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Getting a loan with bad credit.
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Posted by Tom
(24.47.22.209) on April 29, 2002 at 02:10:54:
I have 3 chargeoffs that are approx. 2 1/2 years old. I have settled one the other 2 are unpaid. I am currently looking into buying a new motorcycle. I was wondering what the odds are of getting approved for a loan if I was to put $4,000 down on an $8,000 motorcycle and don't have a cosigner. I asked the guy at the dealership and he said that being I was putting such a large downpayment down that it shouldn't be a problem to get financed. I didn't have him try to get me approved I only mentioned my situation and wanted his opinion. Is it likely that i could get approved? I wanted to ask all of your opinions before i bother to try to get the loan. My credit since then is good. I have posted on this board a while back and everyone that replied to my other post was very helpfull. Thanks in advance for any insight to my dilema.
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