Getting a title loan?

[89stangGT]

I'll sell you a good title for $500. '06 Yamaha FZ1. lol.
bike was stolen.

[GE]

Generating dollars is not an issue.

Apparently it must be, otherwise you wouldn't be having to borrow $2,000 to get a bike that you probably don't need.

[svauto-erotic855]

Good credit goes to people who are credit worthy. IF YOU HAVE EVEN CONSIDERED a title loan FOR ANY REASON you are not and never will be credit worthy.

[slow06]

Good credit goes to people who are credit worthy. IF YOU HAVE EVEN CONSIDERED a title loan FOR ANY REASON you are not and never will be credit worthy.

A little harsh, but I agree with his point. Don't get a title loan to rebuild your credit. If something comes up you will get killed with interest charges. Then you may lose your car, have even worse credit, and be left with only the bike.

Become Disciplined. Get a credit card, use it in a disciplined manner (IE only for things you actually have the cash to buy), and pay it off every month. Save up and buy that bike cash. In my opinion you will appreciate that bike more a year from now having to work for it than you will using someone elses money to get it immediately.

[Rough Customer]

I don't need a bike, correct. I already have 2. But I found one that I would like to have for a very good price. I do not generally have a lot of spare cash on hand because I put 26% of my gross earnings in to my 401k and spend the rest on fun things. I bought the Sentra from a friend for $8k and paid it off in 10 months without any reduction in 401k contribution amount. I make good money, I just don't have any credit. I could just pull a couple of Gs out of my 401k but that would take several days and I really do not want to do that anyway.

RC

[Baron Von Crowder]

I hope its for my bike...

[4king]

I don't need a bike, correct. I already have 2. But I found one that I would like to have for a very good price. I do not generally have a lot of spare cash on hand because I put 26% of my gross earnings in to my 401k and spend the rest on fun things. I bought the Sentra from a friend for $8k and paid it off in 10 months without any reduction in 401k contribution amount. I make good money, I just don't have any credit. I could just pull a couple of Gs out of my 401k but that would take several days and I really do not want to do that anyway.

RC

Let's take a step back and look at this

You want to buy another bike and you make good money but can't pull enough to make $2800 in two weeks. You are 28 years old and do not have enough credit (you think) for a personal loan

What you really should be doing is trading that sentra in for a new car. I know it sounds stupid but the best thing you can do to build credit is to finance something

You bought a car in payments from a friend which did not build any credit (btw sentras sold for $12k brand new, I remember they were giving them away free if you purchased a new Titan for sticker price)

I can't say as far as priorities having 4 cars myself, but get your self a nice truck for 15k and you can haul the other bikes around. Title loans are just scams to get money from people, you are above that

[Skidmark]

PM me, I work at a credit union and our title secured loans have the same interest rate as a new car purchase.

Scott

^

Your best bet is here.

A credit union will report to the bureaus when making payments, not just when you miss a payment. Looks like the interest rate is low too.

[GE]

Rule #1 on this board. If someone brags about "making good money", they probably don't.

26% into a 401k? Is your company match just that great?

[slow99]

rule #1 on this board. If someone brags about "making good money", they probably don't.

He told us it's < $65,384.62

[Grape]

< $65,384.62

wharz lambo?

[347Mike]

wharz lambo?

Next to his Maserati.

[Nash B.]

He told us it's < $65,384.62

Haha! Math is fun! I like that he used 26% instead of "about 1/4". It could've gotten him a few thousand more a year.

[Damnittsteve]

PM damnittsteve

you asshole! he actually pm'd me looking for help!!! i dont even know what to tell him

[2011GT]

you asshole! he actually pm'd me looking for help!!! i dont even know what to tell him

Lol! Ok I'm done with that long running joke