Financed or paid up front?
#111
01-06-2012 | 07:50 PM
Supporter
Vehicles and bikes are done with cash. They are so much cheaper when you do it that way. Save up first for the first one and pay yourself til ya want the next one and on you go. But, that's just me I guess.
#112
01-06-2012 | 08:00 PM
Almost nobody admits to financing their bike....
I find that strange...
I have enough cash in the bank to buy my bike twice over and then pay for the mods to both of them. But I financed most of my bike...
Yep, put the money I was ahead in the Heritage, almost $6,000 down and financed the rest.
Why?
It's simple really. I think it is much easier to make my payment (about $300) each month than it is to save up nearly $24,000. My bank accounts never go down (unless I move the money to stocks or other investments) they only go up each and every year.
They say you are supposed keep at least 6 months living expenses available. I have closer to 4 years worth ready without touching my retirement.
I think having cash on hand and available is more important than not having a payment. That said the only payments I have are the bike, my wifes car and the house. Every bill, every credit card is always paid in full when recieved....
If I can't afford it , I don't buy it. That does not mean I don't finance it.
I find that strange...
I have enough cash in the bank to buy my bike twice over and then pay for the mods to both of them. But I financed most of my bike...
Yep, put the money I was ahead in the Heritage, almost $6,000 down and financed the rest.
Why?
It's simple really. I think it is much easier to make my payment (about $300) each month than it is to save up nearly $24,000. My bank accounts never go down (unless I move the money to stocks or other investments) they only go up each and every year.
They say you are supposed keep at least 6 months living expenses available. I have closer to 4 years worth ready without touching my retirement.
I think having cash on hand and available is more important than not having a payment. That said the only payments I have are the bike, my wifes car and the house. Every bill, every credit card is always paid in full when recieved....
If I can't afford it , I don't buy it. That does not mean I don't finance it.
My wife and I make a very good living, but I chose to finance for exactly the same reasons. I like knowing I can sustain myself for years based on my savings as opposed to cleaning myself out on something that depreciates at such a fast pace. IMHO.
#113
01-06-2012 | 08:29 PM
In my book there's nothing wrong with using credit wisely and responsibly. I sure didn't have $21,000 sitting around when I bought my RK. So I put down over a third down and financed the rest. Just like some others, I figured there's nothing wrong with getting something now and enjoying rather than waiting and waiting until I had the cash to pay for it. As I said, you have to use credit wisely and responsibly.
#115
01-06-2012 | 08:54 PM
Example: Hell if you have 40k in your account and take a loan out for 5k you can still take out another loan before you paid the first one off, as long as its not more than 1/2 of your total. But no more than two loans at a time, this was my first new Harley and I have owned used ones too....nothing wrong with a good deal when you find one. Now if only I could win the lottery and paid my house off in cash........................LOL!
#116
01-06-2012 | 09:31 PM
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From: Kentucky
Also tend to spend ALOT less when I pay cash. It hurts to part with cash compared to swiping a card. I buy alot less crap with cash now compared to when I had credit cards. Cut them all up years ago.
Bought used this year, paid cash. 98 RKC
#118
01-06-2012 | 09:51 PM
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I found out when you get out of debt and stay out of debt the cash builds up quickly.
Also tend to spend ALOT less when I pay cash. It hurts to part with cash compared to swiping a card. I buy alot less crap with cash now compared to when I had credit cards. Cut them all up years ago.
Also tend to spend ALOT less when I pay cash. It hurts to part with cash compared to swiping a card. I buy alot less crap with cash now compared to when I had credit cards. Cut them all up years ago.
I didn't give up my credit card. I don't carry a balance on it
but I use it to pay for gasoline, I hate making two trips to the
inside just to gas up. It also comes in handy for those times
you need a card to reserve a room, and a few other things.
#119
01-06-2012 | 10:05 PM
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From: Kentucky
I had to get rid of the credit cards because the wife couldn't control herself. Even a trip to walmart and she would come back with $200 of stuff we didn't need.
Most families have 2 car payments, and 2 or 3 credit card payments. That's how it was with us. $1000 a month in payments.
It's funny how so many people that have the higher incomes have less cash and more debt.
If a person can make 75 grand a year but live on 60 grand a year the cash adds up real fast.
Most families have 2 car payments, and 2 or 3 credit card payments. That's how it was with us. $1000 a month in payments.
It's funny how so many people that have the higher incomes have less cash and more debt.
If a person can make 75 grand a year but live on 60 grand a year the cash adds up real fast.
