Are you paying off your bike?

[Antallica]

Just curious as to who is actually paying off their rides, or who has paid up front. Been thinking about trading up and hooking into some finance of some form.

Votes are anonymous for those who wish to remain that way.

[NC]

I paid cash for the NC30, TZR and the 89ZXR. But I financed the 93 ZXR paid it off in 9 months so I have top credit with the finance company..

I'll be looking for finance for the SP1, that way I have to get insurance...I hate insurance!

[jimbo600]

Just curious as to who is actually paying off their rides, or who has paid up front. Been thinking about trading up and hooking into some finance of some form.

Votes are anonymous for those who wish to remain that way.

Massive personal loan. If it wasn't for debt I would have nothing.

Here for a good time not a long time.

[Motu]

35 yrs of bikes and had 2 on tick,when I was 18.If I can't pay for it,I can't have it - simple as that.

[erik]

If it wasn't for debt I would have nothing.


:laugh:

Although I can't really talk, I'm doing my best to work up a huge student loan...

I did pay for my bike in full though, it's second hand and wasn't way too expensive, so a summer's worth of work (I'm still living at home so don't have to pay for board/rent/food) and I could pay in cash.

[riffer]

If I can't pay for it,I can't have it - simple as that.
Hallelujiah to that Motu.

The very reason I don't ride a fancy new bike.

Instant gratification is not a builder of character.

Besides, too much debt gives me the screaming shits...

[Jackrat]

Bought two on tick,one on half now half in twelve months.
Don't intend to do either again.
Now it's cash up or not at all.

[wari]

I ONLy everr buy pre-de-pre-ciated bikes ...

HEnce ... olde butt good ... proven via the teste oftime .... :yeah:

YA cant beat consisstency ... :spudbooge :spudguita ...

[dhunt]

35 yrs of bikes and had 2 on tick,when I was 18.If I can't pay for it,I can't have it - simple as that.
That's how I see it too. I don't want things hanging over my head forcing me to work etc to keep payments in. Would rather own something older than have something the bank owned. That way any problems its not toooo big a deal.

[ajturbo]

i paid off my first 2 bikes, the other 6 (4 brand new) all cash up front..all though i did borrow $ 500. from wife on the xj900 :innocent: i did pay her back...when i sold the houses...yer right :whocares:

[James Deuce]

Paid it off week before last.

[bluninja]

Last 3 new bikes have been paid for....only needed finance for the insurance :whistle:

[Bonez]

Massive personal loan. If it wasn't for debt I would have nothing.

Here for a good time not a long time.
Some folk, like me, have a different perspective on life and can live with what we can afford. Prefer to save and buy cash up front myself.

[Wellyman]

You didn't have an option for a free bike! :)
Mine was free :first:

[Antallica]

Well, it's still paid in full then isn't it. Mine was 'free' as well.

[wildfire1]

As a teenager I used the mighty HP....what A lovley thing it is....
BUT now that I'm older (just in body), and starting to be responsble for money (well trying bloody hard) :innocent: My better half has steered (or is that wrestled :eyepoke: ) me away from the 'looks good on the surface - but is really evil :devil2: Hire purchase.

[Juan]

Bought the Brutale, cash.... Thanks Mum... RIP

FZ1 was on the drip, then borrowed more on mortage... drip gone!! :ride:

F4 as above :yeah:

[JohnBoy]

when i sold my last bike i wanted to go off tick. but i got bitten by the bug again when i saw the zed. wrangled a really good deposit and trade in with the shop and walked away with only 8.2% intrest. so the burden isn't too much.

[Skunk]

All four bikes are paid in full... but were on HP to start with, just paid them off fast as we could.

Debt? - ya can't take money with ya when ya go so rack up the debt and live like a king/queen! :) Just have life insurance for ya partner :ride:

[ZorsT]

Mine was free :first:

How'd you manage to get that deal? i need to find one of those.....Just got back from work (10:20am), started at 4:30. im working to try and get enough money for a bike....
When i do get a bike, im going to pay cash, in full at the start, then I can forget about paying for it and its mine, and no-one else's

[Kwaka-Kid]

I couldnt even afford to pay a bike off let alone up front.

all bikes donated/force-donated to me :P

If its not free i dont even want to touch it.

now wheres my kilt...

[rodgerd]

35 yrs of bikes and had 2 on tick,when I was 18.If I can't pay for it,I can't have it - simple as that.

I'm with you. Bikes lose value far too quickly to be paying interest on them.

[Blakamin]

I'm with you. Bikes lose value far too quickly to be paying interest on them.
Thats why you buy something thats a bit special!

[curious george]

I was of the belief, 'if you can't pay for it,you can't have it - simple as that.'
but couldn't resist my GSXR. MMMmmmmmmmmmm.
I didn't need to borrow much, and paid it back super quick, so I had a bike for summer.
Kind of had my cake and eat it too.
Interest was about $200 for 6 months, so as long as you can afford to pay it back, and calculate the interest into the purchase price, it should be a good thing.
It ment I had a private loan with the bank, I had cash to haggle with, and I could afford to be choosy about things.
I have a few people get into a mountain of debt too though...vey bad.
If you get a loan, pay the thing off as quick as you can. meh.

[Slim]

I brought my first bike on MTF at some ridiculous interest rate (22% or something! I was young, it was my first ever vehicle purchase & I didn't know any better!), then I borrowed a few grand off my Dad to buy my 2nd bike, and when I brought my current bike, I'd already saved half the value of the bike & got a personal loan from my bank at a very good rate (but not as good as JohnBoy!!!).

I am the H/P queen. Credit companies & banks love me, because I make it a point of paying off my debts earlier than required. These days, I won't H/P something unless it's interest free for the entire duration (which is just as good as paying cash, in my eyes) and I go to see my bank for everything else.

I have been valiantly denying the call of a new Truimph Daytona 600 all year, and am preparing to resist the call of the 2005 Daytona 650, in the renewed hope of paying off all of my debt by June next year (I'm finally down to under $4000).

I'm not sure how I'll do though .... :msn-wink:



Ant - if you're looking at borrowing money to purchase a vehicle in the near future, see your bank first!

[scumdog]

Only had a loan for my 1st H-D, and then it was only for about 1/2 the price as I had been saving up for that particular bike for a while but it came up for grabs before I had saved the full price.

Pisses me off when some non-riding, non-working, slack-jawed, mouth-breathing, lack-witted, improvident oxygen thief says "man, you're SO lucky having a Harley eh!" - takes me two seconds to let 'em know I didn't win it in a raffle and that I WORKED for the money I SAVED to buy said bike :angry2: :crazy:

[Antallica]

Yeah Slim, my bank is the 2nd place I'm off to if I decide to get another.

Still wondering if mine will be worth trading in. Will have to see what they will knock off the new one.

[NordieBoy]

Paid off my first Nordie so I could get a credit rating for the future.
Cash for the VT250, Savage 400, Second Nordie and the XR250.

[bevsta]

Still being on my first bike (the mighty GN250) I have never had to finance my bike through debt. I wouldn't have entered the wonderful world of biking if I couldn't mangage it on the spot at the start of this year. Pretty good for a student tho: to get licence, bike and gears without having to use any of the course related costs! Even if I do say so myself. Running into a bit of a problem now tho - have paid for the rego but a need for a new muffler has haulted wof and hence the riding. :brick: Any one got one they can lend me! Not long til Exams are over tho, then hopefully I can save some money, fix up me bike and hit the streets! :soon:

[FlyingDutchMan]

I bought my bike cash. I borrowed $300 from my dad to cover part of the bike and some insurance. I paid him back inside two weeks so it was fine with him.

Everyone I've met whos bought something HP has regretted/hated it.

[JohnBoy]

I'd already saved half the value of the bike & got a personal loan from my bank at a very good rate (but not as good as JohnBoy!!!).

if you keen... and i know that i have a soft spot for the new trumph as well, go and talk to the guys at hamilton motorcycle centre, they have a company policy to not make money on the intrest that us mere mortals pay. hence why i am only paying 8.2%, this is worked out completly on how much you borrow... any more than that the shop is ripping you off!
but not too sure with new bikes, they might have some different setup. got mine through MTF

[Slim]

if you keen... and i know that i have a soft spot for the new trumph as well, go and talk to the guys at hamilton motorcycle centre, they have a company policy to not make money on the intrest that us mere mortals pay. hence why i am only paying 8.2%, this is worked out completly on how much you borrow... any more than that the shop is ripping you off!
but not too sure with new bikes, they might have some different setup. got mine through MTF
That's 4% better than the interest rate on my personal loan! :gob:

I was aware of Hamilton Motorcycle's policy about MTF finance rates, but I didn't realise the MTF base interest rate was that low. :love2: :devil2: :shifty:

[Juan]

Looks like you ARE buying the Triumph then :rockon:

[Slim]

Looks like you ARE buying the Triumph then :rockon:
Errrmmmm..... Weeeelllllll ..... Maybe if I wait until later in 2005 they'll put a discount on whatever stock they've got left to get rid of it???? Completely forgetting, of course, that they haven't had a new Daytona 600 in the shop since I rode the test model back in Feb or March! :eek:


See what happens. My local Triumph dealer doesn't even know how they're going to be priced yet (and neither did the Triumph dealer I spoke to at Phillip Island, for that matter) let alone actually have one in the country, so I can feel good about myself putting it off for a bit longer yet. ;)

[vifferman]

First bike - sold everything I could think of, including my sister's bicycle, and my parents loaned me the rest. Paid it off in less than a year working part-time in a shop.

Second bike - paid cash. Proceeds of insurance on the first plus some money I saved while being bikeless and working in the shop.
Third bike - Freebie! But I spent $600 fixing it up.
Fourth bike - cash. Inherited the money when my grandmother died. Paid for it for months because I used the money for a bike instead of some furniture.:blank:
Fifth bike - personal loan on balance remaining from proceeds of sale of previous bike.
Sixth bike - Insurance money plus cash.
Next bike (?) - Depends on circumstances (bike cost and lust factor, cash-flow, etc.) Might have to sell one of the kids into slavery for the right bike.

I've had a few cars over the years too. Some paid for, but most via a top-up of the mortgage, or a bank loan (cheaper than HP from dealer). Of the current three, two were paid for in cash, one was added to revolving credit but is now paid off. One car is now half-owned by one of the boys ($120/week).

[JohnBoy]

See what happens. My local Triumph dealer doesn't even know how they're going to be priced yet.
im sure Heath will take an advance deposit!! he is good like that :msn-wink: