How did u pay for your bike?
Senior Member
Joined: Nov 2010
Posts: 128
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From: Grimsby UK
Payed £4k finance, 1k deposit down and £3k over 12 months = 06 F4i with 5k miles. And I'm 17 and manage to pay... No need for a student loan, that said, being 17 I wouldn't be able to get one anyways....
Senior Member
Joined: Jul 2009
Posts: 4,471
Likes: 4
From: West Philly, PA!
Well technically I paid $0.
Ororo was a birthday / very early Christmas gift from my girlfriend.
Student loan doesn't bother me. A loan, even govt subsidized, is paid back with interest. Which = profit. I went to UT Austin and one of my friends put about $4,000 from leftover scholarship / grant money into refurbishing his apartment (surround sound, big screen tv, ect). That money never had to be repaid (nor did they ever audit him).
I had 2 full scholarships to UT (Texas Merit and National Merit) but was honest and turned down the extra $20k+ per year
Ororo was a birthday / very early Christmas gift from my girlfriend.
Student loan doesn't bother me. A loan, even govt subsidized, is paid back with interest. Which = profit. I went to UT Austin and one of my friends put about $4,000 from leftover scholarship / grant money into refurbishing his apartment (surround sound, big screen tv, ect). That money never had to be repaid (nor did they ever audit him).
I had 2 full scholarships to UT (Texas Merit and National Merit) but was honest and turned down the extra $20k+ per year
yeah man I mean I'd stay away from loans. you have 5k you can get a really nice ride with that unless you are wanting something NEWWW 
but if you do go loan stay away from the bike shops try and get the loan with a bank I'm sure you will have a much better apr then with your bike shop. Me I was lucky my friend left a guitar amp for at my place for years and I told him I was gonna sale it. He didn't care so I traded it for a honda 91 crx, then that for a katana, and sold the katana for my cbr lol. no money outta my pocket!! yay! just other then the stuff I'm doing to the cbr. anyways good luck man hope it works out for you
but if you do go loan stay away from the bike shops try and get the loan with a bank I'm sure you will have a much better apr then with your bike shop. Me I was lucky my friend left a guitar amp for at my place for years and I told him I was gonna sale it. He didn't care so I traded it for a honda 91 crx, then that for a katana, and sold the katana for my cbr lol. no money outta my pocket!! yay! just other then the stuff I'm doing to the cbr. anyways good luck man hope it works out for you
Senior Member
Joined: Apr 2008
Posts: 162
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From: SW Ontario, Canada
This is why the Student Loan program is a total nightmare. You're spending Governtment Money (which means OUR money) to buy a ****ing motorcycle.
Original Poster - each situation is different. There is nothing wrong with financing something. With a small purchase like a motorcycle I think what the guys above have done by paying it off early is smart.
Original Poster - each situation is different. There is nothing wrong with financing something. With a small purchase like a motorcycle I think what the guys above have done by paying it off early is smart.
Yeah??? Because the Gov't only spends taxpayers money wisely....?lol
Member
Joined: Nov 2010
Posts: 51
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From: albany GA
Oh yeah, you can get a sweet ride for that!
Senior Member
Joined: Jul 2009
Posts: 4,471
Likes: 4
From: West Philly, PA!
You prolly don't want to finance a used bike anyways. Most are "As Is", no warranties on them. It'll suck to have to make payments and not be able to ride while trying to save up cash for parts / service.
I sold a 2001 mustang ands bought a 2001 F4i six months later with the money. Figured I could only drive the mustang when I could ride a bike, and with the mustang being a coupe, I thought the bike would be nicer.
To the op... if it were me, I would probably get something less nice and less expensive if it was my first bike.... then move up later. I would also pay cash. That's just what I would do, though. My first street bike was about half as much cash as you're talking, and my first dirt bike was a $75 project.
Different strokes I suppose, but at 19 I was also a poor *** college kid .
I've paid cash for all my vehicles except 2. I took a $1,600 loan on my first car to build a little credit and I paid $2200 cash on the remaining balance.
Since then, I've paid cash for like 7 cars & trucks and 4 bikes. One bike I financed (new) because the rate was good, bike was cheap, and I doubled up on payments anyway.
Different strokes I suppose, but at 19 I was also a poor *** college kid .
I've paid cash for all my vehicles except 2. I took a $1,600 loan on my first car to build a little credit and I paid $2200 cash on the remaining balance.
Since then, I've paid cash for like 7 cars & trucks and 4 bikes. One bike I financed (new) because the rate was good, bike was cheap, and I doubled up on payments anyway.