Patchelicious Posted June 3, 2018 Posted June 3, 2018 What do you currently ride. I ask because how much better would a R10k bike be than what you have now. Look, I get the N+1 need I really do. But I would be hard pressed to finance a desire rather than a need, especially if it’s not a major step.
Escapee.. Posted December 13, 2018 Posted December 13, 2018 Cycle Lab running this special at the moment Scott Spark RC900 Pro with XTR 1 x 12 drivetrain R2858.74 per month over 36 months (R9000 deposit) I am sure they will sell quite a few?
Swany05 Posted December 13, 2018 Posted December 13, 2018 Reading this, having a road bike mtb and a commuter i dont owe anything on, makes me anxious I would never be able to justify spending that amount of money per month on a want item. And at the end of the repayment period you have paid over R100k. Madness Cycle Lab running this special at the moment Scott Spark RC900 Pro with XTR 1 x 12 drivetrain R2858.74 per month over 36 months (R9000 deposit) I am sure they will sell quite a few?
Pure Savage Posted December 13, 2018 Posted December 13, 2018 Rather look at using your bond (if you have one) or credit card. R12 000 is not a lot of bicycle, but I could suggest taking whatever cash you have and finding a bike within your budget. By the time you've settled this dept, the bike would have required at least a chain, cassette, gear cable, tyre changes. Not the ideal answer, but hope it gives some guidance. Best way to go
Shebeen Posted December 13, 2018 Posted December 13, 2018 Cycle Lab running this special at the moment Scott Spark RC900 Pro with XTR 1 x 12 drivetrain R2858.74 per month over 36 months (R9000 deposit) I am sure they will sell quite a few?is that price fixed? http://cyclelab.com/scott-spark-rc-900-pro-29-mountain-bike-2019/assuming this is the bike. can buy it R90k cash and get a R5k voucher, so essentially worth R85k. financing it, that deal is will cost you ~R105k present value in today's money. and that's assuming there's no hidden costs.so you're paying them R20k extra to get the bike now! *** deal, especially when the thing is only worth ~R60k the minute it rolls out the door
Escapee.. Posted December 13, 2018 Posted December 13, 2018 is that price fixed? Linked to prime, so no
Shebeen Posted December 13, 2018 Posted December 13, 2018 Linked to prime, so nonote the comp comic sans.
Odinson Posted December 13, 2018 Posted December 13, 2018 is that price fixed? http://cyclelab.com/scott-spark-rc-900-pro-29-mountain-bike-2019/assuming this is the bike. can buy it R90k cash and get a R5k voucher, so essentially worth R85k. financing it, that deal is will cost you ~R105k present value in today's money. and that's assuming there's no hidden costs.so you're paying them R20k extra to get the bike now! *** deal, especially when the thing is only worth ~R60k the minute it rolls out the door Why do you have to **** all over people's dreams?!
buckstopper Posted December 13, 2018 Posted December 13, 2018 I would never buy a toy on credit. If you can't afford to pay cash,save for and get a secondhand bike, Maybe 9 or 10 speed, for say R6000, then upgrade components as you cab. Often good deals here. And upgrading ia fun! On a course like the Argus you may save 3 minutes on a fancy bike over a R6000 bike.
Vetplant Posted December 13, 2018 Posted December 13, 2018 Why do you have to **** all over people's dreams?!Ya, I want to be able to make a dumb financial decision like buying a new Disco 5 over 10 years with a 70% balloon payment even though it would put me under pressure to not even be able to pay for the high school education of my daughters. This is similar to fat-shaming; it is not my fault that I can't see the bigger picture and live within my means. NOTE:Comic Sans is not available as an option on my mobile browser
Shebeen Posted December 13, 2018 Posted December 13, 2018 Why do you have to **** all over people's dreams?!Because people should do their homework on big ticket items! this is about 16-20% interest, which is actually not bad considering it is only for 3 years. I just find new bikes insanely bad deals.this is a very common scenario:R65k bike, ridden 10 times, now going for R45k.the warranty that is now gone is worth something, but essentially R2k down the tubes each time you rode. https://www.bikehub.co.za/classifieds/330515-cannondale-scalpel-si-carbon-3-update/?source=topad but hey, someone has to buy the new bikes and take the haricut to keep the shops open.
Chingy182 Posted December 13, 2018 Posted December 13, 2018 Honest sanity should prevail. People get themselves into troubles with the "wants" in life, not the "needs". Don't buy a "want" with money you can don't have. Save up, sell some old components on the hub and put that money away! Try something like this:save up some cash from your salary over 3 months, try to get to half the price of your bicycle. Best tip is to move the money out of your bank account as soon as your salary comes in, trust me, it works because the money you don't have is money you won't spend on "wants" like a fancy dinner or that thing on Takealot or Onedayonly. The three months will be pass quickly and you will be the same person, with or without your new bike. But you won't sit with a financial commitment that will eat away at your earnings. At 32 I still owe about 55% on our home loan and both our cars are paid off with my wife only working half day and our daughter in pre-school, child number 2 on her way at the end of the year. We are happy with our financial position but it took work and self control.Some pretty good advice right here!! I opened a savings account linked to my regular cheque account and try put in R300 once a month. Before you know it, you've saved up quite some cash. I've found that the principle "Out of sight, out of mind" applies well to my bank balance.
Wayne pudding Mol Posted December 13, 2018 Posted December 13, 2018 2875 per month is fine regardless of the extra you will pay in the long run - that is as long as you have secure income and you can afford that within your monthly budget. Not everyone can afford the new bike of their dreams cash - it's not ideal to finance a bike but if you budget nicely it beats waiting 3 years to get a new bike of your dreams. That said, 40k buys you a really nice secondhand bike in just over a year if you put that money aside
Me rida my bicycle Posted December 13, 2018 Posted December 13, 2018 I would never do it, save up smokkel if you have to see what you can do extra but financing a toy or buying it on credit is a no go for me I have to buy another bakkie or van for work and don't even want to finance that though in the end will probably have to some part of it.My rule is if it can't bring money in or work it's not worth the debt. But that's just me.
Vetplant Posted December 13, 2018 Posted December 13, 2018 My car payment is 2400 a month.Our cars are 7 years old and 9 years old, zero debt payments on them. My home repayment amount due is R8800, the actual debit order going off is R10800. Most months I pay an additional R2000 to R5000 in and somehow we still make it out with my salary and my wife's freelancing income. The house will be paid off within 7 years of buying it. Working on my master plan to be debt free by forty-three (tried to do it by 33,but that is a week away, so unlikely to realise...)
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