There is a certain satisfaction in holding the title.. to a motorcycle, a car & the house. I found no such satisfaction in worrying about investments.

 

I hear you im 22 and was in the same boat but paying for your bike straight cash with no worries is the way to go makes you feel like a mack id look at a used low mile bike let some idiot take the loss driving it off the lot

 

yea i can save more but damn was looking forward to putting this little honda aside and i dont want to put money in it.

i will save and i guess will see if i can with one last dealer if not used it is i will be probably looking at FXR's on c list

 

Got mine with 3k miles on it, bunch of accessories already installed, and saved a ton of cash.
When I told my dad what I got and what I paid for it - he asked what's wrong with it. There are good deals out there...

 

My .02.

1-Man needs credit, and needs A-1 credit.
2- Man needs toys
3- Man should save 1/2 or so and go to dealer and see if they will finance then.
4- #3 should help take care of #1 and #2.

 

Daddy-O's rules for toy buying:

Rule #1: Man should not buy what man can not afford.
Rule #2: Get deal by looking for man who violates Rule #1.

 

I couldn't have said it better.

Now for the other references about financing at 1% vs. investing at 2%. The bottom line is your paychecks aren't tied up in paying back a loan when you pay cash. It's a one time transaction...done and over with. When you pay cash you are free from a monthly payment. Invest that much per month, so when storm clouds come you won't have to sell the bike or worry about making payments. You can press pause on investing until the sky is clear again instead of worrying about payments. The same goes for saving for a bike: 1st, have money for emergency savings. (3-6 months expenses) Then while you're saving for your bike if something comes up you can press pause on saving, execute the emergency plan, then resume saving without skipping a beat. Or you can be like the other handful of guys on here trying to sell their bikes for what they still owe because, "Gotta kid on the way." Most end up losing what they've paid, plus what they've put into accessories. I'm not better than anyone else. I'VE BEEN THERE AND DONE THAT! Save some cash and you will be the next to scoop up someone's baby that thought they could afford it.

 

Also, forget about credit. Do a little research; people are doing more damage trying to "Buy" a number. (Credit Score) That way they can borrow more money and dig a bigger hole someday. Forget about buying that number and worry about building wealth so you won't have to worry about that number anymore. A person making 15K/year living in a trailer and living paycheck to paycheck can have excellent credit. Good credit isn't an achievement. People that brag about it are basically saying, "I love debt and paying to use other people's money!"

Later.

 

Bought my 08 street bob with low miles and accessories for a really good price. I am 26 and have always saved money to buy what I want. Pickups, bikes, etc. I have never had a loan for anything. Now me and my fiance are looking to buy a house and we dont have a chance in hell at getting a loan. Were hard working and make good money but that dosent make a f&%# to banks or realtors. I have had to get a credit card and use it for everything just in the hopes that I might have credit one of these days.
The more dept you're in the better you are in life now. Long gone are the values that alot of us believe in.
Even if you have the cash to pay for it I would say try and get a loan for it anyways, if you're young you NEED CREDIT.

 

1% on 10K ain't much. certainly having the clear title in hand is worth more than $100.