Hey guys, not sure if anyone has any experience with this but i figured i would try. I sell power sport motorcycles (ATV-4 wheelers). I sell them used, they do not have to be registered once sold used. I have tried to get banks to work with me and get people applied for financing but i had no luck, i tried hard for a while.
What we came up with was that the loan would just have to be a private unsecured loan. Trying to apply someone with horrible-ok credit for $5,000 private unsecured in pretty much impossible. I was using wells fargo only, although i called around alot and ended up no where. I was thinking about getting credit card services but id have to pay the yearly fee and all the setup charges which is not a big deal but im scared someone can cancel their transaction and scam me. I have tested my market and the potential buyers with financing vs. no financing has been through the roof, and this is at a price increase of 30-45% (when advertising with financing). Is there a solution to my problem, my target market has trouble laying out cash right now even though its only $4-$5k. Thank you
What we came up with was that the loan would just have to be a private unsecured loan. Trying to apply someone with horrible-ok credit for $5,000 private unsecured in pretty much impossible. I was using wells fargo only, although i called around alot and ended up no where. I was thinking about getting credit card services but id have to pay the yearly fee and all the setup charges which is not a big deal but im scared someone can cancel their transaction and scam me. I have tested my market and the potential buyers with financing vs. no financing has been through the roof, and this is at a price increase of 30-45% (when advertising with financing). Is there a solution to my problem, my target market has trouble laying out cash right now even though its only $4-$5k. Thank you
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