Buying a sled with poor credit

[theslam19_98]

Ok I have been trying to buy a sled but keeps saying I need a co signer so been looking on Google there is places that will give you help with buying one with bad credit any one ever try any of these places very interested in finding out more

 

[ABMax24]

Ok I have been trying to buy a sled but keeps saying I need a co signer so been looking on Google there is places that will give you help with buying one with bad credit any one ever try any of these places very interested in finding out more

Those places are called predatory lenders, they often make your credit look even worse as future lenders see you took such a high risk loan. Either get a co-signer or better yet pay with cash.

 

[the_real_wild1]

Just buy a cheap one if you need to. Don't go high interest loan.

 

[rightsideup]

Those places are called predatory lenders, they often make your credit look even worse as future lenders see you took such a high risk loan. Either get a co-signer or better yet pay with cash.

if you cannot get credit if you get a loan as he describes and loss the sled you will be worse off. Just save and rebuild your credit you will just be doing yourself a favor.

 

[rzrgade]

If you can't pay the loan off ... You won't be able to ride with two broken knee caps either .
Don't make a bad situation worse !


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[ferniesnow]

You got the name of those lenders up above..................terrible situation to put yourself into. IMO, you would be going from the frying pan to the red hot fire!

To get your credit rating on the plus side it will be a lot of hard work. You will need to pay cash for most things that you buy and you will have to demonstrate to a financial institution that you have matured and can handle the responsibility of borrowing. It is a hard concept for a lot of young people to comprehend. I speak from experience with a few sons who have not looked after their money and I have learned that I will not co-sign for anything. Pay cash for toys and hopefully you will have a good enough credit rating by the time you require a mortgage or a vehicle loan.

 

[the_real_wild1]

It isn't just the young. Old guys have trouble with credit too. I have always used credit and things have been tight but we have worked to get ourselves closer to being out of debt. We will always have the vehicle and house debt but we are closer to getting rid of all credit card debt as well. It is a tough thing to get rid of.

 

[Lund]

Buying a toy on credit is one thing when your paying part of it with cash and getting the balance at a reasonable rate but buying on credit the entire toy when you have no credit from a high risk leader will definitely bury you in an never ending hole.
Do your self a huge favor and take heed of ALL the advice given above.
Another thing to think about is having the toy, in your case a sled is only half the equation, sledding as a whole is not cheap anymore. Fuel cost, transportation cost, trail pass and riding gear is all but the beginning of an expensive hobby.
So if you can't get into one in a reasonable way, how do you expect to use it, given all the additional cost's.
My advice, look and get a good used one and pay cash.
One that fits your budget, you'll be happier.

 

[arff]

Everyone is giving you good advice. Clear up your credit rating.

Move forward responsibly. I know we live in a I want it now world.

But a poor credit rating will really hurt long term.

Good luck.


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[snochuk]

A bad credit rating will haunt you for years when you want to make a real and important purchase like a house.
How much do you want to put at risk for the next 10 years because of a default.
Really not worth screwing your future for a toy that's going to have a high operating and maintenance cost also........sleds cost way waay waaay more that just the purchase.

 

[pfi572]

If you can ? Take on a second job working weekends or longer hrs.
Wants and needs ?
Need roof over your head , food and transportation most times.
Most everything after that will be wants and best to pay cash or do without till you can afford it. IMO
Lived buy this all my life and had to do without a lot a times but pays off later in life.
My 2 cents

 

[rzrgade]

Ironically, It's one poor decision after another that obviously necessitated a requirement of a co signer. That fact alone should tell you what the right course of action should be moving forward...

In these new uncertain times , now more than ever is not the time to take on more unmanageable debt....IMO


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[Pistonbroke]

Ok I have been trying to buy a sled but keeps saying I need a co signer so been looking on Google there is places that will give you help with buying one with bad credit any one ever try any of these places very interested in finding out more

Try for a Personal Line of Credit with your bank. Way better interest rates, plus you get the opportunity to build your credit rating by paying back on the line.

 

[deaner]

Try for a Personal Line of Credit with your bank. Way better interest rates, plus you get the opportunity to build your credit rating by paying back on the line.

Term credit is easier to get approved for and is better for your credit rating. Even if you are making all of your payments on time, revolving credit actually hurts your score a bit if you are near your limit.

 

[X-it]

Most people need a loan to buy a house. Now instead of making your payments as high as your income.. try the reverse of this. Get paid interest while your saving to buy your sled. That way you get a perspective of what money is...or you will wind up like Trudeau not having a clue.

 

[Skegmeister]

The rich stay rich because they spend like they are poor. The poor stay poor because they spend like they are rich.
Buy used sleds, cost of a couple year experienced sled is almost 30% - 50% less than new.
Buy what you can afford in cash as it is a want not a need. Best way in long run.

 

[T-team]

Selling these things.. I do see this alot. Sometimes you need to take a moral high ground and steer someone away. Honestly getting a machine... or ANYTHING from a predatory lender is going to do you more harm than good. Not my place to say it but... A move like that is a step in the wrong direction. Its nobody's business to tell you to just "pay cash".... Not everybody HAS cash.. banks can be very useful if done properly and at the right time! Get a co-signer.... its not going to do A LOT for your credit rating but work at it until you can get their name taken off. Trust me your credit rating is more important than your pride.

 

[kanedog]

What were the circumstances that led to the poor credit history?

 

[theslam19_98]

Young had no credit a few cell phone problems I have been busting my but to get my credit clean I bought a new car two years ago at 30 % interest after had that for a year traded it in got down to 18 % I know they are hight but I am trying I have paid off some old bills just three left

 

[X-Treme]

Pay them off. Don't add another one. Live within your means.

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