How do you buy your bike?

[EJK]

Just curious. How do you guys pay for your bike?

[McJim]

I would hate to owe money on a depreciating asset - imagine owing $25,000 plus interest on a bike that's only worth $20,000 a year later.

I may only have a 1998 Ducati and a 2003 Falcon but at least they're mine and no repo man can take them away from me.

[discotex]

Cash FTW.

I'd use finance as a last resort but no more than half the value of the bike.

Bikes suck enough money on rego/insurance/tyres/servicing/trackdays/etc that you don't want to be paying big weekly repayments on something that is losing it's value quickly.

The general rule is don't buy depreciating crap (a car or bike is not a true asset) with credit. Only use credit to buy stuff that makes you more money than the interest.

[Usarka]

A lot of the old coots are predicting gen-y'ers are going to be learning some hard lessons in the next year or so.......

Cashola, unless it's on the mortgage.

If you have a mortgage and shitloads of cash then wtf......?

[Drunken Monkey]

Folding only.

Never finance toys.

[discotex]

If you have a mortgage and shitloads of cash then wtf......?

Given the mortgage rates are dropping fast it won't be too hard to find an investment that pays more after tax. In that case it's better to keep your cash in other places.

In other words always have the money in the place that's making you the most income (or costing you the least).

For example there's no point paying off the mortgage like crazy if you have 30k in credit card debt.

[Bonez]

Cash. The cheaper the better. Buy a bike at the bottem of the depreciating scale. Lots of goodies out there.

[doc]

Given the mortgage rates are dropping fast it won't be too hard to find an investment that pays more after tax. In that case it's better to keep your cash in other places.

In other words always have the money in the place that's making you the most income (or costing you the least).

For example there's no point paying off the mortgage like crazy if you have 30k in credit card debt.

These are times to get back to the basics, as I'm an oldfart, I'd get rid of debt in these times.

Fark sake having 30k in credit card debt , isn't this part of the reason we have this problem ?

Your biggest asset is your ability to earn.

[WolfCollared]

[MadDuck]

Just curious. How do you guys pay for your bike?

I stole mine

[Trudes]

I stole mine

hahahhaa hhahaha

[samgab]

I think I would use finance if it was on interest free for 12 Month terms. For instance Suzuki is doing 12 Months interest free on their GSX650F ATM. So when it comes time to upgrade to a bigger bike, if someone is doing a deal like that I'd consider financing, and paying it off within the interest free period, but other than that: Cash.

And how long before you get another bike EJK?

[AllanB]

I would hate to owe money on a depreciating asset .

Funny times these.

A chap at work purchased a brand spanking new CB1300 (naked one) almost 2 years ago for a special price of $12500.

Pre Xmas my local Honda dealer had a nice blue CB1300, identical to the one mentioned above apart from gold wheels instead of black, for $14500.
3 weeks ago the same bike was up to $16,000. Yesterday while walking the bike shops at lunch time I spy the same bike for $19,000.

At that rate his 2 year old low km immaculate CB1300 is quite possibly worth what he paid for it as a trade-in!!!!!!!!!!!

Three weeks ago the new CB1000 Predator was in there for $19,000 yesterday they were $22,000.

Personally I am now in a position where if I have the misfortune to write -off my CB919 Hornet, I could not afford to replace it with a new bike.

[madmal64]

Mr C Ash paid for mine. Therefore it is mine and and mine alone.
Its one of my toys and these sort of things are not supposed to be a burden on the family & personal finances.
Short version... Cant afford it .... dont get it

[discotex]

These are times to get back to the basics, as I'm an oldfart, I'd get rid of debt in these times.

Fark sake having 30k in credit card debt , isn't this part of the reason we have this problem ?

Your biggest asset is your ability to earn.

It's always a good time to clear personal debt. I don't have $30k in credit card debt by the way it was just an example. I pay my balance every month.

Personally I'd rather not rely on my ability to earn and am working to replace my income with non-employee means as soon as possible. Ideally within 10 years. Only wish I'd started 10 years ago.