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Posted: Thu Jun 01, 2006 1:34 pm
by flynrider
kellanv wrote: Next summer I'll have a really nice internship which should pay quite well, and most likely I'll pay the whole thing off with any luck.
Wow! I don't think I've ever seen the word "internship" and "pay quite well" in the same sentence before. Nice deal!
Posted: Thu Jun 01, 2006 1:48 pm
by kellanv
haha yeah if all things go as planned it should be a great deal. I'll be living in Virginia working at a very cool architecture firm. Probably a lovely place to ride too
Posted: Sat Jun 03, 2006 9:00 am
by 1will
don't finance the bike just for the sake of building credit. that's terrible reasoning, as was already pointed out.
Posted: Sat Jun 03, 2006 9:08 am
by kellanv
yeah it definitely isnt the only reason, just one of those things that are a factor. My credit rating is good as is.
However, given the fact that I did lose my regular job, I'll probably end up saving up for a big downpayment in the meantime so I can either buy a used bike in cash, or finance maybe half of a new one.
Posted: Sat Jun 03, 2006 9:44 am
by ofblong
kellanv wrote:yeah it definitely isnt the only reason, just one of those things that are a factor. My credit rating is good as is.
However, given the fact that I did lose my regular job, I'll probably end up saving up for a big downpayment in the meantime so I can either buy a used bike in cash, or finance maybe half of a new one.
a credit card is the only true good way to get your credit up. If you truly want to build credit read
www.creditboards.com to get started.
Posted: Sat Jun 03, 2006 10:14 pm
by MotoF150
Yes, I agree get a bike that you can afford to pay it off in one year, I can tell you some horror stories where some guys finance a new bike for 60 months and they could have bought 3 new bikes for what they are paying in interest rates im not going to say anything bad about Harleys, so im not going to say some guys that buy a new Harley find out later they can't afford it, they can't sell it for what they owe on it, don't get into that problem. Online there are tons of credit card sites that have a credit card calculator that you type in the amount you can afford each month then the interest rate and how long to pay it off in one year.
Posted: Sun Jun 04, 2006 4:50 am
by DieMonkeys
You do not need credit. There is no reason to "build" credit. It's all a myth that credit card companies have built into your psyche. Save the cash up then purchase the bike when you have enough to cover the bike + tax + etc. If you don't like waiting (which is why credit cards were invented, to play on the impatience of americans, just another company taking advantage of ignorance) then sell some crap on Ebay that you havn't used in a year and don't really plan on using again. I'm doing that right now with my paintball guns. I'm saving up for a Ninja ex250 right now and I'll tell you right now I know how you feel, how badly you want this bike and what you're willing to go through to do it (hell through loans!). I'm here for you, if you feel like you're going to go out and get that loan send me a PM and wait for me to respond, I'll talk you out of it. Kind of like if you were in Alcoholics Anonymous? I'm your sponser, and I'm there for you.
Oh yeah, and go read one of Dave Ramsey's books, he'll tell you all about the mythos behind credit cards and the lies they've been feeding you.
Posted: Sun Jun 04, 2006 5:29 am
by kellanv
heh, a little on the extreme side but true.
Regardless of hype or not, you need some sort of credit history in this world to really do too much. I have my own house(yes at 22) and I've kept up payments etc so my history is actually pretty good. My family actually usually pays up front in cash, or at least 1/2-3/4 of it which I plan to do at this point.
Like I said, it wasnt a main reason. Right now I think I'm going to find a cheaper used bike that I really wont mind dropping then eventually when I get a higher income get something that I really want(Ducati Monster etc) that way I will hopefully be past most of the "drop your bike at a stoplight" phase.
A bike will come soon enough I'm sure.
And PS: A fellow 'baller huh? I used to play tournaments a few years back. I have some really fond memories of that sport, too bad most of the other people involved are usually little kids with way too much ego for their own good.
Posted: Sun Jun 04, 2006 6:18 am
by bok
too bad most of the other people involved are usually little kids with way too much ego for their own good.
the same could be said about motorcycling sometimes
sounds like you have your brain on pretty straight there, by all means buy yourself a used bike for cheap and a shop manual, learn to ride and do general maintainence and then after a bit, get that dream bike.
Posted: Sun Jun 04, 2006 10:42 am
by ofblong
DieMonkeys wrote:You do not need credit. There is no reason to "build" credit. It's all a myth that credit card companies have built into your psyche. Save the cash up then purchase the bike when you have enough to cover the bike + tax + etc. If you don't like waiting (which is why credit cards were invented, to play on the impatience of americans, just another company taking advantage of ignorance) then sell some "crumb" on Ebay that you havn't used in a year and don't really plan on using again. I'm doing that right now with my paintball guns. I'm saving up for a Ninja ex250 right now and I'll tell you right now I know how you feel, how badly you want this bike and what you're willing to go through to do it (hell through loans!). I'm here for you, if you feel like you're going to go out and get that loan send me a PM and wait for me to respond, I'll talk you out of it. Kind of like if you were in Alcoholics Anonymous? I'm your sponser, and I'm there for you.
Oh yeah, and go read one of Dave Ramsey's books, he'll tell you all about the mythos behind credit cards and the lies they've been feeding you.
hmm without credit you wont get a house at least you will have a very hard time doing so. Lets face it not many (even if they are smart with $$$) can afford to pay $150,000 for a brand new house (thats the avg house so I am going by avg and not necessarily being specific to location). thats in america btw.