Bike finance

[Basil]

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.

Their excuse is ,that they can't drop their price as I'm doing finance through wesbank and it's not cash. The price difference is R6000 though and I can understand it's maybe too much of a difference to come by , but then rather try n bargain with me or even say , sorry , that's just too much .  .  .But ,as expected  .  .  .they come up with such an excuse. Wesbank pays them cash in an instant ,right???

Pity ,I don't have the cash to play the 'game' and ask 'what now?'

Problem , they can take that chance , playing the game to the extend :-)

[Patchelicious]

Their excuse is ,that they can't drop their price as I'm doing finance through wesbank and it's not cash. The price difference is R6000 though and I can understand it's maybe too much of a difference to come by , but then rather try n bargain with me or even say , sorry , that's just too much . . .But ,as expected . . .they come up with such an excuse. Wesbank pays them cash in an instant ,right???

Pity ,I don't have the cash to play the 'game' and ask 'what now?'

Problem , they can take that chance , playing the game to the extend :-)

No it’s not an excuse, it’s a reason.

 

Discounts that would be passed onto costumers in cash deals are often rebated to the finance house as it lowers the loan amount, and risk, therefore you get offered lower interest rates, which in turn makes financing more attractive..... ask yourself how these finance guys can offer such low interest rates on unsecured loans when the standard actuarial models pretty matured.

[Shebeen]

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

What you've described makes perfect sense. Because what you financed was not a toy, it was an item you used every day in order you do your job.

[Oufy MTB (Roadie)]

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 know this feeling. I saved for exactly a year for my Garmin Edge 520 and in September this year it took a lot of procrastination before I eventually bought it. I saved well over R5000 for it and really struggled to part with it. If I must save up R60k for example for a new bike and reach that target, I really doubt I will part with it. 

[Heel Drop]

invest in crypto for 2 months and then buy cash ( t ' s and c apply) I am not a financial planner 

This is not financial advice I would advise you to follow ( bit I did ) 

[BigDL]

invest in crypto for 2 months and then buy cash ( t ' s and c apply) I am not a financial planner

This is not financial advice I would advise you to follow ( bit I did )

Ha, I must be the only guy who has lost money on bitcoin, although it’s only been a month or so [emoji23]

 

 

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[Dexter-morgan]

Ha, I must be the only guy who has lost money on bitcoin, although it’s only been a month or so [emoji23]

 

 

 

 

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The 2 of us.

[Patchelicious]

The 2 of us.

There are plenty who have. But you won’t hear about it as that doesn’t help the hype that’s driving the over valuation....

[Sitting@89]

There are plenty who have. But you won’t hear about it as that doesn’t help the hype that’s driving the over valuation....

^ this

[Heel Drop]

Ha, I must be the only guy who has lost money on bitcoin, although it’s only been a month or so [emoji23]

 

 

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I jumped of that bandwagon and went to Ether and more then doubled what I put in - I was in and out at the right time . Took out all the initial investment and have 3 coins I invest in with much smaller amounts , but let me tell you 5% here and there every few weeks adds up - I am smiling 

[Heel Drop]

the thing I find interresting is to finance is easy . If I want that brand new BMW and they give me a deal on finance its so easy to buy it . We have been mind f%^& into believing that there is good debt so to finance a car is "good debt" but if I had 450k cash and wanted to buy a car I will def not buy the BMW with my cash

I know its not always possible to buy cash and I have financed numerous cars and even cycles , but I decided to pay off all debt and invest and I am thinking 10 times now before I give my cash away. When its some one elses cash ( the bank) its easy but much harder when its your own

If I want to buy somehting now I invest money untill I have to cash to buy what I want OR I dont buy it - works for me

[Coolspin]

So people think its silly to finance a "toy" such as a bicycle.

 

Finance an Aston Martin, all good.

Finance the BMW when you could buy the corolla cash, all good.

New golf clubs on credit card, all good.

Take money from your bond to go on holiday, all good.

Speculate in bitcoin, all good.

 

All sorts of incredibly long intricate reasons why financing of bicycles differs from the above financial behaviours by previous contributors on this thread.

One pearler, if you drive your car every day then its ok to have finance.

Inference being, if you only ride your bicycle twice a week, then its not ok to finance.

 

Cant understand why there are so many people that are judgemental about those that choose to finance bicycles.

 

I dont have any bicycles that are financed but would irritate me incredibly to have some self righteous "finance guru" trot out the old "never finance toys" one liner then walk off the stage to drive away in his financed car.

[Jase619]

Bitcoin is a fad, invest in Steinhoff and wait a few months then start printing money

[Heel Drop]

Bitcoin is a fad, invest in Steinhoff and wait a few months then start printing money

its the crypto era - go do some anaylsyis on stocks vs Crypto and see which performed best over the last year. 

 

https://cointelegraph.com/news/2017-market-performance-crypto-vs-stocks

[Heel Drop]

here is a clear picture of the crypto performance 

[Heel Drop]

Bitcoin is a fad, invest in Steinhoff and wait a few months then start printing money

excatly what % increase  in your mind is printing money ?