M109 Rider Forums banner

Do you own your M109R outright, or are you making payments?

  • Make Payments

    Votes: 0 0.0%
1 - 20 of 67 Posts

·
Registered
Joined
·
817 Posts
Discussion Starter · #1 ·
Just curious as to what the ratio is on this. I've never financed a bike before. I'm wondering how common it is.
 

·
Registered
Joined
·
1,015 Posts
Considering how many lending options there are available, I would say fairly common.

Why not come out and say, "who has their finances under control enough to have $12K+ in the bank at any given time to spend on a new bike?"

I mean, think about this: if somebody could easily pay cash for a bike, why WOULD they finance it?
 

·
Registered
Joined
·
817 Posts
Discussion Starter · #3 ·
wildwolf said:
Why not come out and say, "who has their finances under control enough to have $12K+ in the bank at any given time to spend on a new bike?"
I didn't meant to imply anything like this. I certainly don't have that kind of scratch lying around either. But again, I've rarely owned more than one bike at a time, and I always have had a well-cared for bike to sell or trade.

If I ever found myself otherwise, I probably would finance if I had to.
 

·
Registered
Joined
·
450 Posts
Well so far 5 outta 10 have the scratch lying around!! Or they're making house payments on it and think they own it. I would never buy anything against my house unless it made me money.
 

·
Registered
Joined
·
817 Posts
Discussion Starter · #6 ·
jamiesM109R said:
Well so far 5 outta 10 have the scratch lying around!! Or they're making house payments on it and think they own it.Â
I would agree -- if you bought it with a home equity loan, that counts as financed. Just different collateral is all.
 

·
Registered
Joined
·
770 Posts
Had to finance due to new house payment and the wife being a tight wad,but most people I talk to finance :bigthumbsup:
 

·
Registered
Joined
·
3,501 Posts
Paid cash for it. :bigthumbsup:

Oh, and FWIW, I sold my 2004 BMW K1200Rs that I had paid cash for, used the proceeds from that sale to pay cash for this one. :p
 

·
Registered
Joined
·
1,015 Posts
lawdog said:
I financed my bike through "Mrs. Lawdog savings & loan"Â :D

I traded in my "paid for" C50 Boulevard and made up the difference from our savings.Â

lawdog
Wow...I would HATE to see your honey-do list....
 

·
Registered
Joined
·
686 Posts
jamiesM109R said:
Well so far 5 outta 10 have the scratch lying around!! Or they're making house payments on it and think they own it. I would never buy anything against my house unless it made me money.
There are a couple of different schools of thought on this. If the interest rate is nearly the same and you aren't stretching your finances to the limit, why not pay for it with an equity loan? It's the same amount of money either way, and the interest paid on your home loan should be tax deductible, so you will get some of the $$$ back that you are paying to the bank. If you are afraid you can't make the payments, just don't get the bike.

Just my thoughts there. If I'm thinking wrong, let me know. :)
 

·
Registered
Joined
·
126 Posts
paying cash tomorrow and keeping the VS800!! :hot:
 

·
Registered
Joined
·
253 Posts
I had my Busa financed for 4 years stuff that for a joke will never do that again I sold my Busa and threw the $3200 to make the difference on the 109 so this baby is all mine
 

·
Registered
Joined
·
450 Posts
rideutah said:
There are a couple of different schools of thought on this. If the interest rate is nearly the same and you aren't stretching your finances to the limit, why not pay for it with an equity loan? It's the same amount of money either way, and the interest paid on your home loan should be tax deductible, so you will get some of the $$$ back that you are paying to the bank. If you are afraid you can't make the payments, just don't get the bike.

Just my thoughts there. If I'm thinking wrong, let me know. :)
Damn i hate Math -
Exhibit A ) Purchased home in sept w/ 80/20. 20% home equity @ 8.50% = $200/mo interest only. Would get an additional $600 back on taxes. Subtotal = $1800 interest and no principal paid.

Exhibit B ) Transfered Home Eq. to credit card for 2.99% = $70.00 interest and $350 minimum payment. Subtotal = $840.00 interest and $3,360 principal paid.

Just had a minute to share that.
 

·
Registered
Joined
·
57 Posts
My wife wanted to buy me a harley for my birthday :bow:, but after riding the harley's and this dream machine at Bikeweek, I told her no, I wanted a Burple. Would you believe that she wouldn't give me the change? I just don't know what I'm going to do with this woman? I could use another 15 Grand.
 

·
Registered
Joined
·
450 Posts
J R said:
James, Your avatar best represents the way JR likes to do all his buisness
Agree, i hate waiting for lein cards. I love to buy, sell, trade, do whatever whenever!!
 
1 - 20 of 67 Posts
Top