Advice Needed - Personal Loans to fund Next Bike purchase.

[Danus24]

Its just very tempting. Rode a S-Works HT 29er and it was amazing. I've ridden quite a few other carbon HT's and nothing came close in my oppinion. Is S-Works HT Not worth the R30k? Wouldn't it, being aTop end Carbon HT keep some semblance of the orginal value later on?

[Slowbee]

This changes things a bit - you need to save rather. Then again you are staff, so your rates should be extremely low.

 

You need to go an calculate how much the interest charges, admin fees etc will be if you could pay that off in 6 months.

 

Is it going to be worth paying R33k for a R30k bike? Instead of saving and paying less when it get to that stage.

 

EDIT - Read you were staff, sorry, so ignore the low rates comment.

 

And do not forget to add the insurance on. If it breaks while you are paying it off you will be unhappy. And the costs of service, as I am sure their will be a clause that the bikes needs to be serviced at a reputable dealer.

[Carmichael]

See how much moolas you have in hand to spend on a bike and buy a bike in that range.. Be it second hand or new. I started out with a R1500 bike.

[Cippo]

I'm putting a bike together piece by piece and yes its taking time but I have a perfectly good working bike to last me. Are you just buying on impulse or do you really need it right now. Nice thing of putting something together is you get to choose exactly what you want without having to upgrade later on if you had bought a stock bike off the floor.

[jcza]

Question:

 

How much are you planning to spend at the 94.7 expo?

 

Answer:

 

Nothing

 

No no no really - how much are you going to spend??

[SyncSA]

Its just very tempting. Rode a S-Works HT 29er and it was amazing. I've ridden quite a few other carbon HT's and nothing came close in my oppinion. Is S-Works HT Not worth the R30k? Wouldn't it, being aTop end Carbon HT keep some semblance of the orginal value later on?

 

It might be worth it, but remember you wont be paying R30k for it if you finance it.

[Eddy Gordo]

@Danus PM sent

[Showtime]

Its just very tempting. Rode a S-Works HT 29er and it was amazing. I've ridden quite a few other carbon HT's and nothing came close in my oppinion. Is S-Works HT Not worth the R30k? Wouldn't it, being aTop end Carbon HT keep some semblance of the orginal value later on?

 

It definitely won't keep it's value better being a top end carbon HT.

 

People always want the latest stuff and the cycling industry makes double sure there is enough new tech every 2 years for even the current top of the range bike to be outdated then. I'd rather have a 2013 alu bike with a shadow plus derailleur, through axels front and rear with new style Shimano brakes than a 2010 carbon bike with Juicy Ultimates or something.

[Zook]

Its just very tempting. Rode a S-Works HT 29er and it was amazing. I've ridden quite a few other carbon HT's and nothing came close in my oppinion. Is S-Works HT Not worth the R30k? Wouldn't it, being aTop end Carbon HT keep some semblance of the orginal value later on?

 

What I did once was give myself a goal - if I hit X weight and I felt I was being limited by the bike, then I'd upgrade. (Then again, a lady friend went to tri worlds and did many full Ironman events on her aluminium non-tri bike. She's upgraded since, but was pretty damned impressive on the old one!)

 

Still bought cash though - just less stress that way.

Edited November 8, 2012 by Zook

[Minion]

Wouldn't it, being aTop end Carbon HT keep some semblance of the orginal value later on?

Unfortunately not. Look at the classifieds section. It's extremely rare for someone to get more than 50% of the initial value when selling second hand. This is especially true for carbon MTBs since buyer are weary of potential issues with second hand carbon frames.

[Garfield2010]

Hey Hubbers,

 

Considering taking the plunge and taking out a loan to fund my next purchase. 2011 Spez S-Works HT - Plus minus - R30K

 

Any words of wisdom or recommendations?

 

I didnt read the whole thread but there is my advice:-

 

1.) Insurance is key. Full insurance which even covers crashing as you dont want to "write off" the bike and then still owe R30k

2.) Do a cash flow. Whilst most people will say it is a bad idea..... sometimes you will find that by buying this bike and riding it, you will save a lot of money on entertainment costs etc as you will now go to bed early on Fridays as an example. This might even cover your installment

3.) I recomend you repay it within 3 years or less

4.) Sell your current bike for a good price and use this as a deposit

5.) Other than that go for it and enjoy it man. Most banks have revolving credit loans. Stay away from credit cards as the rates are crazy.

[patches]

Its just very tempting. Rode a S-Works HT 29er and it was amazing. I've ridden quite a few other carbon HT's and nothing came close in my oppinion. Is S-Works HT Not worth the R30k? Wouldn't it, being aTop end Carbon HT keep some semblance of the orginal value later on?

 

ok, ok... I take back my 3 series comparison. That was meant for the regular Spesh Epic 29er (as well as Trek Super Flies, Anthem 29ers and Scott Sparks)...

 

The S-works is more like a 7 series. Sure it's nice, but for that money you can have something unique and awesome (like a Maserrati). And when it comes to resale... it'll get hammered just like the 7 series, whereas the Maseratti (ie. more boutique bike brand) won't devalue as much.

Edited November 8, 2012 by patches

[DIRT EATER KZN]

Hey Hubbers,

 

Considering taking the plunge and taking out a loan to fund my next purchase. 2011 Spez S-Works HT - Plus minus - R30K

 

Any words of wisdom or recommendations?

i read the first 2 comments and decided take the loan buy the bike enjoy the bike you live once if you are not going to go hungry then do it i did it i wasnt happy doing it still get depressed when i make the payment but then i go home and ride the *** out of my babys and feel like a million bucks every month we pay thousands of rands to medical aids incase we get sick the way i see it i invest R1000 a month into staying healthy this is bare bones comment i know there are more factors to consider my 2 cents

[Let's Ride]

Go ahead.

 

The banks need to make their money and it seems like you are set on buying the bike and just looking for reaffirmation.

 

People buy the fanciest cars on credit and those cars don't always hold their value very well so this would effectively be the same.

 

Personally I wouldn't buy a fancy car or a bike on credit as I enjoy the small things in life. I work my ass of working on the weekends, one 8 - 5 job as well as my own business that I do after hours so I spend my money very wisely. (My parent's also go by this motto, everything they buy is cash, when they had a bond on the house they put all their money into the bond and paid it off asap, no overseas trips till it was paid for).

Edited November 8, 2012 by Let's Ride

[Minion]

i read the first 2 comments and decided take the loan buy the bike enjoy the bike you live once if you are not going to go hungry then do it i did it i wasnt happy doing it still get depressed when i make the payment but then i go home and ride the *** out of my babys and feel like a million bucks every month we pay thousands of rands to medical aids incase we get sick the way i see it i invest R1000 a month into staying healthy this is bare bones comment i know there are more factors to consider my 2 cents

Wow, I'd hate to be in your position where the debt is so bad that you can't even afford punctuation...

[pista]

i read the first 2 comments and decided take the loan buy the bike enjoy the bike you live once if you are not going to go hungry then do it i did it i wasnt happy doing it still get depressed when i make the payment but then i go home and ride the *** out of my babys and feel like a million bucks every month we pay thousands of rands to medical aids incase we get sick the way i see it i invest R1000 a month into staying healthy this is bare bones comment i know there are more factors to consider my 2 cents

 

You should have taken the loan for a phone that has punctuation keys