Question by Travis: Some info on personal loans?
This is a bit long, sorry.
So here’s the situation, I asked a question previously here about banks vs finance companies and people were dicks about it not answering the question, countering it with other questions, which I didn’t mind. so.. I’m a young adult, (19) trying to get a motorcycle, I currently have a motorcycle financed. but it’s small and I’m looking for something that can handle the highway better. so that’s what the personal loan is for, as someone on my last question asked, said it mattered. And yes, I can afford the insurance, as that’s the point of a personal loan instead of financing the bike.
so the thing is.. I applied by myself for a personal loan without a cosigner for 2708$ at my bank, they based that amount off of my income. my annual income is 15,000$ , my credit score is around 680. and nothing has been paid late. however. I was denied with the reason “not enough credit history” the bank suggested a cosigner, so I got a cosigner. and applied for 3500, once again. based off of our split income. (suggested by the bank) and I was again denied. they told me in 6 months to a year and a half I’d be able to get it on my own. whatever, that sucks. so I crunched numbers and have figured up. in a month from now I can come up with the majority of the money. however I’ll still be 1000-1500$ short.
So my question is, would I be more likely to get a personal loan for simply 1,000$ after have been being denied for a greater amount twice? I have to use my bank because the 3 finance companies near where I live were saying 23% interest minimum, with a car title AND atleast 50% of the loan worth in household appliances as..”insurance(?)”
People were saying how they sided with the bank, and how immature I am, and blah blah blah. I’ve looked at this from a lot of different angles and I understand it’s not life and death. but bikes are my hobby and it’s been a dream of mine since I was a child. Thanks!
Answer by bluebell
I’m surprised nobody mentioned credit unions to you. You join as a member, save some amount regularly for several weeks (in my credit union it is 10 weeks) and then you may apply for a loan. If you are looking for a smaller sum (like the $ 1000 you mentioned that you will need in a month’s time) they may let you apply for a loan quicker. Also, they won’t bleed you dry with their interest rates. Having a loan there and repaying it faithfully will also improve your credit score.
If you can just be $ 1000 short of the full price in a month, my other suggestion is to delay your purchase for 2 months, and by then you might have the full amount in cash. No interest to pay, but it won’t help your credit score either.
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Question by beavis: I’m close to the edge, need advice on life?
I’m 17, for the past two years I’ve been working hard not to end up a loser. I haven’t gotten laid yet, I have no job, and no car. But I’m working hard for all those things. I’ve been washing cars everyday I have about 1600 dollars, but every car I want has “high insurance”. The reason I want a car is to get laid, meet people, and drive to work, but I need a job to pay for my car so I look for a job but I need to be 18, without a job I can’t get a car, and without a car I can’t go on dates. So I made a deal with my parents that if I don’t get tickets and get straight A’s they’ll help me get a motorcycle, but I can’t get a motorcycle I have to pick my brothers up from school. I’m so alone in this world and so fed up of constant unfullfillment, by the time I’m 18 I won’t be able to date girls younger than me so what’s the point? If I’m not allowed an ego like the rest of you I just want to join a military and die already
Answer by Adam
NEVER EVER give up! You are not alone! God is with you. Go to dating websites. Put up profiles. Find jobs around the neighborhood. Go to car dealers. You earn that money! You can't just say I WANT A CAR and a car pops up. That's what life is! Obstacles and earning. And if you want to die you need a suicide watch. And why are you in adolescent
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Question by SHiLLySiT: I want to buy a Scooter?
So I’ve recently become a college student (Yayyy) and transportation has become very important; need to get to and from school as well as getting to work. I don’t come from a very wealthy family so I was already looking at waiting for a long time to get a car of my own.
Then today I saw a man on a scooter and I was like, hey! Those must be cheap! Sure enough, I was finding some brand new for $ 700ish. (Obviously I am going to buy one used because its cheaper) I also looked up the laws in California regarding scooters and I DO NOT need a license, registration, or insurance. So this all saves me money!
My problem is, I don’t know where to start. I want a scooter that gets good gas mileage (I saw one that said 100mpg!) and is durable/reliable. Not to mention one for a good price. I know craiglist is a good place to go for used, but what models of scooters should I look for? Any other sites that would be a better alternative to craigslist?
Answer by Dan B
Anytime you buy USED transportation, you are buying someone’s problem child. Used ones on the market may be near the end of their useful life. No one gets rid of a perfectly running mode of transportation unless they are desperate. I would buy new if at all possible. You’ll at least get some kind of guarantee.
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