One third down in cash in April 2011. Financed the rest and just paid it off yesterday, along with my kids braces!!!

 

When I was 18, I bought my jeep on my own, financed. When I was 19 I bought my gixxer, financed. When I was 22, the jeep and the gixxer were paid off, I bought my fatboy, financed. When I was 23 I bought my house, Obviously financed. lol I'm now 24 and I owe 5g on my fatboy, my other toys are paid for, and I pay a 1/4 of my mortgage weekly instead of monthly which will take 6-7 years off in the end, although in a couple years I plan to change over to a 15 year fixed to knock some years off.

I'd like to say i'm doing pretty good for 24 and considering I had ZERO help from anyone. The only time I got money from my parents was 500 bucks for a wedding gift when I got married in august.

I don't see anything wrong with financing something you want as long as you know how to manage your money.

 

I finance... I keep my money in my bank... If something unforeseen happens... The bike can go away... Still have my money... I don't worry 2 much about interest either...
I buy a bike in my perceived budget... Set up automatic payments, weekly. This allows for about 20-30 more a month being paid on the note... It's taken out the night before my check is deposited... I pay the first 2 months on the regular due dates plus the weekly payments I set up...
Within that first 2 months, I am way in front of the loan... Way out in front of the interest! I cut my interest to near nothing... I never see the money leave my bank truly, except twice...
I never miss a payment, it's never behind, I never see the money as gone... The Liam usually ends up paid off about 2 years sooner...

So in my perceived reality.... I keep my money, and never really see that I pay for the bike.. It's almost as though I never pay for the bike.... Pay my insurance, full at the beginning of the year..
I like my money, in my bike, where it does me good....
I'm not scratching a check, to improve somebody else's bottom line, I'd rather keep my 15-30,000 than just hand it over to some one.... That seems foolish...

Hey, look how rich I am... I pay cash... I'm so good...
Yeah... And HD just jacked you for all your hard earned money.... And your lighter in the bottom line, with no way to get that money back!!

 

all benjamins 2 big stacks
never financed anything in my life
total credit ghost

 

Cash only, It took me 60 yrs to get my first harley want to make sure nobody takes it away.

 

You're smarter than I was at 24, that's for sure.

 

I think financing items like this makes sense too. I had the money to purchase 5 bikes with cash, at the time I FINANCED my current bike. It just didn't seem like it made a lot of sense to pay cash for something like a bike. I think over the life of my bike loan I'll pay something like $3000 in finance charges.

Instead, I took 40k and paid it towards the loan on my home. Over the life of my home loan, I'll save something like $75,000. Seemed like a smarter move to me. Additionally, I feel proud in knowing that I'm not one of the many people who have walked away from their home loan and caused so much financial ruin to our economy.

 

Unfortunately, someone steals your bike and you have....

1. No bike.
2. No cash.
3. Wait for insurance company to "reimburse" you.

 

Usually cash and carry but the last few I financed. And I went in knowing I could/would pay off early. The RK will be free and clear 10 months after I put a plate on it and signed the paperwork.

 

Wrote a Check for the Full amount.