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Discussion in 'General Motorcycling Discussion' started by Owen, May 3, 2007.

  1. Just wondering how most people out there pay for their 'big' bikes? Like bikes around the 9k mark or higher, are they paid for with savings or with loans or both?

  2. home equity covered mine ... so guess its a loan really..
  3. Cash; worked really hard for around 9 months :) saved a bit every week and before i knew it i had enough for the bike.
  4. payout from work is paying for mine :p
  5. eBay paid for mine :grin:

    Sold off loads of sh#t that I never used, and didn't want any more and found myself with enough cash for my bike.

    So I guess the answer is cash.
  6. Cash.

    Buy a bike.... save money, sell bike buy new bike.

    I'ma strong believer in not buying things you cant pay for upfront (with the obvious exception of the house).

    As a young kid, a $15k motorcycle on a loan, and then the huge cost of insuring said vehicle while it's under finance (they charge way more for insurance in this situation you know) is really quite silly.

    Need versus want. We live in a society where want seems to always win.
  7. Loan/cash

    half cash - half loan.

    I work at a car dealership, so finance companies were generous for me.
    When this one is paid for , next six months, then trade in for bigger bike!.
    loan will be similar.

    I have my money invested in property, and am getting better than a 6 % return from that, so sums add up.
  8. Loan.

    Car was paid for by loan too.

    Some of us don't have the patience of saints ;)
  9. Loan, i just went back to the bank when my car loan was just about up and asked to continue along the same line for another 5 years.

    Ive been doing it for the last 5 with no hassle, i can do it for the next 5.

    Paid for my 1st bike and my wifes bike in cash though. Probably could have with this one as well, but i needed furniture for my new house, so it was easier to just go grab a wad of cash and be done with it.
  10. Hard earned cash for all mine, except my Piaggio X9, which I won!...yaaay :grin:
  11. Saved. Bought 250. Slooowwwly saving (too many expenses). Waiting until holidays so I have time to work alot and get the last few k I need for upgrade.
  12. Cash, loans are good but you pay way more than the $10000 that the bike cost. And its not worth the $10000 by the time its paid for
  13. A 5 year loan for 10K is going to cost you about 14K all up...
  14. I paid for mine with a loan, but I didn't need to borrow a lot, and I work full time in a cushy govt job.
  15. Yes, depends on how much you need to borrow.
    If you can pay it off quickly its not too much hassle, but $14000 all up for a $10000 bike over 5 years that is then worth around $7000 is not something I'd do.
    I dont like owing money for anything so I dont :wink:
  16. Cash for me.

    But, loans are a fact of life for most people. Owing money doesnt scare me in the slightest. So long as you factor the true cost of the finance into your thinking process, then its all good.

    The people who say they will never borrow bank money, i ask them 1) do you have a credit card? 2) do you or will you ever have a mortgage?
  17. Thanks for the replies people. Well i figure my bike is worth close to 5k so when it comes time to buy the new bike i will prob need a 5 grand loan. Half of that is going into dam insurance though, so insure a 10grand bike with comprehensive with 'Insure my Ride' is quoted at $2400 p.a. :shock: :(
  18. I was saving up for my big bike to replace the Across. Til the Across had many bits break on it in quick succession. The viability of throwing money at it to keep it running was quite rock-bottom and not worth it. It was my only transport and I needed a replacement, quick.

    I got a personal loan to finance the bike, insurance, and gear upgrades. It has allowed me to stay mobile no problem.
  19. jeeeebus!
    how old are you & have you ever been insured before?
  20. I am 22, and nope never been insured. I normally drive pieces of crap or ride cheap bikes, so was never a need for insurance. Im almost prepared to just get 3rd party. But if i got say a buell or triumph they would cost HEAPS to repair if anything happened.