I am surprised that the extreme fiscally conscious members on here haven't chimed in to bash you about taking a loan out for a bike. You know those folks, the ones who say "If you can't buy it with cash, you can't afford it."
Congrats! One suggestion, if I may...forgive me if I overstep. You might consider keep paying the same amount every month, but to yourself, whether that be to a separate savings account, an investment account, a piggy bank, under a mattress or whatever. Adds up quick. You really won't feel it because you've already been doing it and it could be a nice nest egg or even a down payment on another sled if you want to go all rebel. ;-). Congrats again.
Last edited by Bopple Hill Rd; 03-14-2019 at 01:28 PM.
I am surprised that the extreme fiscally conscious members on here haven't chimed in to bash you about taking a loan out for a bike. You know those folks, the ones who say "If you can't buy it with cash, you can't afford it."
,
i'm not one of them, but wouldn't it be a little late now that he's paid it off?
Congrats! One suggestion, if I may...forgive me if I overstep. You might consider keep paying the same amount every month, but to yourself, whether that be to a separate savings account, an investment account, a piggy bank, under a mattress or whatever. Adds up quick. You really won't feel it because you've already been doing it and it could be a nice nest egg or even a down payment on another sled if you want to go all rebel. ;-). Congrats again.
I did that years ago when I financed a truck through my company credit union. I had the payment amount deducted from my paycheck every month. Once the truck was paid off I never stopped the deductions from my paycheck. I actually wound up doubling the withdrawal amount over a course of years. It made a great emergency fund which I used several times.
I bought my Street Bob new, with cash for the most part. But, last year we bought a 2008 Night Train for $9000.00 out the door. We will have it paid off next year, but,according to those folks, we never should have bought it even though is was my wife's dream bike, and they are hard to find.