when buying a new sport bike and someone is co-signing for you, does it matter if you have a job. like if you work construction under the table will they still give you the loan?

 

I would not think so. If you have no documented pay why would they loan you their money? Know what I mean.

 

everytime i have gotten a loan(thayt would be once) i had to bring it my last 3 pay stubs.

 

really cause when i got my accord im pretty sure they didnt ask to see that because i had a cosigner

 

I believe you can also go by your bank statements. You can show that you've been getting some kind of an income through your statements, which might count as a source of income. But if you have a co-signer, you should be ok. It'll also depend on who you talk to.

 

If you have a cosigner, it is basically that person taking out the loan because it is their credit history and finances that determine the amount and a yea or nay. It is also their butt on the line if you neglect to pay or default. A lot of cosigners don't understand this when they sign the contract.

 

yea hopefully ill get the loan because i have steady pay and like 4 grand to put down and my mom knows i would never not pay a loan she signed for

 

When my roommate and I recently bought and financed new 600's from yamaha and kawasaki, he used a co-signer for kawi and I didn't for yamaha. We were both asked to fill in an amount of yearly income, but neither of us had to verify it at all. Take that for what it's worth.

 

if your co-signers credit is strong enough, then most lenders wont even look at your credit or income at all. if your co-signers credit sucks, then it may take your combined efforts to get the loan

with 4k down, i think it would be hard NOT to get approval lol


so what bike are you gonna get?

 

no bro.. im on the same boat

i work for a restoration company.
I have no credit
my dads gonna co-sign for me
that will help me with credit
having a co-signer and a job under the table does work. you just cant sign for urself. you need a co-signer. like i repeated lol

edit: i dont know about the loan part. lol

 

As I said, I applied with no co-signer, with no job, with no paystubs. I'm 22. I just put down that I earned a certain amount per year. That's all. I watched the salesman plug it all in, it's an application they fill out online through yamaha's website. I was approved for $8k for an R6 which was all I applied for. I have a high FICA score which probably helped.

Do you have any credit?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Nims &raquo;</TD></TR><TR><TD CLASS="quote">As I said, I applied with no co-signer, with no job, with no paystubs. I'm 22. I just put down that I earned a certain amount per year. That's all. I watched the salesman plug it all in, it's an application they fill out online through yamaha's website. I was approved for $8k for an R6 which was all I applied for. I have a high FICA score which probably helped.

Do you have any credit?
</TD></TR></TABLE>

you should work on your credit...

when i went to buy my 600rr,my friend co-signed.i didnt need anything,they just asked me my income per month i believe,because my friends credit was so strong.

after he co-signed for me,he went back to the same place a few days later and got 2 more bikes under his name,crazy. he is 22 and has a credit score of 799

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by eg6T &raquo;</TD></TR><TR><TD CLASS="quote">you should work on your credit...
</TD></TR></TABLE>

Did you read anything I said? I'm 22, I didn't have a co-signer or a job, and I was approved for all that I applied for. How much better could I have done?

 

remember if you finance you will prob have to pay insurance...and it won't be cheap...FULL COVERAGE to protect the bank's assets

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Nims &raquo;</TD></TR><TR><TD CLASS="quote">

Did you read anything I said? I'm 22, I didn't have a co-signer or a job, and I was approved for all that I applied for. How much better could I have done?
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yes i did read it,which u said u have 0 credit,so i say you should work on your credit...

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by ngng &raquo;</TD></TR><TR><TD CLASS="quote">remember if you finance you will prob have to pay insurance...and it won't be cheap...FULL COVERAGE to protect the bank's assets</TD></TR></TABLE>
Please check insurance before financing. Different banks and CU's do things there own way hence the many answers. Check a credit union for your loan.

 

I just refinanced mine, my father had co-signed originally, but it was with HSBC and the rate sucked. I just went to lending tree and Capital One sent me a much better deal. I might have fudged my yearly income a bit (it was just one zero), regardless they sent me the check.

 

Normally most lending institutions aren't going to check up on you. If you tell them you make a certain ammount a month and that you have been employed at a certain place for X ammount of time (preferebly over 6 months) they aren't going to check. The only thing they are really worried about is your credit score and if you actually have some income.

When I bought my Scion I had only been at my new job for like a month and a half well they wouldn't loan as easy on that so I wrote down that I worked for my cousins company for the past year and half and didn't even mention my real current employer. No one checked so no one knows and I got my car at the deal I wanted.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by eg6T &raquo;</TD></TR><TR><TD CLASS="quote">yes i did read it,which u said u have 0 credit,so i say you should work on your credit...</TD></TR></TABLE>

Please show me where I said I have no credit.

I believe I actually stated the contrary, that I have a good FICA score. (A.K.A. GOOD CREDIT)

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by ngng &raquo;</TD></TR><TR><TD CLASS="quote">remember if you finance you will prob have to pay insurance...and it won't be cheap...FULL COVERAGE to protect the bank's assets</TD></TR></TABLE>

I was very suprised that for the Yamaha card no specific insurance was required. They would've let me walk out the door with only liability. Seems kind of stupid.

I have full coverage with low deductibles however.

 

well everyone was right i just got approved for a 600rr i will be picking it up on monday