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Okay here is the story. I found a bike. I only need about $1300 more to buy it. I want to take a loan out but do not know what kind to ask for. I do not want to say that it is for a motorcycle b/c they will expect me to have full coverage. If I ask for a personal loan will they ask me what it is for? Please Help I want to apply tomorrow. Thanks.:draggin
 

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Do you own a home? If you do I would get a Home equity line of credit rate is really low and you can borrow what you need. Or just get a credit card and put that shit on there usually they will give you a low rate for as year or so and pay it off quick.
 

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just get a signature loan, or a personal loan. Also, you could just open up a new credit card!
 

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Thats what I did. I took out a personal loan. When they asked I said it was for home improvments.
 

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GO with the credit card. Some offer no interest no service fee deals right now check Discover i got mine fore a full year. You cant beat that and unless you have really bad credit you'll always get approved. Now if you have really bad credit you won't get approved for any loan. Good luck.
 

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Credit Card is a good point. With all the deals floating around now a days with 0% interest and such. They may work out to your advantage. But pay it off quick. :) Don't sink into credit debt hell. :)
 

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if you have excellent credit, most creditors dont care what your borrowing $$ for, especially a smaller loan like $1300. For my GOOD customers, they usually call and ask if they can buy something, etc. They get the standard response"write a check" for less than perfect applicants they get a grilling(dont want to lend $$ for trips to casino or to buy hookers) for people with shitty credit, its "get the fuck out"
And I would not suggest credit cards. My suggestion is to have 1 for EMERGENCIES ONLY. Sure those low teaser rates look nice, but thats their point. You get in a store & think, I'll pay it off at the end of the month, EOM comes, well, I'll just pay the minimum, you keep charging, revolving interest keeps ticking off,they raise your limit, you charge more. Then one month your late just a couple of days & BAM they hit you with a $25 late fee, then you start getting over the limit fees, etc. They fee you to death, rate goes up over 20%, and you pay on this credit card the rest of your life. I see it EVERY day. Credit cards are trouble if you are not extremely cautios. Why do you think you get so many applications with those low rates? B/c credit cards are very profitable for those companies, especially when they start digging off in your ass with fees & higher rates.
 

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LeeNetworX said:
Tell them you are buying one of those $1500 Sybian vibrators for your girl. :D
:lol
yeah that would work i never thought of that excuse. :thumb
 

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I'll loan you the money..... but you gotta pay me back @ 20% interest :redflip
 

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yeah but loan interest will start around 4% and thats with extremly good credit. Credit card is the way to go 0% for a year. If you cant pay 1300 in a year than you should look into a cheaper bike. Just a little over $100 a month and you got it paid. As everone else said I agree pay it off as fast as you can, if you have the money put it towards the loan cause you will end up spending it. again good luck
 
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