MORNE Posted May 23, 2019 Posted May 23, 2019 No, YOLO in your household oh there is for sure lol!You just can't YOLO or want everything everyday of the year...
Jase619 Posted May 23, 2019 Posted May 23, 2019 What I don't get is that most times people don't blink an eye lid when motorbikes are financed but jump up and down when somebody wants to finance a sport they love?? Double standards could easily explain this. If we apply the don't finance a toy thing, all those guys on the BMW motorbikes better have paid cash then
Christie Posted May 23, 2019 Posted May 23, 2019 Never finance toys...Even better: never finance something that depreciates.
porqui Posted May 23, 2019 Posted May 23, 2019 Please read the SMALL print !!! Don't forget the insurance.
Jase619 Posted May 23, 2019 Posted May 23, 2019 Even better: never finance something that depreciates. So you buying cars cash then?
Allrounder Posted May 23, 2019 Posted May 23, 2019 Double standards could easily explain this. If we apply the don't finance a toy thing, all those guys on the BMW motorbikes better have paid cash thenJip I did, and ride it every Modnay to Friday, winter and summer. It was an old second hand and I agree, if you can not save, but you can repay the loan, do it. Your money, your choice. And in the end of the day, what is going to be more expensive, doctors cost for diabetes, heart disease etc or the bike and maintenance. Something to think about if the OP is buying an expensive bike. Expensive bikes comes with expensive components. If something breaks, will he have the moola to fix it, or will the bike then be an expensive ornament in the house.
gummibear Posted May 23, 2019 Posted May 23, 2019 Some great investments here and should give you a good return in 4-5 years https://www.blackmarlinfast.com/collections/felt
Shebeen Posted May 23, 2019 Posted May 23, 2019 it's easy to make a lot of assumptions here. The first one was the OP really thought he wasn't going to get opinions if he asked nicely! but the one that is obvious is that the money is not available upfront to buy outright, whereas the desire to ride that exact bike is. This can be construed as living beyond one's means. options:*save up and buy the bike in two years time...this requires discipline and means you're riding an old/no bike*finance - instant gratificationb+ long term financial pain. if there's any buyers remorse/uninsured theft then you're seriously behind*spend your shekels wisely in the 2nd hand market. The real issue for me is that I'm guessing a financed bike is going to be new. You get screwed on the value the minute it rolls out the door, and then long term with ~20% interest payments and those f#$% monthly R57 admin fees. It's like dropping the soap in the prison showers and fumbling it again once you've picked it up. edit:because everything can be simplified to a 2x2 matrix
Jase619 Posted May 23, 2019 Posted May 23, 2019 Jip I did, and ride it every Modnay to Friday, winter and summer. It was an old second hand and I agree, if you can not save, but you can repay the loan, do it. Your money, your choice. And in the end of the day, what is going to be more expensive, doctors cost for diabetes, heart disease etc or the bike and maintenance. Something to think about if the OP is buying an expensive bike. Expensive bikes comes with expensive components. If something breaks, will he have the moola to fix it, or will the bike then be an expensive ornament in the house. Was referring more to the weekend warrior instagrammers than using it daily, but agree with the it's your choice part.
eddy Posted May 23, 2019 Posted May 23, 2019 Even better: never finance something that depreciates. Even betterer: never finance something unless it is a roof over your head or produces an income.
MORNE Posted May 23, 2019 Posted May 23, 2019 snip It's like dropping the soap in the prison showers and fumbling it again once you've picked it up.
Pure Savage Posted May 23, 2019 Posted May 23, 2019 Even betterer: never finance something unless it is a roof over your head or produces an income.Hence why my cars are old and bought cash and are totes not cool
gummibear Posted May 23, 2019 Posted May 23, 2019 Never finance toys...Many bike shops finance toys over here but interest is zero over 6-12 months any longer is only around 4%.So then it is doable but with SA interest rates id rather not.They make money from the fact that the bike has to be serviced and repaired by them.
Christie Posted May 23, 2019 Posted May 23, 2019 Hence why my cars are old and bought cash and are totes not coolSame here.I made the mistake of financing cars, learned from it, never again.
Spinnekop Posted May 23, 2019 Posted May 23, 2019 Even better: never finance something that depreciates.Then why marry?
Spinnekop Posted May 23, 2019 Posted May 23, 2019 Same here.I made the mistake of financing cars, learned from it, never again.You guys will die as rich men. Well done.
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