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post #1 of 29 (permalink) Old 09-14-2005, 07:27 AM Thread Starter
 
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Buyers remorse

I think I have the usual case of buyers remorse. Few years back I rode an r6 for close to 2 years but it got to the point where I only rode it once or twice a month so I sold it. Now recently I've purchased an '05 GSX-R600. I havent been riding it THAT much, i've had it for a little over a week and i've got 160 miles on it. Bike was $8,499 + TTL + $999 for a 3yr full service warranty/maintenance contract which covers everything and unlimited oil changes.

I did put $2,000 down. Bad thing is, since I'm 20 and own a $35k car and in the last 6mo just bought a $160k house, my credit is extended pretty well. Only thing I qualified for was a 17.49% interest rate over 72mo. YIKES! It comes out to a little over $200/mo for 72mo.

I looked into insurance and most were quoting me $13,000/yr!!! Good thing my car insurance company (state farm) got it for me for $99/mo. So I am basically paying around $300/mo to have this bike and I am starting to have some buyers remorse. That $300/mo could be going to so many other things. I can afford the $300/mo but there are other things (paying off bills and such) that it could be going towards. Also, I just have not gotten used to riding again, I still feel fearful everytime I ride (which I know is kind of a good thing because I am more careful).

I have so much to lose if something was to happen to me and it would screw over a lot of people. I am getting married in march, I have a lot of clients that depend on me.... *sigh* ... When this whole hurricane thing happend and the gas prices went up, it gave me the extra push to buy it. I've been wanting one again for awhile but never could justify the cost or convince my fiance that I wouldn't kill myself on it. When gas prices went up she said it was okay if I wanted one and I tried to justify the cost by how much i've save on gas as well as the fact that my car is close to two years old and already has 40,000mi on it. I've only got another 10,000 miles of the full coverage warranty on it, I was hoping to save that as long as possible.

Now that I have the bike, I see how hard it is to actually use the bike as a vehicle and a sport hobby. I can't really ride it to work because traffic is horrible in the morning and I don't exactly want to wear full gear into work (I always wear full gear). I can't go run errands with it because for one, I don't exactly have anything I can carry things in. Also - I'd look like an astronaut!


Anyways - there is my rant and rave. I am not sure what I am expecting you guys to do for me, but I just thought I'd post and see if anyone has any advice.
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post #2 of 29 (permalink) Old 09-14-2005, 07:39 AM
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72 months?

DAMN!
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post #3 of 29 (permalink) Old 09-14-2005, 07:39 AM
 
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Well, look at it this way, what's the best point in life to be in the most debt?

Yup, when you're young!

IMHO, deal is done, go out and enjoy your stuff, maybe later on use any equity in your house to pay stuff off... Million ways to slice that pie, so I'm not even going to get into it!
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post #4 of 29 (permalink) Old 09-14-2005, 07:40 AM Thread Starter
 
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Quote:
Originally posted by duessel
72 months?

DAMN!
Tell me about it! I mean if it would have been different terms, I don't think I'd have such a bad case of buyers remorse.. lol... But at this rate i'll end up paying over $14,000 for the bike.
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post #5 of 29 (permalink) Old 09-14-2005, 07:46 AM
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When you make your bike payment, add an extra $10-20 onto what you are required to send. Doesn't sound like a lot, but after doing that for a little while, you will wind up "ahead" on your payments and will be paying on the principle only, no interest, and should see the balance begin to drop considerably.

I've got a big case of buyers remorse sitting in my garage, it's a Buell Blast! It's a 2002 with less than 300 miles on it and the dang thing was financed.

I don't know if TX has a "cooling off" period, where you can change your mind on a purchase such as a car or motorcycle, but you can also check into that.

CA didn't have one of those, dammitall.....

"I often wonder why I talk to you, then I realize, although you put me down, you do it with love." - Jester
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post #6 of 29 (permalink) Old 09-14-2005, 07:48 AM
 
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I know about buyers remorse, but never on purchasing a bike. I know alot of people who only own a bike, they commute daily,(rain or shine, sometimes snow) you have to adapt to being confine to the limit of the bike. As far as the gear, well Thats just part of it, When i ride my bike to work, I wear my Icon boots, wich look nice enough to work in, Jeans, Jacket, gloves and helmet. Wich leaves me just taking off a couple articles of clothing upon arrival to work.

As Far as buyers remose goes, i just purchased a $6000.00 Tool box

My old one still worked fine, was gettin cramped, so i upgraded, and $6000, was after my trade in allowance.
So i have been having buyers remorse, i keep saying WTF was i thinking, and if you wanna see an Extreme case of buyers remorce, Just ask my fiance about my new tool box!

Later
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post #7 of 29 (permalink) Old 09-14-2005, 07:48 AM
 
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Double up on the payments. I bought mine with a minimum paymenr of less than $50. I try to pay $500. There is no way I'm paying on a bike for more than 2 years, Hell by the time 1 year is over I'll be ready for another. Its just addicting.

As for gear, just remember, you dont look like an austranaut, you look like the power ranger. And all the women want you. If they thought you'd notice they would throw their bra's at you in traffic. Not that you would being about to be merried and all

I ride my bike pretty much year around, wether permiting. At work people have gotten accostomed to seing a pile of gear in the corner of my office. I managed to get some bike parking spaces made when the parking lot was getting repainted. As for errands, well you can carry quier abit on a bike. Not all the groceries, but a couple of six packs has been done. Or a few gallons of oil and filter... Still you do need a cage as backup..



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post #8 of 29 (permalink) Old 09-14-2005, 07:55 AM Thread Starter
 
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Quote:
Originally posted by spicerke
When you make your bike payment, add an extra $10-20 onto what you are required to send. Doesn't sound like a lot, but after doing that for a little while, you will wind up "ahead" on your payments and will be paying on the principle only, no interest, and should see the balance begin to drop considerably.

I've got a big case of buyers remorse sitting in my garage, it's a Buell Blast! It's a 2002 with less than 300 miles on it and the dang thing was financed.

I don't know if TX has a "cooling off" period, where you can change your mind on a purchase such as a car or motorcycle, but you can also check into that.

CA didn't have one of those, dammitall.....
It's a 3 day period but generally only applies to contracts signed in the consumers home and not at the vendors place of business.
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post #9 of 29 (permalink) Old 09-14-2005, 07:56 AM Thread Starter
 
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Quote:
Originally posted by izzybo69
I know about buyers remorse, but never on purchasing a bike. I know alot of people who only own a bike, they commute daily,(rain or shine, sometimes snow) you have to adapt to being confine to the limit of the bike. As far as the gear, well Thats just part of it, When i ride my bike to work, I wear my Icon boots, wich look nice enough to work in, Jeans, Jacket, gloves and helmet. Wich leaves me just taking off a couple articles of clothing upon arrival to work.

As Far as buyers remose goes, i just purchased a $6000.00 Tool box

My old one still worked fine, was gettin cramped, so i upgraded, and $6000, was after my trade in allowance.
So i have been having buyers remorse, i keep saying WTF was i thinking, and if you wanna see an Extreme case of buyers remorce, Just ask my fiance about my new tool box!

Later
So you don't wear safety pants?
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post #10 of 29 (permalink) Old 09-14-2005, 07:58 AM Thread Starter
 
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Quote:
Originally posted by Vash
Double up on the payments. I bought mine with a minimum paymenr of less than $50. I try to pay $500. There is no way I'm paying on a bike for more than 2 years, Hell by the time 1 year is over I'll be ready for another. Its just addicting.

As for gear, just remember, you dont look like an austranaut, you look like the power ranger. And all the women want you. If they thought you'd notice they would throw their bra's at you in traffic. Not that you would being about to be merried and all

I ride my bike pretty much year around, wether permiting. At work people have gotten accostomed to seing a pile of gear in the corner of my office. I managed to get some bike parking spaces made when the parking lot was getting repainted. As for errands, well you can carry quier abit on a bike. Not all the groceries, but a couple of six packs has been done. Or a few gallons of oil and filter... Still you do need a cage as backup..
I noticed when I was in Target buying a backpack to carry my laptop in when I ride to work (not sure if thats the best idea.. but I have to take it somehow) everyone looked at me strange because I was carrying a helmet.. lol...

Not sure how you manage to carry a couple of six packs...
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