Need an loan.. where to go?

[RanJer]

Ok, deal is.
We're trying to get a loan to pay off VW credit for Amy's bug, and get a bike. She owes just under $5K and we're looking around $5K for a bike. Is there anywhere that you guys suggest that'll essentially give her a loan for $10,000? It would be a secured loan since they'd then have their name on the cars title rather than VW Credit.

Tried West Bend Savings and Loan. Most they will give on an unsecured loan is $3,000. And the most they would give on a secured was ~6,100.. so paying off the car and having $1100 or so remaining..

[Karps TA]

Best to try is credit unions like Landmark.

But all lending places are being alot pickier then they used to be.

[CPonyGo]

plz plz do not go to those high rate ,for sure you will get the loan but you sign your life to the devil places like HFC or Am General...you would be looking at 20 upwards to 30 percent interest..sure you will get the loan and a present in the butt

[formul8]

How about this:

First pay off the loan on the Beetle completely, THEN go buy the bike.

:thumbsup

[Rocket Power]

How about this:

First pay off the loan on the Beetle completely, THEN go buy the bike.

:thumbsup

QFT

[Breecher_7]

Just pay off the 5K on the bug first.

You have a interview tomarrow I believe......

[Crawlin]

First Got To Figure Out How Much The Beetle Is Worth. They Will Only Allow So Much. If It's Worth 5k, And You Owe 5k, The Most You'd Be Looking At Able To Borrow Would Be Like $6500.

Now, You Could Go To Landmark Or Educator's Credit Union Or Guardian C.u. And Have A Higher Interest Loan(11-15% Compared To A Vehicles 6-7%) But You'll Be Able To Get The Total Amount. I Got An Unsecured Loan For $10g's At Ecu A Good Number Years Back. Rate Was Like 9% At The Time Though And A Used Car Rate Was Like 4.5%, So Things Have Changed Drastically. Good Thing Then The Title Is Free And Clear.

Those Credit Unions Will Do Those Larger Loans. It All Depends Upon Credit Obviously. 700+ Fico, You Can Do What You Want(within Reason And Budget)

[RanJer]

You have a interview tomarrow I believe......

Yes sir I do. 9AM



First Got To Figure Out How Much The Beetle Is Worth. They Will Only Allow So Much. If It's Worth 5k, And You Owe 5k, The Most You'd Be Looking At Able To Borrow Would Be Like $6500.

Now, You Could Go To Landmark Or Educator's Credit Union Or Guardian C.u. And Have A Higher Interest Loan(11-15% Compared To A Vehicles 6-7%) But You'll Be Able To Get The Total Amount. I Got An Unsecured Loan For $10g's At Ecu A Good Number Years Back. Rate Was Like 9% At The Time Though And A Used Car Rate Was Like 4.5%, So Things Have Changed Drastically. Good Thing Then The Title Is Free And Clear.

Those Credit Unions Will Do Those Larger Loans. It All Depends Upon Credit Obviously. 700+ Fico, You Can Do What You Want(within Reason And Budget)

Thank you, that's what I was looking for. WBS&L told us the Beetle was worth $64XX. She owes about $4600 before making July's payment. I guess we're gonna go tomorrow and talk to Landmark in Germantown and weigh out the options. Not committing to anything just seeing what's available.

Thanks again Chris

[ND4SPD]

Go to Summit Credit Union...
www.summitcreditunion.com

They have MUCH better rates than Landmark. I'm a member at both, but I'll be ditching my Landmark account (which is actually our family's joint account) and moving it to Summit.

They also just built a branch on Miller Parkway. I've been with them for 8.5 years now and have been VERY happy with them (which is why I kept them even after I moved out of Madison).

[H8RADE]

Just a thought...
Much easier and less painless to scrape by for a couple of months and pay off that Beetle outright.
Then, you can buy the bike you want without having to empty every pocket and limit your choices.
What if you smash into something on that bike that your gf's credit secured?
You have to think of the person with the job and the credit, not just what YOU want right now.
Before you get all butt-hurt and flame me, realize that I am trying to help.
BTW, was this your idea, or hers?
Really?

[michelle]

Open a savings account and save up for awhile. I'm sure bike prices increased, so you may as well wait it out this summer and find something over winter when the prices are down. And by then, the bug will be all paid off. Every now and then I see decent interest rates for a savings account or even a few month CD.

I have no experience with loans, personally, as I am a cash-only type person and that's how I was raised. But I've seen people find themselves in a lot of debt by getting loans which scares me enough not to go there until it's time to buy a house.

[theavenger333]

Just a thought...
^^ most of what he said. but otherwise, i've gone through Guardian CU, Educators CU, i have one now through Prime Financial CU. stick to the credit unions, shop them all if you need to in the phone book. it costs, what a penny to make a call, and it can save you anywhere from 1% up to like 5% interest

[Crawlin]

Open a savings account and save up for awhile. I'm sure bike prices increased, so you may as well wait it out this summer and find something over winter when the prices are down. And by then, the bug will be all paid off. Every now and then I see decent interest rates for a savings account or even a few month CD.

I have no experience with loans, personally, as I am a cash-only type person and that's how I was raised. But I've seen people find themselves in a lot of debt by getting loans which scares me enough not to go there until it's time to buy a house.

if you don't get those larger unsecured loans that show responsibility on installment type credit(auto/personal/motorcycle), good luck getting a house loan.

i see it everyday. 3 years of PERFECT payment history on credit cards, paying 3-4% higher rate on an auto loan than someone with the same credit score with previous installment type credit. now imagine if it was 1 full point higher on a house loan. that's HUGE.

[Crawlin]

there is a downside to credit unions though. they are not regulated by the same laws as banks like chase/M&I/etc...

Like Landmark... if you have EVERYTHING under landmark, your car, your house, your boat, your motorcycle, etc.... anything secured...

let's say you fall back on the house payment, or start making spotty payments due to rough times. They can seize your car even though you've been paying it perfectly to auction off to help pay for the house payments you are behind. It's a cross colateralization they have. Now your remaining debt on the car is still to be owed and anything can be sapped from any other positive equity account you have their, money market, cd's, 401k, savings/checking, etc....

[ProjectCamaro]

What year is the bug and what model?

I work for Johnson Bank and can look into what the intrest rate would be.

[RanJer]

Just a thought...
Much easier and less painless to scrape by for a couple of months and pay off that Beetle outright.
Then, you can buy the bike you want without having to empty every pocket and limit your choices.
What if you smash into something on that bike that your gf's credit secured?
You have to think of the person with the job and the credit, not just what YOU want right now.
Before you get all butt-hurt and flame me, realize that I am trying to help.
BTW, was this your idea, or hers?
Really?

Considering that either way, whether we pay the Beetle off first or not, we'll have to get a loan for the bike. Figured out right and how we talked to the lady today the payments would be about the same as she is paying right now just for the Beetle. There would be no scraping by. Choices really aren't limited at all. I don't want a brand new bike. I don't need anything fancy. There's tons of used bikes out there.

I see no reason to get butt-hurt or flame you considering I left myself open to opinions when I posted this. And yes it was OUR idea. She agrees with me that this can be done and taken care of. Considering she is right next to me reading everything you guys have said and what I am saying.


What year is the bug and what model?

I work for Johnson Bank and can look into what the intrest rate would be.

2001 VW New Beetle
2 DR GLS Turbo
Auto
16" Alloys
~101K
Sunroof/moonroof
Heated Leather
Power everything
A/C

Not sure what else you may need to know..

[pOrk]

Obviously your credit sucks if you can't get your own loan, and if you can't get your own loan then you most likely can't afford a bike.

Why don't you do what most of the rest of the world outside America does, get a job and save up enough money to purchase the bike instead of having a bank purchase the bike for you?

Oh yea, you need it right now.

[pOrk]

I must add, your reply via AIM was great. We are still laughing, thanks!

[Poncho]

Obviously your credit sucks if you can't get your own loan, and if you can't get your own loan then you most likely can't afford a bike.

Why don't you do what most of the rest of the world outside America does, get a job and save up enough money to purchase the bike instead of having a bank purchase the bike for you?

Oh yea, you need it right now.

So you're going to crucify him for looking into potential options that keep the payment on the beetle down, and will also allow him to have wheels? Also basically you are stating that you pay COLD HARD CASH for all your purchases. Really? Like really? Maybe you can give us legal advice too.

Note to anyone looking to buy a house, keep saving, pay for it all in case in one fell swoop.

[kornholio788]

Credit Union is really your only choice I think. I went through Citi(Also my credit card company) and they approved me of up to a 10k loan. And I am only 19 and I have an excellent credit score. But the interest was pretty high so I said **** that and walked away. Wasn't worth paying 6k for a 3k bike just to have it now. Never looked into other places with lower rates. Decided to get a much nicer apt instead. Priorities > toys. Pay off the car first. Then buy the bike.

And BTW. P0rk buys everything cold cash. He is a pimp.

[BAD LS1]

Um what about insurance on it too with a loan?? I know its about 800 a year for me with a racing ticket in the last 3 years and one speeding for a "standard" motorcycle...

[Poncho]

Have we learned anything from BCM? It's just easier to slip money under the table to your insurance guy, while your z06 wheels are out getting powdercoated.

[formul8]

Simple reasoning:

Do not buy things you cannot afford.

The Beetle is a necessity. Loan on it, fine. It gets her to work and back.

A bike is not a necessity. You save up and pay CASH when you want to buy one. Teaches you financial discipline and not paying interest on toys.

Only finance necessities (house & car) and pay cash for luxuries. You will come ahead of about, oh, 70% of Americans.

Lesson is over.

[Poncho]

[09:52] JudgeThis05: topic of thread : where can I get a loan
[09:52] J3r: yeah.. not "should i get a loan"
[09:52] JudgeThis05: answers: two good ones and 10 people to tell me to do something else

[RanJer]

Simple reasoning:

Do not buy things you cannot afford.

The Beetle is a necessity. Loan on it, fine. It gets her to work and back.

A bike is not a necessity. You save up and pay CASH when you want to buy one. Teaches you financial discipline and not paying interest on toys.

Only finance necessities (house & car) and pay cash for luxuries. You will come ahead of about, oh, 70% of Americans.

Lesson is over.

So had I said that I we were going to all this. Everything the same but replace bike with car, you'd be agreeing? Well the main reason for getting a bike is that I don't have a vehicle I'm confident in driving on freeways and such. So we'd be getting a new VEHICLE (car/bike/whatever). It is not just about a toy, it's about a means of transportation.

Meh. Thanks to those who listed places to go and things to check out. I'm done looking at this thread.

/fin

[pOrk]

If you do find someone to get give you a loan for the bike, make sure you get 500 extra or so for cheap riding gear. Cheap riding gear is better then no gear, I have about a grand spent on my gear and I don't have my own pair of riding pants yet.

[jbiscuit]

Simple reasoning:

Do not buy things you cannot afford.

The Beetle is a necessity. Loan on it, fine. It gets her to work and back.

A bike is not a necessity. You save up and pay CASH when you want to buy one. Teaches you financial discipline and not paying interest on toys.

Only finance necessities (house & car) and pay cash for luxuries. You will come ahead of about, oh, 70% of Americans.

Lesson is over.


and there you have it. Well said. Having credit in your name is important in our economy and being able to purchase things like a home etc. Be responsible though and don't buy sh1t you don't need JUST cuz you want it. You'll discover (or you should at some point) that having a ton of bills is ghey. Buy things when you have the cash. Keep the credit card in your wallet for emergencies and even that, I haven't used in a few years. Debit cards backed by Visa/Mastercard FTW. Just make sure you learn to balance your checkbook then :rolf

[pOrk]

So you're going to crucify him for looking into potential options that keep the payment on the beetle down, and will also allow him to have wheels? Also basically you are stating that you pay COLD HARD CASH for all your purchases. Really? Like really? Maybe you can give us legal advice too.

Note to anyone looking to buy a house, keep saving, pay for it all in case in one fell swoop.

Owning a home is exactly like owning a 3000 motorcycle, what a great comparison. A motorcycle isn't practical for a daily driven vehicle for most people, I rode one all winter long when I didn't have a car two years ago but it sucked and I did have all the proper gear without having to finance it :)

[RanJer]

If you do find someone to get give you a loan for the bike, make sure you get 500 extra or so for cheap riding gear. Cheap riding gear is better then no gear, I have about a grand spent on my gear and I don't have my own pair of riding pants yet.

I have an Astars jacket and joe rocket gloves. Just need 2 helmets (We'll just be getting HJC CL-15s ~$125/ea), female jacket and gloves for her. Been looking on craigslist for that stuff too.


Owning a home is exactly like owning a 3000 motorcycle, what a great comparison. A motorcycle isn't practical for a daily driven vehicle for most people, I rode one all winter long when I didn't have a car two years ago but it sucked and I did have all the proper gear without having to finance it :)
When I had my R6 I rode it from March until 2 days before Christmas. I have no issues with riding in rain or cold or anything. Been there, done it. I would be perfectly comfortable riding everyday.

I do understand what everyone is saying. I need a vehicle. I don't want to get a $1,000 car that I'm going to have worry about falling apart on my way to work. And instead of spending $4-5 grand on a car, when we already have a car. I can have daily transportation in the form of the bike. I'm not trying to get a litre bike, I'm not trying to get a brand new bike. I'm looking at 2001-2003 600RRs/636s/R6s.

[Mr. Brett]

I love reading threads like this. Perfect example of why our country is locked in a credit crisis. Stupid people overextending themselves to buy shit they don't need and can't afford. If you don't wanna hear that what you're doing is stupid, don't post it on a public message board. It's commonly referred to as the Briones® Syndrome (a tendency to shamelessly post about your financial dipshittery on public message boards and then get pissed when people point out that you're dumb). As entertaining as it is, it does get kind of old and makes me feel sorry for the human race as a whole.

[Poncho]

Meh, if you're gonna waste the time insulting me in Jeremy's thread, at least put some effort into it. The trademark is a nice touch though.

[Mr. Brett]

No insults, simply stating facts.

[pOrk]

Jer, what size helmet do you wear? + have two kbc vr-2 helmets that are brand new i woud be willing to sell for 150 for both one is a l and the other an xl i think the inside paddingcan be had to make it fit a smaller size for 15 bucks on ebay

[RanJer]

Jer, what size helmet do you wear? + have two kbc vr-2 helmets that are brand new i woud be willing to sell for 150 for both one is a l and the other an xl i think the inside paddingcan be had to make it fit a smaller size for 15 bucks on ebay

Hmm.. Just looked on ebay searching for KBC.. went through it all but all I saw were replacement cheek pads as far as padding. I believe I wear a large, no idea for Amy.. Any pics? I'll keep looking around for padding..

[pOrk]

http://www.ridersdiscount.com/images/KBC/2007/83-8840VR2DragonRace_sm.jpg

This is the helmet, but mine are a solid blue chrome color with no graphics. I can't seem to find a photo online, and mine are in the attic in boxes at the moment.

[T-Bag]

Landmark will get you something. Go with an unsecured loan on a bike, the interest rate is 12.9% for 36 months but you will be saving money on an unsecured loan because you don't have to get raped for full coverage insurance.

4500 bike equals about 5600 after 3 years. If I would have went with a secured loan I could have went down to 8.2% but then again I would have been paying 1200 a year for full coverage insurance. Some people would be even higher for insurance. I could pay mine off tomorrow if I wanted to, but I want to keep the account open for at least a year.

[RanJer]

Landmark will get you something. Go with an unsecured loan on a bike, the interest rate is 12.9% for 36 months but you will be saving money on an unsecured loan because you don't have to get raped for full coverage insurance.

4500 bike equals about 5600 after 3 years. If I would have went with a secured loan I could have went down to 8.2% but then again I would have been paying 1200 a year for full coverage insurance. Some people would be even higher for insurance. I could pay mine off tomorrow if I wanted to, but I want to keep the account open for at least a year.

What all did you need to bring with you? Proof of M endorsement on license? Proof of insurance? or do you just tell them you want an unsecured for a bike and go from there?

http://www.summitcreditunion.com/summit.php?page=79

That place has a lower interest rate so we're gonna try there first. If all else fails we'll cruise to landmark.

[formul8]

Landmark will get you something. Go with an unsecured loan on a bike, the interest rate is 12.9% for 36 months but you will be saving money on an unsecured loan because you don't have to get raped for full coverage insurance.

4500 bike equals about 5600 after 3 years. If I would have went with a secured loan I could have went down to 8.2% but then again I would have been paying 1200 a year for full coverage insurance. Some people would be even higher for insurance. I could pay mine off tomorrow if I wanted to, but I want to keep the account open for at least a year.

That is awful advice.

You owe $5,000 on the bike. You drop the bike or it gets stolen. You now owe $5,000 on a bike that is not usable.

Then an unsecured loan for 12.9%? You would have been better off getting a credit card with a high limit, charging it and paying the balance off the next month and then leaving that account open. At least then, you will still have the credit line and pay ZERO interest on the bike.

BTW, If your rate is $1,200 a year full coverage on a motorcycle, you really need park/sell the motorcycle...

If the OP is fine with riding the bike year 'round in any weather, then the gas savings over a car would make sense. This WISCONSIN though... it is not practical IMHO, but it's his choice.

Just saying...

[Yooformula]

damm, my neighbor pays $150 a year for the insurance on his brand new Honda.....$1 a month during the winter months and the balance during riding season.

[BAD LS1]

damm, my neighbor pays $150 a year for the insurance on his brand new Honda.....$1 a month during the winter months and the balance during riding season.

Good driving records will do that for ya! im still kicking my self for the farm truck/colorado race thats still ******* me 3 years later to the exact day! But reality it is 800 a year for smallish cc ducati thats listed in the same clasification along the lines of a buel blast lol

[Josepy]

im at $250 a year on the chopper.

[Crawlin]

****, my busa was only 18x12 if i rode it the whole year. ($216). probably be the 150 if i stored it during winter

i gotta admit, not having insurance on something that you owe money on (somehow) is not a good idea.

just like the people that don't have insurance on the 25k Lincoln Town Car. If it gets totaled, that's $25,000 in home equity down the drain for nothing but a scrap heap

[T-Bag]

That is awful advice.

You owe $5,000 on the bike. You drop the bike or it gets stolen. You now owe $5,000 on a bike that is not usable.

Then an unsecured loan for 12.9%? You would have been better off getting a credit card with a high limit, charging it and paying the balance off the next month and then leaving that account open. At least then, you will still have the credit line and pay ZERO interest on the bike.

BTW, If your rate is $1,200 a year full coverage on a motorcycle, you really need park/sell the motorcycle...

If the OP is fine with riding the bike year 'round in any weather, then the gas savings over a car would make sense. This WISCONSIN though... it is not practical IMHO, but it's his choice.

Just saying...

You wouldn't be saying that if you talked to anybody under the age of 25 that tries to get full coverage motorcycle insurance. 1200 is CHEAP compared to some of the quotes my friends have received for nearly 8000/year for a new 600rr. That's only with 2 tickets on his record too, none were wreckless or racing. The cheapest he could find was $4300 / year.

So please tell me how that is awful advice for a guy that is looking for a loan. Remember, he's not looking to pay cash because he doesn't have the cash.

Chris, my motorcycle is insured. I just don't have full coverage. Liability and comp only. If it gets stolen its covered, just not covered if I drive like a ******* moron and crash it. I only pay $330 / year for insurance as long as its not full coverage. I'm not stupid enough not to have insurance.

[T-Bag]

What all did you need to bring with you? Proof of M endorsement on license? Proof of insurance? or do you just tell them you want an unsecured for a bike and go from there?

http://www.summitcreditunion.com/summit.php?page=79

That place has a lower interest rate so we're gonna try there first. If all else fails we'll cruise to landmark.

You don't need proof of anything. It's an unsecured loan because it is not secured against anything. You can use it for whatever you want, which just happens to be a motorcycle in this case.

[Yooformula]

my buddy, Chris is covered during the winter as well but he doesnt ride past october and doesnt need collision during storage. Its the same premium I have on my car during the winter, as long as its not being driven they cover damm near everything. I am sure it makes a difference but he is 33yrs old with a house and a kid and he rides a Honda cruiser.

[T-Bag]

my buddy, Chris is covered during the winter as well but he doesnt ride past october and doesnt need collision during storage. Its the same premium I have on my car during the winter, as long as its not being driven they cover damm near everything. I am sure it makes a difference but he is 33yrs old with a house and a kid and he rides a Honda cruiser.

Yeah being over the age of 25 makes a huge difference. Also the fact that it is a cruiser.

[Breecher_7]

Since were on helmets, could be yours for the right price.....

Nicky Hayden Replica.

http://i28.photobucket.com/albums/c249/antoninodamato/DSCN1898.jpg
http://i28.photobucket.com/albums/c249/antoninodamato/DSCN1899.jpg
http://i28.photobucket.com/albums/c249/antoninodamato/DSCN1900.jpg

[70 cutlass 442]

/\/\/\ good helmets

[Crawlin]

that's a badass helmet

[Breecher_7]

/\/\/\ good helmets

The best helmets......

And no, thats not even debatable...... :stare

[Breecher_7]

that's a badass helmet

:rolf Wanna buy it?

[formul8]

You wouldn't be saying that if you talked to anybody under the age of 25 that tries to get full coverage motorcycle insurance. 1200 is CHEAP compared to some of the quotes my friends have received for nearly 8000/year for a new 600rr. That's only with 2 tickets on his record too, none were wreckless or racing. The cheapest he could find was $4300 / year.

So please tell me how that is awful advice for a guy that is looking for a loan. Remember, he's not looking to pay cash because he doesn't have the cash.

Chris, my motorcycle is insured. I just don't have full coverage. Liability and comp only. If it gets stolen its covered, just not covered if I drive like a ******* moron and crash it. I only pay $330 / year for insurance as long as its not full coverage. I'm not stupid enough not to have insurance.

Exactly. :durr

How about this: save up cash and wait until he is over 25.

Until then, it is a financially terrible idea.

[Slow Joe]

Well, I'm a fan of Landmark CU... Got both cars through there... Pretty much just walked in, gave 'em my SSN and some info, and got approved... Then for the second car I said "hey we're looking at another car, can we do that?" he walked into his boss' office, and walked back out and said "yup, just bring us the contract from the dealership..."

[T-Bag]

Exactly. :durr

How about this: save up cash and wait until he is over 25.

Until then, it is a financially terrible idea.

So you're saying no one should have fun or allowed to drive a motorcycle that is over 25 or if they can't pay cash? That's ridiculous thinking. I've had 3 bikes and I'm 22, my first one I got at age 19. Some of my friends have been riding since age 17.

If you can easily afford to make the monthly payments on time, why is it a financially terrible idea? Its not.

[easytoremember]

us bank ftw.

[pOrk]

Tony, what size and shape is that arai?

Full Coverage Insurance on a sport bike is silly for anyone under the age of 25, its over a grand more then liability alone with a clean driving record.

[T-Bag]

Tony, what size and shape is that arai?

Full Coverage Insurance on a sport bike is silly for anyone under the age of 25, its over a grand more then liability alone with a clean driving record.

Exactly, its completely ridiculous and really has no justification other than the squids ruining it for most.

[formul8]

So you're saying no one should have fun or allowed to drive a motorcycle that is over 25 or if they can't pay cash? That's ridiculous thinking. I've had 3 bikes and I'm 22, my first one I got at age 19. Some of my friends have been riding since age 17.

If you can easily afford to make the monthly payments on time, why is it a financially terrible idea? Its not.

A fool and his money are soon parted. ;)

[Monstr913]

i use educators credit union and they will give you up to $10,000 on visa platinum card unsecured and all my interest rate on that is 8%...so long as you have fairly good credit rating...

[Moparjim]

I would recommend just lowering your expectations a little. You can get a "decent" bike for around $2500 which you could swing either at least partly in cash, or on a lowish interest rate credit card, or unsecured loan, or refinance the bug and pull out as much cash as you can like you said probably a grand or two depending on how they value it. Then you wouldn't have to get full coverage insurance on the bike, just liability which will save you a ton. I got my 97 CBR 600 F3 for $2500 recently with 12K miles and a ton of extras/mods. Its not perfect but its in nice shape and the 600CC sportbikes are still plenty fast enough to be fun...

[Nix]

I really want to get a bike :(

Haven't ridden one in over ten years though and knowing my luck I would end up dead...

Jeremy pay no attention to the shitters do as you wish, life is a learning experince all on its own regardless if you do it one way or the other.

Good luck buddy. :thumbsup

[formul8]

And we wonder why most Americans are in deep financial debt and our national savings rate is in the negative for the first time since the great depression....

[Want_Notch]

And we wonder why most Americans are in deep financial debt and our national savings rate is in the negative for the first time since the great depression....

No one seems to care but you and Jon.

So your as perfect as God himself I am assuming; since you have decided to impart some of your all knowing wisdom upon us mere mortals.:loser

[formul8]

No one seems to care but you and Jon.

So your as perfect as God himself I am assuming; since you have decided to impart some of your all knowing wisdom upon us mere mortals.:loser

Financially, yes. Highest FICO bracket there is, zero debt other than a low interest car payment and and plenty of money in the bank. I do not make a rich man's income, either.

Save up the money, wait until 25 and enjoy without going into debt for it. Pretty simple.

Sure, i like paying 10-15% extra in interest for things I do not really need....

To each his own and it is your hard earned money anyways. ;)

[Mr. Brett]

No one seems to care but you and Jon.

So your as perfect as God himself I am assuming; since you have decided to impart some of your all knowing wisdom upon us mere mortals.:loser

You don't have to be omnipotent to realize that going into high-interest debt to buy something you don't need is a bad idea. He was just trying to give the guy some sound advice. Given his situation, he's obviously made some pretty bad credit decisions in the past and needs some guidance. Normally I would agree with formul8 and say to each his own, but our current economic situation is a direct result of morons like this going into debt that they can't payoff and then burdening the rest of us with it in the form of higher interest rates and a weakened dollar. THAT affects me directly and is the reason why I point out the incredible stupidity of situations like this. There's nothing wrong with buying toys (such as a bike) at a young age if you can AFFORD IT. If you have to go online and ask people how to get high interest loans and such, you obviously can't and are about to worsen your already tenuous financial situation. Lashing out at the one guy who's trying to give this kid sound financial advice isn't doing anybody any favors.

[Want_Notch]

You also have to realize that he is an adult with the capacity of making his own choices. While they may not be good ones. Who's place is it of yours, formul8's or anyone else's to dictate how he should live his life and what he should or should not do?

Like stated earlier this thread was about where a was a good bank or CU to aquire a loan from. NOT Hey everyone tell me I'm stuipd for trying to get a loan.

[Mr. Brett]

No one told him how to live his life. He was just given some advice. He made it everyone's business when he posted on a PUBLIC MESSAGE BOARD. He might as well have taken an ad out on the paper. Use your energy to help guide the kid towards making the right decision, not defending his stupidity and bashing the guys trying to help him.

[formul8]

You also have to realize that he is an adult with the capacity of making his own choices. While they may not be good ones. Who's place is it of yours, formul8's or anyone else's to dictate how he should live his life and what he should or should not do?

Like stated earlier this thread was about where a was a good bank or CU to aquire a loan from. NOT Hey everyone tell me I'm stuipd for trying to get a loan.

You are right. He is an adult and is free to hang himself with his own financial rope. This is a free country and you can pay up the ass for crap because you can. Like I said, it's your hard earned money- do with it what you wish.

Stupid me to give the kid some sound advice.... :slap

[Want_Notch]

I'm not defending him at all. But this post wasn't about needing long term financial advice. It was about a good place to get a loan. If he is going to make a not so good descion then he's going to do it reguardless of what you, me or the pope says.