Should I finance my bike?

**matoc** · 6th January 2009, 13:09

I say go for it. I was in a similar situation a few years back. I was on my learners but got bored of my CBR250RR, so I maxed out my student loan and financed a brand new 2007 R6. Best decision ever.

The logic is quite simple: if you're not dead after 5 years of riding one of those babies then you're not riding it properly.

I say go for it, fuck the tax payers. Do what you want.

**hmurphy** · 6th January 2009, 13:12

Originally Posted by matoc

I say go for it. I was in a similar situation a few years back. I was on my learners but got bored of my CBR250RR, so I maxed out my student loan and financed a brand new 2007 R6. Best decision ever.

The logic is quite simple: if you're not dead after 5 years of riding one of those babies then you're not riding it properly.

I saw go for it, fuck the tax payers. Do what you want.

Ah..... the right attitude. What say everyone else?

**bondagebunny** · 6th January 2009, 13:14

when the taxpayers say fuck your hospital care, your rehabilitaion , your lifetime of ACC payments should you ever need to avail yourself of them.

**R6_kid:Me** · 6th January 2009, 13:24

Originally Posted by hmurphy

Ah..... the right attitude. What say everyone else?

I was in your EXACT position 4 years ago. I did the same thing, but through my father not throught the government. I still have the debt from back then and no longer have the bike - not a cool feeling.

Be sure to post pics of it if you do get it, including the number plate, im sure there are a few people on here who would love to dob you in for fraudulently using your student loan

In all honesty though, who cares what other people think? They can only give their advice and opinion. At the end of the day, if it all turns to shit and you moan on here they are just going to be the first to laugh and say 'told you so'.

**hmurphy** · 6th January 2009, 13:30

Originally Posted by matoc

if you're not dead after 5 years of riding one of those babies then you're not riding it properly.

Only need to plan 5 years ahead so all good!

**NinjaNanna** · 6th January 2009, 15:57

Keep your 99 model, max out your Student loan but put it into Kiwisaver - the govt will then let you take the money out to pay for your house deposit.

Now that's a real dastardly plan. (if my mediocore understanding of Kiwisaver is correct)

**Squiggles** · 6th January 2009, 16:24

Meh, you dont actually need the loan, just get off ya arse and work. Since the semester ended (i was broke then) i went and worked my arse off and to show for it i've now got a 2008 DR650. I looked at doing the whole loan thing but its too much trouble and at the end of the day, you're still in the red.

Ontop of all that, come next year, your bike will probably have depreciated 5k (i.e. you'll loose nearly a years worth of student loan money in depreciation alone!)

**mattian** · 6th January 2009, 16:35

Its a great idea ! don't take too much heed of all the nanny naysayers!! If you love bikes then thats what you choose to spend your money on...... some people like to travel, some people like to gamble all their money at the casino! I say if you want it bad enough, you will find a way to make it happen.

**Creeping Death** · 6th January 2009, 16:52

Sell your 99 R6 and with the proceeds,spend it all on lotto tickets,then with your 3 and the bonus winning ticket,use that to finance a new skateboard,backpack and ipod,like all good students.

**bsasuper** · 6th January 2009, 17:19

If ya cant pay half in cash, dont get it, its always worked for me.

**supraman_nz** · 6th January 2009, 18:48

Any chance that your R6 is the one thats parkd up at the bike park at vic uni kelburn across the way from the national bank? If it is I see it almost everyday thru the year

**The Pastor** · 6th January 2009, 19:23

Originally Posted by R6_kid

I'm trying to sell my GSXR1000k3 because im going back to uni.

What is your insurance premium like?
How many km's do you do per week? per month?
When are the services due? How much will they cost?
How hard do you ride? How long do your tyres last?

In 4 weeks I would be debt free with regards to my GSXR. But I still have to pay $150/mth for full insurance - you will have to pay for full insurance too. Good tyres aren't cheap at $550 a set, and if you're anything like me you're going to need a new seat every 7000-10000kms at best.

Also, why do you NEED the 08/09? Would a slightly used 06/07 model not be a better option financially - you'd save yourself $5k right of the bat, and the depretiation will be less compared to spending more on a brand new bike which is gonna lose $2k in value by the time you get the first service.

I'm going back to a $1500 shitter that I can have some fun with - and by the way, 'interest free' doesnt mean you dont have to pay it back -$150/wk adds up pretty quick - and it will gain interest if you ever leave the country for more than 6mths at a time.

I have a mate whos selling an rgv150 for around that price

**Squiggles** · 6th January 2009, 19:27

Originally Posted by Squiggles

Ontop of all that, come next year, your bike will probably have depreciated 5k (i.e. you'll loose nearly a years worth of student loan money in depreciation alone!)

Ill chuck in a caution if you go ahead, make sure you have plenty in reserve as studylink regularly screwup and "forget" to pay you for a few weeks... that could hit hard.

**hmurphy** · 6th January 2009, 20:27

Originally Posted by supraman_nz

Any chance that your R6 is the one thats parkd up at the bike park at vic uni kelburn across the way from the national bank? If it is I see it almost everyday thru the year

Why? You interested in buying it mate?

Yeah that would be me. The blue and white one. Hopefully I will only be on it at uni for my first week back in March. Then it will magically transform into a Red and White 2009 R6!!