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Discussion Starter · #1 ·
I have a quick question and need just some fast advice.. Im 24, decent credit score (750) and looking at just getting a small commuter. A situation I am having is I have been trying to buy a house(mobile home, have land already.) Everywhere I have been, even the bank i am employed by, has said that even though my Credit Score is good, my Credit Limit is alittle bit low.

My Fiance and I, me mostly lol, came up with an idea, which she is actually following me, finance this bike instead of buying used, pay it off within a year, have a higher credit limit, then buy the house. Have tried to just raise my credit limits on my cards, which has not changed since i was 17, opted out of the auto increase years back, so they have stayed the same, right at 1000, now being told they cannot raise them because of the situation of the economy. Seem like a decent idea? or am i a fool lol. I would buy used, but just seems like a win win for me this way.

Also, what is everyones views on the cbr vs the ninja 250r, which is 500 more?
 

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Get an auto loan and pay it off, its better for your credit score than financing because that is basically signing up for a credit card and maxing it out which is NOT good for your credit score. A loan is much better to raise your limits. I think the minimum is 5k and that's a personal loan*.


*My bank
 

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They both are great starter/commuter bikes. I would try to find a used Ninja 250(they are usually around 3K max). Credit unions are better about moto/car loans so you might want to talk to someone at a CU and see what they say. Nice to see someone your age being responsible.
 

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Personally, I'd buy the CBR, but that's because I'm a Honda guy, and for reasons I'm not even sure of I hate the idea of owning a "ninja". There is nothing wrong with them, I just don't want to be like every other yabbo around here with a ninger, or gixxer.

But to a friend, I'd probably recommend the kawi, because of the availability of parts and HUGE base of riders.


With that in mind, why not buy used from a dealer?
 

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Discussion Starter · #5 ·
I would go used but the only bikes they have used right now are a er-6n and a klr650. If i was to get a good rate from the dealership wouldn't it still be ok to just go through them since its basically through a lender just like bank

Sent from my N860 using Motorcycle.com Free App
 

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I would get the bike if you want it but dont use it to just build credit get what you will enjoy. I just bought my house in january with a little better credit score and had a couple places fighting for me so its not the score hurting you. I was told by both places that they had no problem doing convention or manufactured houses but mobile homes not a chance in hell so they probaly arent being honest with you.
 

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Discussion Starter · #8 ·
I wouldnt only being buying a bike for a higher credit limit, I've always wanted a motorcycle for myself. LOL slimesbro, if it was only that easy to make more money. If you can give me the promotion ive been trying for, please do.
 

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I would get a suzuki something instead before the end of the month. Use the 0% financing so you can take a loan to build your credit that doesnt cost you anything to keep.
 

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Discussion Starter · #10 ·
I know this is gonna sound just sad, but i let my fiance see bikes like the ninja 650, sv650, gs500, etc. She is like one of the other posters about not feeling comfortable about bikes, so its kind of a compromise, and also price. I want something that when i finance or get a loan, i could pay it off in no time, and something under 5k, which the cbr would be, wouldnt take me long at all. I am going to talk to our employee loan officer today about a personal loan towards the bike to see what the % would be that way.
 

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Don't forget that if you finance a vehicle, you need to get full coverage insurance on it.
If you can pay off a personal loan quickly, go for it. Otherwise just look at something a bit cheaper/used that you can pay with in cash.
 

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Buying a new bike, you are throwing away all the depreciation soon as you roll out the door.

Finance a used bike at a credit union. Dealers take a much larger cut and work that into the price.
If you still have a couple nickels to rub together finance a flatscreen, laptop or microwave as well.
 

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Buying a new bike, you are throwing away all the depreciation soon as you roll out the door.

Finance a used bike at a credit union. Dealers take a much larger cut and work that into the price.
If you still have a couple nickels to rub together finance a flatscreen, laptop or microwave as well.
Get a good deal and there is no depreciation to worry about :)
 

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Get an auto loan and pay it off, its better for your credit score than financing because that is basically signing up for a credit card and maxing it out which is NOT good for your credit score. A loan is much better to raise your limits. I think the minimum is 5k and that's a personal loan*.


*My bank
This is generally correct but I believe that Honda finances through the same arm as their automotive division. Look into that because if that's the case, you will get the same credit benefit.
 
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