Patchelicious Posted May 23, 2019 Posted May 23, 2019 Its often the same people who put things they don't need on credit, that later come out and moan that they are victims of big bad greedy corporates.
MORNE Posted May 23, 2019 Posted May 23, 2019 Poor OP... 80-odd comments, and only a handful relevant to his question. OP, I have no knowledge of any of the financing options you mentioned. My 2c:get quotes from all of them (as suggested by others)get a quote from your bank for a different kind of loan (if this is an option)calculate what it would cost on your homeloan, if paid off over the same period as the other options (if this is an option). Then pick the best offering, after having also read the smallprint...and go and enjoy the bike!i dunno. I think they are all relevant to the discussion..well most.- "a smart man learns from his mistakes...a wise man learns from everybody elses"
BuffsVintageBikes Posted May 23, 2019 Posted May 23, 2019 The way inflation is moving in SA, the 20% interest that you're paying over the settlement period with probably still be less than the 35% increase in the bikes cost over the same period.
ChUkKy Posted May 23, 2019 Posted May 23, 2019 Even better: never finance something that depreciates. and people still get married these days too... plain crazy!
ChrisF Posted May 23, 2019 Posted May 23, 2019 Those saying dont finance toys are 110% correct. HOWEVER, bicycles are a slightly different kettle of toys as they are in fact health related investments and if financing a bicycle means you ride the bike you like and you cycle more then thats a good thing. So by all means finance a bike. Keep the payments affordable and go cycle. Investing in ones health while you can can never be overated cos once you lose your health you spend your lifetrying to get it back. Interesting perspective .... If I keep my current bike for just more than 18 months it will cost me less "per month" than a friend's gym membership ... PS - bought it cash .... I have a fixed extra amount that goes into the bond each month. Has served me well over the years. That said, I appreciate that others do it differently .... thank goodness !! Life would be so damn boring if we all did everything the same way ... Back ON TOPIC - - - OP might want to source the bike from 2 or 3 different dealers, and ask each about their financing options .....
J Wakefield Posted May 23, 2019 Posted May 23, 2019 Im always in 2 minds on this but at the end of the day if the person finances the bike isn't doing it by selling a kidney and get the enjoyment out the bike that they always provide, Im all for it.Not everyone can out right buy a bike but they can afford it monthly (unless its a Felt seeing their prices) so if this is the best option enjoy the bike. Many happy miles dude.
Patchelicious Posted May 23, 2019 Posted May 23, 2019 Im always in 2 minds on this but at the end of the day if the person finances the bike isn't doing it by selling a kidney and get the enjoyment out the bike that they always provide, Im all for it. Not everyone can out right buy a bike but they can afford it monthly (unless its a Felt seeing their prices) so if this is the best option enjoy the bike. Many happy miles dude.Agreed. Finance what you like, I couldn’t care less, we are all adults here. But don’t come and cry later when it becomes evident that the lender is making money off of the agreement. Only your granny will lend you money because they like you. Other people do it as a business.
porqui Posted May 23, 2019 Posted May 23, 2019 Im always in 2 minds on this but at the end of the day if the person finances the bike isn't doing it by selling a kidney and get the enjoyment out the bike that they always provide, Im all for it. Not everyone can out right buy a bike but they can afford it monthly (unless its a Felt seeing their prices) so if this is the best option enjoy the bike. Many happy miles dude. Agree with you - but people that would finance a bike are usually the ones that will finance other things too and that is where the real problem starts.
porqui Posted May 23, 2019 Posted May 23, 2019 .What about the concept of a stokvel for bikes. Would definitely work for spare parts and upgrades.
daniemare Posted May 23, 2019 Posted May 23, 2019 Saving is a choice. paying back a loan is not.And like everything else , Choice is Free, Force comes with a 15% interest fee. Both comes the same impact on monthly cash flow, and thats the part I cannot understand
i24 Posted May 23, 2019 Posted May 23, 2019 Back to the OP's topic. I have an idea. I ride a 6 year old bike that I paid cash for. It is not insured so I have saved up some money to buy a replacement in the event that something happens to it. Maybe we could do a deal. I lend the OP the cash I have saved up and he pays me back with say, 14% interest, over 3 years. I ride my bike for another 3 years and save up the repayments. Then I can split the capital I have saved, buy something lekker with one half and put the other half back into my self insurance fund. If something happens to my bike in the meantime, I will just have to ride my old bike. Its about 30 years old, but steel is real and it puts just a big a smile on my face as the dual sus MTB. Of course there are a few challenges: - OP does not have > 1000 posts- I don't have > 1000 posts- I don't have a banking licence- Cash I have saved up is probably not enough for the OP's purchase- OP lives too far away for me to go and collect the bike if he stops making payments.
Veebee Posted May 23, 2019 Posted May 23, 2019 and people still get married these days too... plain crazy!I made the mistake a year ago ... haha
BigDL Posted May 23, 2019 Posted May 23, 2019 **** sakes - you will sign a 2/3 year contract with planet fitness without a second thought. Do you pay cash up front for that? If not, what’s the difference between that and buying a bike on finance?
MORNE Posted May 23, 2019 Posted May 23, 2019 **** sakes - you will sign a 2/3 year contract with planet fitness without a second thought. Do you pay cash up front for that? If not, what’s the difference between that and buying a bike on finance?roughly R1200 Pm? lol...but then again...i don't do that either. If you don't have the discipline to exercise on your own/at home/in the street/ on the beach then you wont see out a gym contract either imo
BigDL Posted May 23, 2019 Posted May 23, 2019 roughly R1200 Pm? lol...but then again...i don't do that either. If you don't have the discipline to exercise on your own/at home/in the street/ on the beach then you wont see out a gym contract either imo Ha - I made my living running health club chains for many years, so I am grateful that not everyone agrees with you. [emoji23]
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