How stupid is this?

Message

Kyinal · #1 Unread post by **Kyinal** » Tue Oct 17, 2006 11:20 pm

I think my passions are getting the best of me, and I need a few opinions.

I started riding over the summer, riding a 1988 Honda CBR-600 Hurricane. Not the best learning bike, but I couldn't find a running Ninja-250 or 500 in my price bracket ($1000) even after 2 months of looking. I've got about 5,000 miles behind me on it, but now I have major problems, blown fork seals ect, and parts are no longer made for it...it's really reached the end of it's serviceable life. I can't really ride it, and I don't want to put money into it to fix it.

I just switched jobs, and I'm a college student. When I went in to see if I could finance, I pretty much got laughed out the door at 2 dealerships.

I do have one asset, a 2006 Suzuki Aerio I bought to commute to my old job, which I was laid off from...not a cool car, but reliable transport with a good warranty.

Now though, I don't need to commute to work in a car, I live downtown in Portland Oregon, and work there as well. I want to sell my car, buy a bike, preferably new so I have a warranty, a cheap used car, and pocket the leftovers....but, this doesn't -seem- sensible, in fact, it's bad financial planning.

But, the alternative is no bike, and the withdrawl is rather unbearable.

So, am I insane for even considering that?

Meanie · #2 Unread post by **Meanie** » Wed Oct 18, 2006 1:55 am

I think you know the answer. In life, sacrifices have to be made. If you cannot ride for the time being, wait until your finances are in order.

dzervit · #3 Unread post by **dzervit** » Wed Oct 18, 2006 3:27 am

^^ What he said.

CNF2002 · #4 Unread post by **CNF2002** » Wed Oct 18, 2006 3:47 am

Save up and buy something with cash. College students dont need to be financing anything. Interest, depreciation costs, maintenance costs, full coverage insurance costs...not what a person with a part time unsecured job needs. Buy another old bike. Last thing you want on your mind is worrying that because you lost your job and haven't found one within a few weeks they are going to reposses your vehicle because you can't make the payments.

#5 Unread post by **fireguzzi** » Wed Oct 18, 2006 8:46 am

If you live in the city, buy the bike and use public transportation when you can't ride.

Twisty13 · #6 Unread post by **Twisty13** » Thu Oct 19, 2006 6:37 am

Yeah man, I'm from portland also and rode Tri-met for a while after I trashed my bike. Nothing wrong with that. Plus the Portland rain is coming and won't leave until May. So take your losses and just save up as much as possible, then buy the bike you want in April. That's what I did, I missed a whole riding season, but I was happy when I bought the bike that I wanted, instead of being stuck with something that's gonna be in the shop constantly or is not safe to ride. A nice F3 or F4 will go for about 3 or 4 grand, and will run forever.

MotoF150 · #7 Unread post by **MotoF150** » Thu Oct 19, 2006 11:33 am

I live in a College Town, all the college kids have bikes, mostly crotch rockets, they too get laughed at when they want dealer financing, all they need is a co-signer and any of the motorcycle credit cards will approve you. What the kids do here is ask their girlfriend to co-sign the bike credit card application and they walk out with a brand new bike with no money down, after that they break up with their girlfriend, they never make the minium monthy payment for the bike, then the credit card co. bills the former girlfriend for the bike, while shes paying the bill ur out enjoying yourself with ur new, free bike, and all the girls love you young guys with bikes so you can find a new girlfriend. Make sure you register the bike in ONLY your name, and keep a chain and a lock keeping the bike locked up all the time so the repo man can't take it. The former girlfriend can't legally take your bike if she pays for it when its only in ur name.

flynrider · #8 Unread post by **flynrider** » Thu Oct 19, 2006 1:01 pm

MotoF150 wrote: What the kids do here is ask their girlfriend to co-sign the bike credit card application and they walk out with a brand new bike with no money down, after that they break up with their girlfriend, they never make the minium monthy payment for the bike, blah, blah, blah....

What color is the sky in your world?

CNF2002 · #9 Unread post by **CNF2002** » Thu Oct 19, 2006 1:19 pm

MotoF150 wrote:I live in a College Town, all the college kids have bikes, mostly crotch rockets, they too get laughed at when they want dealer financing, all they need is a co-signer and any of the motorcycle credit cards will approve you. What the kids do here is ask their girlfriend to co-sign the bike credit card application and they walk out with a brand new bike with no money down, after that they break up with their girlfriend, they never make the minium monthy payment for the bike, then the credit card co. bills the former girlfriend for the bike, while shes paying the bill ur out enjoying yourself with ur new, free bike, and all the girls love you young guys with bikes so you can find a new girlfriend. Make sure you register the bike in ONLY your name, and keep a chain and a lock keeping the bike locked up all the time so the repo man can't take it. The former girlfriend can't legally take your bike if she pays for it when its only in ur name.

Funny...but stupid. Cosigning puts the debt on both persons, not just the cosigner. You ruin your credit anyway and the cosigner can file a lawsuit against you for the balance. Also your sweet ex can take your bike whenever she wants. Maybe with your new girlfriend still on the back.

WVUChrome · Thu Oct 19, 2006 1:20 pm

MotoF150 wrote:I live in a College Town, all the college kids have bikes, mostly crotch rockets, they too get laughed at when they want dealer financing, all they need is a co-signer and any of the motorcycle credit cards will approve you. What the kids do here is ask their girlfriend to co-sign the bike credit card application and they walk out with a brand new bike with no money down, after that they break up with their girlfriend, they never make the minium monthy payment for the bike, then the credit card co. bills the former girlfriend for the bike, while shes paying the bill ur out enjoying yourself with ur new, free bike, and all the girls love you young guys with bikes so you can find a new girlfriend. Make sure you register the bike in ONLY your name, and keep a chain and a lock keeping the bike locked up all the time so the repo man can't take it. The former girlfriend can't legally take your bike if she pays for it when its only in ur name.

Ya know, I thought the guys on here were just razzin you. Ya know, givin ya a hard time. I've since learned that that is not the case. You sir, are stupid. A wise man once put it this way, "modern medicine has the amazing ability to fix anything about your look you don't like. But ladies and gentlemen, you can't fix stupid."

Later,
WVUChrome...