ComputerHunter.org |
|
|
|||
|
 |
5 Steps To A Better Motorcycle Loan With A Better Credit Score
It is common knowledge that motorcycle lenders base high importance on your FICO credit scores when approving motorcycle loans. However, what many people overlook is that their FICO credit score can highly impact the term on their motorcycle loan along with the interest rate that is assigned to the motorcycle loan. In order to gain better motorcycle loan rates it is important that you think of your FICO credit score as a picture of how risky you are to the lender. Your FICO score is essentially a benchmark which lenders use to grade you and assign a risk to you when applying for a motorcycle loan. Since factors about your credit change on a daily basis so can your FICO credit score. The below 5 steps are designed to help ensure you improve your creditworthiness as your credit score changes. Ultimately these steps should help you obtain better motorcycle loan rates in the future. Watch Your Debt? Keep your account balances below 30% of your available credit limit. This is especially true with your credit card because many motorcycle lenders see credit card debt as more risky. If you have a credit card with a $5,000 limit, you should try to keep the balance owed below $1500 when you apply for a motorcycle loan. Make Your Payment On-time - Paying your current credit bills on-time is one of the biggest factors that contributes to a higher FICO score. Typically when motorcycle lenders see potential customers that do not pay their bills on-time then they either decline them or issue a motorcycle loan at a much higher interest rate. Late payments, collections and bankruptcies have the greatest negative effect on your credit score and how lenders rate you when getting a motorcycle loan. Establish Credit Early ? Time is very important part of improving your FICO score. Therefore, it is recommended that you start building credit early. Getting one or two credit cards can significantly help build credit. However, the key to this strategy is keeping your purchases small and frequent and paying off the balance every month on time. When establishing credit you should also keep the oldest account on your credit report open in order to lengthen your period of active credit use. The length of your credit history can make a big difference in getting approved for a motorcycle loan. Avoid Excessive Credit Inquiries ? A credit inquiry normally happens when you apply for credit. If you have a large number of credit inquiries in a short time period many motorcycle lenders see this as a negative since it affects your FICO score. Therefore, when you are applying for credit or shopping for motorcycle loans be careful how many times your credit is accessed. Be advised that sometimes motorcycle dealerships will pre-screen you by asking you for your driver licenses and social security number. Normally this results in a credit inquiry on your credit report. Be prudent in shopping for credit and motorcycle loans. Check Your Credit Regularly ? In today's age it is easy to get online to check your credit. Checking your free credit report regularly is very important because it can help you uncover inaccuracies that are affecting your FICO credit score. Don't let your credit health suffer due to inaccurate information. If you find an inaccuracy on your credit report contact the creditor associated with the account or the credit reporting agencies to correct it immediately. Copyright (c) 2005, by Jay Fran This article may be freely distributed as long as the copyright, author's information and the following active live link with anchored text is published with the article: About The Author:
Google News - Top Stories
|
|
|
|
RELATED ARTICLES
How To Make Your Own Vintage Motor Cycle & Automotive Spare Parts Vintage Car & Motorcycle restoration enthusiasts all share one thing in common... Ride Hard - Hydrate Harder This summer is showing all of the signs of being a hot one. Temps have already been hitting the 100's here in the Midwest. With that kind of heat we have to remember that when we are out there riding, we are at it's mercy. When you're riding the possibility of get dehydrated and hot is substantially increased. Between the heat and the wind it can really zap you. This is especially true if you are taking long trips. I know this first hand. A couple of years ago I went on a ride from St. Louis Mo to Eureka Springs Ar. This was not an exceptionally long ride ( a little over 300 miles), but it was hot. I started the day off just fine. Got a good early start with the rest of the group. By lunch time the temps had hit 100 solid and the humidity was pretty close to the same. We ate lunch and started out again. For about an hour I was keeping up ok, but then I lost the group. They just seemed to vanish on me. I didn't realize it but it was me who'd got lost. Two more hours of driving around and one of the guys came up beside me. He later told me I was only going about 20 miles per hour and was wobbling all over the road. Luckily he forced me to pull over at the next gas station and stop for awhile. That night I was sick as a dog. Couldn't hold any food down, suffering from chills, and severe cramps. Welcome To The World Of ?Upside Down? Motorcycle Loans! With the depreciation on motorcycles being so enormous after they are driven off the showroom floor, the potential for a buyer owing more on their motorcycle loan than the bike is worth it quite high. Owing more on your bike than it is worth is often referred to as the world of "up side down". Necessity of Motorcycle Parts If you are one of the many people who consider your bike as invaluable as your family, then we know you're head over heels. We may be judged heavily for this perception but you might even be willing to dump your partner just so you could spend time riding and caring for your bike? though, we hope you are not that obsessed. Motorcycle Suspension: - A Troubleshooting Guide Trouble Shooting Suspension Problems. How to Remove Your Mk2 Mini Moto Engine Many mini moto modifications will require you to remove the engine from the mini moto. This is why I have produced the following guide. Kids Like to Ride Motorcycles Too Roaring up on a motorcycle has a strong draw for all of us who have adopted the biker lifestyle. This draw often hits our children too. I know that for me my kids love to ride and probably want to do it as much as I do. I love taking them for rides and sharing the experience with them. But there are some additional considerations that have to be taken into account when loading them on the back of your motorcycle. Minimoto Dirt Bikes, Miniture Motards - The Next Step Up from Battery Powered Toys As your child grows out of their little bicycle and wants more than a battery powered car to get them 'cruising' along. It can be a head scratching thought as what would be the next step up... Know Your Mini Moto The Mini Moto is a small scale replica of the World Super Bikes used by the likes of Valentino Rossi and ex champion Carl Fogarty. The Mini Moto comes equipped with either a two stroke air or water cooled engine which are, depending on the model, capable of speeds of up to 60Mph. Save Money on Used Motorcycle Parts For every motorcycle enthusiast, it is indeed very taxing to maintain bikes as good as new ? its engine running and all its other parts functioning. We know for a fact that it's not only for the sake of transportation but also for a little satisfaction of our vanity ? seeing everyone admire us, atop an excellent piece of machine. Like any road going vehicle, a motorcycle's performance is based on the smooth running of thousands of parts, large and small. It is a nuisance indeed to find some faulty parts on a vehicle and prevent owners from enjoying its full use. Workings of a Motorcycle Muffler Suspension Motorcycles are becoming more popular because of its convenience and relatively inexpensive cost compared to automobiles. They are capable of the same speeds as cars and can also be licensed for use on public highways. Motorcycle Tires - Why Should You Care? One of the most important parts of any vehicle is its tires. Not only are the tires subject to a large amount of wear and tear, but also their durability depends largely upon how you maintain them. But before we go into the details of motorcycle tires maintenance, let us first understand how you should determine which tires are best for you. Avoiding Excessive or Uneven Front Tire Wear All rubber tires wear down over time, whether they're on a motorcycle or automobile. However, you want to watch out for uneven or excessive wear, both of which can cause serious problems for motorcycle riders. If you pay attention to the following causes of excessive and uneven wear, you will extend the life of your tires and keep yourself safe: Trackdays - Get the Maximum Enjoyment from Your Time on the Track Many motorcyclists want to take their bikes onto the track and trackdays are the ideal environment. If you have never been on a track before the experience can feel daunting so here are a number of tips to help make your trackday enjoyable. Use a van or a trailer to get your bike to the track Do You Need a Part for Your Harley Davidson Motorcycle? Need a Harley Davidson Part for your ride? Motorcycle Accidents: Preparing Your Case Motorcycle accident is an unexpected occurrence that results to shock and trauma, serious physical injuries and death. The most common reason of a motorcycle accident, which contributed to the 50% of the motorcycle vehicle, is due to the failure of another motorist to see the motorcycle. It is estimated that 75% of motorcycle accidents involve another motor vehicle, two-thirds of which were caused by the motorist failing to yield the right of way. Motorcycle accidents not only involve driver's negligence, it also includes product defect and unsafe roadways. Motorcycle Suspension Setup: Getting to Grips with a Black Art Suspension Set-up: The basics So You Want To Be A Custom Bike Builder? Start With A Motorcycle Kit! So you want to be a custom bike builder? Well friend, before you rush out and buy that motorcycle kit, the one that will set you on the road to riches and fame, stop and think about the level of expertise and artistry the top builders have attained. More importantly think about how long it has taken them to attain it! Let's look at a few key issues? How Do You Make Your Harley Davidson Look And Feel Like An Extension Of Yourself! How do you make your Harley Davidson look and feel like an extension of yourself! Fuel Cells Motorcycles, Trucks, Tanks, ATVs and Fire Hazards from Heat Exchanges We have heard a whole lot of talk about fuel cells and of course it is a worthy endeavor. Portable generators, cars, transportation industry, Power generators, Ships, etc. can benefit. However in a mobile application such as a shuttle bus, car, truck, train, tractor, motor scooter or even a Segway air-cushioned platform mover, there is the problem of heat. The heat occurs on transfer of fuel. So if we are talking about a portable application the heat can make steam and the steam can be used for additional power needed also. In an off road application when we are in places of drought and extreme fire hard there is a significant problem which needs to be better addressed with the material sciences to control the heat. Everyone knows that 2-cycle motorcycles get hot and can cause fires if you are not careful.
|
|
|
|
|
