Grand Prix 250
Join Date: Mar 2016
Location: Central Valley, CA
New bike cost vs Personal finance
Rough theoretical question -- someone buying a $15K toy (bike, atv, jetski, whatever), what kind of net income / cash savings should they have? Or is it all about total debt-to-income ratio? I don't have any debt, and my older humble house is paid off, both cars paid off (lots of life left, 65K and 75K miles), current bike paid off, and I wouldn't have any issue throwing down for a loaded Honda CR-V for daily usage, but then I am very hesitant to buy a brand new bike that costs north of $10K. I've been riding cheap-as-possible bikes so far. Statistically, probably the "smartest" thing is sticking to used bikes, but you can't have the latest greatest that way. And the bike is a weekend enjoyment thing, so it's of limited usage, but then when I get the time to ride, I want to enjoy it as much as I can. But you got to do something with your time and money. I'm not looking to justify the money outlay, but how others approach whether $15K toy is totally insane given various money factors, or when it's like, whatever, you've got enough, buy it enjoy it. These purchases aren't the wisest or rational, but surely there's some sort of general consensus of the afflicted hobbyists where toys are being overbought -or- underbought?