davetapson Posted April 7, 2014 Share I hear all the 'save for your bike' arguments, and, if you are single or married without kids, this may be the way to go. I don't have that kind of discretionary 'saving power' so bought my first bike in 2007 (GT iDrive full sus mtb) for R21k - which in those days, for me, was a stupid amount of money - but the bike was spec'd at very good value for money. I paid with a credit card, and probably took a couple of years to pay it off. My cc's have very low rates of interest - about same as a bond, so I didn't stress about finding a better deal. I still ride that bike (two iDrive and one GT Sensor frame later!) Have I ever regretted spending the 'interest cost' that allowed me to ride for years before I would have saved R20k (which would have become R30k anyway)? No. Best money I ever spent. Would do it again in a heart beat. I also don't see how buying two 'cheap' bikes on the way to buying the 'expensive' bike is saving money. My experience of buying second hand bikes is that they cost. And once you have spent the money to replace all that needed replacing, you still have a second hand bike. And in any case, what is the cheapest way to buy new components? On a new bike. So, I'm not saying 'cool, go and spend ridiculous amounts on a bike and finance it at 30%'. But what I am saying, is consider what you are doing, consider what the finance will cost you, and go with it. If someone wants to finance a bike for you at 10%, and inflation is running at 10%, you're not exactly far out of pocket. Don't come back with the 'Ja but what about the R1k for this and the 10c' for that... nothing comes for free. Just be aware of what you are paying and decide. Edited April 7, 2014 by davetapson StevieL, Theodore, dee_biker and 1 other 4 Link to comment Share on other sites More sharing options...
Ros Kelly Posted April 7, 2014 Share I saw this for the first time in Mikes Bikes the other day and I'm very interested so nice to see here that they are a real company especially after the Cycle Science scam. That Momsen Vipa looks like a very pretty bike and the repayments are quite reasonable. Hmmmmm I'm very tempted!! Link to comment Share on other sites More sharing options...
davetapson Posted April 7, 2014 Share And don't capitalise any incidental costs - pay those up front. Steven Knoetze (sk27) 1 Link to comment Share on other sites More sharing options...
Ros Kelly Posted April 7, 2014 Share And don't capitalise any incidental costs - pay those up front. Sorry if this sounds dumb but what are incidental costs? Link to comment Share on other sites More sharing options...
Steven Knoetze (sk27) Posted April 7, 2014 Share Could somebody maybe explain the R2000 service/workshop charge if I wanted to finance a R13000 frame?Doesn't make sense to me. Link to comment Share on other sites More sharing options...
Steven Knoetze (sk27) Posted April 7, 2014 Share Sorry if this sounds dumb but what are incidental costs? Helmet, clothing, etc Link to comment Share on other sites More sharing options...
Stretch Posted April 7, 2014 Share @Davetapson I really disagree with you. I bought my current bike second hand 2 years ago. I Paid 17k with full xx. I have put over 6000km on that bike and had to replace the following drivetrain (only after myself adding on 4000km) Pivot bearings (a few days ago)all the rest are servicing items such as fork service, shock service, cables etc I cant see myself needing a new bike for at least the next 3 or 4 years Would I feel better riding a brand new 45k pyga or something...maybe psychologically - but really i would feel much better having saved myself 20k and not be in debt hayleyearth and davetapson 2 Link to comment Share on other sites More sharing options...
Devlin Fogg Posted April 7, 2014 Share Could somebody maybe explain the R2000 service/workshop charge if I wanted to finance a R13000 frame?Doesn't make sense to me.Hi Steven. Thanks for the question regarding the service package on the frame. We would obviously be able to waive this for you, so no, you dont need to take the service package if you are buying only a frame. You are welcome to contact my team on finance@bikelife.co.za for me info.CheersDevlin FoggMD- Bike Life Finance Link to comment Share on other sites More sharing options...
davetapson Posted April 7, 2014 Share And don't capitalize any costs that you Hi Steven. Thanks for the question regarding the service package on the frame. We would obviously be able to waive this for you, so no, you dont need to take the service package if you are buying only a frame.You are welcome to contact my team on finance@bikelife.co.za for me info.CheersDevlin FoggMD- Bike Life Finance That kind of incidental cost. Plus like the guy said, don't include helmet, shoes etc. @Davetapson I really disagree with you. I bought my current bike second hand 2 years ago. I Paid 17k with full xx. I have put over 6000km on that bike and had to replace the following drivetrain (only after myself adding on 4000km)Pivot bearings (a few days ago)all the rest are servicing items such as fork service, shock service, cables etc I cant see myself needing a new bike for at least the next 3 or 4 years Would I feel better riding a brand new 45k pyga or something...maybe psychologically - but really i would feel much better having saved myself 20k and not be in debt Fair enough. Could have gone the other way tho (if not for you, for someone else buying a second-hand bike). You can't really extrapolate a single case into a generalization. There is an element of risk in buying second hand, and it may cost. One hopes that it doesn't, but it can. And then you still need to buy another bike. My concern with second hand (apart from consumables) is the frame. I've been through 3 frames - they've replaced them under guarantee which they had to as I was the original owner. We bought my boet a second hand bike and the frame on that cracked - they replaced it free which was surprising, but if they hadn't, then it would have been a pretty bitter pill. Plus the fork is worn - he didn't get the first couple of years out of that, so now is faced with buying a new fork for a worn bike. It's not as simple as one would like to believe. Another anecdote - I bought some second hand xtr rims that looked ok. Turned out to to be toast. Complete waste of money. Sometimes you win, sometimes you lose... Theodore and StevieL 2 Link to comment Share on other sites More sharing options...
Steven Knoetze (sk27) Posted April 7, 2014 Share @Davetapson I really disagree with you. I bought my current bike second hand 2 years ago. I Paid 17k with full xx. I have put over 6000km on that bike and had to replace the following drivetrain (only after myself adding on 4000km)Pivot bearings (a few days ago)all the rest are servicing items such as fork service, shock service, cables etc I cant see myself needing a new bike for at least the next 3 or 4 years Would I feel better riding a brand new 45k pyga or something...maybe psychologically - but really i would feel much better having saved myself 20k and not be in debt I think Dave is talking about people that can't finance that R17K you spent from their budget or wait 3 years to save it. At 10-14% interest it's worth financing it and having the bicycle right away and not in 3-4 years time. Hi Steven. Thanks for the question regarding the service package on the frame. We would obviously be able to waive this for you, so no, you dont need to take the service package if you are buying only a frame.You are welcome to contact my team on finance@bikelife.co.za for me info.CheersDevlin FoggMD- Bike Life Finance Thanks David that clears the service package up, is there a minimum charge though of R15000? Link to comment Share on other sites More sharing options...
Devlin Fogg Posted April 7, 2014 Share I think Dave is talking about people that can't finance that R17K you spent from their budget or wait 3 years to save it. At 10-14% interest it's worth financing it and having the bicycle right away and not in 3-4 years time. Thanks David that clears the service package up, is there a minimum charge though of R15000?Hi Steven. Drop me a line on devlin@bikelife.co.za and I can answer all the questions you have. Typically there is a minimum of 15k yes, but for various reasons, such as us wanting to attract the "right" kind of clientele. We are not a big inflexible bank and we can adjust things on a needs basis where reasonable, so drop me a line and lets chat.RegardsDevlinMD- Bike Life Finance Link to comment Share on other sites More sharing options...
davetapson Posted April 7, 2014 Share Would I feel better riding a brand new 45k pyga or something...maybe psychologically - but really i would feel much better having saved myself 20k and not be in debt This is actually completely topical! I want to make a switch to 9'r wheels as i believe that they will smooth out the ride a bit - i'm too old to be bashed around on 26" wheels if there bigger ones available (let alone single speed rigid Nishiki's!) But I actually love my bike otherwise - Revelation fork, xt/xtr components (apart from chain rings and cassette for which i go for steel where I can), so it's not like I'm hating my bike. At the time, and for a good couple of years it was as plush as one could get. I've been eyeing Pygas out for a while now and had decided to treat myself for one for my 50th - however, the plummet in the ZAR has kicked them from mid R30's to mid R40's - and I just can't justify that kind of money. My original plan had been to buy the frame and then pick up components as they came up on special, but at pretty much R20k for a frame now... Link to comment Share on other sites More sharing options...
Stretch Posted April 7, 2014 Share I think Dave is talking about people that can't finance that R17K you spent from their budget or wait 3 years to save it. At 10-14% interest it's worth financing it and having the bicycle right away and not in 3-4 years time. sure - it is just the concept of paying more than really necessary is the bitterest pill to swallow. I have had the misfortune of having to finance my first vehicle a few years ago (been fortunate enough to avoid it in the past) and the figures just hurt! Link to comment Share on other sites More sharing options...
Stretch Posted April 7, 2014 Share My original plan had been to buy the frame and then pick up components as they came up on special, but at pretty much R20k for a frame now... I know...it hurts! here is an element of risk in buying second hand, and it may cost. One hopes that it doesn't, but it can. And then you still need to buy another bike. My concern with second hand (apart from consumables) is the frame. I've been through 3 frames - they've replaced them under guarantee which they had to as I was the original owner. Another anecdote - I bought some second hand xtr rims that looked ok. Turned out to to be toast. Complete waste of money. Sometimes you win, sometimes you lose... absolutely...a lot of factors came into play when buying 2nd hand and one of them was finding out a bit about the owner Also inspected the bike thoroughly...2 years down the line I know I got a very good deal and am very pleased with my decision...but I agree it could have gone south......just like when i bought a 2nd hand car that had been overheated before and no-one knew about it because the previous owner had died...sold that one for scrap Edited April 7, 2014 by Stretch Link to comment Share on other sites More sharing options...
davetapson Posted April 7, 2014 Share absolutely...a lot of factors came into play when buying 2nd hand and one of them was finding out a bit about the owner Yeh - was just thinking 'bet he bought it off a friend, or a friend of a friend...' which let's face it, is the way to go. Link to comment Share on other sites More sharing options...
Steven Knoetze (sk27) Posted April 7, 2014 Share sure - it is just the concept of paying more than really necessary is the bitterest pill to swallow. I have had the misfortune of having to finance my first vehicle a few years ago (been fortunate enough to avoid it in the past) and the figures just hurt! I hear you, the worst is reading those furniture store adss where they have to disclose the figures.Paying R10000 for a R5500 TV is ridiculous interest!!!!Bikelife is a much different kettle of fish though as the rates are acceptable to most. Another thing to look at is the clientele age group. When you are say between 28-35 you have commitments like a new mortgage, car repayments, etc which leaves you with only a few hundred rands to save, bike are becoming more and more expensive so potentially it will be a good few years before its saved up and the goalposts keep moving forward all the time.Unfotunately there aren't many people who are financially set to pay cash or save thousands a month. craig82 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now