So, I went to my local Bank of America where I have an account for college uses. I figured it would be a good place to start looking for a motorcycle loan. I went in and when I was with a lady in her office asking about loans I told her I wanted a motorcycle and she just said "Oh, we don't do motorcycle loans." So I asked if I could take out a personal loan...and apparently you can't do that either?

But they'll let you take out a loan to buy a plane

TD Bank on the other hand offers free college banking (unlike BoA) AND can give me a personal loan for the amount I need!

 

Do you have access to a credit union? Their rates are usually better.

 

I've heard commercials for Credit Unions...I'll look into some, how do they work, do you need to be a member?

 

Well yeah you need to be a member, but that's actually terminology. Having an account there IS being a member.
Though, most CUs do have some sort of criteria or qualification for you to be eligible for an account.
My CU, U.S. Community, the requirement at the time was that you had to be either a service member or an employee of the school system, state or government.
They do have very good rates.

Oh, I hate BofA. Their incompetence/gross negligence almost caused me to lose my house in 2010.
I hope that whole company dies a horrible fiery death.

 

Sort of. Each CU has it's own policy. If you or you parents meet the requirements, you're in. Fed employees, cop, teacher, firefighter, stuff like that. Some don't have requirements.

 

Alright cool! My mom works for the local high school (librarian but does some teaching) so I might be able to use that. I'll look into it, thanks!

 

I'm a member of Philadelphia Federal Credit Union. Their criteria is a P.I.T.A to meet. You have to

• Live
• Or Study
• Or Work
• Or Worship

In the city of Philadelphia

 

Well maybe I'll more to Philly!

Good to know though, I'll definitely look into it!

 

She is probably a member at a teacher's credit union already. Ask her.

 

I will for sure, thanks!