how did you ppl pay for your bike?
#61
06-24-2007, 05:01 AM
#62
06-24-2007, 02:48 PM
RE: how did you ppl pay for your bike?
I walked in with the intention of paying in cash, walked out with no payments / no finance charges (no pre-payment penalty) for 6 months. I will be sending Honda a check 5 months into the loan.
The only thing smarter than purchasing in cash is to use their money for 5 months on top of it.
Honda did not require full coverage insurance unless the loan was over $10K USD.
However, my umbrella liability policy requires 100/300 liability coverage on any of my motorcycles, so I have full coverage on it anyway.
My personal policy is that if I cannot afford to purchase a depreciating asset in cash, I cannot afford the depreciating asset.
The only thing smarter than purchasing in cash is to use their money for 5 months on top of it.
Honda did not require full coverage insurance unless the loan was over $10K USD.
However, my umbrella liability policy requires 100/300 liability coverage on any of my motorcycles, so I have full coverage on it anyway.
My personal policy is that if I cannot afford to purchase a depreciating asset in cash, I cannot afford the depreciating asset.
#63
06-25-2007, 06:57 AM
RE: how did you ppl pay for your bike?
good call on the no interest financing - that's how i built all my credit. went into kay jewelers to buy a ring for my girlfriend at the time, and they talked me into signing up for their credit card and getting 0% for a year. so i paid it off in 11 months. no finance charges, and i earned interest on my money while i held it. plus, i went from no credit to perfect credit.
and that's a very good policy - don't buy things you can't afford. i have way too many friends that owe $10k on their $3k cars, as well as on furniture, tv's, computers, etc.
and that's a very good policy - don't buy things you can't afford. i have way too many friends that owe $10k on their $3k cars, as well as on furniture, tv's, computers, etc.
#64
06-25-2007, 08:31 AM
RE: how did you ppl pay for your bike?
I bought all my bikes (except for the CBR) through work Credit Union, although officially they never loaned me the the money for a bike, (new furniture, computer, whatever) as for that sort of loan, no Bill of ownership required = cheaper, no finance insurance. The CBR was cash, I had just retired on the Friday, picked my bike up on the Wednesday. Wot was really cool though was for a whole 21 days, had $475,263,28 in the bank
Then the Tax man cometh, followed by the Morgage man, and then my bloody sensible wife (who saw the lust in my eyes and the stack of bike mags & holiday brochures)
Then the Tax man cometh, followed by the Morgage man, and then my bloody sensible wife (who saw the lust in my eyes and the stack of bike mags & holiday brochures)
#66
06-28-2007, 06:06 AM