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A common problem

Discussion in 'New Riders and Riding Tips' at netrider.net.au started by 00oli, Dec 4, 2008.

  1. I'll try to outline my issue concisely:

    I've just got my Ls (after doing the pre-learners twice!) and am looking now to finding a bike. My parents had previouly told me that they would give me the money, but have now withdrawn this offer. Since I'm 17 (18 in about 5 months), I'm finding it hard to get finance.

    How would you all act in this scenario to get on the roads as soon as possible?

    Edit: If anyone did get finance or any sort of loan from any kind of institution whilst under 18 with or without a cosignee/guranteer , I'd really appreciate the exact details of the place!


     
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  2. You cannot get finance without parental approval until you are an adult.

    First bike, see if your parents will cover the cost of safety gear then. Helmet, gloves, jacket etc. Don't be stupid though and go for top shelf Shoei gear and Dainese leathers.

    The bike? Work your arse of and save for it. It is a first bike, you are likely to drop it or do something silly with it so don't get yourself in excessive debt to get one.

    Don't get finance from a shop.
    Do insure the bike.
     
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  3. Pq2xW59S.
     
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  4. +1, just to back this up, one particular shop my mate went to was going to give him finance for an $8,000 bike, paying that off over 5 years would have cost him about $15,000 (if we did our maths right).
     
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  5. i was similar... cept 18 overall cause of Victorian rules... still on car L's... doing bike P's on monday..

    all i can say is get a job :p i am VERY reluctant to take loans of any sort so early in life.. but a year and a bit of saving (so i spent a fair biut as well) has landed me with a nice bike, pretty decent gear and a lot of fun :D
     
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  6. I have two jobs, and work about 20 hours a week. I know thats not a whole lot by anyone's standards, but since I just finished school everybody else is kicking back and doing nothing at all, so I'm not doing too badly. At my current rate, I'm looking at a 2 year period before I can buy outright and I'd prefer something a little more present-minded!
     
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  7. 00oli
    just work and save. I was in your position about a year ago. Just had to work my arse off and save what I could. Now I've got the bike and can't stay off it :)
     
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  8. its a decent amount but jeez the payrate must not be that good? im not sure what NSW is like, i havent lived there in 5 and a half years... but i thought that many hours at a decent rate wouldnt take 2 whole years.

    my advice would be in that case to look at 90s bikes, 2nd hand (of course). cheaper, probably better to start with (dont quote me on that one).

    but as tunelliner said, work and save. it'll all be worth it in the end (and yes there may be no light at the end of the tunnel to start with :( )
     
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  9. Be patient. Work hard. Buy cheap.
     
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  10. Get someone to call your mobile phone whilst your parents are around and reply to the call saying...
    " No, I've told you half a dozen times already, I am not interested!, I don't care how much money you make selling drugs, I'd rather go without than get involved"

    Then see if they re-consider
    :p
     
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  11. - Don't go into debt on a bike
    - Don't go into debt on your first bike
    - A $1500 bike to learn on is fine.
    - If it's going to take you 2 years to save $1500, then either get a better job or get rid of your mobile. A bike is more important.
     
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  12. I'd re-negotiate with the parents.
    Either ask them to pay for the safety gear, or maybe get them to match whatever you can save and meet you halfway. If you can save $1.5k and they pitch in the same, that will be enough to get you on the road with gear.
     
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  13. At 20 hours a week on say $13-14/hour (average rate for your age) thats still around $250 a week... It only costs $1000-1500 to buy a bike you can learn on if you don't buy anything fancy. Without spending any of your pay you could save it in 6 weeks, realistically if you were smart with your money 10-12 weeks.

    Just buy something to get you around, don't spend big on your first bike. Learning to ride is the most important thing, the nicer bike can come later when you actually know how to ride and can afford it.
     
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  14. And with the maths (of 1000-1500) for a bike, add anywhere between 400-1500 for gear that will help out in the event of being it or dropping it/falling off.
     
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  15. Hi Ooooi,

    I realise that most peole's answers, aren't want you wanted to hear...
    and being told to buy a 2nd hand bike @ ~1,500 doesn't sound too bloody sexy either.

    But the advice everyone is giving you, is coming from people that have been in a similar position to you and have the benefit of hindsight.

    Far better to have a cheaper bike (Initially) and a cheap bike to repair wile you are on your L's and sometime into your P's.
    This way IF you do have an "off" it isn't going to take you the next four years to be able to afford it to get it repaired.

    Again - it isn't sexy, but it is definitely sound advice by all. Be patient - you don't NEED the biggest and best, sure you might want it.... but initially - get what you NEED.

    Gavin.
     
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  16. Thanks so much for all the advice thus far, it's made me feel much more positive about my situaiton.

    Another thought I had was that perhaps a sympathetic seller would allow me to pay off the bike in installments, if I agreed to pay a little extra upfront (or perhaps out of the milk of human kindness). Has anyone had experience with this, or even more opportunisitically does anyone have a cheap learner bike and wouldnt mind being paid incrimentally?

    Heres hoping!
     
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  17. Ey mate, take it from someone who was in the exact same shoes....

    I got my licence when i was 17, borrowed friends bikes for a few months every now and then, couldn't afford a bike but went for P's anyway (failed) then waited and saved for about 6 months, picked up a little Spada for $2500, rode it for a good 15,000 K's, crashed it once on my L's and once on my P's, both were cheap fixes (under $1000) and it cost me a few services on top of that.

    At 21 now i got the firestorm for $6500 fully aware of the fact that i'm still young and dumb and very likely to get into an expensive situation.

    Mate, wait it out if you can, I have mates that spent $8000 on those hyo p.o.s.'s and one smashed it to bits when he flipped it doing a wheelie and the other one was lucky enough to keep it long enough to see some of the mechanical problems that they are famous for....

    My little 250 wasn't a great bike by anyone's standard but getting to know something like that and getting your hands dirty fixing it will give you not only give you more respect for the machine but more confidence that you can survive financially if something goes wrong.

    Saying all this, i haven't made all the best decisions either, i got crap gear to start with and felt the fact and i bought the first bike i saw when i got my chickenhawk. I was lucky enough not to regret the latter but seriously, don't fear the wait... you will thank yourself for it later.
     
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  18. I don't like your chances of getting a sympathetic seller, I know I would never let someone pay me in installments, especially on the learner market where bikes move within a week or two. Especially when realistically, as soon as you take the bike away from him, you own it, you could stop paying and he'd have no recourse for reimbursement. It's a huge risk for a seller, and unnecessary given the demand in the market.

    Just knuckle down for 2 or 3 months, stop buying take-away, stop drinking, cut down all your unnecessary expenses and you'll be riding a bike in no time, and be in a much better financial situation because of it. Especially over the christmas break and summer, the time will fly by. With the amount of hours you work, it won't take long to get the coin if you're smart enough with your cash.

    Remember its just a first bike, not your last, it doesn't have to be pretty, it doesn't have to be quick, it just needs to run well.
     
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  19. If you cant afford to buy a bike you cant afford to keep it either.

    So set about scraping up $3000 - $5000 and spend half on the bike the rest on gear and insurance. Keep working your arse off to keep it on the road.

    I would not be financing a first bike :eek:
     
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  20. + 1

    Best advice of the thread.

    I got this exact line when i was 17 and its what gave me realistic expectations about what i should have been looking for.

    Taking into account the fact that riding costs alot more than the outlay can save alot of stress and headache through preperation.

    Good luck with it mate
     
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