Bike debt = ?

[YellowDog]

Yu will be ble to get great value on a thousand cc bike quite soon.

So far as how much debt to take on board, the answer has to be after you have financed all of your gear and extras, how much can you comfortably afford?

If it's not comfortable, don't do it.

[Molly]

Any bike debt is too much debt. Save your debt for the mortgage. You can have a blast on a cheap-as-chips bike.

If you borrow $20k for a bike, I guarantee you'll come to regret it.

[westie]

Yo, sell your bike before you entertain the thought of buying another one.
The load of cash in your pocket could make you proud enough to keep it.
I still got half the money i got for my R6 after buying my bike.
DONT go finance!
Go through your bank. You may be able to get a better deal through some finance company but they will screw you.

I bought a $7500 boat.
Payed the loan repayments for over a year
Sold the boat for $10000
Handed over $9800 to get rid of loan with MARAC(losers)

Get a dirt bike!

[Gremlin]

always bought what I could afford in cash

No finance for this fella, not to mention all the horror stories of evil finance companies

[Forest]

Don't go into debt to buy a toy.

[Maki]

Don't go into debt to buy a toy.

What he said.

[Conquiztador]

A bike loan of $20,000.00 with an interest rate of 16%, start up fees of $250.00, and a repayment term of 24 months would cost:

Bike loan repaid over full term of contract.
Weekly repayment amount $227.82.
Interest paid $3,443.38.
Total paid $23,693.38

If you are on $17/h and work 40 hours you get $680. Take tax off and you have approx $540 left.

After you have paid for the bike there is $ 312 left to play with a week.

If you can survive on that and pay everything else including Insurance then why not?

You only live once. And if you are to sit and save for 2 years, that is 2 years you could have enjoyed the bike. And you would have saved $3,500...

Oh and to the ones who recon you should buy a house first... You look funny coming down the road on a house.

But I recon you could get a lower interest.

Good Luck!

[Rodney007]

A bike loan of $20,000.00 with an interest rate of 16%, start up fees of $250.00, and a repayment term of 24 months would cost:

Bike loan repaid over full term of contract.
Weekly repayment amount $227.82.
Interest paid $3,443.38.
Total paid $23,693.38

If you are on $17/h and work 40 hours you get $680. Take tax off and you have approx $540 left.

After you have paid for the bike there is $ 312 left to play with a week.

If you can survive on that and pay everything else including Insurance then why not?

You only live once. And if you are to sit and save for 2 years, that is 2 years you could have enjoyed the bike. And you would have saved $3,500...

Oh and to the ones who recon you should buy a house first... You look funny coming down the road on a house.

But I recon you could get a lower interest.

Good Luck!

cheers for the input guys, yah you pretty much hit the nail on the hammer...
thats pretty much my financies exposed
my jobs very stable. its there as long as I dont fuck it up.

It is very VERY tempting but, I think I will just pay off a bit more, then dip in, cause lighter loads feel better on my shoulders.

[westie]

I'd use the hammer to hit the nail bro....