You cannot borrow money if you have poor credit. Try to see if the seller will take payments.
You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.
No, because you have your own separate credit report.
Normally your credit is ruined for 7 years.
A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.
It has the same effect on the credit.
No how can it be leagel
Stays on your credit rating for 7 years. Has a very negative effect.
Only if the dealer reports it to the credit bureaus.