[mcummings2]

I am going to put a deposit down on a Grom today. I am in the process of repairing my credit. What were your guys' credit scores when you financed your Grom? I definitely have the money for one, I am just worried that my credit might not be good enough.

 

[gromrevver]

Mine was 771 didn't have a problem, but check around honda wasn't the best interest rate available for me I ended up getting a personal loan through one of my credit cards they had very good rates


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[Andr3w]

I don't remember mine but it's above 730. Being in the same position, I decided to have the dealership run my credit to see what kind of rate I could get. They said I was approved and when I read over the details it said 22%. I said no thanks thats way too high. He then says let me talk to my manager. A few second later he comes back and says oh we just applied this special promotion financing code, your rate went down to 8%.

In the end I ended up going with my bank to finance a small amount to build credit. They say to know your score before you go in so dealerships can't raise the interest rate to make a profit off the raised interest.

 

[Town Drunk]

737 credit score and got tier A credit. The best rate Honda offered I think was 4.75 for 3 years

 

[LateNA]

I work for a Honda dealer and was told that you need to be at least 600-650 before they will approve you. If you are in that range you won't have a ton of bargaining power when it comes to rates. It is worth going to your bank/credit union before and see what rate and amount they will do for you.

^I got my Grom when they first came out and they were doing 2.99% on street bikes. Depends on what promo they happen to be running at the time, although I don't think we will see any finance promos for the Grom until they are sitting in dealers around the country.

 

[mcummings2]

You guys are lucky to have good credit. I think mine is between 600 and 610 right now. The money and interest rate doesn't bather me too much (as long as it's not ridiculously high) because I make really good money and will be able to pay it off within a year anyway.

 

[LateNA]

I was in your shoes two or three years ago. Ex-wife messed my credit up for 7 years. Then I got a little $500 secured credit card and was in the 700's before I knew it. Got a secured loan next, financed around half the price of the Grom to continue building my credit and still building. Don't wait man, do what you can now to build your credit.

 

[mcummings2]

I was in your shoes two or three years ago. Ex-wife messed my credit up for 7 years. Then I got a little $500 secured credit card and was in the 700's before I knew it. Got a secured loan next, financed around half the price of the Grom to continue building my credit and still building. Don't wait man, do what you can now to build your credit.

I have been. I have 2 credit cards, a car loan, and school loans all in my name that I have been making payments on, on time for a while now. I am going through a credit repair company and they are fixing all of the negative items on my account. Since I have started with them 2 months ago, my credit has already been increasing.

 

[LateNA]

Awesome man. Keep it up. It will be right before you know it.

 

[Shoebacca78]

I had 2 cars, house and a few CC in my name. My wife has a lower credit score so she isn't on anything.

But bc of that I'm overextended. My Fico score was 760, but bc of the above I barely could get approved anywhere!

Froggie here told me that I should have gotten 8-9%, but the dealership bumped me up to 12%!

In the end, it didn't matter bc i paid it in full in 4 months. (Sold my AR and Zuma scooter)