Bike finance

[s14phoenix]

... And then there is a baby on the way and considering that new bike on finance or a power meter or 30k wheels are no longer on the cards...

 

  :lol:  

[Oufy MTB (Roadie)]

 When I got my first job and was on the bottom of the pay scale I use to travel to town everyday by car, apart from the traffic woes, my fuel cost was a huge part of my measly salary. So I borrowed R12000 from the bank via personal loan to be paid off over two years and bought myself a really cool motorbike. The monthly repayments on my loan was less  than the monthly fuel bill with my car and it took me 20mins to work and 20 mins back (as opposed to 2 hours a day). So yes I paid more than R12k for the motorbike but my overall saving was hugely significant. Then I used the motorbike and since my work had a standard km reimbursement, I scored there as well. Now imagine I had to save up for 2 years? it would have cost me actually more. In this case making a loan paid off. All my other loans did not have these type of benefits and wish I didn't make 90% of them. Currently, I only have the bond, but eish, wish I could wish that one away. Horses for courses, but if we can stay away from debt, please do

[ChrisF]

I want lots of bikes..your black beauty is one of them..but perhaps I should start riding the 3 I have first..

 

....

 

now THERE is some honest feedback       

[ChrisF]

Absolutely, but at least you are honest about it. Thats what I can appreciate.

 

On your first point, I agree even more, I bought a MTB way out of my league, you know why? Because I wanted it, thats it! There is no logical justification why I needed a RS1 Epic Sworks when I had a perfectly good working Epic Expert. At the time I was saying "RS1 was good for Desert Dash, two bottle cages in the frame, SWAT box bla bla bla".... but we all know that was just trying to justify a bike I wanted, not needed.

 

So my posts are not about giving financial advice, do what you want, just stop talking *** about why you are doing it

 

While we are being honest ....

 

does debt or cash make any difference ??? 

 

 

MOST of us buy it because we WANT to ... not because our existing bikes are not up to the task .....        

 

 

 

and frankly I may just buy another one next year ..... just because I can !

Edited December 4, 2017 by ChrisF

[Sitting@89]

So my 2c, I financed a 35k bike as well, nice mid spec carbon bike. Cancelled dstv (+- R900pm) cancelled gym and joined a cheaper gym (R300pm) saving. Settled two store accounts (R400pm).

 

All in all I have more disposable income than before the finance deal, also I don't do cellphone contracts, my car is paid off, I rent well within my means and generally I save rather than spend.

 

Point to be made from all of this, debt can be very very bad and keep many enslaved and living from paycheck to paycheck, however when managed properly and accounted for in a sensible budget it can also be a great tool. (I could write a 20 page essay on both sides of this argument this is just my 2c)

[Captain Fastbastard Mayhem]

Even worse.... I didnt finance it, I saved up for it. Have ridden it offroad twice, last time being the Desert Dash 2016, and have lost R35k in value looking at current market value.

 

So still not a good financial decision, but I wanted it, it was my money, so screw you guys, I'm going home.

http://www.demotivation.us/media/demotivators/demotivation.us_Screw-you-guys-Im-going-home_131006643626.jpg

[Dexter-morgan]

I want a new Road bike, I could make a loan for it and pay it off but I decided to save for it, now that I have quite a bit saved up, I don't feel like spending my heard "saved" money, So I suppose the new bike will have to stay in the shop for now.

[Patchelicious]

I want a new Road bike, I could make a loan for it and pay it off but I decided to save for it, now that I have quite a bit saved up, I don't feel like spending my heard "saved" money, So I suppose the new bike will have to stay in the shop for now.

 I have a great investment opportunity for you!!! Its not a pyramid scheme, I swear, but you will be rich overnight. 

Edited December 5, 2017 by Patchelicious

[Sitting@89]

I have a great investment opportunity for you!!! Its not a pyramid scheme, I swear, but you will be rich overnight.

This HAS to be bitcoin

(can't do sarcasm font on phone)

[Escapee..]

... And then there is a baby on the way and considering that new bike on finance or a power meter or 30k wheels are no longer on the cards...

 

  :lol:  

 

Same boat here (although they already arrived a year ago)

 

This was definitely an option in the new year but the extra cash will definitely be going towards nappies and bum cream and food and toys and wipes and and and 

[Patchelicious]

This HAS to be bitcoin

(can't do sarcasm font on phone)

 No its not, transfer your savings to me and I'll tell you.....

[EmptyB]

No its not, transfer your savings to me and I'll tell you.....

Oh cool, I'm in!!

[Sitting@89]

No its not, transfer your savings to me and I'll tell you.....

Yes now that you have explained it in so much detail how can one refuse, surely it is steinhoff shares, heard they were up 62% over night and made the jse 174 billion stronger in value.

[Cheese]

While we are being honest ....

 

does debt or cash make any difference ??? 

 

 

MOST of us buy it because we WANT to ... not because our existing bikes are not up to the task .....        

 

 

 

and frankly I may just buy another one next year ..... just because I can !

Agree with You.

 

That what is keeping me from buying a new bike.

Mine now 8 years old, and have a few scratches , I am saving for new one but every now and then I think, "I am still staying with all the monkeys on Bianchis so is it really needed.?"

 

No. But I would still like a new shiny bike.

[Basil]

Wesbank is a great option , but seems the only approved dealer to them is Cycle Lab.

And with cycle lab , their "will beat any price" don't count for anything.

[428 others]

Wesbank is a great option , but seems the only approved dealer to them is Cycle Lab.

And with cycle lab , their "will beat any price" don't count for anything.

 

Strongly disagree with this. I bought two items from them, both was significantly cheaper at CWC. Showed this to the salesman, and got the items for the same price as with CWC.