Need Advice, "What would you do?"
Intermediate
Joined: Sep 2008
Posts: 25
Likes: 0
sell both of them or the truck first. get cheap truck that is paid off. if you sell the bike too and again start looking for a cheap ride. with no payments in a year you save enough to buy a cheap used out right. save sell and by another better. no payment or interest is moving up faster and nice to know it is yours. If you look for deals you can even make money while working up but not loose any.
Cruiser
Joined: Jan 2007
Posts: 163
Likes: 1
From:
Andrew,
You are spending $900x12 or $10,800 plus taxes, insurance and upkeep on two vehicles that at this time in life you don't need. That's big bucks and if you look at it from income point of view you will be giving yourself a big raise in pay, tax free. More than likely those two loans will keep you out of the mortgage market because they will really effect your liability ratio. Banks are getting tighter on who they give money to. Those two expenses just might cover 90% mortgage payment and taxes & insurances on your home. It will like your getting it for free. You sound like you got your head together so don't let a motorcycle and a new truck be the deciding point on your future. The last thing you need with a new wife and home expenses is pressure to make payments on those two vehicles.
I remember how hard it was back in 1980 when I sold my 78FXS when I got married. That $125 a month paid the food bill. I have have never regretted selling that bike and really didn't miss it that much. Had $23.17 in my checking account after I walked out of the laywers office with my first house. After 30 years,same wife,two kids,one grandkid, third house, three cars, one Ultra and a class A RV. Everything worked out just fine.
You are spending $900x12 or $10,800 plus taxes, insurance and upkeep on two vehicles that at this time in life you don't need. That's big bucks and if you look at it from income point of view you will be giving yourself a big raise in pay, tax free. More than likely those two loans will keep you out of the mortgage market because they will really effect your liability ratio. Banks are getting tighter on who they give money to. Those two expenses just might cover 90% mortgage payment and taxes & insurances on your home. It will like your getting it for free. You sound like you got your head together so don't let a motorcycle and a new truck be the deciding point on your future. The last thing you need with a new wife and home expenses is pressure to make payments on those two vehicles.
I remember how hard it was back in 1980 when I sold my 78FXS when I got married. That $125 a month paid the food bill. I have have never regretted selling that bike and really didn't miss it that much. Had $23.17 in my checking account after I walked out of the laywers office with my first house. After 30 years,same wife,two kids,one grandkid, third house, three cars, one Ultra and a class A RV. Everything worked out just fine.
Outstanding HDF Member
Joined: Jul 2006
Posts: 2,380
Likes: 9
From: Texas
My answer below assumes that you are with the right girl, since you and your girl have been together for five years, and since she obviously gets along with your mother or one of them would be dead by now.
Here's what you do:
1. Sell the bike and bank any cash you get. If all you get is to get rid of the note, sell it anyway.
2. Sell the truck too, and get a cheaper one. You can get a perfectly fine truck for half that much. Here again, bank any cash proceeds from the sale. Don't blow it on a celebration or a vacation.
3. Begin looking for your own place, and make sure it is one you can afford.
At your age and in your financial condition, you have no business with two expensive vehicles. These are both too expensive for someone who is still living with his parents, with his girlfriend.
You say you want to start your life together with your girlfriend as your wife, in your own house. It will be all you can manage financially to do that; right now, your vehicles should be cheap ones to allow financial room for what you say you really want to do.
Your approach should be this: Tell your girlfriend you plan to do 1., 2., and 3. above, and see what she says. If she agrees, you have your answer, and you will both me much happier this time next year. There is always time for nice trucks and motorcycles after you get your basic life in order, the way you say you want it.
I am three times as old as you, and I have dealt with exactly the decision you are facing, many times. My wife and I love our Harleys, but there were times when motorcycles and expensive trucks were not right for us, because we wanted to concentrate on taking care of our boys. There is no way on God's green Earth that we would go back and give up our emphasis on family in exchange for having a nice truck and a bike, at any age.
First, become a happily married family man in your own home, as you say you want to do, then look for the time when expensive vehicles become appropriate.
If you or your girlfriend can't bring yourself to get rid of these vehicles, then you also have your answer; it's just a different one. That would tell you that what you truly want is to live for the fun of today, without making commitments. That would be fine, but it's not what you said you want.
Your girl's response to this plan will tell you everything you need to know.
Good luck; I know it's not easy.
Here's what you do:
1. Sell the bike and bank any cash you get. If all you get is to get rid of the note, sell it anyway.
2. Sell the truck too, and get a cheaper one. You can get a perfectly fine truck for half that much. Here again, bank any cash proceeds from the sale. Don't blow it on a celebration or a vacation.
3. Begin looking for your own place, and make sure it is one you can afford.
At your age and in your financial condition, you have no business with two expensive vehicles. These are both too expensive for someone who is still living with his parents, with his girlfriend.
You say you want to start your life together with your girlfriend as your wife, in your own house. It will be all you can manage financially to do that; right now, your vehicles should be cheap ones to allow financial room for what you say you really want to do.
Your approach should be this: Tell your girlfriend you plan to do 1., 2., and 3. above, and see what she says. If she agrees, you have your answer, and you will both me much happier this time next year. There is always time for nice trucks and motorcycles after you get your basic life in order, the way you say you want it.
I am three times as old as you, and I have dealt with exactly the decision you are facing, many times. My wife and I love our Harleys, but there were times when motorcycles and expensive trucks were not right for us, because we wanted to concentrate on taking care of our boys. There is no way on God's green Earth that we would go back and give up our emphasis on family in exchange for having a nice truck and a bike, at any age.
First, become a happily married family man in your own home, as you say you want to do, then look for the time when expensive vehicles become appropriate.
If you or your girlfriend can't bring yourself to get rid of these vehicles, then you also have your answer; it's just a different one. That would tell you that what you truly want is to live for the fun of today, without making commitments. That would be fine, but it's not what you said you want.
Your girl's response to this plan will tell you everything you need to know.
Good luck; I know it's not easy.
Get the important things in your life in order before you go after the toys, they will come and you will enjoy them more when they do. Live within your financial means now, 30 years from now you will be grateful you did.
Road Captain
Joined: Feb 2009
Posts: 595
Likes: 6
From: Detroit, MI
I'm 31 so I was in your shoes what seemed like 3-4 years ago, so from what I have been through I would say sell the truck get a beater, live at home, ditch the girl and enjoy your bike. The way things go for us 20-32yo. is that if you get married young you will be divorced before you are 30yo. (also known as a starter marriage) and then you will be fighting with you ex-wife over the kids and dealing with your new girls babys daddy. Don't do it until you say 28-32yo. You have too much ahead of you to get trapped at your age.
Outstanding HDF Member
Joined: Feb 2008
Posts: 2,908
Likes: 2
From: Southeast Wisconsin
I'm 21 live with my girlfriend and we have a son together. Trust me, it isn't easy. Me personally, I drive beaters (though my truck now isn't a beater) so I can have my Harley, it's the choice I made. We both work hard and are lucky to have jobs that aren't going there and I have a job that pays pretty well, especially at 21.
I guess if it were me, I'd get rid of the truck and get a cheap one and keep the bike.
I guess if it were me, I'd get rid of the truck and get a cheap one and keep the bike.
Tourer
Joined: Oct 2008
Posts: 340
Likes: 26
From: South Texas
My advice - take it or leave it.
NEVER come to a Harley Davidson Motorcycle forum for life changing decisions / advice!!!
Ask about oil, half finger gloves, assless chaps, paint, chrome polish but NOT what to keep or sell...
Just my thought.
NEVER come to a Harley Davidson Motorcycle forum for life changing decisions / advice!!!
Ask about oil, half finger gloves, assless chaps, paint, chrome polish but NOT what to keep or sell...
Just my thought.
Outstanding HDF Member
Joined: May 2007
Posts: 2,882
Likes: 1
From: NC
Seriously consider joining the military. As a couple already said..it could be the answer to your problems and serving your country ain't all that bad. If I was younger my ***'d be back in in a heartbeat.
Advanced
Joined: Jun 2009
Posts: 51
Likes: 0
From: Raeford, NC
First off, I would not buy a house with just a girlfriend. There are no guarantees in this world and over 50% of marriages end in divorce already. If I were going to buy a house though, I would sell the truck, ride the bike more (saves money on gas), and buy a cheap beater for those un-rideable days.
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Outstanding HDF Member
Joined: Jun 2007
Posts: 2,649
Likes: 2
From: x
Ditto the above, you're living on your mom's dime and trying to buy a house? Also girlfriends are not life partners so quit trying to play house and have it both ways. I'd love to know who would give you credit for either one of your vehicles but they did you no favors--not with your low paying job. All this is self-inflicted and you need to either quit worrying about the house purchase (girl friend's idea?) or dump the debt and get 'er done. Get your act together asap or you will end up swimming in the shallow end of the pool for the rest of your life. There are 21 year olds that are more than ready for homeownership, it would appear you are not one of them. Didn't really mean to be quite so harsh but, damn!
Road Captain
Joined: Feb 2009
Posts: 595
Likes: 6
From: Detroit, MI
One thing I forgot to mention, NEVER I mean NEVER buy a house with a girlfriend.
Please learn from my mistake, I had to remortgage the house to get here name off it and at the time the interest went up at the time so not only did I have a higher payment but I had to make the whole payment by myself. Make sure if you buy a house make sure it is in your name only and that you can afford it by yourself.
Please learn from my mistake, I had to remortgage the house to get here name off it and at the time the interest went up at the time so not only did I have a higher payment but I had to make the whole payment by myself. Make sure if you buy a house make sure it is in your name only and that you can afford it by yourself.