any way to take out a loan

[kdx357]

im 15 and i wanted to know if i could somehow takeout a loan to buy a bike

 

[biglou]

I'm guessing that you would probably need a co-signer. If your parents have good credit, you can take advantage of that and build some credit for yourself. Also, the amount you can borrow will be limited depending on how old the bike is. My bank will loan 80% of the list price of a new bike, and the interest rates are very good (less than 8%/year). Shop around for the best rates. If you can't get financed, perhaps your parents will take out the loan and let you pay them. It's a commitment, though. If you let your payments lapse, you will have a very hard time getting credit in the near future. Think about whether or not you are ready for the responsibility and make your decision from there.
Good luck. :)

 

[Old CR goat]

We're just about to do that with my son (co-sign) he'll be 16 next month.
It's taken a few months to be convinced that he can hold the job and keep grades where they have to be, but he has so he will get the new YZ125.

Me, I guess I don't do so well, I have to keep the old 90 CR. :(

 

[Zoomer]

KDX, do you have a job? With out a source of income, dought that a bank would lend you money. Still might require a co-sign from parent or other.
The best way to build credit is to have the co-signer rather then borrow from parents. But if thats the way you have to do it, what ever it takes to get the new scoot! :aj: