What should I do

I'm still not sure what the problem is really. With the airplane out of the picture I can afford to live comfortably, have nice toys, and still put some dollars into savings at the end of te month. I wanted a new toy.
 
DavidWhite said:
I'm still not sure what the problem is really. With the airplane out of the picture I can afford to live comfortably, have nice toys, and still put some dollars into savings at the end of te month. I wanted a new toy.
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Nothing wrong with wanting a new toy or any other discretionary item. That is, when you can pay for it cash on the barrel head. The fact you got it for $4k under retail means you paid about $6k more than one a couple years old with a lot of remaining life. I stayed out of this until you inquired. Sorry if it's not what you wanted to hear.
 
DavidWhite said:
I'm still not sure what the problem is really. With the airplane out of the picture I can afford to live comfortably, have nice toys, and still put some dollars into savings at the end of te month. I wanted a new toy.
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Then it shouldn't take long to save up the cheese and pay for it. ;)

If you want to build credit, there are cheaper and better ways to do it.
If you want a new bike, there are cheaper and better ways to procure one.
"I can afford" = I have the cash on me and plopping it down won't effect my lifestyle at all.

The saying "the borrower is slave to the lender" wasn't pulled out of thin air.

I thought mortgages were the exception to that...having just got my first mortgage on a place that cost about 25% of what we qualified for....I no longer hold that belief. Next house will be a cash deal or no deal.
 
You want four good reasons? Try Dec, Jan, Feb, Mar when you're forking over that payment every month during the deep-freeze when two-wheelers are stuck so far back in the garage you can't find them with a search-party.

DavidWhite said:
I'm still not sure what the problem is really. With the airplane out of the picture I can afford to live comfortably, have nice toys, and still put some dollars into savings at the end of te month. I wanted a new toy.
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So you asked us what you should do and then ignored it all and did what you wanted. Glad we could help!
 
SCCutler said:
I'm still wrapping my pea-brain around the notion of a 650cc motorcycle being inadequate for a 160 lb rider and his - what? - 120 lb? girl...
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Mary can explain it to you, Spike. She doesn't like riding on the back of my GSX-650F.

It's not the displacement, its the seat.
 
Woulda been cheaper to get her a Ninja 250 of her own.
 
saracelica said:
So you asked us what you should do and then ignored it all and did what you wanted. Glad we could help!
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Exactly why I did not give any advice and don't plan to for the future rounds of questions. The pattern is predictable.

If you can't stop a train wreck you might as well grab some popcorn.
 
DavidWhite said:
I'm buying another motorcycle and my bank has sent the dealer drafting instructions (they are sending a check in the mail)

The dealer wants me to write a personal check as collateral just in case my bank doesn't actually exist or something. I'm about to tell them to go **** themselves and walk out the door. Is that standard procedure (the check thing?)
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DavidWhite said:
What would I ignore?
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Aren't these the only questions he asked in this thread? :confused::confused:
 
Greg Bockelman said:
I would offer my advice, but I am pretty sure it would be unappreciated.
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Ted DuPuis said:
And ignored.

I have the same opinion as you.
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DavidWhite said:
What would I ignore?
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Advice that you wouldn't have wanted to hear. From folks significantly older than you, some of whom would be offering advice based on personal experience. Like what the orthopedic surgeon who put my wife and me back together in college after a clown ran a stop sign and hit us broadside called motorcycles - murdercycles. Needless to say, he wasn't a fan. And, yes, we were wearing helmets. BTW, in high school and college I knew 4 people who needed helmets (including us). 3 had helmets and are alive today. One did not and he died at the scene. Limited sample, 100% correlation. Draw your own conclusions. And about 39 1/2 years later we still suffer from that accident. Best of luck.

SCCutler said:
I'm still wrapping my pea-brain around the notion of a 650cc motorcycle being inadequate for a 160 lb rider and his - what? - 120 lb? girl...
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I was wondering the same thing. :D Got to have a lot more get up and go than the Honda CL-175 we were riding when we got hit.
 
Ted DuPuis said:
Exactly why I did not give any advice and don't plan to for the future rounds of questions. The pattern is predictable.

If you can't stop a train wreck you might as well grab some popcorn.
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Now I know what to throw at him next time I see him land at Gaston's or other fly in.
 
Jay Honeck said:
Mary can explain it to you, Spike. She doesn't like riding on the back of my GSX-650F.

It's not the displacement, its the seat.
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Got it; I was principally focusing on the performance aspect of his post,

Well now that I've got a girlfriend I've decided that I wanted something sporty but was comfortable and had enough power to ride with 2. (Ninja 650 would barely ninja with 2)

but I note that he also mentioned, "comfortable."
 
saracelica said:
So you asked us what you should do and then ignored it all and did what you wanted. Glad we could help!
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I asked for specific advice and then got told basically I was dumb - advice not even close to pertaining to the original question.
 
When people hear the financial equivalent to "Hey, hold my beer. Y'all watch this!" you can expect those who know it's damn-fool mistake to respond to the post.

DavidWhite said:
I asked for specific advice and then got told basically I was dumb - advice not even close to pertaining to the original question.
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DavidWhite said:
I asked for specific advice and then got told basically I was dumb - advice not even close to pertaining to the original question.
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The vast vast majority of the population holds the belief that getting a loan on a vehicle is one of the best ways to build credit. But it's a common misconception. The thought of saving up and paying cash for big purchases never even crosses their minds, and many people don't believe in buying used vehicles either.

The interest rate differential between the loan and a credit card is irrelevant. I think you realize that you did not take out a loan and buy this motorcycle because it would build your credit. You did it because you wanted to buy a motorcycle. Was it a terrible idea? No. Was it a great financial decision? No.

As mentioned, there are "free" ways you can build credit.

I think it's obvious that the membership here must be doing something right in the financial department in order to afford their expensive avocation. They're giving advice that most people will never get, so take advantage and ask yourself what you might have done differently. People fall into financial traps when they spend money emotionally.
 
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wabower said:
When people hear the financial equivalent to "Hey, hold my beer. Y'all watch this!" you can expect those who know it's damn-fool mistake to respond to the post.
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:yeahthat:
 
It's one thing to offer advice based on your past experiences, but it's quite another to call him foolish and irresponsible. Get off his back.

How many of you bought your house, car, or plane with cash? An airplane is a toy too. Why would you not pay cash for it?

How about because it costs more than you have currently have and you would like to take advantage of it before you die?

Admittedly, a motorcycle is more of a "toy" than the other purchases. I purchased my cars either cash or on "zero" interest. And I keep them until they rot out from under me.

As to 250K/year not being enough to live on in 30-40 years, poppycock. It will certainly not buy what it does today, but it will certainly be a good start. A very good start. With reasonable financial planning, you can easily make it on much much less. You are speaking to a wide range of income earners. Some of us own planes, multiple houses, cars, motorcycles, and we did it on less than 80K per year combined household income. I'd absolutely love to make 250K a year. But I do not, so I have to make due with what I have. True, we don't spend on anything extraneous, but we don't go without. We spend most of our money on helping out the kids and grandkids. And we have enough to do that.

Don't force your brand of financial "wisdom" on everyone else. Be happy for the guy and congratulate him on his new "toy."

Be careful riding it, though.
 
Sorry, dude, you need to have watched more than one segment of this ongoing soap opera to get the picture.

Aztec Driver said:
It's one thing to offer advice based on your past experiences, but it's quite another to call him foolish and irresponsible. Get off his back.

How many of you bought your house, car, or plane with cash? An airplane is a toy too. Why would you not pay cash for it?

How about because it costs more than you have currently have and you would like to take advantage of it before you die?

Admittedly, a motorcycle is more of a "toy" than the other purchases. I purchased my cars either cash or on "zero" interest. And I keep them until they rot out from under me.

As to 250K/year not being enough to live on in 30-40 years, poppycock. It will certainly not buy what it does today, but it will certainly be a good start. A very good start. With reasonable financial planning, you can easily make it on much much less. You are speaking to a wide range of income earners. Some of us own planes, multiple houses, cars, motorcycles, and we did it on less than 80K per year combined household income. I'd absolutely love to make 250K a year. But I do not, so I have to make due with what I have. True, we don't spend on anything extraneous, but we don't go without. We spend most of our money on helping out the kids and grandkids. And we have enough to do that.

Don't force your brand of financial "wisdom" on everyone else. Be happy for the guy and congratulate him on his new "toy."

Be careful riding it, though.
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Ted DuPuis said:
:idea:
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He was home-schooled, so maybe Latin wasn't part of the curriculum. In any case he should go back and study res ipsa loquitur until he gets the picture.

Or if that's too much trouble, watching a re-run of F. Gump would be equally informative as to this issue.
 
wabower said:
Sorry, dude, you need to have watched more than one segment of this ongoing soap opera to get the picture.
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"Dude?"

I have read about his "impulsiveness." Seems he is working on it for quite some time. Faulting him for purchasing a motorcycle on credit just seems a little harsh. If he analyzed his financial situation, and can afford it, along with the interest, who are we to tell him to get rid of it?

Besides, we all have to learn from our mistakes. Heck, I became a pilot. I really should have had my head examined back then.:D
 
Who are you going to sell it to once you move to that job flying 207s up in Alaska (the gig hauling tourists around Hawaii in a twin, the job flying a Caravan to a Bahamas resort that comes with transition training, the right seat in a Hawker out of Dubai) ?
 
wabower said:
He was home-schooled, so maybe Latin wasn't part of the curriculum. In any case he should go back and study res ipsa loquitur until he gets the picture.
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Fancy words from a fellow Okie...
 
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