Are you paying off your bike?

**wildfire1** · 31st October 2004, 07:45

As a teenager I used the mighty HP....what A lovley thing it is....
BUT now that I'm older (just in body), and starting to be responsble for money (well trying bloody hard)

My better half has steered (or is that wrestled :eyepoke: ) me away from the 'looks good on the surface - but is really evil

Hire purchase.

**Juan** · 31st October 2004, 08:46

Bought the Brutale, cash.... Thanks Mum... RIP

FZ1 was on the drip, then borrowed more on mortage... drip gone!!

F4 as above

**JohnBoy** · 31st October 2004, 08:52

when i sold my last bike i wanted to go off tick. but i got bitten by the bug again when i saw the zed. wrangled a really good deposit and trade in with the shop and walked away with only 8.2% intrest. so the burden isn't too much.

**Skunk** · 31st October 2004, 08:53

All four bikes are paid in full... but were on HP to start with, just paid them off fast as we could.

Debt? - ya can't take money with ya when ya go so rack up the debt and live like a king/queen!

Just have life insurance for ya partner

**ZorsT** · 31st October 2004, 09:18

Originally Posted by NZ CRF230F Ride

Mine was free

How'd you manage to get that deal? i need to find one of those.....Just got back from work (10:20am), started at 4:30. im working to try and get enough money for a bike....
When i do get a bike, im going to pay cash, in full at the start, then I can forget about paying for it and its mine, and no-one else's

**Kwaka-Kid** · 31st October 2004, 09:20

I couldnt even afford to pay a bike off let alone up front.

all bikes donated/force-donated to me :P

If its not free i dont even want to touch it.

now wheres my kilt...

**rodgerd** · 31st October 2004, 09:59

Originally Posted by Motu

35 yrs of bikes and had 2 on tick,when I was 18.If I can't pay for it,I can't have it - simple as that.

I'm with you. Bikes lose value far too quickly to be paying interest on them.

**Blakamin** · 31st October 2004, 12:18

Originally Posted by rodgerd

I'm with you. Bikes lose value far too quickly to be paying interest on them.

Thats why you buy something thats a bit special!

**curious george** · 31st October 2004, 13:06

I was of the belief, 'if you can't pay for it,you can't have it - simple as that.'
but couldn't resist my GSXR. MMMmmmmmmmmmm.
I didn't need to borrow much, and paid it back super quick, so I had a bike for summer.
Kind of had my cake and eat it too.
Interest was about $200 for 6 months, so as long as you can afford to pay it back, and calculate the interest into the purchase price, it should be a good thing.
It ment I had a private loan with the bank, I had cash to haggle with, and I could afford to be choosy about things.
I have a few people get into a mountain of debt too though...vey bad.
If you get a loan, pay the thing off as quick as you can. meh.

**Slim** · 1st November 2004, 07:51

I brought my first bike on MTF at some ridiculous interest rate (22% or something! I was young, it was my first ever vehicle purchase & I didn't know any better!), then I borrowed a few grand off my Dad to buy my 2nd bike, and when I brought my current bike, I'd already saved half the value of the bike & got a personal loan from my bank at a very good rate (but not as good as JohnBoy!!!).

I am the H/P queen. Credit companies & banks love me, because I make it a point of paying off my debts earlier than required. These days, I won't H/P something unless it's interest free for the entire duration (which is just as good as paying cash, in my eyes) and I go to see my bank for everything else.

I have been valiantly denying the call of a new Truimph Daytona 600 all year, and am preparing to resist the call of the 2005 Daytona 650, in the renewed hope of paying off all of my debt by June next year (I'm finally down to under $4000).

I'm not sure how I'll do though ....

Ant - if you're looking at borrowing money to purchase a vehicle in the near future, see your bank first!

**scumdog** · 1st November 2004, 08:03

Only had a loan for my 1st H-D, and then it was only for about 1/2 the price as I had been saving up for that particular bike for a while but it came up for grabs before I had saved the full price.

Pisses me off when some non-riding, non-working, slack-jawed, mouth-breathing, lack-witted, improvident oxygen thief says "man, you're SO lucky having a Harley eh!" - takes me two seconds to let 'em know I didn't win it in a raffle and that I WORKED for the money I SAVED to buy said bike

**Antallica** · 1st November 2004, 08:06

Yeah Slim, my bank is the 2nd place I'm off to if I decide to get another.

Still wondering if mine will be worth trading in. Will have to see what they will knock off the new one.

**NordieBoy** · 1st November 2004, 08:19

Paid off my first Nordie so I could get a credit rating for the future.
Cash for the VT250, Savage 400, Second Nordie and the XR250.

**bevsta** · 1st November 2004, 09:41

Still being on my first bike (the mighty GN250) I have never had to finance my bike through debt. I wouldn't have entered the wonderful world of biking if I couldn't mangage it on the spot at the start of this year. Pretty good for a student tho: to get licence, bike and gears without having to use any of the course related costs! Even if I do say so myself. Running into a bit of a problem now tho - have paid for the rego but a need for a new muffler has haulted wof and hence the riding.

Any one got one they can lend me! Not long til Exams are over tho, then hopefully I can save some money, fix up me bike and hit the streets!

**FlyingDutchMan** · 1st November 2004, 11:34

I bought my bike cash. I borrowed $300 from my dad to cover part of the bike and some insurance. I paid him back inside two weeks so it was fine with him.

Everyone I've met whos bought something HP has regretted/hated it.