In debt... To be or not to be?

[faredce]

so im a student who spent awhile trying to save money to buy my first bike.

i ended up getting a loan from the bank to help out now im in debt and i hate it. its the first time iv been in debt and now i second guessing that decision.
its a $5 grand loan and i wondering if i should keep the bike and spend my money on getting out which for me could take a while or if i should just sell it and pay it off.

i love my bike and i figure that once its gone il be reali disapointed that iv lost it.
its an aprilia rs 125 awsome bike its got a bit of fairing damage but runs beautifully and even if i did want to sell it im not sure how to go about it.

so heres the question.....do i stay in debt and enjoy my first bike or sell it, hopefully get out of my debt but be bikeless for god knows how long??

what do u guys reakon?

[magicfairy]

You only live once, enjoy the bike.

[smokeyging]

i think you should keep your bike, you'd loose too much on it anyway i'd imagine. 5 grand is really nothing, just make sure you don't put yourself under more financial stress.

[RC1]

keep it ,you will kick your self for months if you sell it and arent able to get out on the road

[Disco Dan]

Sounds like your still pretty young yeah? Well it will do your credit rating good to pay the loan off quick smart, but selling your 'asset' to do so does not sound like the best way.

Be careful, it is very easy to get into a viscous circle with loan turning into loans then consolidation and then before you know it you cant pay and you have over $50,000 worth of debt...... and no choice but bankruptcy.... which is pretty much what happened to me - you do not want that to happen!!!

My advice, is pay your existing loan off as soon as possible - then you can begin saving, before you know it your ready for another bike and you can then sell your current ride add your savings... and your a cash buyer.

[rie]

it will do your credit rating good to pay the loan off quick smart, but selling your 'asset' to do so does not sound like the best way. .

i agree with discodan on this point. you really need to crack down on your spending and make sure you pay off that 5g asap. make extra payments everytime you got 20 bucks spare instead of thinking 'sweet i can have a few more beers in the weekend'.

in the meantime you can use your rs125 to learn to ride properly. you won't regret it and you are going to have the time of your life :)

[Ixion]

In general, I go by the principle that if you can't pay for it, don't have it.

But, principles must always be adapted to reality. In your case, the amount is not large (I know that $5k seems a lot to you, but in the world's context it is a small sum); and the purpose is sensible. You need transport. If you didn't have the bike, you'd be paying out on bus fares and such like. And social mobility is worth a good deal.

And the bike you have chosen is an eminently sensible one for a student, which speaks well for your prudence and commonsense. SO I do not think that the loan will lead you down the slippery slope of fiscal imprudence.

I'd say keep the bike. But, make it an absolute rule not to incur any more debt (except student loans) until this one is paid off. If you must needs owe money, let it be only for one thing at a time.

Can you not arrange a wee fiddle and put the sum into a student loan? I hardly consider student loans as debt, they incur no interest and hardly even need to be repaid (or at any rate not until you are making so much money that it is no hardship)

[HornetBoy]

Hold on to the bike,but make sure you keep it in good nick so once you upgrade you don't lose too much money ,and if your really good you can sell it for more than you brought it for and actually make money :whistle:

You could use the $1000 "course related costs" to put an advance down and lower the amount of interest on your bank loan.

[mashman]

Don't sell the bike, transport will open more doors for you and give you more time by going to and from where you want to be... having said that a part time job/second job might be worth it to pay it off earlier... earn your toys, they seem much sweeter after that... trust me... (7 years and lots of hard work for this... and worth every minute)

[McJim]

I took out a $5K loan for my first bike. Luckily I was able to pay it off within 2 years and still have a bike.

I stopped smoking the day I bought the bike because the amount I spent every week on smokes was more or less equal to the amount I would be spending on the repayments. Promised myself I would sell the bike and repay the loan if I was ever weak enouh to start smoking again (the desire to keep the bike was strong!)

[hang0ver]

I sold my last bike a couple of months back due to debt, and I'm still kicking myself about it now...

Especially when I split with my girlfriend a couple of weeks later! Suddenly all this time & no bike... Then my dog ran away (cue sad, sad country song).

Hold onto it long as you can & like Hornet Boy said, keep it running well so you can get its worth back.

_-H-_

[kevfromcoro]

AS stated in this thread...keep the bike.....if you sell it ..you are still going to use public transport.....probably a lot dearer than the repayments on the bike......add it up...5k isnt a lot of money.....

[Bren]

as they said...

It is easy to dig yourself in a financial hole with too many loans, and today it is dead easy to get loans. Keep the bike, keep your loans down to a minumum, but is always good to have a credit history so that when you need a big loan the credit companies have something to judge yo by...keep the bike, pay your debts weekly before anything else, and then budget accordingly...

[Toaster]

Well, can you afford to keep the loan as well as fuel the bike, insure it and maintain it as well as live (food, rent, lapdances and other essentials etc etc).

Life is a real balancing act mate. Sometimes you have to borrow... just don't get too far in debt that you can't afford to repay it.

[FROSTY]

I'll go against the trend here. Sell the lil 125. Great fun bike no question but eventually its gonna need a top end rebuild that you by the sounds of things can't afford.
But don't be bikeless. Sell the RS pay the loan off then with what you have left buy something you can afford.
THEN carry on "paying off" the loan.
The money you are saving will mean you'll have the money for another RS really quick

[faredce]

hey cheers guys.
i do have a job i earn around $200 a week and then including my student allowence. i have never gotten into debt before and always saved so this was some unchartered territory for me so thanks. i think i will hold onto it. already my riding skills have improved in leaps and bounds still a few things i need to work on and the bike has helped me view more of otago in the last few weeks than in the last 3years.
petrol even at the current price will cost me $15ish every week or so. so no biggie.
i think i will go into the bank and sit down with them because i believe i can afford larger repayments comfortablly but because im a student they dont think so even tho my rent is only $75 a week and $20 a week aside for bills covers it so i have enough.

anyway guys cheers!

[Nagash]

I'd say you'd be nearer enough forced to keep it..

A 1996, these days is really gonna get you bugger all when you try to sell it off again. Use it to improve your riding and really make it worth the effort to have bought it.

I'm just paying off the last 800 on my last bike that I bought which got written off before I paid off the loan.. and i'm taking another loan to buy my next bike! I can't go without riding..

[scumdog]

I go with the 'sustainable level of indebtness' school of thought.:yes:

If it ain't going to send you to the poorhouse the keep it - just pay off your debt asap all the same.

[awayatc]

Everything in life costs money....so as long as you can afford your hobby/interest /lifestyle and the expense is worth it to you....go for it.
Work out how much the loan itself costs you each week....and compare those cost with other ways you could "waste" your money...
Since your bike is transport and hobby, you'd be hard pressed to find a bigger bang for your buck i believe.....

[FJRider]

I go with the 'sustainable level of indebtness' school of thought.:yes:

If it ain't going to send you to the poorhouse the keep it - just pay off your debt asap all the same.

What he said. Credit ratings are important, so keep the payments up to date. Even if you can't afford to go anywhere...sometimes. Sell the bike and you LOSE money. Pay the loan off on or UNDER time, and the next loan will be easier to get(for the next BIGGER bike)

[faredce]

yea iv got the automatic payments going so its looking after itself atm. unfortunately the payments off the principle are barely bigger than the intrest payments so its moving slowly...yea i didnt think id get to much there are a few on trademe trying to sell for $8k and mines only done 9000kms so its still in good nik.

i just went for a ride. i cant sell it i love it!

[Renegade]

yeah watching the principle vs interest on your statement is probably just getting you down, try not to look every week, this is when a second job doing 5-10 hours a week going directly on your loan will give you a real boost, you may hate the job but all you have to do is have a glance outside to remember why you are there, then when you look at your statements you will feel better.

[homer]

if your going to worry about money on a hp , then you ll be worrying about all loans you may get in future .
best keep the bike and put the loan out of mind , just keep paying it
i have a lot going out on hp atm .
i dont really care , the cost of selling something to start over again is pointless.

its a motorbike , and ive found it takes no time to pay it , as its a toy for pleasure time goes quick .

[FJRider]

The cost of selling something to start over again is pointless.


What he said.

[Maha]

Well, can you afford to keep the loan as well as fuel the bike, insure it and maintain it as well as live (food, rent, lapdances and other essentials etc etc).

Life is a real balancing act mate. Sometimes you have to borrow... just don't get too far in debt that you can't afford to repay it.

The best post so far, and what Ixion said, everyone else overlooked what it takes to totally survive (apart from the lap dancers :baby:) Its not only about the bike. I have just managed to pay for mine, its taken 4 years to get the point where I own two bike's and owe nothing, now I can go to a bike shop and purchase anything I want. Getting there wasn't easy, I hated the loan I had and the interest rate but stuck at it to get a AAA credit rating. If the loan doesn't hurt that much keep at it, soon enough you may be able to pay it out...ask for a settlement figure, that figure maybe within your reach when you do then its game over, bike is yours.
Its tough but if you sell it you wont get what you owe on it and you will still owe the finance company.

[JimO]

jeez i wish i only owed 5k even 55k would be marvelous

[faredce]

Its tough but if you sell it you wont get what you owe on it and you will still owe the finace company.

yea thats what i was concerned about when i thought about selling. i could picture selling not being able to pay off the complete loan amount and being bike less and that would suck.
unfortunatly another job isnt on the cards with uni and my current job im a bit strapped for ne extra time and what i do have i enjoy riding my bike lol.

you guys have been pretty helpfull ay. i can hear the ole been there done that and i think i just needed someone to tell me what i already knew haha. plus i know for a fact if i sold the bike i would have been totally guttered when it sunk in. iv been dreaming about getting a bike for years and i have loved every minute on my bike even wearing my armored jacket puts a smile on my face haha......i am a biker through and through. now the next step is to learn some basic bike mechanics i like to get my hands dirty but never had a chance to learn

[LilSel]

Keep the bike... pay it off quicker n you'll have a good rating...

I have recently 'upped' my payments n once I sell one of my cars ill be debt free in about 10 months :) then i'll sell my bike, use the $$ from that for deposit on new bike n with some savings it'll take jack shit time to pay off...
so long as your not paying shitloads in interest, its a good way to 'get started'... I didnt have any 'loans/debt' before I got my bike n mags for car, laptop etc etc... now its almost all paid off n I have an excellent credit rating.
can only help for the future (house loan) :)

[Zoolander]

Just keep it, pay a little more onto the loan whenever you have some spare (it'll get the debt down but also save you a lot in interest costs), I've borrowed for pretty much all my bikes, got them paid off quick, never got in over my head, and now have a great credit history which will help me out down the road if/when I buy a house etc. Just keep it under control, eg don't go borrowing more for an exhaust system etc just yet.

[cowboyz]

I sold my last bike a couple of months back due to debt, and I'm still kicking myself about it now...

Especially when I split with my girlfriend a couple of weeks later! Suddenly all this time & no bike... Then my dog ran away (cue sad, sad country song).

Hold onto it long as you can & like Hornet Boy said, keep it running well so you can get its worth back.

_-H-_
kinda thinking you should probably head off to mitre 10


And agree with general concenus. Keep the bike and keep it in good nik. Pay off debt as fast as you can but dont run yourself short or you will soon get sick of life and find yourself robbing peter to pay paul. Keep a steady budget going so you dont end up with the highs and lows of cashflow. better to have the same ammount of money each week to know what you have and get used to livigng on it.

[Boob Johnson]

kinda thinking you should probably head off to mitre 10


And agree with general concenus. Keep the bike and keep it in good nik. Pay off debt as fast as you can but dont run yourself short or you will soon get sick of life and find yourself robbing peter to pay paul. Keep a steady budget going so you dont end up with the highs and lows of cashflow. better to have the same ammount of money each week to know what you have and get used to livigng on it.
I agree 100%. Take a close look at every area of spending & get creative on tightening the belt. Where there is a will there is a way.

[NOMIS]

For me I would get out of debt asap

I had almost 40k in debt beginning of last year, during then untill now I have just under half of that and I purchased my bike and gear. Work hard while your young man and you will soon see your self with another bike.

Ill still be working hard to see my debt gone and save enough to get me into the USA est around $6000, Going to give my self 16 months to do it.

[mattimeo]

Since everyone else has thrown in their 10c I'll add mine, since I'm a student in a similar position. One difference is my loan being from my parents - and I'm having no real difficulty paying it off.

For me having my pair of wheels is a lifeline to the outside world. Uni life can be pretty full on and being mobile and able to escape is worth a ton. I resisted the urge to buy a big bike but wanted something I could travel some distance on - so went for a Zephyr 550 instead of an uber lightweight (<250cc...)

[Toaster]

jeez i wish i only owed 5k even 55k would be marvelous

yikes!!! student loan?

[klyong82]

Hard choice here to make as I agree with Frosty that having a 2-stroke can cost quite a bit to maintain compared to a 4-stroke. If you were to sell it now then you will be losing alot of money given the economic environment now. There is also the other factor of whether you are using the bike as a daily commuter or just weekend rides. If it sits in the garage and only riden on weekends then sounds like a waste.

In my opinion, debt is something I dislike and would advice you to quickly pay the debt back should you decide to keep the bike before it grows to an unsustainable amount.

[scumdog]

jeez i wish i only owed 5k even 55k would be marvelous

Sorta the same here 'jeez i wish i only owed 55k....':whistle::crybaby:

[McDuck]

I borrowed for my 400, 2k. At the moment i am paying about 25 per week for it and am thinking about upping that to 30.

[breakaway]

If you have to set up a 'loan' for something under $5000, then you don't need it. I'm never buying anything on hire purchase. Except a house maybe.

[hang0ver]

kinda thinking you should probably head off to mitre 10


Amen to that... Do a whole bunch of DIY & hope like hell that hot Dog Control lady turns up.

[McDuck]

If you have to set up a 'loan' for something under $5000, then you don't need it. I'm never buying anything on hire purchase. Except a house maybe.

but what if it is worth 5k and you only have 4 saved do you still not 'need' to get a 'loan'?

[yod]

revolving credit @ 10.5% and no fees

yeehah

[cowboyz]

you have to be REALLY good with managing money to manage a revolving credit situation. They have their uses but I would strongly suggest staying away from it.

[90s]

so heres the question.....do i stay in debt and enjoy my first bike or sell it, hopefully get out of my debt but be bikeless for god knows how long?? what do u guys reakon?

Keep the bike. Replacement costs & ongoing transport costs would make you a loser overall. Maybe do some temp work to get teh debt down quick, although your studies may suffer. I don't do debt (mortgages aside) & when I was an undergrad worked holidays, weekends and nightshifts in a warehouse.
Most sensible idea overall is Ixions on the student loan concept.


I sold my last bike a couple of months back due to debt, and I'm still kicking myself about it now... Especially when I split with my girlfriend a couple of weeks later! ... Then my dog ran away (cue sad, sad country song).

I can not resist: -

[Badjelly]

If you have to set up a 'loan' for something under $5000, then you don't need it. I'm never buying anything on hire purchase. Except a house maybe.


but what if it is worth 5k and you only have 4 saved do you still not 'need' to get a 'loan'?

Nope. Wait until you've saved a bit more or buy something cheaper.

[Ryan432]

here is what you do:
You are a student, so first of all get out your course related costs $1000, put it all in the loan, then (provided you are at least second year), open up two bank accounts (at different banks obviously)and take advantage of their intersest free overdrafts at $2000 a piece, now you loan is intrest free for as long as you are studying and the feeling of financial pressure is lifted! You will prebably save over a grand in intrest this way as well as being able to take longer to pay off the loan.:banana::cool::apint:

[Boob Johnson]

you have to be REALLY good with managing money to manage a revolving credit situation. They have their uses but I would strongly suggest staying away from it.
Too true, ive suggested to clients to either not run the LOC or limit it to a low amounts each month what ever works to limit that impulse spending.

[Ixion]

here is what you do:
You are a student, so first of all get out your course related costs $1000, put it all in the loan, then (provided you are at least second year), open up two bank accounts (at different banks obviously)and take advantage of their intersest free overdrafts at $2000 a piece, now you loan is intrest free for as long as you are studying and the feeling of financial pressure is lifted! You will prebably save over a grand in intrest this way as well as being able to take longer to pay off the loan.:banana::cool::apint:

Students get interest free overdrafts ? Tell me more.

[Ryan432]

Students get interest free overdrafts ? Tell me more.

Students at uni get a $1000 overdraft for you first year of study which can be increased to $2000 once you get to second year, most banks offer this, you just need to have your main source of income credited into the account (which I have heard is not actually necisarry(sp?)). You could easily get around that by setting up a driect credit form your main account though. They charge 2 buks a month for the facility but no interest! yay!:yes:

[McDuck]

here is what you do:
You are a student, so first of all get out your course related costs $1000, put it all in the loan, then (provided you are at least second year), open up two bank accounts (at different banks obviously)and take advantage of their intersest free overdrafts at $2000 a piece, now you loan is intrest free for as long as you are studying and the feeling of financial pressure is lifted! You will prebably save over a grand in intrest this way as well as being able to take longer to pay off the loan.:banana::cool::apint:

That good sir is bullshit. 1) You have to have your study link payments with the bank you have the overdraft with. 2) It is not 2000 till your second year BANKING with that bank under the student poilicys, for the first year it is only a grand. 3) When they set it up they ru a credit check which tells them which other banks have been looking at you.

If you try to screw the system they tell you to fuck off.

[Ryan432]

That good sir is bullshit. 1) You have to have your study link payments with the bank you have the overdraft with. 2) It is not 2000 till your second year BANKING with that bank under the student poilicys, for the first year it is only a grand. 3) When they set it up they ru a credit check which tells them which other banks have been looking at you.

If you try to screw the system they tell you to fuck off.

They dont really care about most of that,(the asb lady told me when I went to set up my $2000) they will do anything to get you while your young, however, even with a single account and your course related costs you could knock the loan down to only paying interest on $2000.

[McDuck]

They dont really care about most of that,(the asb lady told me when I went to set up my $2000) they will do anything to get you while your young, however, even with a single account and your course related costs you could knock the loan down to only paying interest on $2000.

How long ago was this? I have been through this in the past month and a half, banking and loans are a very different ball game in the current climate.

[Ryan432]

I set it up about two months ago, I think it depends on who you speak to at the bank aswell, someone who is willing to go and check with their superiors or someone who isnt and just says it can't be done, luckily I got a cool girl who hooked it all up there and then for me!

[McDuck]

I set it up about two months ago, I think it depends on who you speak to at the bank aswell, someone who is willing to go and check with their superiors or someone who isnt and just says it can't be done, luckily I got a cool girl who hooked it all up there and then for me!

I to got a person who was willing to go against the rules to get me what i wanted, study link and 200 dollars a week steady income was not enough for the credit department to give me the loan, she over rode them. Did you get yours before all the finance company collapses or after?

[Mike748]

Sounds like you're already sorted.
In hindsight you could have got a cheaper 4st and that would have made life a little simpler but I agree that you would loose too much money trading it or selling it. So if you can stick with it then get it paid back ASAP.

To put it in a different perspective, wait till your looking at a house and your interest only repayment is over 20k/pa you'll then realise your current situation isn't so bad afterall.

[Ryan432]

Did you get yours before all the finance company collapses or after?

I think about halfway through the whole saga? I think they are more lax with overdrafts than loans tho

[Dafe]

Why did you get a bank loan when student loans are interest free?

I purchased my first bike using a student loan, the days of the KR1-S 250.

[McDuck]

Why did you get a bank loan when student loans are interest free?

I purchased my first bike using a student loan, the days of the KR1-S 250.

Because of people like you we have to provide proof of cost up to 1000 dollers.

[faredce]

Why did you get a bank loan when student loans are interest free?

yea the government talks with ur education provider and pays them the fees directly the only thing u can influence is the course related costs.

im sure u can get an overdraft with any bank i have mates in debt with damn near every bank...i may go talk to them cus its the intrest that will hurt me in the long run

[breakaway]

but what if it is worth 5k and you only have 4 saved do you still not 'need' to get a 'loan'?

If you can't pull 1G together at a moment's notice then clearly you don't know how to manage your shit and shouldn't get a loan.

[McDuck]

If you can't pull 1G together at a moment's notice then clearly you don't know how to manage your shit and shouldn't get a loan.

Or maby all you could pull together was the 4k out of the 5 needed.
Or maby i used it as an example to find your opnian....

[breakaway]

Or maby all you could pull together was the 4k out of the 5 needed.

Well then you don't have enough money now do you?

However, I can see where you're coming from. I've always found that I never have enough money to buy my bikes. When I was buying my RG150, I was $800 (bike was $1800) short which I arranged in the last 6 hours. Hell, I paid the guy with $2 and 50c coins out of my wallet. And for the SV, I had to borrow from parents.

But I don't think that it's wise to get a loan (especially when young, and at uni). Way to easy to get in over your head.

[McDuck]

Well then you don't have enough money now do you?

However, I can see where you're coming from. I've always found that I never have enough money to buy my bikes. When I was buying my RG150, I was $800 (bike was $1800) short which I arranged in the last 6 hours. Hell, I paid the guy with $2 and 50c coins out of my wallet. And for the SV, I had to borrow from parents.

But I don't think that it's wise to get a loan (especially when young, and at uni). Way to easy to get in over your head.

Lol, i think what it comes down to is knowing exactly what you are in for and what the future holds (to an extent). I for example know that at the end of the year i will be going out into reasonably payed work (ok it will be relatively shit pay at first) but then over the next few years i will move up into a position where i will be well in control.

But a lot of the people who go out and get loans during uni don't know what is up ahead, and often have years of study left. That is stupid.

[discotex]

Lol, i think what it comes down to is knowing exactly what you are in for and what the future holds (to an extent). I for example know that at the end of the year i will be going out into reasonably payed work (ok it will be relatively shit pay at first) but then over the next few years i will move up into a position where i will be well in control.

But a lot of the people who go out and get loans during uni don't know what is up ahead, and often have years of study left. That is stupid.

Good in theory... In practice you'll find the extra money isn't as much as you'd hoped after booze and buying all the other shit you could never afford before.

It's much better to commit to a loan based on your current circumstances than the best case scenario you have in your own mind.

And breakaway is totally right. If you've (the hypothetical you not you personally) got 4k out of 5k then you don't need a loan. Save the last 1k or buy a 4k bike.

Using debt to finance anything that doesn't bring in an income is a mugs game that the finance companies and banks are more than happy for you to play. The one exception to that is the family home.

[McDuck]

Well i dont drink (apart from wine tastings) so that should help.

Oddly i dont like many wines that sell for less than about 60 bucks a bottle. Bugger that.


What ever the outcome i am happily paying off the 400 and hope to have it payed off withen 12 months.
And student loan within 3 years.

And own a kiwifruit orchard withen 10 years.

Hows that for unrealistic?

[TOTO]

keep tfe baik

[Dakara]

Getting a loan as a student can be hard, but really 5k is nothing, (so long as your not getting raped on interest).

I've taken out a lot of loans over the past 7 or so years to buy more toys, and the advise I have is pay it off as fast as you can, and don't take out anymore loans until you have. I would always pay mine off within a year to avoid paying too much interest... repayments were higher and I was struggling but cost me less in the end.

A friend of mine however, takes out 5 year loans at $25 dollars a week... now he owes about 40k because he was paying them off so slow, that when he wanted something else he added it to the existing loan :spanking:

However, if you can commit yourslef to making regualr re-payments, fuck the bank loan and get a low interest credit card. Currently my bank charges 17.95% for loans, whereas the Low Interest Visa I have with them is at 13% and with the Visa I can pay as much/little as I can afford each week. The downside is if your not disciplined to pay it off you'll go backwards, whereas a loan you have set re-payments.

[jade]

so im a student who spent awhile trying to save money to buy my first bike.

i ended up getting a loan from the bank to help out now im in debt and i hate it. its the first time iv been in debt and now i second guessing that decision.
its a $5 grand loan and i wondering if i should keep the bike and spend my money on getting out which for me could take a while or if i should just sell it and pay it off.

i love my bike and i figure that once its gone il be reali disapointed that iv lost it.
its an aprilia rs 125 awsome bike its got a bit of fairing damage but runs beautifully and even if i did want to sell it im not sure how to go about it.

so heres the question.....do i stay in debt and enjoy my first bike or sell it, hopefully get out of my debt but be bikeless for god knows how long??

what do u guys reakon?

Keep the bike, I would probably be better off without the debt..
But spending a decent percentage of my pay on my loan for my bike is well worth it, I dont give a fuck if Im flat broke every week as long as I can afford fuel and 2 stroke oil
I got an 8 grand loan to get my rs250.. worth every penny every week..
The key is to pay it off quickly..

[Dakara]

Course the other aspect to consider:

Fuel cost to commute by car: $130 pw
Fuel cost to commute by bike: $30 pw
(for me anyway)

Makes paying off a loan pretty easy :cool:

[McDuck]

Course the other aspect to consider:

Fuel cost to commute by car: $130 pw
Fuel cost to commute by bike: $30 pw
(for me anyway)

Makes paying off a loan pretty easy :cool:

Well my situation is currently paying 80 bucks a week gas (for car) so am going to move to within walking distance of tech :)