Bikelife finance

[Patchelicious]

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. 

Edited May 18, 2017 by Patchelicious

[Danger Dassie]

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. 

[Odinson]

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.

Edited May 18, 2017 by Johnathan CavalierDeTempê

[Jase619]

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

Edited May 18, 2017 by Jase619

[Dicky DQ]

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. 

[BSG]

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]

 

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[KB280DT]

Don't know, life got mixed up a bit and lost quite a lot of paperwork [emoji85]

 

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ouch [emoji85]Hope you get sorted asap bud

 

 

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[Jakkals.]

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

[Devlin Fogg]

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 you

BSG

 

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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. Devlin

[stringbean]

Best investment of 2017 will be to finance a R150k bike  

So that will get you bottom of the range Specialized then

[BSG]

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. Devlin

Thanks Devlin, I got hold of Vivian, apparently their Durban branch closed down. Hopefully she will be able to assist. [emoji106]

 

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[CJ Van]

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 4,200

Amount to Finance:                        R37,800

Monthly instalment:                       R1,837.29

Admin Fee: +-                                    R60

Total monthly PMT:                        R1897.29

Total PMT over 24 months:         R45,534.92

Plus 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?

[ChrisF]

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 !!     

[Jase619]

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 4,200

Amount to Finance:                        R37,800

Monthly instalment:                       R1,837.29

Admin Fee: +-                                    R60

Total monthly PMT:                        R1897.29

Total PMT over 24 months:         R45,534.92

Plus 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

[Jase619]

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. . .

[stefmeister]

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 4,200

Amount to Finance:                        R37,800

Monthly instalment:                       R1,837.29

Admin Fee: +-                                    R60

Total monthly PMT:                        R1897.29

Total PMT over 24 months:         R45,534.92

Plus 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.