bikes, finance and interest.

[Curious_AJ]

hey, wasnt sure where to put this, but could anyone PLEASE PM me if they know anything about the interest that i would incur if i decided to get a scorpio for $3995 at a deposit of $400 and weekly payments of about $22 (these are the minimum available payments, i may decide to pay more)

thanks,
AJ

[Boob Johnson]

Usually allow for close to 50% so add another $2000 to it then divide that into "36 easy payments" :shifty:


Yes they say it's such n such a percent but when you do the sums in true terms it's closer to 50%.




If the bike is a method of transport for work then buy it otherwise id say wait a while longer, $20 per week is $1040 per annum, it's not much to save a decent deposit. That will save a huge percentage of the interest as not only is it a lot smaller amount but you can pay it off even quicker at the same rate of the larger proposed loan :done:

[dave_a]

screw going minimum payements and giving them your money, go max payements and get it out of the way,any money in your pocket is better rather than in theirs

[Steam]

.the interest that i would incur if...

Play around with this interest calculator AJ, it's real useful.
http://www.asksasha.com/loan-interest-calculator.html

Using 18% as the interest-rate, I get....
Weekly payments $22.
Total Interest: $ 2019.74
Pay-off Time: 5.3 Years

But that's the worse case scenario, that's crazy long. Play around with the calculator above, putting in different figures.

[Tank]

hey, wasnt sure where to put this, but could anyone PLEASE PM me if they know anything about the interest that i would incur if i decided to get a scorpio for $3995 at a deposit of $400 and weekly payments of about $22 (these are the minimum available payments, i may decide to pay more)

thanks,
AJ

You need to tell us over what period the loan is so that we can calculate the total amount payable - allowing us to establish the interest.

C

[bobsmith]

For a loan that small, see your bank. If you have a tertiary or graduate account or similar you can usually get much better interest rate than on other finances. For example I have a loan with national bank for 11.75% interest rate which is much better than say 18% or even more.

[Steam]

You need to tell us over what period the loan is so that we can calculate the total amount payable - allowing us to establish the interest.

The calculator link does that for ya.

[marioc]

What the hell? no offence but surely you can work out such equations.
No wonder finance companies get away with murder.

[ManDownUnder]

Depends on a couple of things, but Boob got the rule of thumb

Also - be aware you are required to know exactly what the interest payments will be by law, before you sign anything. (Credit Contracts Act). So you should be able to go through a number of scenarios with the person concered if they really want to make the sale.

[FROSTY]

No offence to the above posters but I do this for a living.
What you are being charged is
1) a booking fee -this varies from $100-$400 depending on the company
2)PPSR fee-basicly the cost of loading a security on the vehicle. this is free---9.20
3) interest on the loan.This can vary from 11% up to 28%
This is dependant on a number of factors. Who you use--bank through to Loan shark
The normal first teir interest rate at the moment is 14%
I agree that a bank loan is usually the best bet but beware hidden costs and beware the floating interest rate.
Extras--Payment protection insurance--thats if ya get crook or have an accident and can't pay
Gap Insurance--actually a good idea. Basicly it pays the difference between what the insurance company pays you out for your bike and what you owe on it-can be thousands.
Warranty--on new bikes its "free"

My normal rule of thumb for someone is --For every thousand you borrow count on $10 a week over 36 months

[The Pastor]

No offence to the above posters but I do this for a living.
What you are being charged is
1) a booking fee -this varies from $100-$400 depending on the company
2)PPSR fee-basicly the cost of loading a security on the vehicle. this is free---9.20
3) interest on the loan.This can vary from 11% up to 28%
This is dependant on a number of factors. Who you use--bank through to Loan shark
The normal first teir interest rate at the moment is 14%
I agree that a bank loan is usually the best bet but beware hidden costs and beware the floating interest rate.
Extras--Payment protection insurance--thats if ya get crook or have an accident and can't pay
Gap Insurance--actually a good idea. Basicly it pays the difference between what the insurance company pays you out for your bike and what you owe on it-can be thousands.
Warranty--on new bikes its "free"

My normal rule of thumb for someone is --For every thousand you borrow count on $10 a week over 36 months
Can you explain gap insurance in a little bit more detail? I've never heard of it before.

[FROSTY]

OK__ Say you buy a RF900 on finance (random choice of make model)
You pay $12999 for it and 90% finance. (10% deposit)
Then a month later Suzuki do a run out on these bikes at $9999.00
Your bike has instantly devalued both by the reduced value by suzuki and by simply being used
Insurance co therefore market values your bike at (figure dragged from space)
$8000.00
Ok heres where gap works.
You have a big ol accident --bikes buggered
Insurance pays out the full market value of $8000 less your exess.
BUT you still owe about $10000 on the bike. Gap insurance covers the shortfall. so GAP pays the $2000 you still owe.

[mynameis]

Don't be silly.

Paying only $400 as deposit to buy a bike at $4000 with the rest on finance/loan.

The other thing you have to consider is the value of the bike after the end of the loan term, in comparison to what you would have spent by then.

Most likely you would have spent more than $5500 and the value of the bike would prbably be around $1000 in 3 years. BIG LOSS!

Save yourself all this hassle and save every penny you can till you have $4000 and then buy the bike.

Now don't say I don't earn much have to study, blah blah blah. Move your ass and work hard to have fun with the toys you want in life.

60-80 hours per week in total of work and study should be piss easy at your age and commitment level..i.e. no kids to look after, no partner to look after, no mortgage,...but just yourself.

Don't be like the rest of the country running on debt.

[mynameis]

OK__ Say you buy a RF900 on finance (random choice of make model)
You pay $12999 for it and 90% finance. (10% deposit)
Then a month later Suzuki do a run out on these bikes at $9999.00
Your bike has instantly devalued both by the reduced value by suzuki and by simply being used
Insurance co therefore market values your bike at (figure dragged from space)
$8000.00
Ok heres where gap works.
You have a big ol accident --bikes buggered
Insurance pays out the full market value of $8000 less your exess.
BUT you still owe about $10000 on the bike. Gap insurance covers the shortfall. so GAP pays the $2000 you still owe.

FROSTY would gap insurance seriously be that effective after you add the premium that you would have to pay for it then the access plus your normal insurance premium and access ??

I know it does depend on how much you borrow and how much you pay..but still do you really think it's effective for sums of less than $10,000?

[kiwifruit]

OK__ Say you buy a RF900 on finance (random choice of make model)
You pay $12999 for it and 90% finance. (10% deposit)
Then a month later Suzuki do a run out on these bikes at $9999.00


Not that Suzuki would do such a thing

[Str8 Jacket]

Don't be silly.

Paying only $400 as deposit to buy a bike at $4000 with the rest on finance/loan.

The other thing you have to consider is the value of the bike after the end of the loan term, in comparison to what you would have spent by then.

Most likely you would have spend more than $5500 and the value of the bike would prbably be around $1000 in 3 years. BIG LOSS!

Save yourself all this hassle and save every penny you can till you have $4000 and then buy the bike.

Now don't say I don't earn much have to study, blah blah blah. Move your ass and work hard to hae fun with the toys you want in life.

60-80 hours should be piss easy at your age and commitment level..i.e. no kids to look after no partner to look after but just yourself.

Don't be like the rest of the country running on debt.

AJ, I agree with this post! I am stuck with over $10 000 worth of debt paying of my first bike that I wrote off ( I had insurance but got another bike with it) and the last bike that I owned. Even though I only loaned a small percentage for my last bike the cost of keeping it running was more than I paid for it and now I am bikeless and paying off 2 bikes I dont have and will be for another 3-4 years.
I learned a HUGE lesson and I am now saving the $$ so that I can pay cash for a new bike. You need to remember that you NEED to have extra $$ in your account to keep the bike maintained, tyres, chain, oil, sparkplugs etc as well as paying fo rego, warrant and insurance. If your paying off a loan and trying to keep the bike on the road you may end up broke...
Just my 2c.

[Edbear]

OK__ Say you buy a RF900 on finance (random choice of make model)
You pay $12999 for it and 90% finance. (10% deposit)
Then a month later Suzuki do a run out on these bikes at $9999.00
Your bike has instantly devalued both by the reduced value by suzuki and by simply being used
Insurance co therefore market values your bike at (figure dragged from space)
$8000.00
Ok heres where gap works.
You have a big ol accident --bikes buggered
Insurance pays out the full market value of $8000 less your exess.
BUT you still owe about $10000 on the bike. Gap insurance covers the shortfall. so GAP pays the $2000 you still owe.


Interesting that it is available, and probably an essential for low deposit finance. As a rule of thumb, barring accidents and market fluctuations you've pointed out - a vehicle will devalue in ideal conditions at about the rate of your payments, unless you have a particularly unique "in demand" vehicle.

So you never really have any equity in it and when selling it you'll be lucky to get what you owe on it. I think the AA years ago calculated the cheapest way to run a vehicle was to buy it new and never sell it.

[mynameis]

I agree AJ! I am stuck with over $10 000 worth of debt paying of my first bike that I wrote off ( I had insurance but got another bike with it) and the last bike that I owned. Even though I only loaned a small percentage for my last bike the cost of keeping it running was more than I paid for it and now I am bikeless and paying off 2 bikes I dont have and will be for another 3-4 years.
I learned a HUGE lesson and I am now saving the $$ so that I can pay cash for a new bike. You need to remember that you NEED to have extra $$ in your account to keep the bike maintained, tyres, chain, oil, sparkplugs etc as well as paying fo rego, warrant and insurance. If your paying off a loan and trying to keep the bike on the road you may end up broke...
Just my 2c.

You meant I agree mynameis not AJ !

[Str8 Jacket]

You meant I agree mynameis not AJ !

No I quoted your post and was agreeing with it....

[mynameis]

No I quoted your post and was agreeing with it....

You're still confused :lol: bless, morning shunshine it's 11.15 am :sunny:

[Str8 Jacket]

You're still confused :lol: bless, morning shunshine it's 11 am

No, I quoted your post and wrote, "I agree AJ".... Meaning the post I quoted. I will go back and edit it.
AJ - I agree with mynameis.

[mynameis]

No, I quoted your post and wrote, "I agree AJ".... Meaning the post I quoted. I will go back and edit it.
AJ - I agree with mynameis.

Women these days are quite complicated maybe I am confused :( Hehe.

[FROSTY]

FROSTY would gap insurance seriously be that effective after you add the premium that you would have to pay for it then the access plus your normal insurance premium and access ??

I know it does depend on how much you borrow and how much you pay..but still do you really think it's effective for sums of less than $10,000?
Access--you mean excess Im gessing. Yes you pay for GAP--nothing in life is free BUT Gap pays the difference between what the insurance co says its worth and what you owe. Its that simple
Sr8 jacket is a perfect example---with GAP she would owe nothing on her first written off bike instead of the balance of the loan

[Str8 Jacket]

Access--you mean excess Im gessing. Yes you pay for GAP--nothing in life is free BUT Gap pays the difference between what the insurance co says its worth and what you owe. Its that simple
Sr8 jacket is a perfect example---with GAP she would owe nothing on her first written off bike instead of the balance of the loan

With all due respect FROSTY. I didnt have the offer of GAP as I took out a cash loan. That last bike is the reason I am in the pooper, I should never have bought a bike without having the whole balance in cash.

[mynameis]

Access--you mean excess Im gessing. Yes you pay for GAP--nothing in life is free BUT Gap pays the difference between what the insurance co says its worth and what you owe. Its that simple
Sr8 jacket is a perfect example---with GAP she would owe nothing on her first written off bike instead of the balance of the loan

Yeap, sorry meant excess, thanks FROSTY bear :D Good example.

I guess it all depends on how much you borrow, how much you pay back and more importantly how much you owed on the bike and what value that was slapped on it by insurance company at the time shit hits the fan.

They seem to pull values out of thin air. Dooble de doo...:whistle:

[FROSTY]

With all due respect FROSTY. I didnt have the offer of GAP loan. Dont speak about things you know nothing of.
At what point did I suggest you DID? --read the post correctly
Im saying if you DID have gap the loan would have been paid. -Plain and simple

[FROSTY]

Yeap, sorry meant excess, thanks FROSTY bear :D Good example.

I guess it all depends on how much you borrow, how much you pay back and more importantly how much you owed on the bike and what value that was slapped on it by insurance company at the time shit hits the fan.

They seem to pull values out of thin air. Dooble de doo...:whistle:
Yea I agree and you're on a hiding to nothing argueing with them.
Unless you're a shitty pommy git that won't take no for an answer.

[Mikkel]

I'm just looking at those interest rates and thinking "fuck me, must be good to be a banker in NZ".

I have an overdraft limit of ~$6,000 on one my danish Visa account. I think I pay about 15% interest pro annum for what I overdraft. And they were happy to provide this overdraft limit while I was still a student. :yes:
And please bear in mind that the interest on overdraft would be significantly higher than interest on a loan. House loans have been down to about 5% pro annum for a while - dunno what they are right now.

Guess I should be a clever bastard and offer someone here in NZ finance using that... ;)

[Str8 Jacket]

At what point did I suggest you DID? --read the post correctly
Im saying if you DID have gap the loan would have been paid. -Plain and simple

GAP does not cover you when you are sold a lemon and the peice of shit dies.

[mynameis]

Yea I agree and you're on a hiding to nothing argueing with them.
Unless you're a shitty pommy git that won't take no for an answer.

Lol so true it hurts :lol: been there before that's why I am with an insurance company that will pay out on agreed value instead of bullshit "market value".

[FROSTY]

leave it alone little girl

[FROSTY]

Lol so true it hurts :lol: been there before that's why I am with an insurance company that will pay out on agreed value instead of bullshit "market value".
Agreed value in my opinion is the only way to go.--but do read the fine print on the policy.

[Str8 Jacket]

leave it alone little girl

Hey, im just warning AJ of the very real risks of finance. If she buys a lemon on finance and is paying it of she may not be able to afford to keep it going and will end up in huge debt. That was my experience, I was not naming names and it is not my fault that you are getting edgy about it. what I am saying is that I have learnt a HUGE lesson and I am trying to help her look at the big picture.

[FROSTY]

Hey, im just warning AJ of the very real risks of finance. If she buys a lemon on finance and is paying it of she may not be able to afford to keep it going and will end up in huge debt. That was my experience, I was not naming names and it is not my fault that you are getting edgy about it. what I am saying is that I have learnt a HUGE lesson and I am trying to help her look at the big picture.
Good point. :niceone: Um and I dunno if MBI is available for bikes-
Like if it was a car you bought you coulda taken a MBI (warranty) on the car to pay for repairs

[Curious_AJ]

i'll admit i havent read all the posts here... but all i was doing was asking a simple question for reference sake... lol.

have had good advice.. and i know about the whole "bike will cost about 2x more than its worth after the interest has been payed off"

i was just being curious about it.

I'd probably end up paying about 1000 to 2000 on deposit if i did decide to buy it then pay about 100 a week til it's paid off.

this is just an enquiry as i don't know shit all about interest and things like that... I'd much rather spend my time learning about the anatomy of a hamster than dealing with this sort of thing lol.

as it is at the moment, i need a ride as the bus is really not the sort of thing that works for me. I'm also looking at GN's because they're cheap. that's how desparate i'm getting.

so bare with me and my "stupid" questions.

[Curious_AJ]

as for what str8 jacket mentioned.. well the bike is new heh...

[Str8 Jacket]

so bare with me and my "stupid" questions.

No question is stupid. You're being way smarter than I was. Its always good to look at EVERYTHING when you are spending money and getting into debt as its amazing how quickly it can increase!


as for what str8 jacket mentioned.. well the bike is new heh...

Trust me, new bikes can be lemons too...... AND you still need to maintain new bikes...

[Curious_AJ]

No question is stupid. You're being way smarter than I was. Its always good to look at EVERYTHING when you are spending money and getting into debt as its amazing how quickly it can increase!

cheers...

also in relation with a post a little while back that you agreed with, where I am at the moment, i WOULD do 60-80 hours of work but it's just not possible as the jobs i am working dont have enough hours, and also, i can't get another job because I cant fit it in between the jobs i already have.. if that makes sense..lol

but i will be working fulltime in about 2 months (dog grooming yay!) so before then I'm in a HUGE complicated situation that it will take years to explain. But I am in need of a bike before i have to go work in mt albert for a month (after 2 months) ... don't get me wrong. i'm saving like a bee with honey!!

but savings account for different things, AND saving for a bike is VERY hard right now.. and I kind of have to keep putting savings in the account so the bike savings ends up suffering just a little.

[mynameis]

i'll admit i havent read all the posts here... but all i was doing was asking a simple question for reference sake... lol.

have had good advice.. and i know about the whole "bike will cost about 2x more than its worth after the interest has been payed off"

i was just being curious about it.

I'd probably end up paying about 1000 to 2000 on deposit if i did decide to buy it then pay about 100 a week til it's paid off.

this is just an enquiry as i don't know shit all about interest and things like that... I'd much rather spend my time learning about the anatomy of a hamster than dealing with this sort of thing lol.

as it is at the moment, i need a ride as the bus is really not the sort of thing that works for me. I'm also looking at GN's because they're cheap. that's how desparate i'm getting.

so bare with me and my "stupid" questions.

Thinking about finance/loan to buy a vechile is a crime itself, let alone asking questions ;) Take heed, DON'T DO IT.

You'd be better off taking the bus a little bit longer while you're saving the remaining $2000 to be able to buy it off outright cash.

[Curious_AJ]

Thinking about finance/loan to buy a vechile is a crime itself, let alone asking questions ;) Take heed, DON'T DO IT.

You'd be better off taking the bus a little bit longer while you're saving the remaining $2000 to be able to buy it off outright cash.

cheers heh...

well the bus kind of takes up all the money i can save... lol...

it costs me at LEAST 8 dollars a day to get to where i want to go. (via bus). *doh*

as for finance.. well it was a question, not a serious commitment to it. i'd rather buy it straight off. but i'm not bright with maths and interest etc... failed it all at school you see.. lol

me=VERY basic maths

[mynameis]

cheers heh...

well the bus kind of takes up all the money i can save... lol...

it costs me at LEAST 8 dollars a day to get to where i want to go. (via bus). *doh*

as for finance.. well it was a question, not a serious commitment to it. i'd rather buy it straight off. but i'm not bright with maths and interest etc... failed it all at school you see.. lol

me=VERY basic maths

Hey Curious 2 + 2 ?

[Curious_AJ]

duh, that equals 7...

:p ... actually its 4...


i can do drug calculations.. which only involve +, - and divide by and x

but other than that, i dont remember much at all of what i was supposed to have learned up til 7th form in maths (i dropped maths in 7th form coz i was too dumb to pass 6th lol)

sorry offtopic... but that explains my need for someone to help me.

yeah, and i don't do percentages very well either... i keep forgetting the equations etc.

[Swoop]

Women these days are quite complicated maybe I am confused :( Hehe.
Thank f*ck there isn't a users manual. Men still wouldn't read it.:whistle:

[FROSTY]

As a moot point of discussion.
I disagree with the point about ALL finance is bad finance.
Where I agree its bad is when you are financed up to the hilt on the latest 80 inch flat screen or a 2008 hyabusa etc -yet can't afford the basics to live--Thats just stupid.
Where finance is a good thing is a situation where you buy something sensible to get to and from work.
One guy I got a lil $4000 car on finance for. He had to do a 40 hour week because he was relying on the boss for transport.
With a car he could work weekends and extra hours --Car cost $40 a week plus fuel etc $70 a week> He earned that in one evenings overtime

[mynameis]

cheers...

also in relation with a post a little while back that you agreed with, where I am at the moment, i WOULD do 60-80 hours of work but it's just not possible as the jobs i am working dont have enough hours, and also, i can't get another job because I cant fit it in between the jobs i already have.. if that makes sense..lol

but i will be working fulltime in about 2 months (dog grooming yay!) so before then I'm in a HUGE complicated situation that it will take years to explain. But I am in need of a bike before i have to go work in mt albert for a month (after 2 months) ... don't get me wrong. i'm saving like a bee with honey!!

but savings account for different things, AND saving for a bike is VERY hard right now.. and I kind of have to keep putting savings in the account so the bike savings ends up suffering just a little.

If you keep making excuses and thinking that is the case than that's how things will unfold for you. It's called organising your life.

When I was your age 18-21 there were times when I did well over 100 hours of work a week juggling between 3 jobs. In case you don't realise how much work that is, it's working from 8 in the morning till midnight Monday to Saturday and then another 8 hours on Sunday.

Now I don't expect you or everyone to be able to do that, but where there's a will there's a way. If you want it bad enough you will go out of your way and suss things out and make it happen.

I did it because I was poor as fuck like most 18-21 year olds are. Could have fallen on my filthy rich parents but never have. I wasn't willing to go by and live a struggling life. It's called making sacrifices in life (short term temporary things) to gain something else.

THINK, think hard sweetheart :) And don't take it too emotionally it's just words of advice. Lol.

[mynameis]

As a moot point of discussion.
I disagree with the point about ALL finance is bad finance.
Where I agree its bad is when you are financed up to the hilt on the latest 80 inch flat screen or a 2008 hyabusa etc -yet can't afford the basics to live--Thats just stupid.
Where finance is a good thing is a situation where you buy something sensible to get to and from work.
One guy I got a lil $4000 car on finance for. He had to do a 40 hour week because he was relying on the boss for transport.
With a car he could work weekends and extra hours --Car cost $40 a week plus fuel etc $70 a week> He earned that in one evenings overtime

Agree with you 120% x to the power of infinity. Simply put:

Live within your means.

[Curious_AJ]

If you keep making excuses and thinking that is the case than that's how things will unfold for you. It's called organising your life.

When I was your age 18-21 there were times when I did well over 100 hours of work a week juggling between 3 jobs. In case you don't realise how much work that is, it's working from 8 in the morning till midnight Monday to Saturday and then another 8 hours on Sunday.

Now I don't expect you or everyone to be able to do that, but where there's a will there's a way. If you want it bad enough you will go out of your way and suss things out and make it happen.

I did it because I was poor as fuck like most 18-21 year olds are. Could have fallen on my filthy rich parents but never have. I wasn't willing to go by and live a struggling life. It's called making sacrifices in life (short term temporary things) to gain something else.

THINK, think hard sweetheart :) And don't take it too emotionally it's just words of advice. Lol.

cheers, well some of it is excuses.. but i AM currently trying to organise my life thanks...

but yeah i cant juggle 3 jobs at the moment because of what's comming up with dog grooming. that's what it really comes down to. I do a lot for little bits of pocket money, like washing cars, and walking dogs. i get like 2 dollars per car and per dog. but that's all i can manage to fit in coz i can mold it around what i'm doing.

but anyway, i will take heed of what you say (and i dont rely on my folks, they wouldnt give me a cent even if i really needed it anyway, even though my dad retired at 50 something).

[Curious_AJ]

Agree with you 120% x to the power of infinity. Simply put:

Live within your means.

yeah, for me i am living within my means.

i'm not looking for the flashest bike around.

[mynameis]

cheers, well some of it is excuses.. but i AM currently trying to organise my life thanks...

but yeah i cant juggle 3 jobs at the moment because of what's comming up with dog grooming. that's what it really comes down to. I do a lot for little bits of pocket money, like washing cars, and walking dogs. i get like 2 dollars per car and per dog. but that's all i can manage to fit in coz i can mold it around what i'm doing.

but anyway, i will take heed of what you say (and i dont rely on my folks, they wouldnt give me a cent even if i really needed it anyway, even though my dad retired at 50 something).

AWESOME STUFF !! What I hear and see is effort, which is good, remember it's a learning process, things aren't going to happen over night and it's good to see you're making an effort. Well done.

There are some lazy pigs who don't do jack all and make excuses all the time you know who I am on about. Good to see you're making an effort and are on the right track.

[Curious_AJ]

AWESOME STUFF !! What I hear and see is effort, which is good, remember it's a learning process, things aren't going to happen over night and it's good to see you're making an effort. Well done.

There are some lazy pigs who don't do jack all and make excuses all the time you know who I am on about. Good to see you're making an effort and are on the right track.

thanks. :)

sometimes it's hard to get people to see that you're doing something about it and not just whinging.

on the topic of buying bikes though, I have been looking at GN's not very hard because of some comments I have heard about them mind you. But aside from the negative comments, does anyone know where I can go to look at a decent second hand one? or an extremely low-priced new one... rofl.

[FROSTY]

AJ heres my sugggestion aimed directly at YOU.
Get your finance organised FIRST. You don't have to actually draw the loan down Just do the hoop jumping to get it 100% aproved.
Then on theat basis go bike shopping. Ya might still go full circle and get a scorpio or a GN but the power is yours then.
I saw a scorpio on Tard me -2007 1 owner 4000km --2500ono
or maybee youll be able to negotiate a better deal with a bike shop

[Curious_AJ]

AJ heres my sugggestion aimed directly at YOU.
Get your finance organised FIRST. You don't have to actually draw the loan down Just do the hoop jumping to get it 100% aproved.
Then on theat basis go bike shopping. Ya might still go full circle and get a scorpio or a GN but the power is yours then.
I saw a scorpio on Tard me -2007 1 owner 4000km --2500ono
or maybee youll be able to negotiate a better deal with a bike shop

thanks. yeah, i'm still thinking over options... just got back from work and sorting out more hours... after next week i have 2 full 5 day weeks ahead of me (after that i don't know, it changes as i'm not actually a permenant fixture there, it's only a provision set up by my soon-to-be boss (groomer) that i work there until she can take me for training ) and i need to see if i can squeeze in hours with my other job as well. so i may be getting a great load of money coming in soon, which could enable me to be able to buy a bike straight off in a shorter amount of time.

(if all fails i'll get a scooter lol, but I REALLY dont want to do that since i'll have my license in about 2 weeks time ;) )