A Day I Thought Would Never Come...
#1
08-11-2007, 10:33 AM
A Day I Thought Would Never Come...
I have a little girl due in October and its time to sell my first child, my 600rr. I used to wonder why so many people sold their bikes and would think, "Not me! Never!". Well, sitting downand looking at my finances I really don't see how I can afford to keep it. Have some credit card debt I need to pay off, child care & huggies are going to cost, and I've got tofinally get my finances in order. I posted my bike for sale and ever since then I can't evengo in the garage to look at it.
By any chance, does someone know a good website to get motorcycle values that factor in mileage? I listed it for $6,900. Its a 2006 600rr, black, with 8100miles. Had it fitted with a Yoshi RS-5 carbon fiber slip-on, PCIII, flushmount LED signals, and Competition Werkes fender eliminator. I have all the original parts to go with it as well. Was hoping you all could offer some feedback on the price. Too high? or just about right? Thanks in advance for any help you all can offer. [
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By any chance, does someone know a good website to get motorcycle values that factor in mileage? I listed it for $6,900. Its a 2006 600rr, black, with 8100miles. Had it fitted with a Yoshi RS-5 carbon fiber slip-on, PCIII, flushmount LED signals, and Competition Werkes fender eliminator. I have all the original parts to go with it as well. Was hoping you all could offer some feedback on the price. Too high? or just about right? Thanks in advance for any help you all can offer. [
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#3
08-11-2007, 11:05 AM
RE: A Day I Thought Would Never Come...
How many cars do you have?
To be frank, the $6K you will get for it will get eaten up by what you think are necessary chil-related expenses in a few months. If you don't have that $6K to buy the kid extra stuff, the kid will still hit 18 some day.
That paid for bike worth $6K is an asset that you can tell the bank you have when you need a loan. Also, the bike is a second vehicle that you will have that gets 40 miles per gallon. Since it's paid for, just drop down to liability insurance and only ride it at legal speeds when you need the second vehicle. Then when you have outgrown the diaper expenses and you've gotten your next raise a few years down the line, put proper coverage back on it and get back to corner carving.
Basically, you have a major asset at your disposal. Don't get rid of that so you can buy some extra toys and have a few more sweaters. If you REALLY have problems making ends meet, like you can't buy food and diapers, you need to come up with other solutions, like changing living arrangements and getting family support or something. Basically, assuming you are fairly poor and are tight on money, you are in the minority in that you have managed to acquire a major asset like a motorcycle. Most people who have trouble buying diapers DON'T have a sportbike in the garage, if they have a garage at all. So if you have an asset like that, getting rid of it is one of the LAST things you want to do. You want to have that bike around so you can sell it when the baby needs emergency surgery, or your family car has a meltdown. THEN you think about selling the bike. Don't sell one of your major assets just to have a little extra cash to get through a few months of expenses.
Keep the bike. Don't think about modding it. Don't take long pleasure rides that require lots of oil changes and frequent tire replacements. Think of your bike as a 40 mpg commuter that can save you money in good weather. I bet there are a lot of minor things that you can change, like renting fewer movies or eating out less or quitting smoking or quitting buying beer or going out drinking with friends on the weekends. Baby expenses like diapers and formula are on the order of cutting $20 or $30 of weekly expenses from somewhere else. You lose that bike, yuo can't be sure when you will be able to get another one. Or when you will be able to afford a second car. The $6K you will get from it will be gone in a matter of months. Life will still be tough. You still won't be a millionaire. And your family will be minus one major asset that could be useful as transportation or as cash collateral when something seriously bad happens. Worst case, de-insure it and let it sit on your garage until you can afford the insurance.
The bike is a valuable thing. Keep it unless you have a real emergency.
Edit: This is assuming you don'tmake a lot of money but somehow managed to have a paid off bike at your disposal. Now if you have a decent amount of money and you are still making payments on the bike, and want to have one less payment so you can keep a comfortable standard of living and won't be upside down o the bike, then sure, I understand wanting to reduce debt to be able to live free. But if the bike is paid for and yuo don't have a lot of cash, then keep it like I said above.
To be frank, the $6K you will get for it will get eaten up by what you think are necessary chil-related expenses in a few months. If you don't have that $6K to buy the kid extra stuff, the kid will still hit 18 some day.
That paid for bike worth $6K is an asset that you can tell the bank you have when you need a loan. Also, the bike is a second vehicle that you will have that gets 40 miles per gallon. Since it's paid for, just drop down to liability insurance and only ride it at legal speeds when you need the second vehicle. Then when you have outgrown the diaper expenses and you've gotten your next raise a few years down the line, put proper coverage back on it and get back to corner carving.
Basically, you have a major asset at your disposal. Don't get rid of that so you can buy some extra toys and have a few more sweaters. If you REALLY have problems making ends meet, like you can't buy food and diapers, you need to come up with other solutions, like changing living arrangements and getting family support or something. Basically, assuming you are fairly poor and are tight on money, you are in the minority in that you have managed to acquire a major asset like a motorcycle. Most people who have trouble buying diapers DON'T have a sportbike in the garage, if they have a garage at all. So if you have an asset like that, getting rid of it is one of the LAST things you want to do. You want to have that bike around so you can sell it when the baby needs emergency surgery, or your family car has a meltdown. THEN you think about selling the bike. Don't sell one of your major assets just to have a little extra cash to get through a few months of expenses.
Keep the bike. Don't think about modding it. Don't take long pleasure rides that require lots of oil changes and frequent tire replacements. Think of your bike as a 40 mpg commuter that can save you money in good weather. I bet there are a lot of minor things that you can change, like renting fewer movies or eating out less or quitting smoking or quitting buying beer or going out drinking with friends on the weekends. Baby expenses like diapers and formula are on the order of cutting $20 or $30 of weekly expenses from somewhere else. You lose that bike, yuo can't be sure when you will be able to get another one. Or when you will be able to afford a second car. The $6K you will get from it will be gone in a matter of months. Life will still be tough. You still won't be a millionaire. And your family will be minus one major asset that could be useful as transportation or as cash collateral when something seriously bad happens. Worst case, de-insure it and let it sit on your garage until you can afford the insurance.
The bike is a valuable thing. Keep it unless you have a real emergency.
Edit: This is assuming you don'tmake a lot of money but somehow managed to have a paid off bike at your disposal. Now if you have a decent amount of money and you are still making payments on the bike, and want to have one less payment so you can keep a comfortable standard of living and won't be upside down o the bike, then sure, I understand wanting to reduce debt to be able to live free. But if the bike is paid for and yuo don't have a lot of cash, then keep it like I said above.
#4
08-11-2007, 11:11 AM
#5
08-12-2007, 01:17 PM
RE: A Day I Thought Would Never Come...
ORIGINAL: baileyjn
How many cars do you have?
To be frank, the $6K you will get for it will get eaten up by what you think are necessary chil-related expenses in a few months. If you don't have that $6K to buy the kid extra stuff, the kid will still hit 18 some day.
That paid for bike worth $6K is an asset that you can tell the bank you have when you need a loan. Also, the bike is a second vehicle that you will have that gets 40 miles per gallon. Since it's paid for, just drop down to liability insurance and only ride it at legal speeds when you need the second vehicle. Then when you have outgrown the diaper expenses and you've gotten your next raise a few years down the line, put proper coverage back on it and get back to corner carving.
Basically, you have a major asset at your disposal. Don't get rid of that so you can buy some extra toys and have a few more sweaters. If you REALLY have problems making ends meet, like you can't buy food and diapers, you need to come up with other solutions, like changing living arrangements and getting family support or something. Basically, assuming you are fairly poor and are tight on money, you are in the minority in that you have managed to acquire a major asset like a motorcycle. Most people who have trouble buying diapers DON'T have a sportbike in the garage, if they have a garage at all. So if you have an asset like that, getting rid of it is one of the LAST things you want to do. You want to have that bike around so you can sell it when the baby needs emergency surgery, or your family car has a meltdown. THEN you think about selling the bike. Don't sell one of your major assets just to have a little extra cash to get through a few months of expenses.
Keep the bike. Don't think about modding it. Don't take long pleasure rides that require lots of oil changes and frequent tire replacements. Think of your bike as a 40 mpg commuter that can save you money in good weather. I bet there are a lot of minor things that you can change, like renting fewer movies or eating out less or quitting smoking or quitting buying beer or going out drinking with friends on the weekends. Baby expenses like diapers and formula are on the order of cutting $20 or $30 of weekly expenses from somewhere else. You lose that bike, yuo can't be sure when you will be able to get another one. Or when you will be able to afford a second car. The $6K you will get from it will be gone in a matter of months. Life will still be tough. You still won't be a millionaire. And your family will be minus one major asset that could be useful as transportation or as cash collateral when something seriously bad happens. Worst case, de-insure it and let it sit on your garage until you can afford the insurance.
The bike is a valuable thing. Keep it unless you have a real emergency.
Edit: This is assuming you don'tmake a lot of money but somehow managed to have a paid off bike at your disposal. Now if you have a decent amount of money and you are still making payments on the bike, and want to have one less payment so you can keep a comfortable standard of living and won't be upside down o the bike, then sure, I understand wanting to reduce debt to be able to live free. But if the bike is paid for and yuo don't have a lot of cash, then keep it like I said above.
How many cars do you have?
To be frank, the $6K you will get for it will get eaten up by what you think are necessary chil-related expenses in a few months. If you don't have that $6K to buy the kid extra stuff, the kid will still hit 18 some day.
That paid for bike worth $6K is an asset that you can tell the bank you have when you need a loan. Also, the bike is a second vehicle that you will have that gets 40 miles per gallon. Since it's paid for, just drop down to liability insurance and only ride it at legal speeds when you need the second vehicle. Then when you have outgrown the diaper expenses and you've gotten your next raise a few years down the line, put proper coverage back on it and get back to corner carving.
Basically, you have a major asset at your disposal. Don't get rid of that so you can buy some extra toys and have a few more sweaters. If you REALLY have problems making ends meet, like you can't buy food and diapers, you need to come up with other solutions, like changing living arrangements and getting family support or something. Basically, assuming you are fairly poor and are tight on money, you are in the minority in that you have managed to acquire a major asset like a motorcycle. Most people who have trouble buying diapers DON'T have a sportbike in the garage, if they have a garage at all. So if you have an asset like that, getting rid of it is one of the LAST things you want to do. You want to have that bike around so you can sell it when the baby needs emergency surgery, or your family car has a meltdown. THEN you think about selling the bike. Don't sell one of your major assets just to have a little extra cash to get through a few months of expenses.
Keep the bike. Don't think about modding it. Don't take long pleasure rides that require lots of oil changes and frequent tire replacements. Think of your bike as a 40 mpg commuter that can save you money in good weather. I bet there are a lot of minor things that you can change, like renting fewer movies or eating out less or quitting smoking or quitting buying beer or going out drinking with friends on the weekends. Baby expenses like diapers and formula are on the order of cutting $20 or $30 of weekly expenses from somewhere else. You lose that bike, yuo can't be sure when you will be able to get another one. Or when you will be able to afford a second car. The $6K you will get from it will be gone in a matter of months. Life will still be tough. You still won't be a millionaire. And your family will be minus one major asset that could be useful as transportation or as cash collateral when something seriously bad happens. Worst case, de-insure it and let it sit on your garage until you can afford the insurance.
The bike is a valuable thing. Keep it unless you have a real emergency.
Edit: This is assuming you don'tmake a lot of money but somehow managed to have a paid off bike at your disposal. Now if you have a decent amount of money and you are still making payments on the bike, and want to have one less payment so you can keep a comfortable standard of living and won't be upside down o the bike, then sure, I understand wanting to reduce debt to be able to live free. But if the bike is paid for and yuo don't have a lot of cash, then keep it like I said above.
#6
08-12-2007, 06:05 PM
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RE: A Day I Thought Would Never Come...
If the sale of the Bike will wipe out your credit card debt (Guessing about $6K) then you're not bad at all... (average american has $15K+)I'd say re-finance at a lower %rate (personal loan or something) and wipe out the cards like that.Make a budget, and stick to it! Then make damned sure you don't rack them up again. Hell if you're expecting a good Tax return next year that might be enough to take care of the cards. (Ifthe govdoesn't take the child tx credit away before then.) Selling the bike is not necessary, but if you feel you need to do it, then go ahead. Oh and congratulations on becoming a father 
it is the one thing that will change your whole life, but you'll love evry minute of it.
it is the one thing that will change your whole life, but you'll love evry minute of it.
#8
10-08-2007, 12:29 PM
RE: A Day I Thought Would Never Come...
Hey guys, just an update, my little girl was born on the 16th of Sept and is doing great. Since then Ive decided to KEEP the bike, as its the one thing, besides playing PGR4 in between feedings, thats keeping my sanity. Because of some issues during labor, my girlfriends had to stay in the hospital and Ive been taking care of the little one by myself.
During the past few weeks Ive had Grandma watch her a few times and I took the opportunity for a few long rides. It felt so good to get out on the bike and Im glad that I decided to keep it.
Also talked to my GF about some things and came to an agreement: I wait a few years and I can get another bike, most likely a 1000rr (buy an '08 in '09), and use the 600rr to get my speed fix at the track. We have a few that are somewhat nearby and it shouldnt cost too much to convert the 600 to track-only. Being a new dad has definitely given me even more throttle control, and with this future arrangement I can spend some time and money to learn some new skills and open her up a bit.
During the past few weeks Ive had Grandma watch her a few times and I took the opportunity for a few long rides. It felt so good to get out on the bike and Im glad that I decided to keep it.
Also talked to my GF about some things and came to an agreement: I wait a few years and I can get another bike, most likely a 1000rr (buy an '08 in '09), and use the 600rr to get my speed fix at the track. We have a few that are somewhat nearby and it shouldnt cost too much to convert the 600 to track-only. Being a new dad has definitely given me even more throttle control, and with this future arrangement I can spend some time and money to learn some new skills and open her up a bit.
#10
10-09-2007, 06:37 PM
RE: A Day I Thought Would Never Come...
The only thing you have to worry about is the formula, and child care. If your girl qualifies for WIC, you can take the cost of the formula away. Diapers are fairly cheap, especially for a new born. I don't understand why people think diapers are expensive (the only exclusion being 2 or more children).
All in all, I would keep your bike. Ifor surehave more debt and probably less income than you and still manage to provide for my son. Your girl is right about you selling your bike. "Don't do it, reconsider......"
All in all, I would keep your bike. Ifor surehave more debt and probably less income than you and still manage to provide for my son. Your girl is right about you selling your bike. "Don't do it, reconsider......"