New bike cost vs Personal finance - Page 3 - Triumph Forum: Triumph Rat Motorcycle Forums
Biker Hang-Out The Biker Cafe' at the end of the Universe. C'mon in, we talk everything about motorcycles on Earth and beyond.


Sponsored by: Motorcycle Accessory Discount Superstore

 8Likes
Reply
 
LinkBack Thread Tools Display Modes
post #21 of 28 (permalink) Old 04-20-2017, 11:01 PM
Member
Grand Prix 250
Main Motorcycle: 2007 Blk&Red Triumph T100
 
Join Date: May 2016
Location: Milwaukee, WI, USA
Posts: 64
Other Motorcycle: '86 Red 883 Evo Sportster
Extra Motorcycle: '81 Red GS450E Suzuki
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!
Ntnbutrbl is offline  
Sponsored Links
Advertisement
 
post #22 of 28 (permalink) Old 04-21-2017, 10:20 AM
New Member
Production 125
Main Motorcycle: 2006 Triumph Scrambler
 
Join Date: Jan 2016
Location: Denver, CO
Posts: 6
Other Motorcycle: 2013 Triumph Street Tripl
Extra Motorcycle: 1963 BMW R60 /2
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.
bwagner5150 is offline  
post #23 of 28 (permalink) Old 04-21-2017, 10:30 AM
Senior Member
SuperSport
Main Motorcycle: 02 Triumph Sprint ST
 
Gabriel Syme's Avatar
 
Join Date: Apr 2016
Location: Forest Acres, S.C.
Posts: 1,181
Other Motorcycle: 05 Ducati Monster 800
Extra Motorcycle: 04 Yamaha FZ6
Garage
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
Gabriel Syme is online now  
 
post #24 of 28 (permalink) Old 04-21-2017, 01:53 PM
New Member
Production 125
Main Motorcycle: 2006 Triumph Scrambler
 
Join Date: Jan 2016
Location: Denver, CO
Posts: 6
Other Motorcycle: 2013 Triumph Street Tripl
Extra Motorcycle: 1963 BMW R60 /2
Quote:
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.
bwagner5150 is offline  
post #25 of 28 (permalink) Old 04-21-2017, 05:19 PM
Member
Grand Prix 250
Main Motorcycle: 2001 Sprint RS 955
 
linkmodo's Avatar
 
Join Date: Oct 2016
Location: Miami, FL
Posts: 49
Other Motorcycle: 2004 V-Star 650 (sold)
Extra Motorcycle: 1998 Majesty 250 (sold)
Garage
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.

2001 Sprint RS
linkmodo is offline  
post #26 of 28 (permalink) Old 04-21-2017, 06:08 PM
Member
Supersport 400
Main Motorcycle: Street Twin
 
Join Date: Aug 2016
Posts: 95
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? :-)
xorbe likes this.
Featherock is offline  
post #27 of 28 (permalink) Old 04-21-2017, 06:35 PM
Senior Member
Formula Extreme
Main Motorcycle: 2015 Thunderbird Storm
 
Chazzmichaels's Avatar
 
Join Date: May 2015
Location: King, NC, USA
Posts: 701
Other Motorcycle: 2008 Thruxton
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.

Last edited by Chazzmichaels; 04-22-2017 at 08:20 AM.
Chazzmichaels is online now  
post #28 of 28 (permalink) Old 04-21-2017, 07:29 PM Thread Starter
Member
Grand Prix 250
 
xorbe's Avatar
 
Join Date: Mar 2016
Location: Central Valley, CA
Posts: 46
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.
xorbe is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options
All posts must adhere to Forum Rules

Register Now



In order to be able to post messages on the Triumph Forum: Triumph Rat Motorcycle Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter your valid email address, that can receive an automated confirmation message. Otherwise, you won't be able to gain full access.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Similar Threads
Thread Thread Starter Forum Replies Last Post
12,000 mile service: what did it cost you? vito Thunderbird Cruiser Chat 12 10-11-2015 11:22 AM
Shop turnaround time and cost? ryan.enn Cruisers - America, Speedmaster 13 09-01-2015 08:45 AM
Rocket turned streetfighter cost? mattmillme The Rocket Science Forum 12 08-21-2015 07:53 PM
Cost of Service for: 36,000 according to Manual cancarl Air Cooled Twins Technical Talk 10 02-18-2015 12:20 PM
What would this cost? cb200t Air Cooled Twins Technical Talk 1 02-10-2015 11:13 PM

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome