To payment or not??
Grand HDF Member
Joined: Mar 2013
Posts: 4,922
Likes: 589
From: Running with the gators
Or do what I do, if you finance, next time your slowing down for Mc Donalds say nope, Im going to put that $15.00 towards my payment. My 2013 Heritage I bought new in March and already have paid $4,000 towards the payments. Should have it paid for by the end of the year. If you only pay minimum you'll pay more for the loan.
Outstanding HDF Member
Joined: Aug 2012
Posts: 2,130
Likes: 0
From: Tampa
You got a badass LowRider there, and an Evo to boot (better motor than a Twin Cam, some say) Keep that righteous sled, no payments, and stay outta dealerships.
Here are some of Dickey's rules for buying bikes:
Never buy used from a dealership, & Never buy anything that does not have a totally stock motor, stage 1 excluded.
Here are some of Dickey's rules for buying bikes:
Never buy used from a dealership, & Never buy anything that does not have a totally stock motor, stage 1 excluded.
Tourer
Joined: Jul 2007
Posts: 430
Likes: 5
From: Massachusetts
nothing wrong with monthly payments as long as you can afford them. Heck not everybody can pay cash for a bike or car. those who can great for you. i usually take A 5 year loan and apply extra money as I can. to date I have paid all my loans 2 years early.
Road Warrior
Joined: Aug 2010
Posts: 1,807
Likes: 7
When it comes to cars, payments are fine. I just paid off my 2010 Acura TSX, but just bought my wife a 2013 MDX....so i have payments again. Cars are generally alot more expensive then bikes.....but for me, when it comes to bikes/toys, If I cant buy them payment free, I wait until I can. I have a tight grip on reality when it comes to my finances....which is why I'm stating to get a toy here and there in my mid 30s. When I was in my 20's m friends had boats, bikes, vettes, mustangs...ect.... I had my car and that was it. Now I have my CVO Breakout...payment free.
Cliff notes: Do what you can afford....you know your limits!
Cliff notes: Do what you can afford....you know your limits!
Road Master
Joined: Nov 2010
Posts: 901
Likes: 5
From: Springfield, MO
The questions to ask are: What are they asking for the bike, what is it worth, and what will they take?
Unlike some in the "payments are for suckers" crowd, the truth is a vehicle/motorcycle loan, with payments made ON TIME EVERY TIME, can go a long way to reestablishing damaged credit.
But don't make an emotional decision... be smart.
Road Master
Joined: May 2011
Posts: 774
Likes: 2
From: S.E. Montana
My guess is your credit score wasn't steller...that ment a jacked up interest rate. You shouldn't be paying more then 8% in this economy for anything. Also, if your worried about the "payment"....again I'd guess you've stretched that note out a long way. Son, that is a recepiet for disaster. You'll be so upside down on that bike, you'll be stuck with it. What happens if it breaks down?? That payment that will have you stretched so thin won't stop. Miss a payment and be back in the pits of the credit world. You'll end up hating yourself and the bike.
Don't do it. Here's what you need to do.....go down to the bank, open a new savings account and from now on sink the payment you could have afforded into that nest egg. Ride what you got and be happy. In no time, you'll have enough $$$$ to shop around form a private party and find you a cherry garage queen somewhere.
Be smart.
Don't do it. Here's what you need to do.....go down to the bank, open a new savings account and from now on sink the payment you could have afforded into that nest egg. Ride what you got and be happy. In no time, you'll have enough $$$$ to shop around form a private party and find you a cherry garage queen somewhere.
Be smart.
Ultimate HDF Member
Joined: Aug 2012
Posts: 6,470
Likes: 4
From: on the road
My observation-----------------------you let the dealer do a hard pull on your credit which takes points off your score in the future.IF and THIS IS A BIG IF,if you can maintain the payments over the duration of the loan at least it would be positive credit info for something you enjoy instead of a high rent high risk credit card with a $500 limit.
I lived my life for years not financing toys but now that new and late model bikes are in the high teens I have changed my mind .I just financed my barely used 2012 street glide to keep more operating capital for my business.I bought it with less than 300 miles with a pickup load of extras for $4000 less than a new 2012 $2500 under book.So if hard times hit I would hope I could flip it back out and not pay much for the miles I have rode it and then craigslist the extras
I lived my life for years not financing toys but now that new and late model bikes are in the high teens I have changed my mind .I just financed my barely used 2012 street glide to keep more operating capital for my business.I bought it with less than 300 miles with a pickup load of extras for $4000 less than a new 2012 $2500 under book.So if hard times hit I would hope I could flip it back out and not pay much for the miles I have rode it and then craigslist the extras
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Road Master
Joined: May 2011
Posts: 774
Likes: 2
From: S.E. Montana
My observation-----------------------you let the dealer do a hard pull on your credit which takes points off your score in the future.IF and THIS IS A BIG IF,if you can maintain the payments over the duration of the loan at least it would be positive credit info for something you enjoy instead of a high rent high risk credit card with a $500 limit.
I lived my life for years not financing toys but now that new and late model bikes are in the high teens I have changed my mind .I just financed my barely used 2012 street glide to keep more operating capital for my business.I bought it with less than 300 miles with a pickup load of extras for $4000 less than a new 2012 $2500 under book.So if hard times hit I would hope I could flip it back out and not pay much for the miles I have rode it and then craigslist the extras
I lived my life for years not financing toys but now that new and late model bikes are in the high teens I have changed my mind .I just financed my barely used 2012 street glide to keep more operating capital for my business.I bought it with less than 300 miles with a pickup load of extras for $4000 less than a new 2012 $2500 under book.So if hard times hit I would hope I could flip it back out and not pay much for the miles I have rode it and then craigslist the extras
Were this a Goldwing forum, I would tell you to be resonpsible and save your money. Since it is not, I'm gonna say get the bike and enjoy it. Have fun. You could probably easily cut 50 from your current budget each month.