Had mediation yesterday for the divorce

[05bulldog]

let it go...if you are going to try and finance the 04 for $9700...you would have a better chance at financing a new one for $11000 if you had to do it!! LET HER HAVE IT!! just wait and get one when you feel better about it all. You can always back out after talking to a dealer if the payment is too much!!

 

[Devil Dog]

torch it....collect the insurance....Ooops, did I say that out loud!

 

[hionbusa]

BEST SITUATION : Give her the bike and wait til ur scores are up to go buy a new one

Why is your credit score 567 ? You have to understand whats hurting it .
There are couple of things you can do and your scores will go up to 620 (median). You can get a decent loan with that.

OR look for shops that do in-house financing. I dont know where you live, but there are a few here in CA. They will hold the title of your bike til you pay it off .

I do this for living and I see it on regular basis.

 

[hionbusa]

good luck,, divorce is tough on credit scores.

Not if You have your STUFF together.

 

[Vic_E55_2001]

torch it....collect the insurance....Ooops, did I say that out loud!

that`s a felony you talking about....

 

[BUSAZ71]

if you can convince them youre a good guy and pay your bills, they can "get" you financed.All it takes is someone at the dealership to basically say to his sales mgr. that youre good to go and like magic, youre qualified for a $11,000 loan.[/QUOTE]

Sorry but I disagree. Although there is some creative financing this is not how it is done. If anyone needs convincing that you are responsible it is the bank. And only if you know the finance manager at your dealership will he go out of his way to talk to the bank and try to convince them you are a good candidate.

There are lots of diff loans out there. They don't only go by your fico score, they go by how much credit you have, how long you have had established credit, do you pay all your bills on time, your debt to income ratio. There are alot of things that factor in to their decision making.

Have you thought of a home equity line of credit ?

Its hard enough to get a bike loan let alone one with negative equity on top of it. IMO, Let her have it. Its hers, if she can't sell then its her credit that gets trashed not yours. She will deff be looking to sell. And if not get a co signer and by yourself a brand new bike.

Good Luck to you.
Ron

 

[pure_ego]

good luck,, divorce is tough on credit scores.

Not if You  have your STUFF together.

you mentioned that you do this everyday..

so do I..

so uh.. what would you expect a person freshly out of a divorce's credit score to be..

I'd say almost 70 percent of them are in the toilet, and the other 30 either had no fault divorces, or both of the parties involved were very reponsible to start with.

I've never been thru a divorce, or even been close to anybody that has so I don't know what the problem is.. I just know that when the family goes to crap... the credit normally isn't far behind.

 

[Rongotti]

Yea I am thinking that would be better to give it to her, after flatening out the tires of course. But I am just scared to lose possession of it, worried that I may never be able to get another. I messed up getting a busa as my first bike in the first place, now I can never go down to a 600 or 750.

 

[CCbusa05]

Let the wife have it and then sit back and take stock of where you're going in this life! You aren't going to like this, but if I were you, I'd set my prioroities in order before you really get yourself into trouble! Forget motorcycles and toys UNTIL you can nearly pay cash for them! I'm assuming that you are a young guy, so that means you have many years of enjoyment ahead of you OR the worry of being deeper and deeper into debt and being miserable all your life! Sorry.......I'm 60 and have a boy probably about your age and we go round and round about things like this. Good luck!

 

[DaCol.]

She can have it, why not? She was the one who trashed it?
On papers it is her bike after all...
And you can buy brand sparkling new one.

+1     She wanted it (cause she trashed it) so, let her have it AND the payments  

. Since it's worth LESS than you owe, that oughta fix her hinnie  

Then go buy a NEW one in celebration  

 

[Aquaman]

Dont flatten the tires,it is not worth gettin crazy and pulling what I call stupid stunts over any biotch.
Walk outta it with your head up high,knowing you bowed out of it being a man.
Let her do all the dumb moves and look like a $hit head!
You can always build up your credit again.

 

[Rongotti]

Basically, any way I look at it I am screwed. I am 28 I dont want a busa when im 35 I want one now. That is the thing I cant get out of my head. I am going to try my best to figure something out. Thanks for all the comments though, it really helps to get it out in the open and talk about it

 

[gnd111]

Let here have it and the payments. Work on your credit till next fall when the new 07's are plentiful...::

 

[hionbusa]

good luck,, divorce is tough on credit scores.

Not if You  have your STUFF together.

you mentioned that you do this everyday..

so do I..

so uh.. what would you expect a person freshly out of a divorce's credit score to be..

I'd say almost 70 percent of them are in the toilet, and the other 30 either had no fault divorces, or both of the parties involved were very reponsible to start with.

I've never been thru a divorce, or even been close to anybody that has so I don't know what the problem is.. I just know that when the family goes to crap... the credit normally isn't far behind.

Well , it all depends where you start.
let say you and your spouse have a 650 fico which is the median average score for 2005.

You have a mortgage , 2 cars and 2 credit cards together.

now after divorce. One of you agreed to keep the house. SO you ahve the refinance and pay the other one off.

Assuming you have 30 to 40 % equity in your home. You should be able to pay off you cars , credit cards and a lump sum to whoever wants out of the property.

Now , there is no reason for you scores to go down. They might go up actually .

Problems start to happen when there is a disagreement . Late payments due to both parties not assuming their financial responsabilities. Credit score goes down.

IF you are in the upper 700 scores.780 or so . Your scores might drop due to too many account been closed or opened.
In the 600 range . IT doesnt happen much

 

[Aquaman]

I am 28 I dont want a busa when im 35 I want one now.[/QUOTE]
I'll be 42 this month but still going on 16.
Age dont mean nothing and I just got my busa.

 

[monti]

Let her have it. Save some money the rest of the year and get yourself an 07 next year.

 

[BA BUSA]

Your best chance would check with a dealer to see if you could qualify for a new one....05 or 06.

The 04 is history, you are upside down $1200 and that is if they would give you RETAIL on a trade in....NOT A CHANCE

 $8500 is the price that they would try to sell your 04 for.

 

[TIMMYDUCK]

Let her take it .
With a little resolve you can figure out the rest.
You can buy a new 06 for 9800 OTD from my dealer here in Vt.
Pay tax and licence in your own state.
Worst comes to worst , they could finance the whole deal at 17.9 % and you ride away on a signature.
That would work out to about 250-260 a month for 60 months.

 

[Rongotti]

Let her take it .
With a little resolve you can figure out the rest.
You can buy a new 06 for 9800 OTD from my dealer here in Vt.
Pay tax and licence in your own state.
Worst comes to worst , they could finance the whole deal at 17.9 % and you ride away on a signature.
That would work out to about 250-260 a month for 60 months.

I would do that in a heartbeat but they have got to check for credit somehow

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[TIMMYDUCK]

Let her take it .
With a little resolve you can figure out the rest.
You can buy a new 06 for 9800 OTD from my dealer here in Vt.
Pay tax and licence in your own state.
Worst comes to worst , they could finance the whole deal at 17.9 % and you ride away on a signature.
That would work out to about 250-260 a month for 60 months.

I would do that in a heartbeat but they have got to check for credit somehow

I will see my friends their this week.
I am doing a cash deal on a 06 for myself , since my 05 got taken out at Christmas.
They are true buddies, I ride with them whenever we get a chance to on Sundays in the summer.
PM me your real name and # and a good place to call you in the day between like 10-5 or on a Saturday between 10-4.
You can give them your social and they will run you.
As I say you will probably end up at 17.9 % but they can push you through.
You know the rest, make all the payments on time or come 60 days overdue the boys show up and hook it.
Also, no dealer transfer pick-ups on these deals you take deliver in VT.

see above.