I helped an ex get a motorcycle and now need him to repay me. He needs to take out a loan and repay me or buy the bike from me. His credit is horrible but there has to be places that will still give you a loan. Please help me with advice!
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How about Gary Coleman with check in cash?
Work with the dealer who is selling the bike. They usually can hook you up with a way of securing a loan for a bike. Sometimes even with bad credit.
Who on earth is going to lend money for that? Why don't you suggest he sell it? Motorcycles are not only a loud nuisance, they are usually just a fashion statement rather than a means of transportation. An impractical and expensive luxury item.
All I can say is, if you own the motorcycle, take it back. If he does, tell him to get a title loan. He can make payments but depends on what he still owes you.
Most loan companies and bank's won't loan money for an item that is considered a luxury item. A car you can usually get with bad credit because it gets you to work. Motorcycles, Atv's, etc are basically considered man toy's. And yes you can drive a motorcycle to work, but most people don't consider this their primary transportation.