kick me now

[FearedGS500]

 can i kick my self now ?  i went to woods fun house ( motorcycle shop that sales all the jap bikes ) 2007 cbr600rr 0 down 173 a month .... and i turned it down .. i feel like an ass right now but theres more to it then just that .. but eather way .. i'v wanted that bike for sooooo long !!!!

[spc]

Sleep on it for a while.   There are always specials like that in the summer

[SmartDrug]

Motorcycle payments are for pussies, pay cash for your toys, no sense paying 23% interest for your fun when your GS makes you happy.

[Alphamazing]

Woods Fun Center.

Also, I don't believe in financing toys. Save up, then buy it outright. It'll save you a ton of money.

[spc]

True.   That's why I haven't bought your daytona.   I pay cash for my shaZam!

[frankieG]

between interest and length of loan it may not be the deal you think it is.  personally if i don't have 1/2 down in cash i don't buy

[makenzie71]

I finance shiht just for the sake of credit...but i also have a wonderful relationship with my loan officer so I get  decent interest rate.  My three year note for my bimmer cost me $800 in interest

[ben2go]

dats not to bad mak but ya could do better.     

[spc]

Yeah, I still have 0% interest for another year on my AmEx and last I check just under 7k in available credit

[ben2go]

The title of this thread is,"kick me know".

All I can say is consider yourself KICKED!

[RVertigo]

no sense paying 23% interest

What about 7%?

[Crucialval]

State employees credit union, 6% auto, 4% home 
But I still pay cash for toys.

[SmartDrug]

What about 7%?

7% isn't a bad rate, especially for a bike, but you'll be hard pressed to find a rate that low, even with exceptional credit.  Many banks and credit unions don't give loans for motorcycles which means that many people use other means to finance, like the "Honda Card", well, the setup for many of these cards is to offer 5-7% interest for one year and then it skyrockets to upwards of 25% for the remainder of the loan.  Honda's setup is a little sweeter, but here's their fine print on the card:

The Honda Card's Standard Program**

Annual Percentage Rate (APR) is fixed at 9.9% 11.90% 16.90% when financing $3000 or more. Rates subject to customer credit review. Minimum monthly payment is the greater of $20 or 2.5% of the original Credit Plan Balance amount financed.

Which means that your 10k financed bike might be the most fun you've ever had on two wheels (with the exception of the reacharound that your cousin gave you at the last family reunion), but in reality it's costing you well over $1,500 EXTRA a year just to finance it, that's just not good policy.  If you need a car and can't buy cash, I understand, but don't buy toys you can't afford.

I don't mean to sound preachy, but I'm a Financial Advisor, this is all I do all day.

[blue05twin]

I'm bad.  I finance stuff all the time BUT only when they offer 0% for a few years and I know I will have it paid off in that time frame.

Current example I just bought a new bed cost me $1900 0% interest for 24 months.  I'll pay $100 a month.  Actually I will have it paid off in 18 months. 

[ohgood]

What about 7%?

7% isn't a bad rate, especially for a bike, but you'll be hard pressed to find a rate that low, even with exceptional credit.  Many banks and credit unions don't give loans for motorcycles which means that many people use other means to finance, like the "Honda Card", well, the setup for many of these cards is to offer 5-7% interest for one year and then it skyrockets to upwards of 25% for the remainder of the loan.  Honda's setup is a little sweeter, but here's their fine print on the card:

The Honda Card's Standard Program**

Annual Percentage Rate (APR) is fixed at 9.9% 11.90% 16.90% when financing $3000 or more. Rates subject to customer credit review. Minimum monthly payment is the greater of $20 or 2.5% of the original Credit Plan Balance amount financed.

Which means that your 10k financed bike might be the most fun you've ever had on two wheels (with the exception of the reacharound that your cousin gave you at the last family reunion), but in reality it's costing you well over $1,500 EXTRA a year just to finance it, that's just not good policy.  If you need a car and can't buy cash, I understand, but don't buy toys you can't afford.

I don't mean to sound preachy, but I'm a Financial Advisor, this is all I do all day.

Preach on! I quit financing a while ago (years) and since cleaned every debt. I manage to save about $12,000 a year on a machinist' salary. Creditors HATE me. I don't spend anything but cash, and that's after the item in question has passed the cheapness meter.

Please convey some knowledge of saving and investing vs borrowing for a freaking cage that loses value at double the rate you're paying on the loan, etc.

Why can't people see it ?

Sorry to hijack. Think I needed a rant.

[FearedGS500]

think i'm gonna go back down there wed. and pick it up i'v  had some sleep and what not .. i'v decided .. i want it .

[liquidicem]

I'm a big believer in cash or at least 0% finance for toys.  Hell, I bought my new Silverado on 0% 2 years ago.  That was a hell of a deal.

[bettingpython]

think i'm gonna go back down there wed. and pick it up i'v  had some sleep and what not .. i'v decided .. i want it .

Uhmm is the motorcycle dealership open on the Holiday?

[FearedGS500]

well .. its going to be thur. i called the dealer ( and the lady i normaly deal with ) and she told me to come in thur.  she said they could be what austin had so this might turn out to be better then i thought

[spc]

I went by Atlanta Triumph Ducati today and drooled on a 1098s tricolore   I could have left with it for 350 a month    I can't imagine the insurance though Probably be at least another 350 a month
I might buy a monster from them later in the year.  They had an S2R there for 9500   Then I went and drooled all over the 910r brutale   Damn thing actually feels rather comfortable