Patchelicious Posted May 18, 2017 Share The topic of bike finance has been discussed before and at great length. Do a search. You'll find what you're looking for.I don't actually think the topic of bike financing and the various options has ever been discussed with much success. It usually deteriorates very quickly into argument about Hubbers telling other Hubber about investment strategies and then arguing about unit trusts vs black jack, like everybody is Bobby Axelrod. Why don't we all act cool and short something. Link to comment Share on other sites More sharing options...
Danger Dassie Posted May 18, 2017 Share I don't actually think the topic of bike financing and the various options has ever been discussed with much success. It usually deteriorates very quickly into argument about Hubbers telling other Hubber about investment strategies and then arguing about unit trusts vs black jack, like everybody is Bobby Axelrod. Why don't we all act cool and short something. In short, my dad will beat up your dad. Link to comment Share on other sites More sharing options...
Odinson Posted May 18, 2017 Share I don't actually think the topic of bike financing and the various options has ever been discussed with much success. It usually deteriorates very quickly into argument about Hubbers telling other Hubber about investment strategies and then arguing about unit trusts vs black jack, like everybody is Bobby Axelrod. Why don't we all act cool and short something. True. GLuvsMTB and others usually burst onto the threads and start getting all preachy about how anyone who finances a bike is a complete and utter fool. Link to comment Share on other sites More sharing options...
Jase619 Posted May 18, 2017 Share True. GLuvsMTB and others usually burst onto the threads and start getting all preachy about how anyone finances a bike is a complete and utter fool. Exactly. Presumably the same argument could be made about financing a motorbike, when it's not your primary mode of transport, but I bet no one runs around saying you shouldn't finance it, and you should save up for a few years blah blah blah Link to comment Share on other sites More sharing options...
Dicky DQ Posted May 18, 2017 Share If you can make the payments and are happy to pay the interest why not? At least you get the use of the toy now.However it may not be prudent. But then again who buys a motor car or a house that they can afford. Now don't tell my your house is an investment unless it is your 2nd or 3rd property used for passive income. anyway I say you want the toy, can make the payments and are putting something away, why not finance a depreciating liability with huge wear and tear components? Most of us "sit dit maar op die kaart liefie" anyway. This could be more expensive. Link to comment Share on other sites More sharing options...
BSG Posted May 18, 2017 Share What has happened to your signed contract? Surely you should have a copy of it somewhere with all the info you need?Don't know, life got mixed up a bit and lost quite a lot of paperwork [emoji85] Sent from my D5803 using Tapatalk Link to comment Share on other sites More sharing options...
KB280DT Posted May 18, 2017 Share Don't know, life got mixed up a bit and lost quite a lot of paperwork [emoji85] Sent from my D5803 using Tapatalkouch [emoji85]Hope you get sorted asap bud Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
Jakkals. Posted May 18, 2017 Share I don't actually think the topic of bike financing and the various options has ever been discussed with much success. It usually deteriorates very quickly into argument about Hubbers telling other Hubber about investment strategies and then arguing about unit trusts vs black jack, like everybody is Bobby Axelrod. Why don't we all act cool and short something. if you were short ZAR from the support, you've wouldve made some cash to finance your new buy Link to comment Share on other sites More sharing options...
Devlin Fogg Posted May 18, 2017 Share Hi people of the hub. I did the unthinkable two years ago by buying a bike through Bikelife, now I want to make sure when my contract with them is finished but for the last few months I didn't get any response from my e-mails to them and neither can I get hold of them when trying to phone them. Does anyone have an idea of how or whom I need to contact or anyone who has any info will be helpful. Thank youBSG Sent from my proline M7453GDC using TapatalkHi BSG. A friend alerted me to your post. Unfortunately I cant assist you as I am no longer involved in the finance business. The only email address that is operational is accounts@bikelife.co.za. The company doing the management of the book is Debt-In. You can call their Dbn office. I hope you come right. Just for clarity, Bike Life and Bike Life Finance are separate companies, where one does the media and the other does finance. I hope this helps. Cheers. Devlin Link to comment Share on other sites More sharing options...
stringbean Posted May 18, 2017 Share Best investment of 2017 will be to finance a R150k bike So that will get you bottom of the range Specialized then Link to comment Share on other sites More sharing options...
BSG Posted May 18, 2017 Share Hi BSG. A friend alerted me to your post. Unfortunately I cant assist you as I am no longer involved in the finance business. The only email address that is operational is accounts@bikelife.co.za. The company doing the management of the book is Debt-In. You can call their Dbn office. I hope you come right. Just for clarity, Bike Life and Bike Life Finance are separate companies, where one does the media and the other does finance. I hope this helps. Cheers. DevlinThanks Devlin, I got hold of Vivian, apparently their Durban branch closed down. Hopefully she will be able to assist. [emoji106] Sent from my D5803 using Tapatalk Link to comment Share on other sites More sharing options...
CJ Van Posted May 18, 2017 Share True. GLuvsMTB and others usually burst onto the threads and start getting all preachy about how anyone who finances a bike is a complete and utter fool. Not if you consider the increase in bike prices. In 2015 a 2015 Spaz Camber Comp Carbon cost +- R42,000 I did a rough sum and this is what I came up with. Financed over 24 months @ (let’s say) 15.25%Deposit @ 10%Deposit: R 4,200Amount to Finance: R37,800Monthly instalment: R1,837.29Admin Fee: +- R60Total monthly PMT: R1897.29Total PMT over 24 months: R45,534.92Plus Deposit: R4,200 Total cost of Bike: R49,734.92 2017 Spaz Camber Comp Carbon – R56,500 If you started to save R1900 per month in 2015 @ 8% interest on a money market account you would not have been able to buy the 2017 Camber. Maybe it would not have been so utter foolish to finance the bike? Link to comment Share on other sites More sharing options...
ChrisF Posted May 18, 2017 Share Exactly. Presumably the same argument could be made about financing a motorbike, when it's not your primary mode of transport, but I bet no one runs around saying you shouldn't finance it, and you should save up for a few years blah blah blah These threads also pop up on the motorcycle forums ... different names ... exact same script ... And I have seen "well off" people buying new motorcycles every 18 months - and struggling to make the payments .... missing out on events because they are stretched too thin .... Back on planet earth - get RIDING !! Link to comment Share on other sites More sharing options...
Jase619 Posted May 18, 2017 Share Not if you consider the increase in bike prices. In 2015 a 2015 Spaz Camber Comp Carbon cost +- R42,000 I did a rough sum and this is what I came up with. Financed over 24 months @ (let’s say) 15.25%Deposit @ 10%Deposit: R 4,200Amount to Finance: R37,800Monthly instalment: R1,837.29Admin Fee: +- R60Total monthly PMT: R1897.29Total PMT over 24 months: R45,534.92Plus Deposit: R4,200 Total cost of Bike: R49,734.92 2017 Spaz Camber Comp Carbon – R56,500 If you started to save R1900 per month in 2015 @ 8% interest on a money market account you would not have been able to buy the 2017 Camber. Maybe it would not have been so utter foolish to finance the bike? Yip, always do the calculations and decide based on that. Unfortunately the save and wait principle doesn't take into account the impact of inflation and Rand Exchange rate fluctuations. . . it also doesn't account for the many hours of lost enjoyment and the inevitable dip into the savings account for something urgent, which then eats away at your goal Link to comment Share on other sites More sharing options...
Jase619 Posted May 18, 2017 Share These threads also pop up on the motorcycle forums ... different names ... exact same script ... And I have seen "well off" people buying new motorcycles every 18 months - and struggling to make the payments .... missing out on events because they are stretched too thin .... Back on planet earth - get RIDING !! Surely saving up 200 - 300 grand is asking a bit much, obviously depending on what you buy. I guess people will have to start saving from when they are 20 to afford their inevitable mid-life crisis machine. . . Link to comment Share on other sites More sharing options...
stefmeister Posted May 18, 2017 Share Not if you consider the increase in bike prices. In 2015 a 2015 Spaz Camber Comp Carbon cost +- R42,000 I did a rough sum and this is what I came up with. Financed over 24 months @ (let’s say) 15.25%Deposit @ 10%Deposit: R 4,200Amount to Finance: R37,800Monthly instalment: R1,837.29Admin Fee: +- R60Total monthly PMT: R1897.29Total PMT over 24 months: R45,534.92Plus Deposit: R4,200 Total cost of Bike: R49,734.92 2017 Spaz Camber Comp Carbon – R56,500 If you started to save R1900 per month in 2015 @ 8% interest on a money market account you would not have been able to buy the 2017 Camber. Maybe it would not have been so utter foolish to finance the bike?Yeah, because the ZAR took a beating.The opposite could also happen; Zuma gets recalled tomorrow, and Cyril is the new prez. The markets react and the ZAR strengthens to 11.00 R/USD. Come 2019 and the DA wins, and we're back to 6.00 R/USD and a 2019 Camber S-works costs R40k. Link to comment Share on other sites More sharing options...
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