JamJam
Well-known member
Yeah dude... it got sent twice... I replied back
Bike show 2017
- Thread starter cycling
- Start date
Yeah dude... it got sent twice... I replied back
Ha ha ha .... Sorry guys...You're right, it was poor form to leave you hanging like that
I bought a 2017 ZX-6R ABS KRT
It started out as a tough decision.... My final two on my short list was the zx-6r 636 and the daytona 675r. I must have spent about 1-1.5 hours going back and forth between the two bikes... looking at them, sitting on them etc.
The decision became easy when I decided to calculate the difference in final payout over the term and the difference between the offers was about $4500.... The daytona 675R is a nice bike but I personally don't think $4500 better than the 636. Thats a whole lot of riding instruction and tracks days I can buy with that money.
@Bigpoppa-- Yes I am financing..... I need to build credit history for myself if I plan to buy a house in the near future. I am mid 30's and everything I have, I have bought cash. Never had credit cards until recently and never had a vehicle loan. I do have the cash in the bank to buy outright but with 0% financing it works out for me that it doesn't cost me money to finance and I get credit/loan history
Don't borrow money for a depreciating item. Borrow for RRSP, take the taxable benefit and pay down the loan. Shows on your bureau and you make money!
Builds credit, banks love you and you get favourable/decent rates for mortgages.
Banks don't like loans for toys. It builds some history but can be looked at negatively compared to someone with no credit or someone with a $500 limit capital one MC.
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Respectly disagree ,life is way too short,if you got the dough buy whatever you want.My closest friend died at 30 years old,he never even got to own a car, graduated from York, became a teacher, just as his loans were almost paid off(one more year) he was going to buy his first car.Came home from overseas for christmas and dropped dead 3 days later,2 days before Christmas,sorry to be a downer, but that's reality.Buy what you want when you want
Very nice bike btw,and green of course is the best colour for a kawi
GO GREEN OR GO HOME !
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Riceburner
Well-known member
Respectly disagree ,life is way too short,if you got the dough buy whatever you want.My closest friend died at 30 years old,he never even got to own a car, graduated from York, became a teacher, just as his loans were almost paid off(one more year) he was going to buy his first car.Came home from overseas for christmas and dropped dead 3 days later,2 days before Christmas,sorry to be a downer, but that's reality.Buy what you want when you want
Very nice bike btw,and green of course is the best colour for a kawi
GO GREEN OR GO HOME !
Respectfully disagree. Not everyone is gonna die at 30. Gotta strike a balance. And borrowing $$$ for something that is gonna lose value isn't the smartest thing to do. Again, balance.
True , just my perspective without putting a whole lot of thought into it
Edit-That said the smartest thing to do is most times (atleast for myself) the most boring ,doing the most idiotic thing keeps life interesting....maybe part of the reason I ride,don't know, lol
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bigpoppa
Well-known member
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agree with balance.
However EVERYTHING loses value, cars (and people borrow for those all the time)
Real estate(see 2008 )
Think the GTA home prices will just continue to skyrocket forever? lol
Got to be careful when/how you borrow, but this notion that borrowing for a bike because it depreciates in value is ridiculous, because a lot of things do.
You can't compare real-estate to a car or bike, especially in terms of depreciating value. Cars and bikes will depreciate. Real-estate is a completely different ball game. 2008 is a poor example, unless your looking only at the short-term – look at those peak house prices prior to the crash... they were still a fraction of the cost of what they are worth today. Sure, it's rapid/insane growth in the industry now, but even when the pace slows it will still gradually appreciate over time, in the long term. Why? Because there's only so much land to build on. Your average 2017 mass produced crotch rocket with accumulating mileage and wear will never appreciate – short or long term.
bigpoppa
Well-known member
agreed, on the whole, even when crashes occur and bubbles crash, overall real estate prices still appreciate in the long term
Cars and motorcycles depreciate a whole lot faster, and permanently
The other thing some people tend to overlook with real estate is that you can live in it. So that's another bonus.
edit, Not that you couldn't live in a car, technically.
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financing anything is not a bad idea , IF YOU CAN AFFORD IT. Too many folks have a camper, two jet skis, nice sled, great bike and credit card debt, all financed. They should think about things differently.
Have a game plan, gainfully employed life partner, maybe a house, then maybe a nice financed bike is for you.
Have a game plan, gainfully employed life partner, maybe a house, then maybe a nice financed bike is for you.
TK4
Well-known member
Amen to that !
My response was to JamJam whom mentioned financing as a means to build credit as they use cash, was 30 years old and wanted to buy a house.
There are better ways to build credit than get a loan for a motorcycle.
Granted there are promotional financing offers for zero percent and other low interest options.
However, if it's simply to build credit, you can approach it other way.
Yolo! Riding a motorcycle isn't a rational activity to most. Financing a purchase? So be it.
Enjoy! What ever you do.
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There are better ways to build credit than get a loan for a motorcycle.
Granted there are promotional financing offers for zero percent and other low interest options.
However, if it's simply to build credit, you can approach it other way.
Yolo! Riding a motorcycle isn't a rational activity to most. Financing a purchase? So be it.
Enjoy! What ever you do.
Sent from my iPhone using Tapatalk
I agree with Nakkers, if your looking at "in house" finance at a motorcycle dealer in the interest of building a credit rating , you may be using that idea to justify in your head financing a motorbike.
Getting a credit card and using it for things you need to buy anyway, like groceries and gas, and paying it off each month will build a credit score.
Getting a credit card and using it for things you need to buy anyway, like groceries and gas, and paying it off each month will build a credit score.
He's already committed to it anyway, and he could have done worse than 0% APR.
GateKeeper
Well-known member
if you finance you need to have collision, so that will increase your insurance premium, if you own the bike you are not mandated to have it......but this will now depend on how new or old the bike is, on my 30 year old bikes I did not have it, on a newer bike you will probably consider having it even if you fully own it outright as it might cost you more to fix than to have the coverage included....
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I bought a brand new bike and wrecked it the same day. I didn't use my mandated insurance.
