Decision swayed - Suzuki GSXS1000 Forum
User Tag List

 5Likes
  • 5 Post By CaptainSlow
 
LinkBack Thread Tools
post #1 of 7 Old 09-19-2016, 05:23 PM Thread Starter
Senior Member
 
Join Date: Jul 2015
Location: Sacramento, CA
Posts: 216
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 63 Post(s)
(Thread Starter)
Decision swayed

Hello again, I posted another thread regarding getting a naked or faired bike, well after some thought i decided for now I am going to go with the naked bike, in black/red or course. When March comes I'll have 3 grand in cash and 6 grand on a loan from my bank for a total of 9 thou to buy my bike, don't want to really finance an additional 2 thou+ on top of that. I've seen nakeds being sold for $8499 MSRP so i figure i could probably get the bike for 10 OTD, or go the used route. So i guess for now the naked it is, thanks again for the feedback guys.
Rhyno54 is offline  
post #2 of 7 Old 09-19-2016, 08:07 PM
Senior Member
 
Join Date: Apr 2016
Location: Ontario
Posts: 259
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 105 Post(s)
It's gonna take you 6 months just to save up a measly 3 grand? And you'll still have to get a loan? How old are you? I hate to say it but I don't think you should buy this bike. The GSXS is a nice bike but it's not worth jeopardizing your financial future over. I would never finance a bike. I won't even finance a car, bought my current car with cash. You shouldn't finance a depreciating asset, especially not something that's just a toy, which is what a bike is, unless it's your primary mode of transportation. Get whatever you can afford without a loan. Plenty of decent bikes for 3k.
Czechmate, Rusty, vnuh and 2 others like this.
CaptainSlow is offline  
post #3 of 7 Old 09-19-2016, 08:44 PM
Member
 
Join Date: Jul 2016
Location: syd au
Posts: 98
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 53 Post(s)
Low interest rates now.
Look at your payments and decide if it is value for money.
What will the real sale value of the bike be once payed off.
How much will the bike really cost you with interest and maintaining.
MR BOOST is offline  
 
post #4 of 7 Old 09-19-2016, 10:45 PM
Senior Member
 
DTM74's Avatar
 
Join Date: Sep 2015
Location: SF Bay Area
Posts: 336
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 91 Post(s)
Factor in full coverage insurance as well ($700-800/yr). I think if I was strapped for cash, I'd buy something cheaper used.
DTM74 is offline  
post #5 of 7 Old 09-20-2016, 03:30 AM
Senior Member
 
Join Date: Apr 2016
Location: Australia.
Posts: 911
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 316 Post(s)
Ryan may have a parental backer who is his fallback if things go pair shaped. Like getting in a write off prang with an uninsured driver, theft of his new bike and an insurance company playing hard ball with his claim, losing his job, etc. etc.
In my early days I used Bank Personal loans to buy used cars and bikes, but covered the amount by cash in the same Bank.
It placed me in good stead when I asked for more upgrading House Purchase loans as I had demonstrated to them that I could manage money and repayments.


He is showing his good taste though - Red & Black Naked.
That's Extra coin back in the pocket at trade in time (see those flying pigs, anyone?).


Rob.
Slower and Slower is offline  
post #6 of 7 Old 09-20-2016, 06:11 AM Thread Starter
Senior Member
 
Join Date: Jul 2015
Location: Sacramento, CA
Posts: 216
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 63 Post(s)
(Thread Starter)
I guess I was a little vague in my statement, the bike payment with full coverage Ins. is just under $250.00 a month, full coverage for me is $57 a month through State Farm. My car's paid for, and the 250 a month is well within my budget, no parental backer, my interest rate is less than 10%, my credit score is just over 700 right now and as slower and slower stated I have money in my savings account with the bank that gave me the loan.
Rhyno54 is offline  
post #7 of 7 Old 09-20-2016, 06:12 AM Thread Starter
Senior Member
 
Join Date: Jul 2015
Location: Sacramento, CA
Posts: 216
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 63 Post(s)
(Thread Starter)
more than likely though i'll probably end up getting a used red/black naked anyway
Rhyno54 is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Suzuki GSXS1000 Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome