Do you owe money on your race bike?

[Matt Bleck]

After watching the first round of the Actrix series, I now have a very bad itch that needs scratching.

But the thing is I don't own my bike out right, so if/when I bin there is a risk of being the owner of a partley financed paper weight. :(

So what I want to know is, do you owe money on your race bike? Is it insured, etc. How did you weigh up the pro's n con's?

I have a hole lot of other questions but this is the one I'm most interested in at the moment.

Thanks in advance. :D

[FROSTY]

Short version dude.. No insurace on race bikes at all whilst being raced
Insurance cover for race bikes to and from and being stored is available from star insurance.
If you really wanna race ya roadie then get some crash bungs and a set of fibreglass fairings.
Theres always a chance of a decent crash on the track but ya chances are pretty good itll be a bit of panel damage will be all the damage

[Matt Bleck]

Short version dude.. No insurace on race bikes at all whilst being raced
Insurance cover for race bikes to and from and being stored is available from star insurance.
If you really wanna race ya roadie then get some crash bungs and a set of fibreglass fairings.
Theres always a chance of a decent crash on the track but ya chances are pretty good itll be a bit of panel damage will be all the damage
Yup, I didn't think that it would be insured while racing.

So would you race ya road bike with money owing on it Tony?

[vtec]

Haha, I was jacked up to my eyeballs. Had about 10g owing on 2 600's thankfully it was just to my parents, but they were making me pay interest on it at the same rate as their mortgage. Sold the bikes and got out of debt. If you can't afford to destroy it, then don't race it, however if you are sure that you're going to go out and be a pussy, and not get competitive then race what you want. Get something little and cheap to race like a 400 or a 250 4stroke.

[Matt Bleck]

lol, well if i destroy it I'd just park it up in the shed, keeping paying it off and that would be that as far as racing is concerned.

Does MTF or who ever has the finace on the bike have a say on racing the bike?

[dhunt]

I don't owe anything on my race bike but then again it's a few years old now. But I definitely prefer to buy things in cash and not have any debt hanging over my head. Even if it means I have to have older/cheaper things or wait till I have saved enough money.

I still would be very gutted if I destroyed my bike but I can start saving to fix it/get a new one where as if I still had to make payments on a bike I didn't have anymore that would really hurt.

[GIXser]

dude, if ya are gonna race it youre gonna crash it. thats the deal, i know of plenty of racers that have a huge debt cause of their bikes and racing,

then ofcourse you have to spend more money on other stuff, like entries, pit stands, warmers tires, race licence the list goes on, the debt on your bike will become insignificant ,

just do it
:)

[Matt Bleck]

dude, if ya are gonna race it youre gonna crash it. thats the deal, i know of plenty of racers that have a huge debt cause of their bikes and racing,

then ofcourse you have to spend more money on other stuff, like entries, pit stands, warmers tires, race licence the list goes on, the debt on your bike will become insignificant ,

just do it
:)
I know binning is all part of the fun!

Thanks Eddie. :D

[FROSTY]

Mat er um short version Yes . Back in the 250 proddy days you'd buy a new bike finance it and race it. Sell it end of season and pay off the finance --or at least so om told

[Matt Bleck]

Chur, so thats one for, two against, and Eddie who doesn't count cause i hear he prints his own money. :bleh:

[koba]

It is absolutley financially stupid to race a bike you owe money on.
I wouldn't say dont do it, because I know how addictive racing is but IMO if you want to spend as many of your future years racing as possible doing it without finance is the only sustainable option for a privateer, which the vast majority of us are.
Buckets and streetstock are a good cheap way to start without being too expensive, and generally it is no biggie if you prang the bikes. And you learn alot.

[Shaun]

After watching the first round of the Actrix series, I now have a very bad itch that needs scratching.


BLOODY GOOD ON YA

But the thing is I don't own my bike out right, so if/when I bin there is a risk of being the owner of a partley financed paper weight. :(


I owed ROAD AND SPORT SUZUKI and # banks, a total of $28-000 for race bike on HP and Motor tuning etc etc at the end of just 1 season in 1988/9- so i guess HELL YES

So what I want to know is, do you owe money on your race bike?
Thanks in advance. :D


Not anymore, forgotten how to stay on them:sleep:

[Matt Bleck]

Not anymore, forgotten how to stay on them:sleep:
28k!!!!! Now thats commitment for ya! I couldn't sleep at night with that hanging over my head.

Thanks for the input Shaun. :D

[Toast]

Take the plunge or else you'll put it off forever.

I took out a loan to buy my first 600 race bike 'cos I realised 2 years after deciding to go racing I still wasn't racing.

In hidsight I'd have gone for a cheap 400 or gone all the way and bought a fully prepped 600 instead of a half arsed one, it would've saved money in the long term.

[HenryDorsetCase]

Now i can afford it I am too old so fuck it, just make it happen otherwise you will be my age going "wish I was doing that shit when I was 22, 25 whatever".

[Matt Bleck]

Now i can afford it I am too old so fuck it, just make it happen otherwise you will be my age going "wish I was doing that shit when I was 22, 25 whatever".
36? :shutup:

[speed63]

Go for it. You will love it,
Buy something you dont have to borrow for. Running costs can be high. You could try the K3 in Clubmans. The risk is always there though.$$$

[HenryDorsetCase]

36? :shutup: plus nine..... :(

[HDTboy]

Nothing worse than the itch, that's why I didn't go down last weekend, nothing to do, nothing to ride, just sit there with the itch. Fuck that!
There's a couple of ways you could go about getting out there.
One option would be to sell your bike and buy this (http://www.trademe.co.nz/Trade-Me-Motors/Motorbikes/Motorbikes/Sports/auction-156697641.htm) or this (http://www.trademe.co.nz/Trade-Me-Motors/Motorbikes/Motorbikes/Sports/auction-155729534.htm). That way you start with a fast bike, and come out with some change.
Another option is throw some race fairings on your bike, take the insurance risk, and race it anyway.
Another option is to get your house re-valued, refinance the house taking into account the capital gain since you've bought it, put your bike and Kylies car onto the mortgage, pay less total interest, and effectively you then own the bike, no more finance company.
Personally I'd be going with option number 1 if you're not going to ride on the road any more.

[Matt Bleck]

Go for it. You will love it,
Buy something you dont have to borrow for. Running costs can be high. You could try the K3 in Clubmans. The risk is always there though.$$$

Bro I couldn't do clubmans on the K3, I'd get called a house thief. :shifty:


Nothing worse than the itch, that's why I didn't go down last weekend, nothing to do, nothing to ride, just sit there with the itch. Fuck that!
There's a couple of ways you could go about getting out there.
One option would be to sell your bike and buy this (http://www.trademe.co.nz/Trade-Me-Motors/Motorbikes/Motorbikes/Sports/auction-156697641.htm) or this (http://www.trademe.co.nz/Trade-Me-Motors/Motorbikes/Motorbikes/Sports/auction-155729534.htm). That way you start with a fast bike, and come out with some change.
Another option is throw some race fairings on your bike, take the insurance risk, and race it anyway.
Another option is to get your house re-valued, refinance the house taking into account the capital gain since you've bought it, put your bike and Kylies car onto the mortgage, pay less total interest, and effectively you then own the bike, no more finance company.
Personally I'd be going with option number 1 if you're not going to ride on the road any more.

The first option would need suspension mods.

I saw Shaun's K6 1000 there, that would be my pick. Wanna swap it for a K3 Shaun? :D

[speed63]

Okay, sell the K3. With the equity buy a six hundy and put race fairings on it. away you go:first:

[saul]

Bro I couldn't do clubmans on the K3, I'd get called a house thief. :shifty:



The first option would need suspension mods.

I saw Shaun's K6 1000 there, that would be my pick. Wanna swap it for a K3 Shaun? :D

Mate it would be great to see you out there:sweatdrop:rockon: Do it with a bike that you own though bro:sunny::rockon::yes:

[Matt Bleck]

So I'm still unsure about what to do. Actually I know but I'm not happy about it.

There are quit a few who race there bikes and still owe money on it.

But it seems the sensible thing to do is get it paid off first. And keep feeding the kids etc......

[moT]

If you have to borrow money to race you cant afford to race.. thats my theroy

[wharfy]

Now i can afford it I am too old so fuck it, just make it happen otherwise you will be my age going "wish I was doing that shit when I was 22, 25 whatever".

Mate your never to old - I rode my Hornet from Wellington to Taupo and wobbled around in clubmans B and rode it home again. It was F&%kn GREAT !! I am doing the whole winter series. I don't owe any money on it but if I crash I'll be taking the train to work !

[Matt Bleck]

If you have to borrow money to race you cant afford to race.. thats my theroy
Yup that about sums it up. :cry:

[Tony.OK]

Doesn't it all depend on how committed you are to the sport?
Casey Stoners parents sold up and moved to Europe to fund their sons passion at 14yrs old.What if he'd sucked?They be in the shitta!
If you really want to have a go and are prepared to owe money and not have a bike after a crash etc,then go for it!
Its no different really than some students coming away with a huge student loan and then not getting a job is it?

[Matt Bleck]

Doesn't it all depend on how committed you are to the sport?
Casey Stoners parents sold up and moved to Europe to fund their sons passion at 14yrs old.What if he'd sucked?They be in the shitta!
If you really want to have a go and are prepared to owe money and not have a bike after a crash etc,then go for it!
Its no different really than some students coming away with a huge student loan and then not getting a job is it?
hmmmmm, if I was a single man then yeah not a problem, but I'm not.

[moT]

or race in a class you can afford and you dont need to borrow for. Any racing at all is better than no racing

[Tony.OK]

hmmmmm, if I was a single man then yeah not a problem, but I'm not.

I know where you're coming from but I'm not single and have taken a bit of a leap of faith to go racing,at the moment I would struggle big time if I had a decent "off".
My wife has never taken any interest in me with bikes but came to my 1st race meet and is now totally into it......as far as telling me to borrow extra $$ to be able to have a serious go at it,suprised the hell out of me and has brought us closer together............WOW:yes:
I know everyones situation is different but sometimes you just have to follow your heart.
Sorry if that came out all soppy like,but thats how it is for me.:rockon:

[Matt Bleck]

or race in a class you can afford and you dont need to borrow for. Any racing at all is better than no racing

Thats the next optoin for me.


I know where you're coming from but I'm not single and have taken a bit of a leap of faith to go racing,at the moment I would struggle big time if I had a decent "off".
My wife has never taken any interest in me with bikes but came to my 1st race meet and is now totally into it......as far as telling me to borrow extra $$ to be able to have a serious go at it,suprised the hell out of me and has brought us closer together............WOW:yes:
I know everyones situation is different but sometimes you just have to follow your heart.
Sorry if that came out all soppy like,but thats how it is for me.:rockon:

My wife wouldn't stop me, I know that for a fact.

It's my kids that I think about the most, we are not rich by any means, living
is a week to week thing for us and if I go racing it would be with the help of a few people. I don't want my kids to miss out on things cause Dad is only thinking of himself and his hobby.

Thank you for your input Tony, and everyone else for that matter. :niceone: I do appericate it.

For me at the moment the right thing to do is wait, I will do it, but when me n the family are in the position to do it without risking the kids life style etc.

[moT]

Thats the next optoin for me.

.

you can race a rg150 in street stock !! :D

[speed63]

Thats the next optoin for me.



My wife wouldn't stop me, I know that for a fact.

It's my kids that I think about the most, we are not rich by any means, living
is a week to week thing for us and if I go racing it would be with the help of a few people. I don't want my kids to miss out on things cause Dad is only thinking of himself and his hobby.

Thank you for your input Tony, and everyone else for that matter. :niceone: I do appericate it.

For me at the moment the right thing to do is wait, I will do it, but when me n the family are in the position to do it without risking the kids life style etc.


I know exactly how you feel Paul. Responsibilities and all that. If the desire is there it is a matter of when not if. I have had to wait until the family is old enough for me to have a go. Should be a post classic age category for riders like me hehe!

If I can help in any way let me know.

[Shaun]

PM me exactually what you want to do

I may have some healthy input for you, I could also be full of shit

[Nicksta]

I know where you're coming from but I'm not single and have taken a bit of a leap of faith to go racing,at the moment I would struggle big time if I had a decent "off".
My wife has never taken any interest in me with bikes but came to my 1st race meet and is now totally into it......as far as telling me to borrow extra $$ to be able to have a serious go at it,suprised the hell out of me and has brought us closer together............WOW:yes:
I know everyones situation is different but sometimes you just have to follow your heart.
Sorry if that came out all soppy like,but thats how it is for me.:rockon:
thats pretty cool Tony.....
Your wife is lovely and its awesome to see her at the track and enjoying herself.... its awesome when a passion brings you closer to your partner :)

you can race a rg150 in street stock !! :D
not a silly idea really....
look at your budget and see what you can get/do....
I got into racing and had a budget in mind.... I bought a $3k bike and budgeted exactly what i could afford... worked out that the smaller engine of the VFR400 was great cos i learned lots of riding/racing skill and have an awesome group of racers in the same boat on 400's and its fun and competitive.... Street stock is a great cheap way into the sport.....

I owe nothing on my racing, and only spend whats in my "racing account" which i top up each payday.... I have fun even if its on a budget :)

[koba]

It's my kids that I think about the most, we are not rich by any means, living
is a week to week thing for us and if I go racing it would be with the help of a few people. I don't want my kids to miss out on things cause Dad is only thinking of himself and his hobby.

For me at the moment the right thing to do is wait, I will do it, but when me n the family are in the position to do it without risking the kids life style etc.

Don't overlook bucket racing either, it is cheap and can involve the kids too.

Altho it is not a million mile an hour supersport it is still a rush given the small tracks used.
You are probably less likey to get fucked up in a crash to the point of needing acc or whatever (always a possibilty)
It still teaches skills in racecraft that are usable later on if you dicide to play on big bikes when your situation is more conducive to that.
I think dangerous bastard was looking at starting somthing up your way if it isn't going on already....

If you have your heart set on it you will do it, even if it takes a few years :yes:

[CHOPPA]

i had to finance my previous race bike i say do whatever you can to race! Heaps of people have finance on there mx bikes sorta the same theres a large chance of blowing up a 4 stroke and thats just as expensive as havin a big crash!