how do you guys do it ??? - Sportbike Forum: Sportbike Motorcycle Forums
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post #1 of 21 (permalink) Old 07-04-2004, 06:30 PM Thread Starter
 
Join Date: May 2004
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Question how do you guys do it ???

how do you guys afford your bikes.now i kno for some it as easy as your out of school and have your steady job so its really no prob (actualy seeing some kids in high school on her that say they have bikes?).im a college student and have been saving up for about 2 years now.last year i had to buy my car so i only had only 1000 at the start of this summer from my savings torward a bike.by the end of this summer ill have about 3000.it seems like i just have to keep pushin my date back to when ill be able to get one(now im lookin torwards dec and 05 jan when the prices drop a lil cuz of winter).i just estimated how much my gear would cost and figure ill spend around 2000 on gear so that 3 is now back down to 1 not includin tax and insurance.i was workin 2 jobs at the beggining of this summer but had to quit one cuz i wasnt getting the hours i wanted cuz the schedules was connflicting (only to find out a week later when i go to pick up my check if i stayed i would have been made manager cuz he is leaving and since i was the first person he hired i would have took his spot.410 a week and thats not includin commision .now only makin 250 a week)i know some of you guys are in my position.im just curious to how you guys can afford them.im thinkin of takin out a personal loan once i get back to school and pick up a job so ill know i can pay the payments.is this a good idea.im lookin into askin for around 5000 financed over 60 months.that plus my 3000 plus a little more from workin down at school (when i go back) should be enough to get me one im thinkin.i have no other bills to pay.and actualy want to take out a loan so i can start building my credit.thought about buying new so i could finance but upon advice, am going used.im kinda nervous bout takin out a loan just cuz iv neva really payed for anything on my own before (except car witch was only givin my peeps the money so they could put up the rest) and just nervous bout the whole thing you know.am i makin too much out of this.should i just go to a credit union apply and get it over with once im at school and have a steady part time job?just tired of seeing you guys everywere i go being in envy and sayin "damn i cant wait to get mine".

also what is the most i can get from a credit union on a personal loan.i dont want more than 7k but am hopping i get approved for at least 4k.i have decent credit (a couple of credit cards that i just got my limit increased on).what kind of apr am i lookin at.i here some up in the 13% and some as low as 4%
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post #2 of 21 (permalink) Old 07-04-2004, 09:36 PM
 
Join Date: Apr 2004
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Simple, don't buy the flashiest bike there is.... I picked up this F4i for $4500 because it's got some rashes and a dent in the tank, but it works great and is a hell of a lot of fun to ride. You can get even better deals than that sometimes on a pretty nice ride.

Most of the guys here are probably older than us, more along the lines of 25+ with a steady job, where they have no wife or girlfriend and no kids to feed, just a bike to keep them company. . Just kidding.

Seriously though, motorcycle payments on a used bike would probably be fairly cheap.

Or, if worse comes to worse, wait till you're done with college with a steady job.
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post #3 of 21 (permalink) Old 07-04-2004, 10:02 PM
 
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i have the same problem. I am in college and can't afford a bike, well I could if I didn't have my truck but living in wisconsin a vehicle to drive in the winter months is crucial. Anyways I also pull in about 250 a week I can afford a cheap bike but I can't afford the insurance its fricken outrageous. Check out how much insurance will be before you decide to buy cause if you don't you could get screwed.
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post #4 of 21 (permalink) Old 07-04-2004, 11:06 PM
 
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I'm 25, in college and make about 400/week.
Guess what? I can still afford a flashy bike, 1000RR, rent and I'm considering buying a new truck to the tune of $15,000.
Its pretty easy really.
Planning and budgeting is the biggest part, follow that with a scholarship that pays for school (thats it mind you) and stay single.

BTW...I also contribute to my IRAs and put $ into savings not to mention I'm already 6 months ahead on bike payments.

Just have to find where you waste your money and cut that.
I dont live cheap as far as past times go either.

Last edited by vigis; 07-04-2004 at 11:09 PM.
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post #5 of 21 (permalink) Old 07-05-2004, 06:07 AM
 
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21 yrs old.. pretty eazy just cut down on the other expenses and go for the bike.. Ive got a house payment and thats it.. Just pay cash for everything..

Quote:
I picked up this F4i for $4500 because it's got some rashes and a dent in the tank, but it works great and is a hell of a lot of fun to ride. You can get even better deals than that sometimes on a pretty nice ride.
Sounds like ya got a lil screwed in my opinion.. I bout my 01 f4i with 1800 miles on it for $5000 from a guy.. I looked and looked and looked.. thats the only way to shop! Put 7000 miles on it and bout grand worth of upgrades and turned around and traded it in for $4700.. Turned around and bought the 02 954 with 2700 miles on it for $6400 out the door.. Just depends on how much people wanna deal and if they got a kid on the way or such and such.. Shop around and you'll find somethin. .Starvin is a good way to save up..
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post #6 of 21 (permalink) Old 07-05-2004, 06:53 AM
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Everyone is talking about budgeting... I just sell my body for sex. I'm just kidding. Everyone has nailed it on the head. Buy a used bike. I have looked at cycle trader recently and have seen MANY f4's and f4i's for sale anywhere around the $4500-$5500 range. I got a "living expenses" loan so I could buy the bike and not have to put full coverage on it because I couldn't afford the extra $3000 a year. Yeah I have a little bit higher interest rate of 9.5%, but after you compare the extra percentage to the cost of having to buy full coverage insurance, it comes out to be quite cheaper!

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post #7 of 21 (permalink) Old 07-05-2004, 06:54 AM
 
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I have a steady job and went the less expensive route. $2300 for a 2003 Ninja 250 with 2700 miles in perfect condition. Spent about $600 on gear. Less than 3k to get me started.
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post #8 of 21 (permalink) Old 07-05-2004, 07:10 AM
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post #9 of 21 (permalink) Old 07-05-2004, 11:04 AM
 
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Quote:
Originally posted by docta_freeze
Sounds like ya got a lil screwed in my opinion.. I bout my 01 f4i with 1800 miles on it for $5000 from a guy.. I looked and looked and looked.. thats the only way to shop! Put 7000 miles on it and bout grand worth of upgrades and turned around and traded it in for $4700.. Turned around and bought the 02 954 with 2700 miles on it for $6400 out the door.. Just depends on how much people wanna deal and if they got a kid on the way or such and such.. Shop around and you'll find somethin. .Starvin is a good way to save up..
I couldn't find any cheaper than that... I live in SoCal so it seems like everything is more expensive!
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post #10 of 21 (permalink) Old 07-05-2004, 12:18 PM
 
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I'm 37, have been at the same job for almost 19 years and make a very comfortable living. If you weren't born with a silver spoon in your mouth or mom and dad aren't otherwise footing the bill, you just have to get your priorities in order. "Do I eat this week or make my bike payment?"
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