I need some advice. I have nearly saved enough money to pick up an F4i, but I'm a bit torn. On one hand, I could use the money to pay off some debt (at least one credit card). The bitch is, between credit cards and student loans, my wife and I are probably 40k in the hole, so $4,000 barely makes a dent! If I start paying now though, I will be able to get rid of this debt earlier. Dammit I don't think I want to give up having a bike. I don't get a chance to ride much any more, but it's an always awesome feeling when I can.

If the parts from my old f2 sold faster, I probably would have picked up another bike right away, but it seems like no one has been interested in the last month. Is thismostly because of the weather, or what? Check out my thread:

https://cbrforum.com/m_418738/tm.htm

...are my prices too high?

Anyway, this situation sucks all around. What do I do?

 

i LOVE my bike...but im not responsible for any big payments like a house, car, student loans,etc etc...but if i were, id much rather be looking at 36k than 40k...every little bit helps...you have to do whats best for you and your wife...i cant even begin to imagine what its gotta be like to give up a bike, but perhaps one will come along later after you've lowered that debt a bit?

 

Do what you have to, but if you can pay cash for a bike-it's the way to go. I paid cash for my bike so that one less payment to worry about. I'm not is debt like you are so it's hard to say what I would do in your situation. I do know that I love my bike and when this one goes I will get another ASAP!

 

sorry dude but you should pay off ur debt....at minimum the credit cards..... i bet your interest on it is at least 18%

 

Paying bills is real important, so I can't blame you if that's the route you take... however, OWNING a bike does more than just make it something you enjoy. A paid off vehicle is worth collateral, it could be re-sold later if you just HAD to have the money, and until that point, it's cheap transportation that you don't pay any bills on and you own it free and clear. To me, it means alot more when I can say "This is MY <whatever>".

Oh, and for me, after I pay a big bill off like that I something always seems to pop up and I rack some money back on whatever it was that I just paid off... it's very annoying.

 

vehicles are THE worst investment.....depreciates like nobody's business.... so it's by far the worse collateral one can obtain.

 

Somewhat true. While this is very much true of the "buying new" department, buying used isn't always the case. There's been many occasions where, if you're patient and wait for a good deal to come along, that several people on this forum, myself included, that you can purchase a good used vehicle, in this case a bike, get plenty of enjoyment and riding out of it, then flip it later for all the money you bought it for, sometimes a little less, sometimes a little more. It's all based on the deal you got when you bought it. But, that being said, if the focus is on the bike as a "financial" investment, then you took everything I said wrong. A bike, or another vehicle for that matter, may not be any sort of "high yield return" monetary investment, but MOST everyone here understands that a bike isn't about how much it costs.... it's about what it MEANS. The freedom, the joy, the soothing sounds, whatever. Everyone has their own thing. Add that level of enjoyment with the relatively cheap operating costs (especially with todays high-gas prices), reliable transportation, and use as collateral (which, since it's a monetary "investment" worth, I'll interject here that it's not how much the bank or loan officer will loan against it that I mean, but the fact that any time you OWN something, you CAN use it as leverage if need be). Just my .02.

 

Well, since your in such financial trouble, I'd pick the loan refinancing route. Get your bills under one note with a feasible payment plan and then save up for the bike. Pretty ****ty situation, but the bike is only going to keep adding costs on top of your current bills with upkeep…tires, synthetic oil... and so on.

I hate to pick at a fresh scab, buy why didn’t you just repair your F2?

 

oweing sux but BUY THE BIKE. The bills will always be there. Riding makes you happy n less stressed. I'll be bikeless when they pry my dead fingers from my bikes grips.

 

hard to say...but I would personally start paying off the bills before the bike. The cost of any repairs, upgrades, insurance, etc. are only going to take money away from paying off the debt.