Bike boom - is it over?

[Steady Spin]

The boom may be be over but the bang up the bum without vaseline definitely isn't

Got proper reamed on new tyres yesterday. Up 15% in the last 6 months. 

This sport is definitely not for the cash strapped individual. 

[Headshot]

The more hi tech cars become the shorter their lifespan it seems. I've owned several second hand BMW's over the years. The 1990's versions were by far the most fun to drive and the simplest mechanically. There were some unforeseen repairs required along the way, but on the whole they were very reliable. Fast forward to the 2000's and the cars became less fun to drive - unless you bought an overpriced M version and became more complex and unreliable, especially as the km rise,  - mostly in the name of safety and fuel economy. 

That said, I can see the appeal of a Kwid or Spresso  - fun no, but they'll do the job and remain relatively simple. 

I wish I'd had a barn to stick my old cars in - my teenage son would now be dusting off my lovely old e30 318i, redoing the cylinder head and doing another 300k km in it. 

[TyronLab]

10 minutes ago, Steady Spin said:

The boom may be be over but the bang up the bum without vaseline definitely isn't

Got proper reamed on new tyres yesterday. Up 15% in the last 6 months. 

This sport is definitely not for the cash strapped individual. 

One of the primary reasons why I ride the bikes I do. The running cost of a bike is very dependent on what type of bike it is, and if you can at least do basic work on it yourself. 

I'm currently in need of a drivetrain replacement, and the bill is making my eyes water. I moved away from suspension for maintenance cost reasons (among others), I'll be moving away from gears pretty soon too (more for fun reasons than maintenance reasons though). I totally get why I see people with full sus bikes and XX1 cassettes and derailleurs stopping and walking around every puddle, I just question what the point of having fancy parts is if you're too scared to do anything with them.

[Headshot]

2 minutes ago, TyronLab said:

One of the primary reasons why I ride the bikes I do. The running cost of a bike is very dependent on what type of bike it is, and if you can at least do basic work on it yourself. 

I'm currently in need of a drivetrain replacement, and the bill is making my eyes water. I moved away from suspension for maintenance cost reasons (among others), I'll be moving away from gears pretty soon too (more for fun reasons than maintenance reasons though). I totally get why I see people with full sus bikes and XX1 cassettes and derailleurs stopping and walking around every puddle, I just question what the point of having fancy parts is if you're too scared to do anything with them.

A friend of mine showed me his latest jewelry the other day - an XO1 cassette bought on "special" for R7k. Thats half the price of my first dual sus bike that came with XT and Fox. 

[throttles]

3 minutes ago, Headshot said:

A friend of mine showed me his latest jewelry the other day - an XO1 cassette bought on "special" for R7k. Thats half the price of my first dual sus bike that came with XT and Fox. 

your buddy should shop on the hub.. much better pricing.. 🤭

[The Ouzo]

13 minutes ago, Headshot said:

The more hi tech cars become the shorter their lifespan it seems. I've owned several second hand BMW's over the years. The 1990's versions were by far the most fun to drive and the simplest mechanically. There were some unforeseen repairs required along the way, but on the whole they were very reliable. Fast forward to the 2000's and the cars became less fun to drive - unless you bought an overpriced M version and became more complex and unreliable, especially as the km rise,  - mostly in the name of safety and fuel economy. 

That said, I can see the appeal of a Kwid or Spresso  - fun no, but they'll do the job and remain relatively simple. 

I wish I'd had a barn to stick my old cars in - my teenage son would now be dusting off my lovely old e30 318i, redoing the cylinder head and doing another 300k km in it. 

The problem comes not only with the complexity but with the smaller tolerances. Everything is being built with the least bit of overengineering possible, all in the name of keeping costs down. That means things break easier.

 

As for the Kwid, you just need to spend a day here seeing them coming in next door on flat bed trucks to realise you'll probably be spending more keeping them on the road then is justifiable. 

[Bomberman]

36 minutes ago, DIPSLICK said:

no conversations about new bikes and X amount makes sense anymore IMHO

financed or paid cash, I have some new bikes and a couple of steel frame pimped  Ritcheys and Niners,,,, I use the old steel bikes by far the most, I have said it a few times this time I will stick to it,,,,no more new bikes,,,it makes no sense, 

 

No more new bikes..... sure 

[_David_]

50 minutes ago, Roul said:

I'd definitely want to know how peeps 'afford' those shiny new D5s or the Defenders. 

I have a mate who bought a brand new Defender just last week for his wife and he did not finance it. The rich are still rich and the poor are still poor. It's the middle class that's disappearing.

Edited July 27, 2022 by _David_

[LazyTrailRider]

2 minutes ago, _David_ said:

I have mate who just last week bought a brand new Defender for his wife and he did not finance it. The rich are still rich and the poor are still poor. It's the middle class that's disappearing.

Can you send me his details so I can interview him for the first episode of my podcast? 😜

(#jokingnotjoking)

[BigDL]

48 minutes ago, ouzo said:

Since I'm in the industry let me comment.

The banks will still only let you installment be 1/4 of your monthly income, but people are going with maximum RV values on their purchases or financing over 96 months. So your 400k polo is R6.5k per month, so they are only earning just over 300k per year.

They are however also pretty much maxed out with all other expenses so if any further outlay is required they are screwed.

 

But there is a big shift in spending patterns on vehicles. More people are going for the cheaper makes. Renault next door to us is pushing our Kwids and Kigers at an alarming rate. Yet everysingle person that walks across from them to us will comment on how crap the renault is, but they will still buy the renault over the honda because its cheap.

96 months - Holy Crap 

I've no idea what the max is here as a percentage of income. Interest rates are pretty low though so paying a deposit on a car makes zero sense.  As a comparison, in 2019, I financed a 2016 Polo for my son over 48 months with zero deposit and an interest rate of 4% APR. He has now taken on the payments (or is at least paying me the money every month) and, as a part time gymnastics instructor in a council leisure centre / gym, he is able to afford the monthly payment comfortably (about 13% of his take home if he works 35 hrs a week). 

[The Ouzo]

3 minutes ago, _David_ said:

I have a mate who bought a brand new Defender just last week for his wife and he did not finance it. The rich are still rich and the poor are still poor. It's the middle class that's disappearing.

100%

Those with money still have it, they are the ones that will do what your mate did. There are more of them than you think.

 

[BigDL]

5 minutes ago, _David_ said:

I have a mate who bought a brand new Defender just last week for his wife and he did not finance it. The rich are still rich and the poor are still poor. It's the middle class that's disappearing.

That I'll never understand. Why buy a car outright when finance is (comparatively) cheap. Surely that money would be better being invested somewhere? 

[throttles]

Just now, BigDL said:

That I'll never understand. Why buy a car outright when finance is (comparatively) cheap. Surely that money would be better being invested somewhere? 

#Flexing 🤭

[_David_]

17 hours ago, LazyTrailRider said:

Can you send me his details so I can interview him for the first episode of my podcast? 😜

(#jokingnotjoking)

He bought the vehicle through his company and if you brand it "magnetic decals" it becomes tax deductible or that is the story he told us. 

Edit: Okay I asked him about it, apparently if you brand the vehicle it can be claimed as a marketing / advertising expense to the company.

Edited July 28, 2022 by _David_

[Bomberman]

The sad part is its hitting hard.

On a good month I had about 6k left for spending on stuff like eating out, its gotten to a point were my wife had to start working just for us to get through the month, we don't waste money at all.

I've totally stopped maintaining my bike, small minor things I fix but I just cant afford it anymore. My dropper seriously needs a service but getting that done is not happening soon, luckily I have one of those stopper clampy thingy's that helps it not sag. 

 

[throttles]

1 minute ago, _David_ said:

He bought the vehicle through his company and if you brand it "magnetic decals" it becomes tax deductible or that is the story he told us. 

The tax benefit would be related to the interest paid on the repayment, and then on the depreciation.

Or thats how i understood it, either i'm wrong or something has changed..