off here friday ill go down there and talk to them? do they give out the loans and i buy an atv with that then just pay the credit union with payments, im trying to get an 09 raptor 700 i can get it for a good price since i know all the guys at the dealer and i used to work with them so ill save 800 bucks or whatever is usually tagged on to the final price, so i just do like a loan application?

 

You pay back the credit union. When you go to the dealer, tell them you want a cash price. Obviously, the credit union is not going to give you the cash directly, but the dealer will receive the money from the credit union just as it was cash.

You will have to fill out a loan application.

 

alright sounds good should i go to the dealer before i go to the credit union and let them know that im gonna try to get a loan from the credit union? thanks for the help hopefully it goes through fine, i can make the payments no problem its just getting my self in the door thats a pain.

 

You may want to go to the credit union first and find out how much you can get pre-approved for. Then you know how much you can offer.

Every time I've gone and bought a vehicle, and it was financed through my credit union, I told the dealer I already have been pre-approved on the financing and just need a price.

 

alright cool ill stop by the credit union maybe monday and talk with them then take it from there with the dealer and let them know, hopefully it will go through the bike i want is 6800 and i dont know if i will have the 1000-1500 at first to make a down payment or not, if not i will just sell the warrior after i get the new atv then just throw that money at it and knock some payments out.