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.

[FROSTY:Me]

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.

[FROSTY:Me]

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.

[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.

Not anymore, forgotten how to stay on them

[Matt Bleck]

Not anymore, forgotten how to stay on them

28k!!!!! Now thats commitment for ya! I couldn't sleep at night with that hanging over my head.

Thanks for the input Shaun.

[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".