To borrow or not to borrow?

[gatch]

I am having a serious moral conundrum.

Since around April of this year I have been bike-less and feel that a part of me has died, although some of my mates have been kind enough to let me ride their machines it is not enough.

I have been considering the option of getting a vehicle loan from kiwi bank 13.50% pa to purchase a 1990 nc30.

I know the older generation will tell me to save and pay cash which is of course the most sensible thing to do, but then this means it will be another whole year of pushbiking and watching cunts hoon past me at any given speed.

I am in a reasonably sound financial position where my wage can only increase, my only notable overheads are rent and my student loan.

Any thoughts ?

[one fast tl1ooo]

DO IT DO IT DO IT DO IT DO IT, GO ON JUST DO IT,

[Jizah]

I'll loan it to you at 10%. Plus establishment and booking fee. And an annual fee of $25. Plus an early settlement fee if you decide to pay it off quickly.

[zahria]

My thoughts are, that you would be far better off saving, and buying a dog till you can afford something better.
But, I financed my way through bikes in my early years, cost a fortune.

So, I wished I did what I said, not as I did!!

[98tls]

I am having a serious moral conundrum.

Since around April of this year I have been bike-less and feel that a part of me has died, although some of my mates have been kind enough to let me ride their machines it is not enough.

I have been considering the option of getting a vehicle loan from kiwi bank 13.50% pa to purchase a 1990 nc30.

I know the older generation will tell me to save and pay cash which is of course the most sensible thing to do, but then this means it will be another whole year of pushbiking and watching cunts hoon past me at any given speed.

I am in a reasonably sound financial position where my wage can only increase, my only notable overheads are rent and my student loan.

Any thoughts ?

Take it from an old cunt,lifes a lot shorter than it was when i was a young cunt,if your incomes solid go buy the bike......it really is that simple,enjoy.Take a wander through ward 27 at CH-CH hospital if you need any more encouragement.

[Mom]

Any thoughts ?

A couple actually. How much is this bike? What is the bottom line on the finance contract? I mean, how much will you repay over the life of the loan for the amount you actually borrowed? Is the bike worth it? Will it hold together and not cost you heaps of money during the course of the loan?

Forget recouping your money back at the end here.

Sorry, that appears to be more than a couple.

More info, then a decent answer.

[T.W.R]

Take it from an old cunt,lifes a lot shorter than it was when i was a young cunt,if your incomes solid go buy the bike......it really is that simple,enjoy.

OLD CUNT but you're right

[toebug]

My thoughts are, that you would be far better off saving, and buying a dog till you can afford something better.
But, I financed my way through bikes in my early years, cost a fortune.

So, I wished I did what I said, not as I did!!

I agree, buy yourself a shitter and do it up as you can afford it. CASH IS BEST

[Jonno.]

Go to sorted.org.nz and work out how much it'll cost to borrow and compare it to saving.

[gatch]

I'll loan it to you at 10%. Plus establishment and booking fee. And an annual fee of $25. Plus an early settlement fee if you decide to pay it off quickly.

Lol, kb's own loan shark, are my thumbs listed as collateral ?

Take it from an old cunt,lifes a lot shorter than it was when i was a young cunt,if your incomes solid go buy the bike......it really is that simple,enjoy.

Yeah I don't want to be one old those old motherfuckers that looks back and goes, I should have bought the bike.

[hospitalfood]

look around at your borrowing options. you may find a shop that will finance it at a better rate. 13.5 does not seem all that hot. and i would think that there are people out there gagging to sell bikes at the moment.

I borrowed heaps when i bought my buell new, have never regretted it, in fact did it deliberatly before I got the mortgage on the house because I knew I would not be able to after, and when I got the mortgage just borrowed a bit extra to pay the rest of the bike off and consolidate.

[98tls]

Lol, kb's own loan shark, are my thumbs listed as collateral ?



Yeah I don't want to be one old those old motherfuckers that looks back and goes, I should have bought the bike.

Shit no,ive the opposite,i did buy them and theres so many i wish id never sold.

[98tls]

OLD CUNT but you're right

Lol,another year older next Tuesday mateNo matter,me and the old slapper still give you young-uns something to think about through the good bits.Will remind you of quoted post at the impending Magpie,Grasshopper

[gatch]

A couple actually. How much is this bike? What is the bottom line on the finance contract? I mean, how much will you repay over the life of the loan for the amount you actually borrowed? Is the bike worth it? Will it hold together and not cost you heaps of money during the course of the loan?

Forget recouping your money back at the end here.

Sorry, that appears to be more than a couple.

More info, then a decent answer.

The bike on first appearance is sound, although without a viewing I cannot confirm, in saying this I would not sign on for any borrowed amount unless I was certain the bike was tip top.

As far as saving vs finance goes, sorted.co.nz tells me that with 13.5% P.A on 6K (with some imaginary fees thrown in) at around $100 a week it will be 16 months and a total of around $7,200.

I can live with this.. What is the price on ones sanity.. Seriously I'm going bat shit crazy of the prospect of this summer with no wheels.

I agree, buy yourself a shitter and do it up as you can afford it. CASH IS BEST

I've already got a project..

[Mom]

I can live with this..

You just answered your own question. Do it!