well, as you all know, i've been trying to buy a bike. found out from the local dealership today that if i want to buy a bike, i need to get a cosigner. i thought, well, i'll ask the wife, see if she has any ideas. apparently, her family is divided on the issue. half of them feel i should not get a bike because i have 2 young daughters,(ages 4 and almost 2) and my wife is pregnant with a 3rd child. they argue the whole, safety thing. you'll get yourself killed yada, yada, yada. i'm sure you all have heard the speech from somewhere from someone. now, my wife on the other hand, doesn't mind me getting a bike. the other half of her family probably doesn't mind either but if i ask one of them to cosign it is sure to strike up a huge family fight. so, i would like some opinions and maybe some tactics on how i can best approach this situation and still keep peace in the family. i'm sure there are some of you that have been in my position.
Get a mate to pose as family :thumb:
1) tell the fam-unit nothing.
2) save two paychecks and buy used from craigslist.
3) get some life/health insurance.
4) play with the kids.
Y3
I have a young son and got my license last year at the age of 37. I bought my first bike an 07' GS500F in October (leftover).
Alot in my family didnt want me to get a bike either but once in a while a man has to be a man and say "BUT I REALLY WANT IT! AND AND THAT MAN HAS ONE!"
Muhahaha
I riding to Ontario this Friday and Im getting the same backlash again. Especially from my Mother. I just tell her that its her job to worry and mine to make it so. I want to ride so ride I will. :2guns:
The first words out of my mothers mouth when I came out of surgery to put my thumb back together. "Are youo gonna quit this stupid motorcycle thing now??" I said " f%$k no, Nurse can I have something for the pain?"
Anywau long discussion:
Eventually she concedes that if you back away from things the first time something goes mildly wrong ( and yes I consider this mild ) you never actually have fun or accomplish anything :thumb:
Life is short, enjoy, tommorow @$$hole Iraqi's could be shooting at you :icon_rolleyes: ( that was another part of my argument, a bullet woulda done a hell of a lot more damage)
definitely don't buy a new bike, don't finance it, save up for a wee bit and buy a older bike privately,
the last thing you want is a family member... especially from the wifes family, having something over you.
be aware you will crash at some point, its not something to scare you... its a fact.
but hell its better than getting stuck in traffic every day on the way to work
good luck with the bike search :thumb:
You should buy the extra insurance anyway, I am. Dont want to leave my boy broke if i ride into eternity.
But I agree with these guys. I respect your familys attitude toward riding, we all have fallen friends, but dont we have fallen cage driver friends too.
I went thru the same talks, wound up being overly cautious, didnt react quick enuff, flipped the bike. I didnt wak for 3 days, couldnt even sit on a bike for around a year cause my back hurt so bad. So I bought junkers nd rebuilt what I could, did oil changes and etc. But I still had the bug. I listened to everyone around me for 2 years about not riding, I was miserible. My wife finally sat me down and told me it was ok if I wanted to ride. So now I own a 06 and 07 500F. And she let me start negotiations on a Busa.
Family, minus my boy, not too happy. But like I tell them, what I do is between me and GOD.
Get your bike, be safe, buy it used to start, then when the crap dies down, get the new shiny one. :thumb:
First, I had a similar fight minus the whole cosigning thing. And agreed as per above, don't buy a new bike as your first bike. I just bought a 17 year old bike and I'm glad I did because it rides great and I paid 1500 for it. I pay a whopping 10.67 per month for insurance and its a piece of cake to take care of that. Just buy used, take it home, push it on its side once to get it over with, and ride it carefully after that! :cheers:
get the wife a 1,00,000$ insurnace on your death... and get a bike... what I did, she said.. humm Okay... go ride. :)
Sign up for a motorcycle safety course, this will show them that you are serious about your safety.
Tell both families that you have done so, are interested in safety and that this course will give you better skills to ensure this.
Buy a helmet, this will show them that you are serious about your safety and buying a motorcycle.
Buy used.
I don't think the cosigner has to be a family member. not sure about that but if you've got a friend with good credit I bet they could sign if they were so inclined.
just from my first experience with buying a motorcycle, I found that paying cash on craigslist was a very good thing. worth the relatively short wait. (although it didn't feel short while I was saving up). then I did have to do some work on it but I did it myself so it was cheaper. The only thing I wouldn't do on the cheap in the process of getting ready to ride was the msf (wish it didn't cost so much though, it was a lot of $'s) and the helmet. the first time I go down I know I'll be loving that piece of equipment.
just my 2cents
good luck man!
This has to be one of the best opinion threads I've read. I'll post the quotes I _really_ like directly after this one. Kudos to the positive encouragement, and not flaming the guy.
I particularly like Wrecent_Wryder's comment, and think I'll search teh forum for more of his take on things. I'm assuming he's my elder, and definetly wiser.
Anywho, nice thread. I'll bookmark it for snapback.
:cheers: and a :thumb:
Quote from: bombadillo on June 09, 2007, 07:36:24 AM
First, I had a similar fight minus the whole cosigning thing. And agreed as per above, don't buy a new bike as your first bike. I just bought a 17 year old bike and I'm glad I did because it rides great and I paid 1500 for it. I pay a whopping 10.67 per month for insurance and its a piece of cake to take care of that. Just buy used, take it home, push it on its side once to get it over with, and ride it carefully after that! :cheers:
That my friend is an EXCELLENT suggestion. The wife was impressed with your thrift and humor (push it over) as I was.
Great recommendation!
I think the confusion here is because he wants a motorcycle. Any dad with a daughter can explain the REAL issue. This may be harsh, but welcome to adulthood.
Succinctly: You've got 2 7/9 kids and not enough credit for a $5k <insert ANY toy name here>, you've got a family to support with kids that will get more expensive and need clothes and tuition and medical care and etc that you can't possibly even almost afford with that credit history, and you want me to co-sign for a <insert ANY toy here>?
Any dad who loves his daughter would, and probably should, slap you about 600 times just for asking the question. The dependents come first, the breadwinner comes last. If the request were for a stereo or a guitar my answer would be the same. The motorcycleness of it all is a red herring. Once the family is secure you can buy all the toys you can afford to pay cash for, but not when baby needs new shoes.
Jeffrey
Full disclosure - Has a daughter marrying in August to a guy who CAN get a loan, and he's planning to buy a house BEFORE he upgrades his car. See the difference?
a sobering voice of reason.
Quote from: dchrist on June 09, 2007, 04:12:20 PM
a sobering voice of reason.
Wow. Thank whatever powers that be that I'm only 54, and too young to have to behave like an adult.
Disclaimer: I take my responsibilities VERY seriously. That's why I take on so very few of them....
well, when I read what TheUnHun had to say I realized he had a good point. the motorcycle really is a red herring here. even if someone can afford to spend the cash for a new toy perhaps its not the best idea with a young and growing family. and if you have to finance it then I think it really needs some thought....
I don't have any dependents though so its really not my place to say anything. I don't want to offend anyone or speak about life to somebody who doesn't know me at all, you know?
I'm sure its not what our friend wanted to hear but I've started to think it would be a pretty good compromise to spend 1500 or 2k on a used gs to learn on and to upgrade in a few years when the financial situation might be different. thats what I had to do. I really wanted a brand new bike when I started in this hobby last year but when I realized $5-7k was out of my reach I settled on a used gs and have had a very positive experience so far. its jut MHO and sharing of my limited experience. please take it for what its worth.
d
thanks for the opinions. let me clarify something. my desire for a bike is not a desire for an expensive "toy'. for me this bike will not be for my pleasure although i will enjoy riding it. gas is outrageous. i want cheaper transportation back and forth to work. the money i will save in gas will pay for the bike almost and leave me more free money to spend on my kids. don't mistake me for a young dumb fool. i am not. i work hard to support my family. my wife and kids have all their needs met. always have. always will. this is not about me being selfish and just wanting something new. also, take this to thought. if i get a bike financed, well now, i'm certain that positive payments for a financed motorcycle would improve my credit. so far the only problem being getting the financing. i'm doing what i can to support my family and trying to make sure they have what they need. improving my credit not only helps me but helps them as well. you all may find my reasoning a bit off but oh well. you are entitled to your opinions. i appreciate them. keep em coming. :cheers: oh, and i have taken a motorcycle safety course. i have a helment, full faced. i've got a decent leather jacket. i'm not foolish. i've done my research. this isn't a spur of the moment thing for me. i was going to buy a bike with this years tax money but used the money to pay off bills instead.
So noted, and well stated. You sound like a reasonable guy.
Jeffrey
Hey jserio... Not sure if I mentioned this before....
Buy USED
:laugh: :thumb:
If you couldn't get financing on a new bike you must have really really really screwed something up not all that long ago and, giving that, I wouldn't blame your family for not wanting it get tied up in it.
I have crap ass credit...my scores probably in the 500's...and i can have a dozen banks lined up trying to give me credit for a new bike or car. hell I don't have that big a problem getting financing options for used stuff.
i, too, suggest not financing a toy, though. You can buy a good bike for $1000. Won't hurt you to save for a couple months to drop it all...but what I would suggest is building up $1000~1500 and going to the bank. Open a savings account and stick that money in there. Then hit up the loan officer and tell them you want a secured, personal loan (secured against your savings account). If it's something like $1000 I usually get a 10% rate and draw it out over 12 months.
Basically getting 10% for 12 months on a $1000 loan = Pay $55 for an excellent hit on your credit
I hate to sound like everyone else, but on a few occasions I've taken their advice and appreciated it. It's awesome that you want to get into riding and that you're looking at a GS (which is much less likely to get you killed), just remember a couple things.
1. Full gear- you sound responsible, just remember that if you wear your helmet and jacket you probably won't miss any work if you crash. This is probably important to you.
2. Buy used- it won't look as spiffy, and you can't show it off as much. The upside, however, is that you won't lose much value if you fall or drop it (which almost everyone does). I bought my 1996 last year for $1200, and despite a crash, after I repaired it I should get just as much back. If you don't drop it you probably won't lose any money on your investment, and if you do you'll lose a lot less. I was pretty sure I wouldn't drop mine since I usually do very well on standardized tests and I had done a lot of research, but I still dropped it twice before I crashed. I haven't had any problems since I learned from those accidents, but this is something entirely new, so take your time and be careful.
3. Don't listen too much to the people here (myself included). Have fun with it, and just remember how important you are to some people.
This thread gets better every time I check it.
Financing a motorcycle is a bad idea, agreed. Is financing blah to gain a better credit score OK in your opinion ? I won't buy anything I can't pay ca$h for, aside a home.
Just wondering, since there is a plus side to having a better credit score. I'm NOT advocating abusing credit, or using it stupidly, to clarify. I actually can't stand it when people 'just want to know the payments' on a given item.
If they were given the option of SAVING up to an amount (say $10,000) with the same interest as a car loan (10-20%) , and then BUYING OUTRIGHT that car they really 'had' to have, would they do it ?
I don't think so. People are generally greedy and only satisfied with 'have it now, pay later'.
I'm not knocking you mate, just hi-jackin your thread a little. You took constructive criticism quite well, and obviousely care about your family. Rock on!
Wow. These guys are coming down hard on you, jserio. I'm sure it's because they have seen a lot of bad things happen to people in your situation and don't want you to go down that path. Still, just to even things out I thought I'd add my two cents. For the record, I don't have a bike yet but next year (God willing) I'll be out there with the rest of you. The reason I don't have a bike yet is because we're saving up to get married and can't really afford it right now.
As much as I hate to admit it, though, I think waiting until next year is for the best (and could be for you, too). If you pay down your debt this year then not only will you have room to fit a bike into your budget, you also get a better credit score to take to the finance officer (possibly eliminating the need for a cosigner). That's our plan but I don't know your specific situation so I can't say if that's a viable option for you. Also, you'll have next year's tax money as an option. If nothing else, you'll still have less debt to worry about.
If you can choke down that feeling you get when you see people on bikes zipping past you on the highway, it can really pay off. Not to mention the fact that it'll give you time to let your family warm up to the idea of you getting a bike. All the mothers I know are against me getting a bike but that's what they do: worry.
Anyway, I didn't mean for this one to be so long because all I really wanted to say was good luck with getting a bike and consider waiting until next year.
BUY USED! :)
I agree with above, I didnt have the credit either to Buy new(not enough being only 21, only had a credit card and student loan, so no enough according to Suzuki) But Was able to talk to my local bank and got a loan for the amount of my bike less 10 percent and 10.49% APR for 4 years. Decent 40 bucks a month, But then I started saving soon after 100 a month, as well as paying double every month on the bike, I only have 8 double payments left and it will be payed off( I just bought the bike in feb, Just payed 700 on it this week, so that was a good chunk) I could have probably bought it outright but I was also looking for the boost in credit, if you do it right and try to pay it off right away or at least monthly its fine. My goal is to be able to graduate next year and buy a house because 1. i hate renting, and 2. I need a bloddy big garage for all my stupid projects.
Good luck but seriously buy used, i payed 1800 for my bike and it kicks ass!
EDIT: I didnt have a cosigner either through the bank, I would have needed one with suzuki, they seem pretty strict.
double post
1) what TheUnHun said
2) if that doesn't sway you, BUY USED!!! :thumb:
.5 million Life policy. The funny thing is she is an agent also so she wrote it and gets comission and if I die she gets payed. I ride extremly save and only in good conditions. I have four kids that didn't want me to ride and you could tell. I don't think the money would matter to them but they know it's there. I've been riding my own bike for two years know their getting better about it.
I think we chased him off... :cry:
Quote from: jserio on June 10, 2007, 11:19:24 AM
thanks for the opinions. let me clarify something. my desire for a bike is not a desire for an expensive "toy'. for me this bike will not be for my pleasure although i will enjoy riding it. gas is outrageous. i want cheaper transportation back and forth to work. the money i will save in gas will pay for the bike almost and leave me more free money to spend on my kids. don't mistake me for a young dumb fool. i am not. i work hard to support my family. my wife and kids have all their needs met. always have. always will. this is not about me being selfish and just wanting something new. also, take this to thought. if i get a bike financed, well now, i'm certain that positive payments for a financed motorcycle would improve my credit. so far the only problem being getting the financing. i'm doing what i can to support my family and trying to make sure they have what they need. improving my credit not only helps me but helps them as well. you all may find my reasoning a bit off but oh well. you are entitled to your opinions. i appreciate them. keep em coming. :cheers: oh, and i have taken a motorcycle safety course. i have a helment, full faced. i've got a decent leather jacket. i'm not foolish. i've done my research. this isn't a spur of the moment thing for me. i was going to buy a bike with this years tax money but used the money to pay off bills instead.
What is your current car situation?
- If you have at least one, what are they, what are their gas mileages, and are they paid off?
-- If paid off, then a motorcycle is a bad choice unless it's a true gas guzzler and you're selling one.
-- If not, then what are the payments?
- If no car, then WTF are you thinking with a family of (almost) 5.
For your motorcycle to pay for itself (gas cost only), assuming you get 55 mpg on the bike (you have to baby it for that), 18 in your car, a $100 payment, and $3/gallon gas, you'd have to ride 892 miles per month IN PLACE OF YOUR CAR. That's a lot of commuting, since you're not getting many groceries on a bike. You really think you're up to it? That also doesn't include new tires every five thousand miles or so (not every 40-80k like a car), more frequent oil changes, chains, sprockets, drop damage repairs, and other expenses you don't have with a car.
With better information, I can give you a better idea, but a new bike typically don't save money over a reasonable, paid-for car.
too bad... he seemed like a good guy. I hope he gets his gs.
Sold my Ford Exploder to get my new bike. Exploder == 15 MPG... :cookoo:
Ford Exploder :cookoo:
This may have been the best thing you'll ever do. :laugh:
Quote from: RVertigo on June 14, 2007, 11:02:11 AM
Sold my Ford Exploder to get my new bike. Exploder == 15 MPG... :cookoo:
Meany = 16mpg ??
You should be happy, except it being a Ford. My lil bro just pidked up a 74 caddy 9MPG. 472ci.
Damn , lol , isnt about MPG there is it , i remember my zing 125cc , 100 mpg , so sweet , even a nissan skyline , thats considered a petrol drinker is 18 ;)
Quote from: Crucialval on June 14, 2007, 11:43:01 AM
You should be happy, except it being a Ford. My lil bro just pidked up a 74 caddy 9MPG. 472ci.
Don't you mean 9 GPM? :icon_mrgreen:
No Dout! :thumb:
He only got it to restore and sell he trade a car audio system for it only $150. out of pocket N.A.D.A. is 10K