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Old 10-16-2007, 09:58 AM   #1
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I've known 6 people in their mid 20's going out finance a bike. No money down, kick interest rates, brand new bike. 1 doesn't have full coverage, 5 have full coverage minus gap protection. All wreck their bikes within a year, all cried that they would still owe money if the insurance totalled it out. What the are they thinking? You are expected to lose money on these kinds of deal. It's not that they have good deal or buy at dealer's cost, some even got their gear and add on financed. Bunch of whackos.
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Old 10-16-2007, 10:01 AM   #2
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If you finance a bike, you should probably have gap and definately have full coverage. Stupid if you don't have full coverage!


I have full on mine and it's financed. Even had them bump up the 'payout' amount if considered a total loss....cost me a little more but worth it.
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Old 10-16-2007, 10:02 AM   #3
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Sorry what is your Question or is there one? are you venting? who are you to tell anyone how and when to spend their hard earned money? What gives you that right?
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Old 10-16-2007, 10:04 AM   #4
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Sorry what is your Question or is there one? are you venting? who are you to tell anyone how and when to spend their hard earned money? What gives you that right?
...pretty much the same crud as we're seeing the current housing market.
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Old 10-16-2007, 10:05 AM   #5
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Sorry what is your Question or is there one? are you venting? who are you to tell anyone how and when to spend their hard earned money? What gives you that right?
no question, just sharing.
Learn from this people.
Play now and pay later.
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Old 10-16-2007, 10:07 AM   #6
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Not everyone's got 6 or 7 grand just lying around to buy a bike.

Financing is sometimes the only way.
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Old 10-16-2007, 10:09 AM   #7
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...pretty much the same crud as we're seeing the current housing market.
There must be a trend going on that I am not seeing.
People buying/leasing new cars, buying houses with little down, financing toys without paying a dollar. Maybe the new bankruptcy law gave the bank more power to make you pay back every cents that you owed.
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Old 10-16-2007, 10:11 AM   #8
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Not everyone's got 6 or 7 grand just lying around to buy a bike.

Financing is sometimes the only way.
I understand but you have to take a loss in depreciation as putting miles on it. Insurance isn't gonna pay full retail on a bike that is a year old.
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Old 10-16-2007, 10:14 AM   #9
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I understand but you have to take a loss in depreciation as putting miles on it. Insurance isn't gonna pay full retail on a bike that is a year old.
It's the same thing with any vehicle you buy including cars...

Can't plan for an accident...

If you're gonna finance a vehicle and go racing with it, then you're an idiot.
But if you're just using it for pleasure, than for the most part you should be fine.
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Old 10-16-2007, 10:16 AM   #10
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I have about 7 people finance a bike with no money down. Varying interest rates, all 7 wrecked within a month with liability only. Some of them financed gear and all kinds of add-ons. I financed a house and a bike with 0% down and good rates. Ive got full coverage on my bike though and a good policy on the crib too so...
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Old 10-16-2007, 10:20 AM   #11
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I have about 7 people finance a bike with no money down. Varying interest rates, all 7 wrecked within a month with liability only. Some of them financed gear and all kinds of add-ons. I financed a house and a bike with 0% down and good rates. Ive got full coverage on my bike though and a good policy on the crib too so...
I guess the problem is all these inexperienced riders, or brand new riders, going for new 600's.

I learned how to ride on my dad's 1982 CB 450 back in high school. I finance my fist bike in college, but by then I was already experienced.

Maybe they should buy old POS's to learn on and then move up to bigger bikes.
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Old 10-16-2007, 10:24 AM   #12
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Not everyone's got 6 or 7 grand just lying around to buy a bike.

Financing is sometimes the only way.
No kidding, but the 'new' financing terms etc are more of a trap....
10 years ago, you didn't see anything like the 'lures' used now
to get people to finance. And I think a lot less people paying the
attention they should to the fine print...(or thinking it through).

I'm doing my best to reduce my need (and use of) for 'credit' as much as friggin possible.
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Old 10-16-2007, 10:27 AM   #13
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Quote:
Originally Posted by Fuzzy018 View Post
I guess the problem is all these inexperienced riders, or brand new riders, going for new 600's.

I learned how to ride on my dad's 1982 CB 450 back in high school. I finance my fist bike in college, but by then I was already experienced.

Maybe they should buy old POS's to learn on and then move up to bigger bikes.
Agreed, first will never be your last bike....

If you act like it is, you'll either never learn to ride well or not make it out of the first wreck. My case, I have liability only to cover others on the road. But I have the means to fix or rebuild my bikes at leasure. All cases on the kat I fixed/repaired w/o insurance. The busa last weekend I wasn't at fault but still don't think I would have involved insurance, cause my rates would go through the roof just in the paint...

As for the add ons and gear... that needs to be purchased and installed even by their buddies on the side if they can't turn a wrench themselves... that is the stuff that'll will ya in the rear pocket...
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Old 10-16-2007, 10:35 AM   #14
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No kidding, but the 'new' financing terms etc are more of a trap....
10 years ago, you didn't see anything like the 'lures' used now
to get people to finance. And I think a lot less people paying the
attention they should to the fine print...(or thinking it through).

I'm doing my best to reduce my need (and use of) for 'credit' as much as friggin possible.
They are traps but there are ways arounf it. Yamaha for example has really good financing rates for the first 2-3 years, than it shoots up to 20% plus. As long as you're dissiplined enough to pay the bike off before then. Everything is ok.

But when people start adding Gear and MODS, they screw themselves over.
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Old 10-16-2007, 10:36 AM   #15
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Quote:
Originally Posted by Fuzzy018 View Post
I guess the problem is all these inexperienced riders, or brand new riders, going for new 600's.

I learned how to ride on my dad's 1982 CB 450 back in high school. I finance my fist bike in college, but by then I was already experienced.

Maybe they should buy old POS's to learn on and then move up to bigger bikes.
"LIVE FAST ... or ... DIE BORED!!!" Sorry WTF does this mean? I think that you are a condescending hater. Again no one has the right to tell someone else how to spend their hard earned money. We all have the right to the pursuit of happiness ... and I dont see how a beginner buying a brand new 600cc bike and financing it should be any of your concern. There are way to many factors out that are not being looked at. #1 everyone matures differently not everyone is going to go out there and crack the throttle open on their bike like MAYBE you would.... that is a different topic. My point is that people work hard for their money and you have no right to judge their decisions SH*t we all need to live a little who are you to say they can have some fun... Are you with the fun police?
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Busa club. why did you not mention that? that makes things all nice and peachy
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Old 10-16-2007, 10:40 AM   #16
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"LIVE FAST ... or ... DIE BORED!!!" Sorry WTF does this mean? I think that you are a condescending hater. Again no one has the right to tell someone else how to spend their hard earned money. We all have the right to the pursuit of happiness ... and I dont see how a beginner buying a brand new 600cc bike and financing it should be any of your concern. There are way to many factors out that are not being looked at. #1 everyone matures differently not everyone is going to go out there and crack the throttle open on their bike like MAYBE you would.... that is a different topic. My point is that people work hard for their money and you have no right to judge their decisions SH*t we all need to live a little who are you to say they can have some fun... Are you with the fun police?
Someone must have gotten up on the wrong side of bed this morning.

It's their choice of happiness but when the insurance come to totalled out the bike don't complain, cry or whine about owing 3 grands or more. Accept the lost and move on to the next bike. Why fight a losing battle?
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Old 10-16-2007, 10:43 AM   #17
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"LIVE FAST ... or ... DIE BORED!!!" Sorry WTF does this mean? I think that you are a condescending hater. Again no one has the right to tell someone else how to spend their hard earned money. We all have the right to the pursuit of happiness ... and I dont see how a beginner buying a brand new 600cc bike and financing it should be any of your concern. There are way to many factors out that are not being looked at. #1 everyone matures differently not everyone is going to go out there and crack the throttle open on their bike like MAYBE you would.... that is a different topic. My point is that people work hard for their money and you have no right to judge their decisions SH*t we all need to live a little who are you to say they can have some fun... Are you with the fun police?
CALM THE F**K DOWN!!!

Nobody's (Especially me) is telling anybody how to spend their money.

If someone wants to go and buy a busa with no experince, hey, godspeed and good luck. I would never tell somebody what to do.

My coment was in response to all the people financing bikes and crashing them, i just proposed an alternative, that's all.
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Old 10-16-2007, 10:44 AM   #18
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paid cash for 2000 zxr6.in 2000.had 3 mo. put 3k on it .gone one a.m. full coverage thank .they paid up.
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Old 10-16-2007, 10:45 AM   #19
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Quote:
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Not everyone's got 6 or 7 grand just lying around to buy a bike.

Financing is sometimes the only way.
actually you can buy a good used bike for 3000 to 4000 just save up your pennies. The number 1 characteristic of maturity is being able to put off pleasure. If you wait and save to buy a bike or whatever else you want (barring a house of course) you'll own it outright and owe noone for it. Might not be brand spanking new off the show room floor but it will be a nice 03-04 and every month you'll be able to just pay the insurance and put fuel in it and not owe anyone .
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Old 10-16-2007, 10:48 AM   #20
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of coarse they valued it 2k less than i paid.i fought them and got it all.good lesson.3600 per year for ins. at 20 sounded like a lot, but it was first sportbike and i was concerned about wreckin it.or theft.i was right.
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