approved

[jab0400]

Ok guys im gonna go to the dealer sat and ive got a couple ?s about credit for some of you guys thats might have an idea or have been in the same boat. Alright im 19 and have no credit, never have had a loan for anything. Im gonna go to the dealer with a thousand dollars in hand for a down payment. Now my question is, what do you think the turnout will be with no co-signer, think ill get approved? Well i hope so. Thanks guys. Jeff

[rap169]

i doubt u will be approved, but good luck. My buddie had no credit and almost half for a down payment on a 300ex a few years ago and they wouldnt help him with out a co-signer.

[dvsmnd]

depends on your income too, but if they only try one loan company ask them to try others, i went to one shop and the salesman ran it through honda credit and then turned me away, i went to another shop a week later and the salesman there tried 2 or 3 companies and found one, your interest rate may be a little higher but u gotta do what u gotta do.

[Thump_It]

I went with 3g's down and still had to have a co-signment. I had my mom co-sign. I would say it is highly unlikely that you will get approved, but who knows, good luck.

[450ex]

get a credit card and use it for 2 month

that should help

they would laugh you out the door

honda is tougher than your local bank

[kssandduner]

they would laugh you out the door
I agree 100%. I was in the same boat about four years ago. I had just graduated college, and moved into a new apartment. I couldn't even get a credit card! And I applied for so many cards that it actually hurt my credit history! Now how are you suppose to establish credit if they won't even give you a chance? The banks weren't any nicer either, they wouldn't give me any kind of loan without a cosigner, and I've heard that it doesn't help your credit history much with a cosigner. And to make things worse, if you get an atv loan through your bank, they make you put full coverage insurance on it, and their interest rates suck! Anyways, I'd say it took me almost three years to establish decent credit, finally got a credit card, then an auto loan, and other small odds and ends that help out. When I bought my R in march I had no problems. Just thought I would share my credit problems!

Joe

[tkwarrior]

I went out took a new credit card with 15 months 0% intrest and handed that to the dealer. After 13 months have passed I'll find another card to transfer the balance to that has a 0% intrest for X amount of months on transfers.

Remember there is always a way to work the system.

[1fastR]

my girlfriend was in the same boat as you are, she went to go get her 400ex by her self and honda said no way with out a co-signer, had her dad sign the papers took it home same day.

FYI-the new 05' at my local dealer are going for $5,899 and the 04' are going for $5,600

[jeepnrocks]

atv financing is extremely difficult for a younger person. One of the main things finance companies look at is how long you have been at your job. the longer your there the more 'points you get'
I had a friend who had over 3000 down and couldnt get financed for a 450r, been at the same job for 5 years, has good credit, recently paid off a car, and could have easily afforded to finance the quad.
I think its harder to finance an atv because of how fast they lose their value (in the short term) and how easily they can be wrecked up or stolen.

[Seano]

i was 19 and bought my cr500. i put 1000 down and still had to get a cosigner. the bike was 5500 out the door and i paid 141.83 for 5 years. that cr500 cost me 9500 all together. come to think of it i should have had a better rate than 18% since i had a cosigner but i was young and didnt know how to shop by then. now im 25 and just bought a 05 trx and got the 6.9 through honda. FIRST BIKES BUILD YOU EXCELLENT CREDIT EVEN WITH A COSIGNER!!

[red2004 TRX450R]

I was 23 and got my R through American Honda Finance 6.9% for 5 years with 0 down.
I have worked for the same company for 3 years and I’m a full time finance student.
I all so started building my credit at 18.

I’ll tell you how to build credit.

Every time you get turned down that hurts your credit.
The more CC you have the more available credit u have out and they will not give you any more pased on payment history and income.

First get a (one) CC and use it for things like gas, lunch smokes ect. BUT every time U use the card take cash out for your wallet and put it some where and don’t spend it.
When the bill comes pay off the full amount INFULL AND ON TIME.
Do this for like a year.

Then get a another Card and just make several small purchases on it like every couple of months.

Then keep doing step one and make a large purchase like $800.00 and pay it off in like 6 months.

Keep doing step one and step 2 for like another year or two and you should be good to make a larger loan.

Remember make all payments ON TIME
All ways make at least 8 times the minimum payment if not pay it all off at once.

When starting your credit don’t use the card unless u have the money to pay it off in full.

And always keep that first credit card you ever got and use it at least every 6 months for some thing. Because when they issue credit they look at how long u have had an established credit!

Then U can buy a nice used car for like $10000.00 and a new 450r with no money down. And have Credit cards with over $10,000 limit like me a Stupid College kid. LOL

If u do this and make all payment on time U will not get turned down for any thing!!!!!!!

[dvsmnd]

hey, mabey u can apply to one of those damn credit card companies that keep poping up while your trying to read this thread. aaarrrggg.

[bulkdriverlp]

Originally posted by red2004 TRX450R
I was 23 and got my R through American Honda Finance 6.9% for 5 years with 0 down.
I have worked for the same company for 3 years and I’m a full time finance student.
I all so started building my credit at 18.

I’ll tell you how to build credit.

Every time you get turned down that hurts your credit.
The more CC you have the more available credit u have out and they will not give you any more pased on payment history and income.

First get a (one) CC and use it for things like gas, lunch smokes ect. BUT every time U use the card take cash out for your wallet and put it some where and don’t spend it.
When the bill comes pay off the full amount INFULL AND ON TIME.
Do this for like a year.

Then get a another Card and just make several small purchases on it like every couple of months.

Then keep doing step one and make a large purchase like $800.00 and pay it off in like 6 months.

Keep doing step one and step 2 for like another year or two and you should be good to make a larger loan.

Remember make all payments ON TIME
All ways make at least 8 times the minimum payment if not pay it all off at once.

When starting your credit don’t use the card unless u have the money to pay it off in full.

And always keep that first credit card you ever got and use it at least every 6 months for some thing. Because when they issue credit they look at how long u have had an established credit!

Then U can buy a nice used car for like $10000.00 and a new 450r with no money down. And have Credit cards with over $10,000 limit like me a Stupid College kid. LOL

If u do this and make all payment on time U will not get turned down for any thing!!!!!!!
i agree totally thats what i did. even some rental centers report ur credit too. ive got in trouble 2 time with credit card debt. had to morgage my house to save my credit. i dont think youl get ur wheeler without a good co signer, not a chance. ur cosigner has to have good credit too and income because if you dont pay for it they have to be able to. and interest rate means everything, before you buy go to a bunch of different banks and go back and fourth with em and get the lowest rate. 1/2 point even means quite a bit when ur talkin bout 5 year loan.

[TRX450rRoostin]

ya im 18 and i had no credit at all.... and went to the dealer with 3 grand for a down payment and i got it...but still had to have my dad co-sign

[450rboy]

well they didn't let my bro by my 4 wheeler and stuff either and he is just 18. but my mom was there so it was fine for me

[jab0400]

Well guys, i decided to listen to you. Im gonna wait until thursday when my mom can go with me. She said she would go ahead and co-sign for me!! I feel better about that, i was starting to worry about my chances. Well, Ill let you know how it goes on thurs!! Thanks guys for all the reply's and tips, ill keep them all in mind. Jeff

[chris450R]

yeah man you will for real have to have a co-signer. i am 20 now but back in march i was still 19 i went to the nearest Honda dealer are wanted to finance myself a 450R, and i had 1500 cash for a down payment. they were like "i don't know" about me not having a co-signer and everything. now i have had credit since i was 15 when i bought (loaned the money from the bank) my first truck('72 chevy). then i loaned some more to get my first atv ('94 warrior). later i sold my truck and bought a new truck('98 s-10). now to the point of the story they called and checked on my credit history and then called me back and they were like HELL YEAH you can get a new 450R form us! they said my credit was emaculant, they said my credit was way better than some people they know. so the whole point is that although credit is not the best way to always buy stuff it is necessary for somethings. good luck man hope it works out for ya. c-ya, chris

[K_Fulk]

I bought my 400 when i was 19. When i was first looking to get one. I couldnt get a loan without a co signer. Untill after i had my truck loan for a year. @ weeks after i paid the 12th payment on my old truck i got approved.

[allmixedup047]

is it just honda or are all companies like this? when my buddy bought his banshee this year they said if he had a grand to put down they would go ahead and give him the loan. and this yamaha dealership is about the worst people to work with, i went to look at a YFZ with my mom before i bought my R and they wouldnt even talk to me about it. so the next day i went to the local honda dealer and bought my R. im glad that yami dealer wouldnt work with me!!!:blah:

[MY450R]

honda is easier to get financed than yami

[red2004 TRX450R]

YA if u make all you payments on time. they will give u as much credit as you would like..