Never Buy Motorcycles On Finance

Рет қаралды 1,676

8 ай бұрын

Never Buy Motorcycles On Finance? Is buying a motorcycle on finance the best decision or should you buy with cash? Should you only buy motorcycles on finance if they are brand new? Buy motorcycles on finance if you are likely to sell within a couple of years? Would you buy used motorcycles on finance or should you only ever buy with cash or other financing means
#MotorcyclesOnFinance #BikeFinance #Cash4Bikes
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Пікірлер: 19

@RevelatorAlf 9 ай бұрын

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@markh.harris9271 8 ай бұрын

There are two ways to finance a motorcycle in the States: 1) amortized loan, 2) leasing. Both of these options allow a person to ride a motorcycle when they can not afford it; however, both of these options are extremely expensive overall... usually, many times what the bike is worth... just for instant gratification. Save for your motorcycle. Start a fund, make interest-free payments to yourself, and then purchase that bike of your dreams with cash. NEVER finance a motorcycle. Is this possible? If you work hard, balance your priorities, and are patient. I have owned five motorcycles, three of them (my current two), Harley-Davidson. I purchased all five with cash. I got them for MSRP or lower, and I paid no finance fees or interest. NEVER finance a motorcycle. marcus

@johnmartin7158 8 ай бұрын

Is it better to be patient and take 2 or 3 years to save the money, otherwise you end up paying double nearly.

@markh.harris9271 8 ай бұрын

@johnmartin7158 , precisely. If you can afford to make interest payments for seven years, then you can afford to make payments to yourself for three years and save yourself a bucket load of interest and finance charges.

@robertstone6874 8 ай бұрын

I am fortunate enough to have paid cash for my last two purchases. Whenever I did finance a motorcycle, I always saved at least 50-70% of the purchase price for a down payment and took advantage of low interest rates. I almost always buy in the winter when dealerships are eager to make deals. I also would never pay 20K plus for any motorcycle, or strap myself with a huge debt on what I consider a toy.

@knightalumni 8 ай бұрын

Bought my SG on finance. My finance charge is $6 a month…

@my.motorrad 8 ай бұрын

I wonder what the differences between financing in Europe/UK and the states? BMW has a lease like plan called easy ride or something like that. After 3 years there’s a big payment due. The other bike manufacturers don’t do that. I financed mine with more than 20% down and paid it off early. If people purchased only with cash, the economy would collapse. In the last 40-45 years I’ve seen an increase of consumer debt and flat salaries, which shifts capital up the food chain where it has less velocity. Cui Bono? Different subject though…

@Fr1ndal 8 ай бұрын

Can't see any problem with low % Hire Purchase. I would agree about PCP it's quite tricky.

@jonwragg3822 8 ай бұрын

On this basis you wouldn’t get a mortgage or buy a car on HP. Best advise is, can you afford the repayments and is it the best way to finance. Shop around, If you can get 0% APR deal then put your cash in an ISA and make some money on it.

@scootjockey 8 ай бұрын

I used to when i was worse off than now , now cash only.

@tonyj8947 8 ай бұрын

I'm in the USA and with financing auto/motorcycle loans there is no balloon payment. Typically, the best way to buy is to buy a pre-owned low mileage bike/auto because as soon as you leave the parking lot on a brand new bike the bike depreciates at least 20%. Contrary to my belief, I bought brand new and my intentions were to buy cash but by financing i got a better deal and an interest rate of 2.9% for 4 years with no pre-payment penalties. So, after my third monthly payment i paid it off in full.

@johnludmon7419 8 ай бұрын

The balloon payment applies to PCP deals (lease/buy finance) you get lower monthly payments but if you pay the bike off it costs more than a conventional loan. What they want you to do is trade the bike in and sign another PCP deal so you keep paying out and never owning the bike or car.

@tonyj8947 8 ай бұрын

@@johnludmon7419 It becomes like a revolving never ending rental.

@johnludmon7419 8 ай бұрын

@@tonyj8947 yes until the music stops.

@mauricecasey866 8 ай бұрын

I think you have turned the back ground music down but I had to skip. It is mind numbing. I am curious as to what you think it adds? Thumbs up anyway.👍

@RevelatorAlf 8 ай бұрын

Different viewing experiences really

@ejdtm 8 ай бұрын

I’m guessing “on finance” is a lil different than the states. We throw 20% down then make payments and then we own it.

@michaelkozak7295 8 ай бұрын

The whole world is run on credit... countries, states, counties, cities, you and me. 90% of purchasing is done on credit unless your independently wealthy... nice idea BUT !! Shiny side up.. 👍