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post #21 of 101 (permalink) Old 04-20-2017, 11:01 PM
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Think of what you might get with one month's pay. If that does not work then try 1-1/2 months pay. I once bought a new bike that cost three month's worth of my pay but I could do that because my wife was working so she blunted the financial impact. She liked a ride with me so she was ok with it. I did three month's pay because I was completely fed up with an old bike that frequently needed work; wanted to ride and not repair a broken bike.

Add this to your thinking: You live only once so do it right the first time!
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post #22 of 101 (permalink) Old 04-21-2017, 10:20 AM
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This is a great topic, and always interesting to see everyone's opinions. Like several have commented, I too can afford to pay cash for a new bike (and have too often), but over time have usually found more pleasure in a used bike. Fixing bikes up and going through them has become just as enjoyable for me as riding...and it helps me "bond" or connect with it. Not to mention that once I inevitably get bored with the bike and sell, I've certainly lost my shirt on most that I bought new

I'm not personally a big fan of loans for toys like motorcycles. I think the stress of it it would outweigh the fun for me, especially if you were upside-down.
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post #23 of 101 (permalink) Old 04-21-2017, 10:30 AM
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Quote:
Originally Posted by bwagner5150 View Post
I'm not personally a big fan of loans for toys like motorcycles. I think the stress of it it would outweigh the fun for me, especially if you were upside-down.
This can be true. It all depends on how much debt you are carrying. If your home is paid for and no kids to support, a new motorcycle loan would not be a stressful debt. I normally like to spend other people's money, rather than spend my cash.

"Accelerate until you see God, then BRAKE!" -Kevin Schwantz
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post #24 of 101 (permalink) Old 04-21-2017, 01:53 PM
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Originally Posted by Gabriel Syme View Post
This can be true. It all depends on how much debt you are carrying. If your home is paid for and no kids to support, a new motorcycle loan would not be a stressful debt. I normally like to spend other people's money, rather than spend my cash.
Agreed. If the loan were a choice for cashflow or a free/low interest rate, it may be a good direction to go. Just not the wisest decision IMO if you couldn't afford to pay cash for the toy otherwise.
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post #25 of 101 (permalink) Old 04-21-2017, 05:19 PM
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Newest & Greatest will become old & used the next day it rolls out of the dealership floor. And that bloody depreciation curve is gonna kick in as soon as someone sign that sales paper.

Bikes depreciate quicker than a blink of an eye. Personally, I think if you really want to justify getting something "Newer" as opposed to 10+ year old bikes, finding a bike that's only 2-3 years old and well taken care of for well under 10k on Craigslist is not a hard task. Many motorcycle engine designs don't change for quite a long time, only body style & decals...

Banks/credit unions do motorcycle loans for private party purchases too, which usually offers lower interest rates for pre-owned bikes than most dealerships, if you want to finance the toy.

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post #26 of 101 (permalink) Old 04-21-2017, 06:08 PM
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To me a bike has never been a practical purchase. It's for fun and re-capturing good ol' days of my ill-spent youth. I love brand new stuff... my current Street Twin was bought new, Aprilia Tuono before that was new and Triumph Tiger 1050 before that was also new. I tend to waste money and frankly, I can't afford it. But I do it anyway and have no regrets. Sometimes impulsivity is the way to go! The way I see it: I don't drink, i don't smoke, I don't have cable TV and I don't really spend money on anything else you'd call frivolous. Home and vehicles are all paid for... so I buy new bikes! Logical? No! But so what? :-)
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post #27 of 101 (permalink) Old 04-21-2017, 06:35 PM
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I'm in the minority but I like new bikes. They are blank slates that no one else has put their grubby little paws all over! I'm not a skilled wrencher so they have a warranty if any problems. But when I buy new, I look for old new stock and I buy and hold. The bikes I've bought used, I really liked, but I knew I would sell each eventually.
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Last edited by Chazzmichaels; 04-22-2017 at 08:20 AM.
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post #28 of 101 (permalink) Old 04-21-2017, 07:29 PM Thread Starter
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Thanks for all the various replies. I must be McScrooge mentally. I think I will queue up for the Triumph purchase this Fall/Winter locally (I'm in no rush), and then presently, I will donate $2500 to help my much younger brother and his fiancée acquire a very well cared for used Civic from another friend that just upgraded to the latest model.
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post #29 of 101 (permalink) Old 04-26-2017, 10:29 AM
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I can't understand that way of thinking. I'm just not wired that way. I would rather not have something than to have something I didn't want.

No one "needs" a motorcycle or other toy. These are emotional things to me...purchased entirely for pleasure. I get what makes me happy (within my means). Period. Even if it's a loan and the interest is high. If I can get a good deal on what I want, even if it's used...even better...but I still will not compromise on what makes me happy (My Jeep falls into this last category). I bought my Speed as a two year old bike ('12), sitting on the showroom floor in '14. I was a little flush then and paid cash. It was a very good deal. I don't care about depreciation because I'll never sell it and I ride the snot out of it (48,000 miles and counting so far).

I have to smile every time I step into the garage and see my bike. Otherwise, what's the point?

I recognize that we're all different. If you step into the garage and smile because you're happy some cost/benefit ratio was met...so be it. But, like I said, I'm not wired that way.
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Last edited by Flyfisher; 04-26-2017 at 10:36 AM.
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post #30 of 101 (permalink) Old 04-26-2017, 11:03 AM
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Originally Posted by xorbe View Post
Thanks for all the various replies. I must be McScrooge mentally.
It's all horses for courses with saving money, some people have more money than sense & other people (like you & me) are "careful" with their money & can find better things to spend it on than a dealers' profit & high taxes!!!

I, like you, waited until l saw the right bike advertised then negotiated a trade in price over the phone for my 2012 Versys after sending the dealership multiple photos of it as it looked on that day then rode the 170mls from Branson MO to Searcy AR & did the deal!
So, basically l got a 3yr old bike with only 3200mls on the clock & $3k worth of extras fitted for $7500 when a new bike off the showroom floor with these extras would've cost over $17k!!!......$10k in my pocket for other things!
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