Welcome to NESR! Most features of this site require registration, including replying to threads, sending private messages, starting new threads, and uploading files. Click here to register.

View Poll Results: DID YOU, OR DID YOU NOT TAKE OUT A LOAN?

Voters
129. You may not vote on this poll
  • I PAID CASH

    87 67.44%
  • I HAVE A LOAN

    29 22.48%
  • FUCK OFF

    9 6.98%
  • I WHEELIED IT TO DEATH!

    4 3.10%
Page 4 of 5 FirstFirst 12345 LastLast
Results 76 to 100 of 121

Ok honest question

  1. #76
    Fizzers are fun KRae33's Avatar
    Join Date
    Apr 2009
    Location
    Manchvegas
    Posts
    244

    Re: Ok honest question

    I think the decision to finance or not is all circumstantial. If you own a home and could spend $8k in upgrades and earn equity while paying 4% on a motorcycle loan, you're making out on the deal. The equity you're earning is far greater than what you're paying in interest. Too often people assume paying cash is the better option, but if you can make more money with your cash elsewhere, a low interest loan is the way to go.

    Also, I second going through a credit union. They have great rates and offer lil perks. By paying an extra $20 throughout the life of my auto loan, they will make up to 12 payments in full on my vehicle if I am ever out of work on disability...and I wouldn't have to pay them back.

    0 Not allowed! Not allowed!

  2. #77
    Lifer R1's Avatar
    Join Date
    Jul 2007
    Location
    Somewhere you dont know...
    Age
    39
    Posts
    5,105

    Re: Ok honest question

    Ok so another question since this has sparked some interest.

    Who uses their bike as PRIMARY transportation...

    I seen one response along these lines so far, those who voted "FUCK OFF" or "I WHEELIED IT TO DEATH" need not respond, you already win....

    in other words, who has bought a motorcycle to alleviate public transportation costs, or sold a car to get a bike and use public transportation as the alternative to riding?

    more specifically who has JUST a bike to commute?

    0 Not allowed! Not allowed!

  3. #78
    Lifer markbvt's Avatar
    Join Date
    Jul 2007
    Location
    Georgia, VT
    Posts
    3,716

    Re: Ok honest question

    Quote Originally Posted by ThisBitch View Post
    I know that not everyone can afford to pay cash, but when someone finances a bike and can barely afford the payments, you're just asking for trouble. What happens when something goes wrong mechanically? Insurance won't cover that.
    The same argument could be turned around though -- what if you could easily budget in a $150/month motorcycle payment, but dropping $10k in one lump sum requires most of your savings, leaving little cash left over in the event of an emergency?

    Personally I'd rather have a safety cushion in the bank and make monthly payments, even if in the long run it ends up costing me a little more.

    --mark

    0 Not allowed! Not allowed!
    '20 Triumph Tiger 900 Rally Pro / '19 Triumph Scrambler 1200 XE / '11 Triumph Tiger 800 XC / '01 Triumph Bonneville cafe
    My ride reports: Missile silos, Labrador, twisties, and more
    Bennington Triumph Bash, Oct 1-3, 2021

  4. #79
    Lifer markbvt's Avatar
    Join Date
    Jul 2007
    Location
    Georgia, VT
    Posts
    3,716

    Re: Ok honest question

    Quote Originally Posted by R1 View Post
    in other words, who has bought a motorcycle to alleviate public transportation costs, or sold a car to get a bike and use public transportation as the alternative to riding?

    more specifically who has JUST a bike to commute?
    I do own a car, but I've put about 5000 miles on it in the past two years, while I've put nearly 40,000 miles on my bikes. Does that count?

    --mark

    0 Not allowed! Not allowed!
    '20 Triumph Tiger 900 Rally Pro / '19 Triumph Scrambler 1200 XE / '11 Triumph Tiger 800 XC / '01 Triumph Bonneville cafe
    My ride reports: Missile silos, Labrador, twisties, and more
    Bennington Triumph Bash, Oct 1-3, 2021

  5. #80
    Silver Bullet Commuter fjrrider RI's Avatar
    Join Date
    Sep 2009
    Location
    Narragansett, RI
    Posts
    453

    Re: Ok honest question

    I have a commuter bike the fjr1300 and bought the ninja for my sport fun and taught my gf to ride it. I do have a truck and use it when necessary. So the FJR is not sole transport to work. It gets about 10,000 commuter miles a year and 2,000 weekend or NH miles. Bought the 04 FJR used in 05 for 9K cash and 1k miles on it. Sucker who owned it couldn't handle it-ha

    0 Not allowed! Not allowed!
    Yamaha lover

  6. #81
    Silver Bullet Commuter fjrrider RI's Avatar
    Join Date
    Sep 2009
    Location
    Narragansett, RI
    Posts
    453

    Re: Ok honest question

    Quote Originally Posted by markbvt View Post
    The same argument could be turned around though -- what if you could easily budget in a $150/month motorcycle payment, but dropping $10k in one lump sum requires most of your savings, leaving little cash left over in the event of an emergency?

    Personally I'd rather have a safety cushion in the bank and make monthly payments, even if in the long run it ends up costing me a little more.

    --mark
    add up the interest you pay

    0 Not allowed! Not allowed!
    Yamaha lover

  7. #82
    Lifer R1's Avatar
    Join Date
    Jul 2007
    Location
    Somewhere you dont know...
    Age
    39
    Posts
    5,105

    Re: Ok honest question

    Quote Originally Posted by fjrrider RI View Post
    add up the interest you pay
    What does that matter to you in the grand scheme of bike ownership?

    It might not be what you/others would do, but does that make it inherently irresponsible?

    think about the 5k+ someone just dropped on their bike then suddenly you have a house fire or other major event that is going to cost huge amounts of money. what if you choose to not insure your bike when its winter so you can save $$$ and because you paid cash, if something happens you are out the cost of the bike plus the cost to replace it, doesnt that then add up to more than the interest would be if you had taken out a loan?

    0 Not allowed! Not allowed!

  8. #83
    dad,husband,motorcyclist JoeT's Avatar
    Join Date
    Mar 2009
    Location
    Broomfield Colorado
    Age
    56
    Posts
    204

    Re: Ok honest question

    Toys always get paid with cash.

    I have a loan on my car (company pays me $1000 a month for it and gas) and my Mortgage only. . .

    I buy most daily stuff with my AMEX or ATM card.

    The only time I got any shit from the wife was when I bought the Confederate. . . seeing $35k leave the bank account for a "stupid motorcycle" upset her a little. The cobra was more money but it wasn't a one time purchase it was spread out over a year. I bought parts as I could "afford" them

    0 Not allowed! Not allowed!
    currently just an oldman bike, but searching for my new ride
    .Sold to a guy in Mississippi searching for a new ride.

  9. #84
    Lifer Pittenger5's Avatar
    Join Date
    Oct 2006
    Location
    Austin
    Age
    42
    Posts
    15,199

    Re: Ok honest question

    Quote Originally Posted by markbvt View Post
    The same argument could be turned around though -- what if you could easily budget in a $150/month motorcycle payment, but dropping $10k in one lump sum requires most of your savings, leaving little cash left over in the event of an emergency?

    Personally I'd rather have a safety cushion in the bank and make monthly payments, even if in the long run it ends up costing me a little more.

    --mark
    This.
    Coulda bought my bike cash, chose to finance to keep a safety cushion. Really glad I did at this point

    0 Not allowed! Not allowed!
    Zip Tie Alley #505

    Quote Originally Posted by Pookie View Post
    My favorite was you going through T2 with your eyes closed.

  10. #85
    Lifer NobodySpecific's Avatar
    Join Date
    Apr 2008
    Location
    Burlington, VT
    Age
    40
    Posts
    2,739

    Re: Ok honest question

    Quote Originally Posted by fjrrider RI View Post
    add up the interest you pay
    Assuming I don't pay it off early, financing my Sprint will have cost me $367 over the course of 3 years, while allowing me to keep the $6k in my online trading account, which is currently up 23.4% since I bought the stocks. I have a feeling that keeping the money in that account will more than make up for those extra costs, without me having to worry about my savings level dipping too low for my liking. That may not be a trade-off you are willing to make, but I have done the math and I've decided I'm willing to spend $120 a year to make sure that I have enough savings for anything that might happen.

    0 Not allowed! Not allowed!
    '06 Triumph Sprint ST ABS
    '90 Yamaha XT350

  11. #86
    Lifer obsolete's Avatar
    Join Date
    Aug 2008
    Location
    Norf Sho
    Age
    44
    Posts
    12,547

    Re: Ok honest question

    Quote Originally Posted by SV650N View Post
    Assuming I don't pay it off early, financing my Sprint will have cost me $367 over the course of 3 years, while allowing me to keep the $6k in my online trading account, which is currently up 23.4% since I bought the stocks. I have a feeling that keeping the money in that account will more than make up for those extra costs, without me having to worry about my savings level dipping too low for my liking. That may not be a trade-off you are willing to make, but I have done the math and I've decided I'm willing to spend $120 a year to make sure that I have enough savings for anything that might happen.
    But then I couldn't masturbate while I tell people about my finances.

    0 Not allowed! Not allowed!
    -Alex
    I can resist everything but Pete's mom.

  12. #87
    Senior Member The Magician's Avatar
    Join Date
    Jun 2006
    Location
    Savannah, GA
    Age
    39
    Posts
    426

    Re: Ok honest question

    financed 1 out of like 10 bikes that i've owned. rest were cash deals. Paid rent. Single. No kids. Etc. Even managed to pay cash for a couple bikes when I had a high maintenance girlfriend... not sure how... but my savings acct explained it to me later.

    0 Not allowed! Not allowed!
    The best advice I’ve ever been given is to not forget where you came from.

  13. #88
    Member davemon's Avatar
    Join Date
    Sep 2007
    Location
    Bay Area, CA
    Posts
    185

    Re: Ok honest question

    I'm with the cash folks. I don't buy things I haven't saved up for with the exception of one house. Since I got free of my last school loan in 1995 I've not borrowed or had a payment again. It's a personal decision and there have been a lot of things I had to wait for. On the plus side it does make what you are "really" paying for something very, very clear... or at least it does for me.

    Dave

    0 Not allowed! Not allowed!

  14. #89
    Don't bother me! R7's Avatar
    Join Date
    Jun 2001
    Location
    Yamaha Blvd
    Age
    51
    Posts
    14,566

    Re: Ok honest question

    Quote Originally Posted by R1 View Post
    Ok so another question since this has sparked some interest.

    Who uses their bike as PRIMARY transportation...

    more specifically who has JUST a bike to commute?
    My R1 is my primary transportation and I don't own a vehicle at the moment. I have a company vehicle to get back and forth to work with, and I run all my errands to and from work. Most other stuff, it's on the bike

    0 Not allowed! Not allowed!
    Yamaha

  15. #90
    Lifer markbvt's Avatar
    Join Date
    Jul 2007
    Location
    Georgia, VT
    Posts
    3,716

    Re: Ok honest question

    Quote Originally Posted by fjrrider RI View Post
    add up the interest you pay
    Perhaps you missed the part where I said even if in the long run it ends up costing me a little more.

    --mark

    0 Not allowed! Not allowed!
    '20 Triumph Tiger 900 Rally Pro / '19 Triumph Scrambler 1200 XE / '11 Triumph Tiger 800 XC / '01 Triumph Bonneville cafe
    My ride reports: Missile silos, Labrador, twisties, and more
    Bennington Triumph Bash, Oct 1-3, 2021

  16. #91
    Your Father csmutty's Avatar
    Join Date
    Sep 2008
    Location
    Pomfret Center, CT
    Age
    32
    Posts
    11,813

    Re: Ok honest question

    Quote Originally Posted by bergs View Post
    Last I checked there wasn't an age stipulation for loans there, champ.
    Last I checked there was. When I bought the ZRX I was 17 and tried to get a loan...and couldn't without my parents signing. Plus I have no credit...which would make it hard regardless.

    0 Not allowed! Not allowed!
    -Christian LRRS/CCS HasBeen ECK Racing
    2011 Pit Bike Race CHAMPION!

  17. #92
    The NEW hot Setup Manny's Avatar
    Join Date
    Nov 2004
    Location
    Boston, MA
    Posts
    4,032

    Re: Ok honest question

    Sorry, this thread is dumbbbb

    0 Not allowed! Not allowed!
    EVERYTHING is a repost
    06 749R #0047
    08 R 1200 GSA
    13 Monster EVO 1100

  18. #93
    Winter sucks Nate Dawg's Avatar
    Join Date
    Oct 2006
    Location
    Providence
    Age
    48
    Posts
    1,547

    Re: Ok honest question

    Paid $$ for my RSVR. And it felt so goooood to do so. It's mine...alllll mine!!

    0 Not allowed! Not allowed!

    08 Ape RSV1000R
    09 Ram 1500 Black Big Horn
    10 Mini Cooper S sleeper (hers)

  19. #94
    Grizzly Fuckin Adams dhuze's Avatar
    Join Date
    Mar 2004
    Location
    woonsocket ri
    Age
    57
    Posts
    5,199

    Re: Ok honest question

    I paid cash for the last two bikes I owned and still own. I bought them new and I hate payments. I haven't had a payment on a vehicle since 1987. All of my cars are bought used. My bikes are bought new.

    0 Not allowed! Not allowed!
    You suck at life. Why don't you quit?

    My dad told me I could be anything I wanted when I grew up. So I became an Asshole.

  20. #95
    Grizzly Fuckin Adams dhuze's Avatar
    Join Date
    Mar 2004
    Location
    woonsocket ri
    Age
    57
    Posts
    5,199

    Re: Ok honest question

    Quote Originally Posted by Manny View Post
    Sorry, this thread is dumbbbb
    You have a payment huh?

    0 Not allowed! Not allowed!
    You suck at life. Why don't you quit?

    My dad told me I could be anything I wanted when I grew up. So I became an Asshole.

  21. #96
    Changes come butcher bergs's Avatar
    Join Date
    Jul 2007
    Location
    the humbling river
    Posts
    12,995

    Re: Ok honest question

    Quote Originally Posted by csmutty View Post
    ...and couldn't without my parents signing.
    In other words, you *could have* gotten a loan.

    0 Not allowed! Not allowed!

  22. #97
    The NEW hot Setup Manny's Avatar
    Join Date
    Nov 2004
    Location
    Boston, MA
    Posts
    4,032

    Re: Ok honest question

    Quote Originally Posted by dhuze View Post
    You have a payment huh?
    No, I don't.

    But I would if my circumstances required it.

    The point is we are all very different, different life circumstances, jobs and priorities so a thread asking the question and then having everyone rationalizing why they do or don't is stupid IMO.

    Plus half the people who answered have pretty inexpensive used bikes, not really answering the question.

    0 Not allowed! Not allowed!
    EVERYTHING is a repost
    06 749R #0047
    08 R 1200 GSA
    13 Monster EVO 1100

  23. #98
    Just Registered drop's Avatar
    Join Date
    May 2008
    Location
    Bradford, MA
    Age
    41
    Posts
    1,563

    Re: Ok honest question

    i financed a few thousand less than the trade-in value of my bike. that way, if the shit hits the financial fan i can easily sell it and pay off the loan. to me it was a good compromise between putting up a large chunk of cash and having a liability i couldn't dump quickly if needed.

    0 Not allowed! Not allowed!
    - Jamie
    2009 K 1300 S

  24. #99
    Triple Inside Dieseldan's Avatar
    Join Date
    Jun 2008
    Location
    South Eastern Mass
    Posts
    1,223

    Re: Ok honest question

    did it twice and will continue doing it


    hate bike payments in the winter

    0 Not allowed! Not allowed!
    2006 Red Triumph Daytona 675

  25. #100
    Your Father csmutty's Avatar
    Join Date
    Sep 2008
    Location
    Pomfret Center, CT
    Age
    32
    Posts
    11,813

    Re: Ok honest question

    Quote Originally Posted by bergs View Post
    In other words, you *could have* gotten a loan.
    But I couldn't have gotten a loan by myself...which is the only way I would get a loan.

    0 Not allowed! Not allowed!
    -Christian LRRS/CCS HasBeen ECK Racing
    2011 Pit Bike Race CHAMPION!

Page 4 of 5 FirstFirst 12345 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •