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If you can't own it, you can't afford it.

I started saving for my RK years ago.... just about had all the money saved, and then the wife needed a new car.

Starting over, I saved for the HD.... then I needed a new car (actually, a truck).

Started saving AGAIN for the RK.

I had money in the bank, but that was the "rainy day fund"...

Finally said "Screw it, let's ride"... and borrowed the money from MYSELF to get the HD.

Paid 7% interest on a loan against my money in the bank (which was getting 5.5%). So the bike ended up costing me 1.5% interest, for about a year... and I paid myself off (was saving MORE).

now, 6 years later (its an '02 RK)... I own the car, the truck, and the bike.... and have MORE money in the bank then before. Because of the INCREASE in fuel prices last year and earlier this year, I rode the bike MORE, SAVING more... The truck has nearly 300K miles on it, the car has 120K, and the bike has nearly 35K!

Time to use my savings to make money in stocks, while everyone else is afraid to play!
 
I had nothing left after putting (3) girls through college. I put 10% down and bought my first Harley in August. Bank owns it. So what. I'll double payments and pay it off. It's mine. I pay the insurance. House is paid. But again so what. I still have to pay taxes. If you can afford payments, buy it. Life goes to fast to say, "Ah, maybe next year". If you work for a living, then live. If I die owing Uncle Sam or Harley Davidson money, good, they ain't going to miss my monthly payment. I don't care who you are, slapping down 20K for a new Harley just aint gonna happen. If I tried to save now, I'd be 65 years old before I got my first Harley. I owe, I owe, off to work I go.
 
I owe, I owe, I owe, so off to work I go.

With three children in the house (last one moved out last Sept) could not save enough to pay cash for much, much less a bike. Truck will be paid for in 18 mo (4.5%). Bike (5.5%) will be paid off in about three years and I'm planning to retire at age 67 in 8 years.

May not be the best plan, but all will be paid for when I retire and I get to enjoy the bike now.
 
I personaly think that it depends what stage of life you are in as to whether you purchase outright or finance when your in your 20s you have your whole life ahead to pay back your loans and make your mistakes,by the time you hit your 40s you should be more careful and plan ahead so that you have the money to enjoy yourself and do what you want,when you want.JMO
 
Simply a case of separating wants and needs...using good sense and working it in to your budget. Too many things consume our time and money and few used to truly be justified, such is the consumer based, free market economy we live...oh yeah, God gave us free will, luck and opportunity, "-- potato potato.." whether you own your ride or not still sounds sweet, but you probably will not need a ride in heaven...this is strictly an earth bound mortal experience! IMHO.

Just enjoy it while you can, share with your loved ones & future generations 'cause life is too short not to! :D
 
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At least at the end of the loan you would still own your bike. Its the leasing I don't get!! I Leased a car once, that's not for me. I always felt like I was washing the bank's car, putting gas in the bank's car; never felt like it was mine. Paid cash for my 2003 883XL. It was used, with all the weird financial things that popped up since, I wish I had taken a loan out and carried it over a half year or year!! Broken tooth, emergency dog care -- you know -- you get $500-dollared to death.

Life comes at you FAST! And with the economy, it may sweep you out to sea. I'll expect we'll see a lot of non-essential vehicles on eBay if the big three hit the skids.
 
I agree that the decision to borrow or pay “cash” depends on several factors. I think the key is to be truthful to yourself. Basically, I believe most of us, most of the time, know if we can really afford something. ‘Course the big “I want” versus the “I need” argument is sorta loaded in favor of “I want”.

I also believe the smart bike buyer knows that “used” can give you great value. "Course If you find a used bike with an extended warranty you can really take a lot of risk out of the purchase. Buying used can be a good strategy for other reasons. For example, when buying your first bike, buying used can settle one big question at a lower cost…….. will you really enjoy riding. There is no shortage of “hanger queen” bikes. Finding a low mileage bike isn’t that hard. Can’t believe all those low mileage bikes exist because the owner was just too busy to ride. However, once again, the “I want” a new bike can easily out trump the logic of buying used. And, that isn’t necessarily bad.

Paying cash certainly isn’t the end all to a sound financial plan. However, overburdening yourself with debt can become a very “tough row to hoe” for anyone.

Wow. This all sounds way too serious. Wish I was riding. :yes
 
Ya know...

Sometimes life throws you a curve ball, something only God can see coming...unexpected illness, accident, getting laid off after working the same place for 20 years, spouse spontaneously goes insane and runs off, lawsuit whether legitimate or bogus...and suddenly you are strapped for cash.

As the saying goes, the best laid plans of mice and men often go astray.


And yes, some people buy more than they can realistically afford, and some ride a while and decide it's not really for them after all...

I've owned four bikes, two were used, and the first new one I saved up money for months and paid cash for $2,100.00 total including two helmets and sissy bar (bikes was way cheaper back'n the day...)

:bigsmiley6:
 
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