Financing a sled with bad cred

[GYMBRAT]

Just wondering who/where would a guy finance a new/newer sled with bad credit? My son can throw down a couple grand no problem. Makes AWESOME cash on the drilling rigs as a Motorman. Just wants a good trustworthy newer sled and he is not brand specific?

 

[Vertical-Extreme]

Finacing a sled with bad cred

Maybe there is a reason for the bad credit and he should SAVE up enough money to purchase a sled outright. If he makes that much money it should only take a month or so...


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[GYMBRAT]

Re: Finacing a sled with bad cred

Maybe there is a reason for the bad credit and he should SAVE up enough money to purchase a sled outright. If he makes that much money it should only take a month or so...


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He just has other priorities atm and doesnt want to fork out all his savings by paying cash outright. No need for me to explain why his creds bad of course, Was just asking is all.....

but thx, Mr.Obvious

 

[MATTIAC]

Re: Finacing a sled with bad cred

Maybe there is a reason for the bad credit and he should SAVE up enough money to purchase a sled outright. If he makes that much money it should only take a month or so...


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Only way to fix your credit is by waiting 7 years or trying to rebuild it like he wants to do.

 

[GYMBRAT]

Re: Finacing a sled with bad cred

Only way to fix your credit is by waiting 7 years or trying to rebuild it like he wants to do.

Or go to "Mac James Motors" and pay 30k in the end for a 5k vehicle at 27% interest LOL

Theres gotta be a "Mac James Sled sales" out there no?

 

[bdietz]

Re: Finacing a sled with bad cred

go talk to Tim at camrose arctic cat he will find something im sure

 

[GYMBRAT]

Re: Finacing a sled with bad cred

go talk to Tim at camrose arctic cat he will find something im sure

Thank you bdietz! Now this is more like the answer I was looking for originally






Most everyone who wrks for a living knows all there is to know about having "NOT getting" bad cred already.

 

[fnDan]

Could try LMG Finance.
http://www.lmgfinance.ca/

 

[GYMBRAT]

Could try LMG Finance.
LMG Finance Inc : Welcome to LMG Finance

Thats a pretty decent site mang thx, just txted it to him

 

[Cat401]

I doubt that any credit inst. is going to give credit to a "bad" risk for a sled.....unless he wants to pay 18% +.

Best thing to do is have a co-signer.....

Dad, if you believe in him, sign your name next to his....

 

[GYMBRAT]

I doubt that any credit inst. is going to give credit to a "bad" risk for a sled.....unless he wants to pay 18% +.

Best thing to do is have a co-signer.....

Dad, if you believe in him, sign your name next to his....

Oh I will if needed, but 1st he can do his homework Ive always bailed him out. Gotta learn sometime even if its the hard way. I did!

 

[poo88]

Oh I will if needed, but 1st he can do his homework Ive always bailed him out. Gotta learn sometime even if its the hard way. I did!

In the end it will make him a better person and more appreciative of what he has.. That's what some smart ol bugger told me once anyway lol

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[rzrgade]

The best thing you can do for him is a convince him a good credit rating is more powerfull than any sled built right now,or in the distant future.........I know ,easier said than done.
Later in life ,he will thank you, trust me !!!

 

[AreWeThereYet]

Thinking putting a transmission in his truck so he can get to work is more important than a sled,.. just saying.

 

[Jasonschaaf]

Co-sign is the best way to get a sled for him and build his credit up but it will go against yours for the amount

 

[thunder44]

Could try LMG Finance.
LMG Finance Inc : Welcome to LMG Finance

LMG may finace you but it will screw up his credit rating even more. They send out your credit score to ever lending company and bank that exists and that hits you credit score like crazy. When we went to buy a Commander the dealer talked us into going through LMG , they said the interest rate would be better than our bank. A few months later we did a check on our credit rating and we had lost 65 points off the credit rating.I don't suggest anyone use them. Your bank can usually give you a good interest rate in you talked to them.I realize that you were asking about where to go , I just wanted to give you a heads up about LMG

 

[gotboost]

He can come see my wife she is a loan's manager at the bank she might be able to help him out

 

[Braddock54]

Most younger people wouldn't have a clue what their credit looks like, good or bad. The two credit bureaus are notorious for inaccuracies and incorrect information such as your address, employers, etc, and these little discrepancies can screw up a credit applications (mismatched addresses etc). I have found that you have to be all over these people to fix it and keep it current. It's a huge pain. My advice to him is to be pro active and fix it.

You can make all the cash you want but credit is still pretty critical and take a long time to fix if you have Phu*ed it up somehow. Even things like being more than 30 days late on a payment will hang around for awhile.

new sleds are sweet, but I would say forgo it and work on his situation. It will be more worth it in the long haul. Take it from a young guy who knows. Paying anything more than like 6% on a toy is mental. Even if you have the cash to pay it right away, the hit by the 'hard' inquiries on his credit file is sooo not worth it!

 

[omullinger]

I would fix the credit first, I made some mistakes too, but also had issues with a credit card company reporting my card past due when I have made every payment since I had it in 08, fixing that alone bumped me 90 points. Get an equifax credit report on their site. Costs money but may save money in the long run.

 

[Pinner]

Originally Posted by Cat401
I doubt that any credit inst. is going to give credit to a "bad" risk for a sled.....unless he wants to pay 18% +.

Best thing to do is have a co-signer.....

Dad, if you believe in him, sign your name next to his....

Oh I will if needed, but 1st he can do his homework Ive always bailed him out. Gotta learn sometime even if its the hard way. I did!

Therein lies the problem...

Let the boy figure it out, and become a man.