First Bike

[j4eric]

'Busa.

Damn....Bergs beat me to it....he types faster i guess.

["Dangerous" Dan K]

nobody said it so i'll say it......get a BUSA....and welcome to the circus.

Holy shit you type slow...

[crowspeed07]

An 07 sv650 for a little over 4k isn't a bad deal at all from a dealer. Sometimes its worth it to spend a little more up front. I was looking at 4-5 year old zx-6's for 5-6k . . they told me I could ride away with a brandy new one for 7k . . WTF how could i say no lol

Just make sure you get gear!! No seriously we will crucify you for any shorts and a t-shirt nonsense lol

Thats NESR for you. we are dicks but only cause we care lol

where was this id love an 09-10 zx6

[Danz19899]

they aren't doing it anymore sorry. kawasaki was having a huge promo last spring anf performance cycles felt bad cause i totaled the first bike i bought from them lol

but Performance Cycles in Shrewsbury have been good to me

[OreoGaborio]

If not for the name "Ian" I'd be calling BS., or a new record post count intro thread.

As an aside, 4K cash for a first bike? If you have it to play with, enjoy it! Everyone else here will tell you:
1) you'll drop it so it's a waste of $
2) you'll never use all the power
3) buy an EX250 (or a hawk if Doc is talking)

Me, I take it differently. Can you afford to play with 4K? Apparently, or you wouldn't be in a cash available situation for a new (to you) bike. Fuck em. If you drop it light, bodywork is cheap and paint is reasonable. If you bin it, bodywork is reasonable and the rest is up to you.

Assuming you can afford to throw away 1500 (thinking 4K bike minus crash damage) have a goddamn blast! Welcome to the addiction.

What'd you buy for a first bike?
Me, I spent 4300 cash on a three year old, mint condition '00 ZX6R. I used all the power on the ride home after picking it up
BUT DO AS I SAY, NOT AS I DO!

All kidding asside, the SV is a great "do it all" bike. If you can afford to spend the money and still have funds for proper gear left over (expect to spend at least another 4-500 bucks for everything), then enjoy!

Toys should be paid for in cash...

agreed.

["Dangerous" Dan K]

What'd you buy for a first bike?
Me, I spent 4300 cash on a three year old, mint condition '00 ZX6R. I used all the power on the ride home after picking it up
BUT DO AS I SAY, NOT AS I DO!

All kidding asside, the SV is a great "do it all" bike. If you can afford to spend the money and still have funds for proper gear left over (expect to spend at least another 4-500 bucks for everything), then enjoy!


agreed.

87 ZX750R. I think I paid 1200? It was def. under 1500.

[Doc]

I think I would get bored with a 250 pretty fast.

Odd, I think I could have a blast on a 250.



I bet Mika Kallio agrees.

[OreoGaborio]

87 ZX750R. I think I paid 1200? It was def. under 1500.

So that R6 wasn't your first bike?

["Dangerous" Dan K]

So that R6 wasn't your first bike?

That R6 wasn't even MINE! Made all the worse when I wadded it up...

[markbvt]

I recently took a financial management class. Toys should be paid for in cash... Plenty of good bikes out there for $2000 or less.

When feasible, yes, I agree. But a lot of people are not in the financial situation to be able to accumulate that much cash in a timely fashion, whereas financing it over a couple of years makes it very easy to budget. Also, if paid on time, it helps build good credit.

--mark

[Doc]

When feasible, yes, I agree. But a lot of people are not in the financial situation to be able to accumulate that much cash in a timely fashion, whereas financing it over a couple of years makes it very easy to budget. Also, if paid on time, it helps build good credit.

--mark

Dave Ramsey would disagree. You don't need credit if you have cash.

I don't want to get into an argument Mark but...

When/what is feasible? Brand new 1st bike that you finance or a used bike you pay cash for?

[NobodySpecific]

Doc, I think that financing is actually ok, but only if done properly. I don't think a new rider should go out and finance a new machine, but there are times when it is ok. I financed my Sprint, but only after careful consideration. I have the money to pay it off, but I would have to have a smaller buffer in case of an emergency or I would have to pull money out of the stock market. The interest rate is only 3.9%, and the loan is only for 3 years (which I plan to pay off early). I am getting a much better return than that on my investments, so it doesn't make sense to sell them to pay for it. I'm also getting 2% on my liquid assets, so I'm really only paying 1.9% to finance the bike, while giving me the freedom to react to an emergency without using my credit cards or selling my stocks. How is that better than paying cash? I consider the 1.9% a fair cost of doing that business.

Also, would you rather have somebody:
A) Buy a bike they can afford with cash, but have none left for gear
B) Buy a cheaper bike that might have a questionable safety/mechanical history but be able to afford gear
C) Partially finance a cheap bike ($3-4k) in order to afford the gear that they should have.

I don't think C is irresponsible, but buying a brand new bike that you can't afford WOULD be irresponsible.

[Honclfibr]

One difficulty with financing your first bike is that it will require you to carry collision. And collision is expensive for new riders, because new riders are dumb.

[crowspeed07]

One difficulty with financing your first bike is that it will require you to carry collision. And collision is expensive for new riders, because new riders are dumb.

isnt that all the more reason for them to have collision?

[NobodySpecific]

isnt that all the more reason for them to have collision?

Which is yet another reason why a cheaper bike is ideal (cheaper to buy = cheaper to insure)

["Dangerous" Dan K]

isnt that all the more reason for them to have collision?

Or all the more reason to ride something that you can fix cheap and not worry about. I used to drive like an asshole, and insurance was cost prohibitive for me. It's one of the reasons I've never financed anything. I just fix my shit when I break it.

The bottom line, IMO, is that there is no set right or wrong here. What is right for one person may not be right for another.

[KB]

You should get the new ZX-10 Busa FTW!

KB

["Dangerous" Dan K]

You should get the new ZX-10 Busa FTW!

KB

Isn't that a given? I thought we were all trying to tell someone we know nothing about if they should finance it or buy it outright?

[markbvt]

Dave Ramsey would disagree. You don't need credit if you have cash.

That's nonsense. I don't know anyone who has the cash to buy a house. Most people don't even have the cash to buy a car, if they're buying new.

For that matter, even many potential employers will look at your credit rating as a gauge of how responsible you are. So there are good reasons to build credit beyond just buying power.

When/what is feasible? Brand new 1st bike that you finance or a used bike you pay cash for?

Didn't say they should buy a first bike brand new. I agree, that would be really stupid for the vast majority of riders. But a lot of people don't even have $2000 in cash available to spend on a used bike. That's a sizeable chunk of change if you're making a modest amount of money and have rent/utilities/bills to pay. So it's not at all unreasonable to finance it and budget in a $75 (or whatever) monthly payment. A small amount each month is easy to come up with, a large sum is not.

I feel like financing has gotten a bad reputation in light of the financial mess we're currently in, and people absolutely made really stupid decisions. But there's a big difference between financing something that's beyond your means and using financing as a tool to responsibly spread out the financial impact of a large purchase.

Also, I would argue that it's more responsible to finance than to deplete or greatly diminish your bank account's emergency buffer.

--mark

[Doc]

Also, would you rather have somebody:
A) Buy a bike they can afford with cash, but have none left for gear
B) Buy a cheaper bike that might have a questionable safety/mechanical history but be able to afford gear
C) Partially finance a cheap bike ($3-4k) in order to afford the gear that they should have.

I don't think C is irresponsible, but buying a brand new bike that you can't afford WOULD be irresponsible.

D) I'd rather see someone find a deal on a good bike without a questionable safety/mechanical history and pay cash.
It is a toy. If you don't have the money to cover it you don't NEED it. Can someone finance? Sure. Is financing "cheaper" no. You pay more over the length of the loan. Walking in with cash would be better.

If you have 3 months of emergency savings, can pay your "essentials" and have left over for savings then you save and buy a toy.

There is the "living" argument but you can "live" on $1500 bike and have just as much fun as you can on $6000 bike.

That's nonsense. I don't know anyone who has the cash to buy a house. Most people don't even have the cash to buy a car, if they're buying new.

For that matter, even many potential employers will look at your credit rating as a gauge of how responsible you are. So there are good reasons to build credit beyond just buying power.

Didn't say they should buy a first bike brand new. I agree, that would be really stupid for the vast majority of riders. But a lot of people don't even have $2000 in cash available to spend on a used bike. That's a sizeable chunk of change if you're making a modest amount of money and have rent/utilities/bills to pay. So it's not at all unreasonable to finance it and budget in a $75 (or whatever) monthly payment. A small amount each month is easy to come up with, a large sum is not.

I feel like financing has gotten a bad reputation in light of the financial mess we're currently in, and people absolutely made really stupid decisions. But there's a big difference between financing something that's beyond your means and using financing as a tool to responsibly spread out the financial impact of a large purchase.

Also, I would argue that it's more responsible to finance than to deplete or greatly diminish your bank account's emergency buffer.

--mark

You make my point Mark. You don't buy a bike if it depletes your emergency buffer, You don't buy a $2000 toy if you can't afford it. That $75 a month you would be paying on a financed Toy should be spent on investing/saving until you are in a better position.

I would argue that you CAN find a good bike for under $1000. Just takes some searching and some saving.

As for the large purchase argument, You SHOULD buy used until you have the cash to buy new. Also if you save enough and start early enough you can put a sizeable amount down on a house and have a low payment without having credit. They will look at your assets, notice you have no debt and have had none for however many years and let you finance at a low rate.

I realize this is not a perfect world but this IS the best way to go about it. How many people really do it? Not many, but I wish I knew this stuff when I was 20 (and took it to heart)

You finance a bike when you shouldn't because you want a cool bike, it is about image more than anything else. You CAN find a MUCH cheaper bike that would serve the same purpose and pay cash. It just won't be as cool.

(I am just passing wisdom, not experience, god knows I have financed stuff I shouldn't have. Only 1 bike though )

[Alvecchio]

To try to steer this back on track...

Here's my suggestion in this order:

1.) Determine amount willing to spend on getting started.
2.) Deduct cost of MSF
3.) Deduct cost of ALL necessary gear(helmet, jacket, gloves, boots)
4.) Deduct about $500 for typical accessories(frame sliders, swing arm spools, tank pad, repair/maintenance to used machine, etc.)
5.) Deduct cost of paid-in-full insurance (This could be HUGE depending on your driving record. I financed my first bike and had to pay full coverage on a 2007 gsxr-600 with 6 points on my license...big mistake).
6.) Purchase starter bike with remaining cash.

The SV650 is a GREAT starter bike. I'm currently on an ER6n (naked ninja 650) and this should have been my first bike. I got caught up in the bike hype and bought a sportbike as a first bike. You just can't really learn to ride great on a sportbike. You can learn to ride stupid, but not great. That's what the track will do. I sold that bike at a loss for a cruiser which was much more practical for how i used my bike at the time, but not exciting at all. Traded that straight up for an er6n and LOVE it. Perfect starter street bike. Thin, fun to ride, looks cool, cheap to maintain/repair, comfortable. Its great.

Good luck with whatever you do and be safe!

Alex

[markbvt]

You make my point Mark. You don't buy a bike if it depletes your emergency buffer, You don't buy a $2000 toy if you can't afford it. That $75 a month you would be paying on a financed Toy should be spent on investing/saving until you are in a better position.

In a perfect world, yes. But let's be honest here -- you only live once. Does it really make sense to live a completely spartan, utterly frugal lifestyle and save every available penny in hopes that you might some day be able to spend it on stuff to make your life enjoyable? That comes down to philosophy. Mine happens to be that I might get hit by a bus tomorrow, so I'd rather enjoy my life (within responsible limits) than live a life of austerity.

I have some perspective on this, as I way overspent when I was younger and it took me till a few months ago to dig myself out of all that debt. But I did it on my own, and if I could go back and relive my life so far, I would avoid the credit cards in the first place. I now make a point of always paying off my credit card balance in full every month and never let myself fall into that trap of "Oh, I can pay it off in two or three months."

Nevertheless, I have no problem with financing a vehicle. It's an expenditure that I simply would not be able to make if I couldn't spread out the impact, and it's a regular monthly expense that can easily be worked into the budget.

Furthermore, I would argue that a motorcycle is not just a toy. I use mine as my primary mode of transportation for 3/4 of the year. If not for Vermont winters, I probably would have gotten rid of the car long ago. If my car were to get totaled, I'd replace it with a cheap winter beater.

As for the large purchase argument, You SHOULD buy used until you have the cash to buy new.

I doubt I'll ever have $13k in cash lying around to buy that Tiger 800, for example. It's very easy for people with a relatively high salary to say you should save up the cash to buy new, but for those of us with lower-paying jobs, it's just not going to happen. And before you tell me to go get a better-paying job, (a) this is not exactly the time for it and (b) my job has a lot of fringe benefits that make up for the lower salary, such as a good health care plan and excellent work environment. I've worked in other places, and I realise how lucky I am to work where I do, even if the salary is a little lower than I'd like.

I realize this is not a perfect world but this IS the best way to go about it. How many people really do it? Not many, but I wish I knew this stuff when I was 20 (and took it to heart)

I certainly don't disagree with you on that -- I wish I'd been a lot more financially responsible in my youth as well. But I think there's a middle ground that allows you to responsibly use the tools available in our society while still avoiding a crushing burden.

--mark

[KawiSmurf]

Furthermore, I would argue that a motorcycle is not just a toy. I use mine as my primary mode of transportation for 3/4 of the year.

Agreed (although my use is more like 1/2 the year). Doc, this is probably the weakest part of your argument. Maybe it's easy for someone with race bikes to call all motorcycles a toy, but that's wrong. I don't just use mine for recreation, I also need it for daily commuter transportation. Maybe you don't, and that gives you a different perspective...which gets to my point: you can't create a golden rule for everyone's financial situation. Not to mention it's a very personal and divisive subject, so I'd be weary of my tonality when insisting upon what folks do with their own hard-earned money if were you.


And you still suck.

[NobodySpecific]

My only problem with your argument Doc is that you keep speaking in absolutes. There are times when financing can SAVE you money, provided you make the right investments with the money instead. There was a period of time when my checking account was getting 5%. It saved me money to put the down payment for my car on my credit card, because they were offering 4% for 6 months. So I financed the down payment, paid it off in those 6 months, and came out with more money than I would have spend just paying cash.

I agree, however, that you shouldn't finance something that you can't afford, or is an impulse decision, or is truly a toy. A track/race bike? You probably shouldn't ever finance that. But something that you will use more than your car? Depending on the situation it might be ok.

[Doc]

Agreed (although my use is more like 1/2 the year). Doc, this is probably the weakest part of your argument. Maybe it's easy for someone with race bikes to call all motorcycles a toy, but that's wrong. I don't just use mine for recreation, I also need it for daily commuter transportation. Maybe you don't, and that gives you a different perspective...which gets to my point: you can't create a golden rule for everyone's financial situation. Not to mention it's a very personal and divisive subject, so I'd be weary of my tonality when insisting upon what folks do with their own hard-earned money if were you.


And you still suck.

But do you NEED a new one?

Not insisting at all. Why does everyone always get so defensive?