I'm currently in a consumer proposal that started in May 2009. Payments are $130 a month, I have not missed a payment. My only debt is what's left of my proposal which is about $6000. I was really stupid with credit cards and my credit is paid for it.
I'm slowing rebuilding my credit. I was able to get a $500 secured MasterCard with People's Trust in October. I've been using it for small purchases each month and paying in full on time every month as the statement comes. I checked my credit report and score in November. My report is clean, everything is correct and all accounts reporting accurately. My score was 460.
I want to get a motorcycle this spring/summer very badly. The bike I want is $6000. Is it impossible for me to get a loan either through the dealership, a credit union or bank? I'll have $2000 saved up by April. Will a large down payment allow me to get this loan? Should I just keep saving and get a cheaper bike in cash?
Thanks, just trying to figure out my options! I've learnt a lot from this site!
