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Discussion Starter #1
Well,

I wish I'd bought my bike BEFORE my car. I'm making payments on both right now, because like a fool I bought a new car in 2005, then bought my Bonnie 2 years later and am making payments on that. If I had it to do over I would have bought my Bonnie and then bought some cheap, rusted out, econo-box to commute when the weather is crappy.

So... with the economy the way it is, I'm looking to cut costs around this place and I'm seriously thinking about dumping my upscale (LOL) Volvo S40, so I can more easily justify keeping the Bonnie. Funny thing is, if I were to talk to a financial planner, I know the first thing out of his mouth would be... "son, you've got to sell that bike, what the hell are you thinking, that's a luxury item you can't afford". But, I'm thinking the other way 'round. Who the hell needs a car when they've got such a nice bike to ride? Besides, I'm not letting the Bonnie go until they pry it from my death grip. (some things in life defy logic)

So my question is... has anyone jettisoned a car in favor of a bike?

Guess I'll go for a ride and think it over some more....
 

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I haven't been in that position, but if it came to it I would jettison my car for a lower level item in order to keep my bike. Just my way.
 

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Got any equity in the car? Sell it and buy a beater to get around. You can buy an ugly beat up but reliable car for what a payment or two for the Volvo would be.
Now is not the time for payments and loans.
 

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Im thinking the car has a bigger payment then the bike.Get rid of the car, Volvo's are easy to sell. Get an old cheep car that you can work on, like a Bug (you can rebuild that engine in a weekend).
 

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I would not dump the car and get a POS, find something that's relaible. There should be plenty that fits that bill that's not too expensive.

You know - this thread is quite fun. I'm going to shift it to Bikers Hang Out so everyone can play - it's a fairly general topic.
 

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Anything that you need to use as everyday transport, but have to fix every weekend, is a POS, I don't care what brand / style it is.
 

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In my opinion you should sell both the bike and the car and pay cash for a beater car and a decent, fun bike. You can get either in the $2k -$3k range. Then save your money up for something you really want.
 

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So my question is... has anyone jettisoned a car in favor of a bike?

Guess I'll go for a ride and think it over some more....

Yes!

In my younger years I got into the same predicament. I had payments to make on both a car and my beloved Honda Magna V-30 and I had the same choice to make as you. It took me less than 24 hours to get rid of the car and rode the bike year 'round.

Even now. The transmission on my 1988 Lincoln just took a crapper and I've been without a car for nearly 2 months. The transmission shop just called with an estimate, etc and I told him to take his time that I am in no hurry to get it back.
 

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You may actually have a hard time selling anything right now but I agree you should ditch the Volvo and keep the Bonnie.
 

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First thing is I am not sure that i would go into debt for anything that would be considered a extra item such as the bike. But that is not my call, I am not you and you have to be able to live.

In saying that I would sell the expensive car while you can still get some decent money out of it and buy a nice older car. Heck if you are only going to use it for bad weather then go buy a nice little Ford Focus or some small car that still looks ok, is fuel efficient and wont cost you a fortune to fuel, insure or drive.

Then you still have the bike and can a decent little car.
 

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A very interesting thread indeed.

I've always treated bikes as a secondary vehicle, hailing from Michigan and all. I suppose here a bike could easily be viewed as sole transport.

I'm far from well-to-do, but bikes have always been cash and carry for me, and typically this involves horse trading. I completely refurbished an old airhead BMW I bought on the cheap, rode it for a while, sold it, and eventually bought the Duc. I decided I wanted another bike, so the '05 Bandit 1200 had to go, which cleared the way for the Bonnie.

I've never minded making payments on a car, because I work on behalf of a carmaker, and we get really good deals on new. That, and I put a whopping 2000 miles a year on it, so after a year or two, I'm already on the right side of the equity thing. I drive the thing to work maybe 2-3 times a month, and to get groceries, etc.

All that being said, I cannot imagine not having a bike. Or bikes. :D
 

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The first several posts are spot on. I actually work in collections and sometimes have to offer informal financial counseling. Yes, logic would say to get rid of the bike, but when you weigh costs of ownership, your monthly payments are much higher with a car versus a bike. Ideally you may want to downgrade to a less expensive & reliable car and reduce your payments. If you can make that work, that is the best scenario to be in and you lose nothing.

If its impossible to downgrade your car and payments and you have to let go of one or the other, you also have to ask yourself do you ride or drive more. If you drive more, then you may have to get rid of the bike. For me, I barely drive my car because work is far from my house and Im reaping the benefits of saving money on gas using a bike versus a car. Plus I utilize a backpack when riding to really find an excuse not to drive. Having to sacrifice one or the other is a position you don't want to be in because if it breaks down, you are screwed and will have to cough up a lot of money for a rental car.

If you really can't decide, leave your fate to someone/something else. Flip a coin
 

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Discussion Starter #16
Bonnie's a keeper

Some good advice here.

Kurt V - I like your idea of going to cash, but it's too late on my bike. There is no way I'm getting rid of it. If I did, my wife would probably never let me get another one. Besides, this is my first real bike and I think I made a great decision. I plan on keeping this bike at least 10 years, if not 20. I see this as a family heirloom. So, while I'd like to be able to keep both, I might have to put the car up for sale. I think I'd net about $2,000 or so after I paid it off and that would give me $1,000 for savings and the other $1,000 to blow on accessories for the existing Bonnie.

Let's see.... Jacket - $300, new gloves - $60, 12K Service - $300???, Tail bag - $80, new pipes $400... whoops I might be over $1K, but not by much.
 

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tomster

I've had to do something similar this year. No contest - keep the Bonnie.

i think the the original wording was somewhat different, but I think this saying still applies -

A decent bike will get you thru' times of no money, but money won't get you thru' times of no bike...

:D
 

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You live in Annapolis, lovely town but almost worthless public transit, and very little of it connecting to Baltimore and Washington (hard to believe, but true). How are you going to get to work when the weather sucks or you just don't want to deal with the cold and/or the rain?
 

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What a funny coincidence this topic is.

I just lost my car to an accident a few weeks ago so im just rocking the thrux right now. i dont really have plans to get a car right away either since im still making payments on the bike. this way i can pay off the bike with the insurance money and save a butt load since im not paying for either and ill be able to cancel my car insurance. this way i can save and get the car i want as opposed to just settling for something else...
 

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I use a bike all year and the weather here in the UK is pretty bad at times, I know we dont get weather like you guys in the USA do, but I have ridden to work in winter in minus double figure temps more than once, the trick is to sell the car and spend a couple of hundred on a real heap O ****, use that when the weather is bad and keep the bonnie when the weather is better, also fit your *** with heated grips and get some good boots and clothing, there is no excuse to be cold and wet these days, life is livable without a car.
 
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