View Full Version : I know youre out there, tell me why financing this didnt make sense.
Eurodriver
08-24-13, 21:50
0% APR and i got it priced for $2000 less than MSRP out the door.
0%. It doesn't even make sense for me to pay it off early. My cash is accruing interest and I'm not losing any money to it.
But since there are a ton of people on here smarter than I am, am I mistaken?
I'm pretty psyched. 5 year OEM warranty unlimited mileage.
http://i40.tinypic.com/6iuzad.jpg
montanadave
08-24-13, 21:57
I refuse to be the one to rain on your parade.
Looks like a blast. Enjoy!
If you have an emergency fund that will cover you for 6+ months for a worst case scenario, have your credit cards paid off and are still putting money away for retirement then have a blast with your new toy!
mainly because you could have bought a bike that was 3 years older and paid half as much and have the title in your hand.
im on bike number 10 and have never financed a single one.
No idea what bikes are running for and if you can get a three year old model used for half MSRP. My old man just bought a new truck, 3 year old model was 5K under what he bought his new one for and at a lower rate. Anyway, to the OP, if it makes your dick hard then rock on, sometimes you got to do what makes you happy.
The only thing you are loosing is the depreciation on the value of the bike. Nice bike by the way!!
Just make sure you wear a helmet.
why I work to buy things I like and want :)
enjoy and yeah 0% your not loosing money on that side
even used bikes depreciate ?
I buy a few things new bikes were one of them I used to race MX big time and the way I rode bikes I would never want one of my bikes :)
same with my street bikes I had I rode them insane hard sometimes its nice if you plan on having it a while to start new
FromMyColdDeadHand
08-25-13, 01:50
Theoretically you should have been able to get a cash price to reflect the cost of not having them float you the money. Rates are low, but it still has to be costing the company something to float that cash and run the program.
I'm not saying that it was an option (though it is often a cash rebate or reduced financing rates)- I'm just saying from the costs the dealer or manufacturer or distributor is facing.
Just enjoy the bike. All the price and cost stuff doesn't matter until you try to sell it and then you can figure out how much it really cost you for how much use and enjoyment you got out of it.
You need some Round-up on your drive way....
Enjoy the bike!
But to your question, the part not addressed is the risk of the debt, should you fall on hard times. If you have the cash to pay for it outright, then I guess your risk is better-addressed (and that looks to be the case based on the pic). But I always like having an asset (even if it is depreciating) versus a liability.
Should I fall on hard times, my assets can always smooth out the bump by my selling them. Liabilities, less so, and in some cases even worse (depending on equity).
Eurodriver
08-25-13, 08:53
even used bikes depreciate ?
This is an excellent point.
I'm not saying that it was an option (though it is often a cash rebate or reduced financing rates)- I'm just saying from the costs the dealer or manufacturer or distributor is facing.
I agree. They can't float 0% without jacking up the price of the bike. Theoretically a cash deal should have been able to get a lower price because they would not have had to pay for financing...but my question is then - how much lower? Sure, interest rates in savings accounts, let alone checking accounts, are so low they yield almost no returns but there has to be a benefit to having $10,000 in liquid cash in the bank as opposed to making a monthly, interest free payment?
You need some Round-up on your drive way....
You're telling me. We have been getting 3" of rain every week for the past few months. My backyard looks like Vietnam.
Why no zx10r?
Because I'm not mature enough to handle a ~180 RWHP Motorcycle. Honest truth.
No idea what bikes are running for and if you can get a three year old model used for half MSRP. My old man just bought a new truck, 3 year old model was 5K under what he bought his new one for and at a lower rate. Anyway, to the OP, if it makes your dick hard then rock on, sometimes you got to do what makes you happy.
My biggest issue with used bikes is condition. Especially these kinds of bikes. Would I ever buy a car brand new? Hell no. I just couldn't fathom throwing away thousands of dollars as soon as they handed me the keys.
But have you seen the market for sport bikes? It absolutely varies with location, I'm sure in the fall up north motorcycle prices drop tremendously. Florida doesn't have that luxury and I've been looking hard at bikes since I sold my CBR600. Not to mention every dickweed riding a bike has dropped it, added some homosexual purple wheels and lime green neon lights to it, or wants $8999 for it when its only worth $5500.
With this purchase I have a 5 year unlimited mileage OEM factory "tire-to-tire" warranty. To me, that's huge.
I know it sounds like I'm doing a lot of "justifying my purchase", and I know I specifically asked for reasons why I messed up so please believe me when I say I appreciate the information provided and I'm not getting defensive in tone at all. I know that can be hard to tell online at times.
Eurodriver
08-25-13, 08:56
http://i40.tinypic.com/2mepe1c.jpg
Voodoo_Man
08-25-13, 08:59
New is best, factory warranty is also best.
grats on the bike.
I'm not a big fan of Kawi's & out of the big four, I think they're on the bottom. JMO
But for 0% & YOU like it, you gotta do it. Enjoy & be safe!
*EDIT* Due to external heat bestowed upon me by a great friend (nonM4C member/lurker and who is a former roadracer/Kawi pilot) & also out of respect for the OP (whom I feel is a good guy & don't want to insult), I would like to publicly retract my statement regarding my opinion of Kawasaki sport bikes.
Go Team Green!! :D
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I'm not a big fan of Kawi's & out of the big four, I think they're on the bottom. JMO
But for 0% & YOU like it, you gotta do it. Enjoy & be safe!
Sent via Tapatalk
They're all the same. The technology and quality from each runs in small waves. You can't go wrong buying from any of the majors.
Hunter Rose
08-25-13, 09:53
People tend to forget about the future cost of a dollar when looking at this stuff too. No idea what bikes cost, but factoring in inflation, paying $10K in cash today costs more than paying $10K at 0% over four years, since those future dollars are worth less. You could be only paying 90 cents on the dollar in year four, so there is some savings for 0% financing.
From a purely economics point of view, if that's the lowest price you could negotiate and you have all the cash on hand, it makes zero financial sense to write a lump sum check as opposed to stretching the payments into the future.
They're all the same. The technology and quality from each runs in small waves. You can't go wrong buying from any of the majors.
To an extent. I've competed on all four, including Buell & Aprilia for several years. I've noticed differences in manufacturing, ease of maintenance, handling characteristics, etc. within the different brands. For street riding, they'll all do well. From a competition POV, all will have their ebbs & flows of success but others have enjoyed the top more often. In my experiences, I was least impressed with the Kawi's that I rode. They look good though.
BTW, this isn't meant as a dig or to sound rude, not my intention. Just stating my experiences. I also don't want to derail the OP based on my opinion of the manufacturer. This is more of a question of economics than the manufacturer.
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Five_Point_Five_Six
08-25-13, 10:26
They're all the same. The technology and quality from each runs in small waves. You can't go wrong buying from any of the majors.
People say that about AR's too, and we all know how wrong they are.
Free money is free money
Nice bike
People say that about AR's too, and we all know how wrong they are.
Figured this was coming. The big four are not all building clones of a Brough Superior. My statement was not made lightly or without experience. I started working on motorcycles nearly 35 years ago. I did it professionally for over a decade. Each of the manufacturers has niches that they fill, and fans to go along with all of that.
Crow Hunter
08-25-13, 11:55
0% APR and i got it priced for $2000 less than MSRP out the door.
0%. It doesn't even make sense for me to pay it off early. My cash is accruing interest and I'm not losing any money to it.
But since there are a ton of people on here smarter than I am, am I mistaken?
I'm pretty psyched. 5 year OEM warranty unlimited mileage.
http://i40.tinypic.com/6iuzad.jpg
I personally am usually very wary of 0% deals due to TANSTAAFL. There is usually a catch in there somewhere.
However, if you have the cash needed to pay it off and you are getting some type of return on it, unless you could have gotten a significant discount on the bike with cash that would be greater than what you could earn with that money, I probably would have done it too.
I got $2,500 off my truck when I bought it because I financed $5,000 for 3 months since Ally was running a special rebate to the dealer if they could get get a customer to use them. I paid like $40 or so in interest to save $2,500 off of the cash price.:D
Just make sure there aren't any "Gotcha's" hidden in your paper work related to something changing and allowing them to increase your interest rate. Sometimes they will add something in there that will bump up your interest rate for some type of completely unrelated factor.
Otherwise, enjoy the bike. Everyone needs to spend some of their money on stuff they enjoy, that is why we work.
FromMyColdDeadHand
08-25-13, 21:57
I personally am usually very wary of 0% deals due to TANSTAAFL. There is usually a catch in there somewhere.
TANSTAAFL
Transexual assholes not satisfied to ask another frank locution?
Just make sure there aren't any "Gotcha's" hidden in your paper work related to something changing and allowing them to increase your interest rate. Sometimes they will add something in there that will bump up your interest rate for some type of completely unrelated factor.
Like getting a speeding ticket. ;) There was some insurance or finance company that was doing that or something similar. You are 'riskier' if you get a ticket...
Money is my business. If you have the $10M set aside working for you over the next few years, you come out a huge winner. I always look for the potential for free/low cost money.
Crow Hunter
08-26-13, 07:10
TANSTAAFL
Transexual assholes not satisfied to ask another frank locution?
Like getting a speeding ticket. ;) There was some insurance or finance company that was doing that or something similar. You are 'riskier' if you get a ticket...
:D
There Ain't No Such Thing As A Free Lunch.
Wiki Link (http://en.wikipedia.org/wiki/There_ain't_no_such_thing_as_a_free_lunch)
Interesting interpretation though.
:D
Money is my business. If you have the $10M set aside working for you over the next few years, you come out a huge winner. I always look for the potential for free/low cost money.
Completely agree. This is why I'm always baffled when my buddies (25-35 yrs old) are in a hurry to pay off houses. Why tie up cash in an illiquid asset that they'll live in for 5-7 years? No thanks.
Eurodriver
08-26-13, 07:39
Completely agree. This is why I'm always baffled when my buddies (25-35 yrs old) are in a hurry to pay off houses. Why tie up cash in an illiquid asset that they'll live in for 5-7 years? No thanks.
Care to explain?
If you have a 30yr mortgage and pay it off in 20 years, you saved 33% of the interest. At today's housing prices and interest rates that could easily be $50,000.
Care to explain?
If you have a 30yr mortgage and pay it off in 20 years, you saved 33% of the interest. At today's housing prices and interest rates that could easily be $50,000.
Everyone always extrapolates it out to 30 years. Your longest period living in a home is what? Not when you were with your parents, your average length of ownership? For me it's about 4 years, so stretching out my interest savings over 30 is an exaggerated exercise.
My philosophy is that a mortgage is a service and like all services, it has a fee. Obviously everyone's different in terms of tolerance but 2-3% is a damn good 'fee', and anything under 6-7% is historically still very good.
I'm willing to pay this fee because as of yet, I haven't been in a home for very long. So I would be 1. unable to pay the house off and 2. wouldn't realize much savings in doing so, in terms of interest.
I'm also willing to pay this fee because I'm a 'cash is king' kinda guy. I would much rather have a ton of cash in savings than tied up in a home. God forbid you have an uncovered medical expense, would you rather have the cash in the bank or own your home? Has your home appreciated? Can you sell it quickly? Etc...
I like having a 'buffer' for a crash or like event, so I'll put 20-30% down usually, but after that...I have no motivation to pay anything over principal+interest.
I'm underway with my first build currently and maybe I'll stay there a while since we're designing it specifically for our family. Who knows. But I'll likely still continue to stay as liquid as possible.
steyrman13
08-26-13, 08:03
Everyone always extrapolates it out to 30 years. Your longest period living in a home is what? Not when you were with your parents, your average length of ownership? For me it's about 4 years, so stretching out my interest savings over 30 is an exaggerated exercise.
My philosophy is that a mortgage is a service and like all services, it has a fee. Obviously everyone's different in terms of tolerance but 2-3% is a damn good 'fee', and anything under 6-7% is historically still very good.
I'm willing to pay this fee because as of yet, I haven't been in a home for very long. So I would be 1. unable to pay the house off and 2. wouldn't realize much savings in doing so, in terms of interest.
I'm also willing to pay this fee because I'm a 'cash is king' kinda guy. I would much rather have a ton of cash in savings than tied up in a home. God forbid you have an uncovered medical expense, would you rather have the cash in the bank or own your home? Has your home appreciated? Can you sell it quickly? Etc...
I like having a 'buffer' for a crash or like event, so I'll put 20-30% down usually, but after that...I have no motivation to pay anything over principal+interest.
I'm underway with my first build currently and maybe I'll stay there a while since we're designing it specifically for our family. Who knows. But I'll likely still continue to stay as liquid as possible.
If that was the case, it would be better to rent.
Read Dave Ramsey's book and then you can understand alittle bit more on why people do it. His theory is to first build up the rainy day fund. Basically 6-9 months worth of pay in savings. Then snowball your debt payments. Pay off highest interest and lowest debt first. ex credit card. Then that payment added to car payment, then those two towards house payment. Then you have the savings for emergency laid off, medical, etc. but you also don't own debt.
You aren't trying to pay of your "house", but your debt. If you pay off 50% in the 5-7 years, the next house if it is same value, then you only owe HALF on it, then 5-7 years later you owe nothing. Then the third house you can pay cash for when you sell your second house..... Then no monthly house payment except insurance and property tax total ~ $100 a month depending on where you are. Then you get back on the savings plan/investing plan with the 700-1800 a month you were spending on rent/house payment....700-1800 a month into savings or investment adds up QUICK!
If you want to finance, do it. If you buy it outright and not bother with payments, do that.
I guess an exception to my philosophy is if you can afford to do both properly. Meaning if you can afford to over pay and still have at least 1 years pay in savings, have college fund for kids, be contributing to an IRA, etc...
My BIL is a rare example, but he's single so no college/kid expenses to worry about. He's 30 now and has owned his home for 10 years. Put 50% down on it when he started college and has had a high bal savings account and has paid principal x2 + interest every month. So he can afford to be liquid in terms of cash on hand and pay his home off quicker. He's one of only a few I personally know that can afford to do that.
If that was the case, it would be better to rent.
I wouldn't take it that far, paying (within reason) towards ownership of an asset is a good thing.
Read Dave Ramsey's book and then you can understand a little bit more on why people do it. His theory is to first build up the rainy day fund. Basically 6-9 months worth of pay in savings.
I have read it, and I like some of it but don't like the rest (for me). Ex: I'm uncomfortable with 6-9mos of pay in savings. I'm comfortable at 2x that.
Then snowball your debt payments. Pay off highest interest and lowest debt first. ex credit card. Then that payment added to car payment, then those two towards house payment. Then you have the savings for emergency laid off, medical, etc. but you also don't own debt.
I don't have any 'bad debt'. No CCs with balances, no student loans. 1 car loan (0% for 6 years) and had one mortgage at 3% fixed. I am completely fine with paying towards ownership of an asset so long as the interest rate/'fee' is reasonable to me. If the bank is willing to give me free money, or loan it to me for a low fee, I'll take it all day. And sit on cash.
You aren't trying to pay of your "house", but your debt. If you pay off 50% in the 5-7 years, the next house if it is same value, then you only owe HALF on it, then 5-7 years later you owe nothing. Then the third house you can pay cash for when you sell your second house..... Then no monthly house payment except insurance and property tax total ~ $100 a month depending on where you are. Then you get back on the savings plan/investing plan with the 700-1800 a month you were spending on rent/house payment....700-1800 a month into savings or investment adds up QUICK!
Again, why do I have a motivation to pay off my debt when it's 'good debt'? We knew we wouldn't stay in our last house long...so we put 15% down, bought low...and waited. Turned around and sold it myself a month ago for a 13% gain. I bought it to make money on it and have a nice home for a few years, not to pay off and live in for 20-30 years.
That's great if you can get your principal under 50% in 5 years (that's a lot of overpayment) provided that I have 14-18mos pay in savings, college fund growing, and am contributing what I should to an IRA. The aforementioned accounts are a priority to me now much more so than owning a home outright. But I'm 27, those priorities will likely shift if I start to stay in a home for more than a few years.
steyrman13
08-26-13, 08:25
I have read it, and I like some of it but don't like the rest (for me). Ex: I'm uncomfortable with 6-9mos of pay in savings. I'm comfortable at 2x that.
I agree with you on that, especially in today's Job market. I think he is starting to recommend 1 year or more now based on the economy.
But I'm 27, those priorities will likely shift if I start to stay in a home for more than a few years.
They probably will, and he touches on that to try and live a minimalist life for 5-7 year period in you early to mid twenties and then live like Princes (or Kings depending on your job) the rest of your life.
Back to the OP, Make sure you set asside some money for medical expenses. Also, if you have family life insurance....Hopefully they will just turn into a nice savings account later one day.
They are fun! but not worth the risk that I encountered while riding.
I would rather have the 600 than 1000 as well, for a little more control and nimbleness.
Hunter Rose
08-26-13, 08:36
[QUOTE=munch520] Everyone always extrapolates it out to 30 years. Your longest period living in a home is what? Not when you were with your parents, your average length of ownership? For me it's about 4 years, so stretching out my interest savings over 30 is an exaggerated exercise.
[QUOTE]
It does not matter how long you're in each individual house. It does not matter if you pay a mortgage on 1 house for 30 years or pay mortgages on 10 different houses for 3 years each. You've still paid mortgage interest for 30 years.
Sitting on a lot of emergency cash is fine, but if it's only in a savings account earning 1-2% and you have a mortgage at 3-4% you're losing money unnecessarily.
They probably will, and he touches on that to try and live a minimalist life for 5-7 year period in you early to mid twenties and then live like Princes (or Kings depending on your job) the rest of your life.
Yeah I remember that excerpt and I agree with it.
It does not matter how long you're in each individual house. It does not matter if you pay a mortgage on 1 house for 30 years or pay mortgages on 10 different houses for 3 years each. You've still paid mortgage interest for 30 years.
I'm confused. So if I'm in a $300M house for 3 years at 3% interest OR in a $300M house for 30 years at 3% interest...you're saying I've paid the same amount in interest in either scenario? Assuming I'm paying minimum payments. :confused:
Sitting on a lot of emergency cash is fine, but if it's only in a savings account earning 1-2% and you have a mortgage at 3-4% you're losing money unnecessarily.
That's an interesting way to look at it (in terms of earning) and one I hadn't considered. I look at it more in terms of what I have 'on hand'. Liquid (savings acct) vs illiquid (house). Good point, to consider what each is earning, or costing, me.
Hunter Rose
08-26-13, 10:20
No, I'm saying that if you continually buy, rather than renting, that it does not matter if you only live in each house a couple years. Time per individual mortgage is irrelevant, its the total time spent paying a mortgage. Paying a mortgage on 3 different homes that I live in for ten years each is exactly the same as paying a mortgage on a single house for thirty years. 3x10=30 and 1x30=30. Either scenario, I'm still paying a mortgage for thirty years.
Go for it!
Just do someone out there a favor and become an organ donor, please.
No, I'm saying that if you continually buy, rather than renting, that it does not matter if you only live in each house a couple years. Time per individual mortgage is irrelevant, its the total time spent paying a mortgage. Paying a mortgage on 3 different homes that I live in for ten years each is exactly the same as paying a mortgage on a single house for thirty years. 3x10=30 and 1x30=30. Either scenario, I'm still paying a mortgage for thirty years.
That would be applicable if I did this for 30 years. But I haven't and obviously won't continue to move around like this. Just the way I've done it in my mid 20s.
Go for it!
Just do someone out there a favor and become an organ donor, please.
That's terrible...but I laughed.
That's terrible...but I laughed.
I wasn't trying to be mean spirited. With the amount of terrible drivers out on the road, riding a motorcycle is down right dangerous.
Its not the motorcyclists you have to watch out for, its the idiot on their cellphone driving a 5000lb suv....
I stop road cycling because of it. One too many close calls was enough for me.
Apricotshot
08-26-13, 11:02
I did the Suzuki deal of 5 years 0% interest. Payments are low and I could pay the whole thing off today if I wanted to. But why when I get to keep my money and pay them $170 a month? When I get tired of this bike I'll just pay it off and sell it or trade it in. Though I must keep in mind on how the depreciation works in my favor. Wait too long to pay it off and the bike won't be worth reselling or trading.
Paying a mortgage on 3 different homes that I live in for ten years each is exactly the same as paying a mortgage on a single house for thirty years.
No, there is more interest paid on the front end. Not to mention closing costs.
3x10 = more expensive than 1x30
Go here to bottom of page. Put in 200000 / 4.5% / 360 months --- be sure to click the 'months" button.
Notice first payment has $750 in interest while last payments are minimal interest. It's calculated on the balance due. That's why some will pay Principal+Int+next month principal
Normal Payment
$750 + $263
I + P + P Payment
$750 + $263 + $264(next month principal)
Do that each month and you will pay off in 15 years... Although your monthly principal continues to grow each month and by year 15 you are paying an extra $500 or so a month.
Hunter Rose
08-26-13, 11:47
No, there is more interest paid on the front end. Not to mention closing costs.
3x10 = more expensive than 1x30
Go here to bottom of page. Put in 200000 / 4.5% / 360 months --- be sure to click the 'months" button.
Notice first payment has $750 in interest while last payments are minimal interest. It's calculated on the balance due. That's why some will pay Principal+Int+next month principal
Normal Payment
$750 + $263
I + P + P Payment
$750 + $263 + $264(next month principal)
Do that each month and you will pay off in 15 years... Although your monthly principal continues to grow each month and by year 15 you are paying an extra $500 or so a month.
I was just using an oversimplified example to illustrate the flaw of not worrying about a mortgage sine you switch houses every couple years. I should have thrown "ceterus parabus" in front of my example. :)
Thanks for the detailed example though.
Eurodriver
08-26-13, 11:52
Lots of good info so far.
Now what about this:
Say you had a fairly reliable source of income.
You had $15,000 in 0% interest debt and $20,000 in savings.
Would you drop the savings significantly (numbers are made up) in order to pay off the debt that is interest free? It seems some of you would, and some of you would not.
You had $15,000 in 0% interest debt and $20,000 in savings.
If I only had $20 thousand in savings, I sure wouldn't be buying a $15 thousand motorcycle even with zero % interest.
Crow Hunter
08-26-13, 12:29
If I only had $20 thousand in savings, I sure wouldn't be buying a $15 thousand motorcycle even with zero % interest.
That is what I was about to say.
:D
In the spirit of the question though, if I couldn't get a better deal that $15k for what I was buying for cash and I was getting some type of return on the $20k then I would keep the money and finance the bike at $15k.
However, since most "safe" 5 year investments accounts right now are paying less than 1% and $20k is only going to earn $200 or so a year, I would guess that paying cash, even if it is only going to be $1,000 off is going to be the better deal unless it is being financed over a very long period.
ETA: The likelihood that there is extra "fluff" baked into the price is very high since they are offering 0% rate unless they have a product that they just can't sell no matter what. Otherwise, it would have been better for the company to just not build the bike and put the money in the bank for 5 years. ;)
ETAA: This is actually quite hilarious. I talking financial matters on a gun website here and then bouncing over to a financial website and talking about guns. Oh the irony.
Eurodriver
08-26-13, 12:56
The numbers given were an example.
As far as 0% goes. The sticker price was $11500. I got it for $9500 otd. It is a leftover 2012 model and I seriously do not believe I'd I had gone in there with a check they would have given me a better price.
Lots of good info so far.
Now what about this:
Say you had a fairly reliable source of income.
You had $15,000 in 0% interest debt and $20,000 in savings.
Would you drop the savings significantly (numbers are made up) in order to pay off the debt that is interest free? It seems some of you would, and some of you would not.
The answer is yes, but only if I wasn't going to go run up another debt. It would not make any sense to liquidate your savings just to go do it again. You have to account for the risk of having the debt. Admittedly, many here would define that risk differently, but you still have to account for it. A $15,000 loan at 0% is not risk free.
Bolt_Overide
08-26-13, 21:15
because it isnt a harley.
brickboy240
08-27-13, 10:45
As long as that Benz in the photo is paid for and you have several months of cash savings as an emergency fund, you are saving in a 401k and have no credit card debt or other debts...hell yeah...buy the bike at 0% financing and enjoy it.
If you still owe on the Benz (..or worse...leased the bastard), have thousands on Visa and Amex cards, outstanding loans or a second mortgage on your home and no savings....shame on you.
Sounds like you are somewhat economically responsible because they don't give 0% financing to those with loads of unsecured outstanding debt.
Not my choice of bikes (I want a Moto Guzzi V7 some day) but I know many that have them and love them.
Enjoy it....toys like that make life worth living.
-brickboy240
This thread reminds me to start convincing the wife I 'need' a Monster or 848 :)
Eurodriver
08-27-13, 17:39
As long as that Benz in the photo is paid for and you have several months of cash savings as an emergency fund, you are saving in a 401k and have no credit card debt or other debts...hell yeah...buy the bike at 0% financing and enjoy it.
If you still owe on the Benz (..or worse...leased the bastard), have thousands on Visa and Amex cards, outstanding loans or a second mortgage on your home and no savings....shame on you.
Sounds like you are somewhat economically responsible because they don't give 0% financing to those with loads of unsecured outstanding debt.
Not my choice of bikes (I want a Moto Guzzi V7 some day) but I know many that have them and love them.
Enjoy it....toys like that make life worth living.
-brickboy240
6 months of savings. A vanguard IRA and no other debt. Benz has been paid off for 3 years now.
Moto guzzi? I want an Aprilia RSV factory so bad. But I can't afford the $5000/year insurance :(
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