| Author | Message | ||
     Roadrash1 |
I didn't know it was a crime to finance things either. I guess I am guilty!  I'm glad you got another job. That is the only downside of having good work....it is harder to replace with more good work! We can't all be Doctors, or God forbid...Lawyers! | ||
| Froggy |
I got not one, but two financed 1125's in my garage, I financed my Uly too. What does that make me? I have never missed a payment, the Uly is paid off. If you can buy your stuff outright, then great! I don't mind financing, especially at low interest rates. | ||
| Jleblanc26 |
LoL. That's right, F•ck lawyers, when that guy pulled out in front me and totaled my r1 the damm lawyer took a year to settle anything and then got more out of the settlement than me. Bastards, and now we can add badweatherbikers thread trashers to that list. | ||
| 03fatboy |
I have a Harley and my 1125 financed, and have a blast on both bikes. Toy yep! Paid for NOPE! They are paid on time and I still have more than enough money to live. I don't see the big deal in financing as long as you are within you means. I can't afford $12000 right out of pocket. Not too many people can these days. | ||
| Jleblanc26 |
And i haven't missed a payment since owning my bike, January made a year. I spent a good bit of my savings to keep things right until I found another job. I couldn't find work like I had before so I took less then stellar jobs which hit my savings even more and now I was at the point where getting rid of it was the only option I was faced with. But now it's ok, I should be good. I do my physical and my training Thursday for my new job.Sun is shining, birds are chirping, LETS RIDE!! | ||
| 03fatboy |
J- I feel for you bro. You were flamed when people had no right to flame you. Congrats on the new job and wish you the best of luck. | ||
| Hairy_cannonball |
You all are missing the point. Doughnut..I grew up poor with the wolf constantly huffing at the door. I vowed never to let that happen to me again. I did it by living within my means and working my a** off..my first real job when I was 13. Because of silly child labor laws I couldn't be paid right away. I had a nice payday when I turned 14. When I was in college I drove a piece of sh** VW that I paid 200 bux for. I could have financed a much nicer car..I didn't..the money was more useful invested in things that provided for my future. Hell I still drive a 10 year old car, another VW, this time a Jetta TDI. I paid $1200 for it because it didn't run. It took a ten dollar relay to fix it. Most of my peers drive much nicer cars. Mine is paid for. So are my houses. Bishop, I have 10 motorcycles..3 Ducatis, 2 BMW's a Moto Guzzi Lemans, a DR650, a Royal Enfield Diesel, a 1125CR and a Gas Gas EC200. These 10 are out of over 60 I have had over the years. Motorcycles are my drug of choice. Two wheeled prozac. They are the only thing I squander money on, but see I can afford to because I did without in the past. I do without now. I'm not rich, I am just a blue collar working shmuck, but if my income stream went away now I wouldn't lose anything. I have never financed a motor vehicle in my life and I don't intend to start, so don't be calling me a hypocrite. You can rant all you want, but if you have to finance toys you are living beyond your means. In fact..read my lips...don't finance ANYTHING you can live without. Learn to do without. Put the money you would be spending on a payment in the bank. Then when you buy your new car or motorcycle or whatever, it is yours, not the banks. Then you aren't dependent on your job..you are no longer a slave. Debt makes you a slave. Think about it. It's called waiting. Takes patience!! I know the economy is crap..largely because people bought houses they couldn't afford and this whole leveraged house of cards tumbled down. Now we all have to pay the price. Why does a family need a 4000 square foot mcmansion. I live in a duplex. I own nicer houses. I prefer the rental income to living in a fancy house. As I said already, I feel bad for the OP that he lost his job. He said he had an income of 90K plus. 12k cash was hard to come up with?? Come on. 90K is not exactly shi**y income. I have a friend that has a family income of less than 40K. Two kids, the house is paid for, the older cars he has are paid for, and his 3 motorcycles are paid for. Wonder how the f**k he did that in this horrible economy? | ||
| Jleblanc26 |
And I was well within my means 03fatboy. Just fell on hard times where I was put in a bad position, I gave up alot just to keep my bike including moving me and my family with my pops until better work was found and that time is now. And that Mrbikle is called dedication! | ||
| Jleblanc26 |
I made 90k for one year and I worked a 28 and 14 schedule which means I had to do alot budgeting. And my job required I had to be close to an airport, so I took up residence in new Orleans and because of Katrina I had to pay 1000 / month to live in a decent apartment that wasn't flooded or crime ridden. Also I was claiming single at the time so of that 90k I paid 24k to good ol uncle sam. I worked my butt off and got the things I wanted. But didn't have 12k to slap down on a bike. I had 12k in savings Which is gone now to lack off work trying to make sure I keep my bike. Especially a wedding which also was a knife in the gut, I got married on April 18th and got laid off 2 weeks later while waiting for my itenerary to go back to Egypt. So back the F@ck up. | ||
| Bishopjb1124 |
Hairy, I also live well within my means obviously you did not read my post. I also have quiet a few toys all paid for except for my 1125R and as I stated above that is to help my wife build her credit. If I lost my job right now I could still afford the payments or could pay it off with my savings. I am also a blue collar knuckle dragging caveman and only do what I do because I choose to, could I go and get a better job? Sure I could. Some of us maybe were not as blessed as you are with financial management. So please forgive us, all men are not created equal. It appears I struck a nerve by using the word hypocrite, that was directed at no one imparticular, but by reading my post you took offense so obviously you are also self conscious about being a hypocrite. You choose to live the way you do and you know what CONGRATULATIONS it works for you. I choose to live the way I do because it works for me. If we all were made to live the same way we would be living in a communist country, not the great country that we do. By reading your post I am guessing that you have never financed anything in your entire life. Never had a credit card or even a student loan. What about your kids if you have any did you pay out right for their college education? If you did not, you sir are a HYPOCRITE, a college education is something they can live without, I have done it for the past 11 years rather successfully while serving in the military as well as my dad and mom and many other successful people that I associate with. ONCE AGAIN RANT OVER If you want to talk more about it feel free to PM me and we can discuss it. Jleblanc, Brother I hope everything works out for you in the long run. Keep your head up stay strong and keep charging. Everything happens for a reason and things will work out for the better in the long run. Jimmy | ||
| 03fatboy |
No worries J not everyone can be as special as Hairy obviously is. I am sure that there are a few people here that did pay cash, but they probably won't come off as a$$holes about it. You weren't asking for the financial advise that he was doling out. I bought mine in the fire sale and still financed it. | ||
| Jleblanc26 |
AGAIN THANKS. COULDN'T HAVE SAID IT BETTER MYSELF. NO, SERIOUS, I COULDN'T. LOL. YOUR THE TYPE OF MOTORCYCLISTS I WANT TO WAVE TO AS WE PASS EACH OTHER ON THE HIGHWAY. EVEN IF IT IS A HARLEY ,J/K. THANKS. | ||
| 03fatboy |
LOL Well have to admit the Harley collects more dust than miles since I bought the 1125r. | ||
| Jleblanc26 |
Good to hear. If I ever need a paper weight, I know who to call..lol | ||
| 03fatboy |
You got it! Sitting on the fence about selling it, but being my first bike, and it is a 100 anniversary makes it a little hard to decide. | ||
| Hairy_cannonball |
Guys, none of this is a personal attack on anyone, just observations. Please take it as friendly advice. To answer a few questions. Bishop, no I don't have children. If I did, I wouldn't have a garage full of motorcycles. My parents were financially poor. I paid for my own education. If you remember from my first post I said I felt it was ok to leverage investment opportunities if the risks were known and acceptable. Education is an investment opportunity that is well worth taking the risk for. I had some student loans, but they were paid in full before I bought any luxuries. Yes I have credit cards. They are not a way to finance anything, merely a convenient way to pay for things. They are paid in full each month and incur no finance charges. Great way to build a credit history btw. I have never carried "consumer debt". I financed my first house because I needed to and it was more cost effective in the long term than renting. I have financed income properties when it made sense to do so and the risks were acceptable, but I have never financed a higher standard of living. I believe I have lived pretty much by the advice I posted. I don't think I am a hypocrite. I mean this in all sincerity, thank you for your military service. 03fatboy, the point is I am not special. I didn't have a privileged childhood, in fact at times we didn't have enough to eat. I was made fun of in school because of the threadbare hand me down clothes I had to wear. That's not a pleasant memory to look back on. If there is anything special it is only that I never want to feel that insecurity again. I work a blue collar job with blue collar pay. I bet lots of you have a higher employment income than I do. I merely managed my resources wisely and have a comfortable secure way of life because of it. Nothing I did was special. Jleblanc, you can do what you want with my advice, I really don't care, but consider this. It was proven to you that job security is pretty much not there anymore. It isn't for anyone. Times changed, it's not like the 50's anymore where you could always count on being employed. I believe it is prudent to plan for periods of unemployment. When one has a limited income such as myself I believe it is wise to do without luxuries until savings are sufficient to handle a protracted period of being unemployed. You don't want to face losing your home. Even if the economy improves, I don't think the American worker as a whole will ever have the job security our parents (or in the case of most of you youngsters, grandparents)had. And yes I know this is way off the original topic, so sorry. I only jumped in when Fresno suggested what I feel is the truth and got beat up for it. I'm glad you are able to keep your bike. Good luck. | ||
| Mrbikle |
well to each their own... guess everyone likes to get defensive about finances these days. cannonball, keep up the good work. | ||
| Jleblanc26 |
I didn't ask for anyones advice, I knew people would say something about the price due to recent destruction of buell and all the price drops. What I didn't expect is the barrage of attacks on my personal finances and general way of living. You can keep that sh*t to your self. | ||
| Jleblanc26 |
Friendly advice? With friends like you who needs enemies. | ||
| Hairy_cannonball |
No you are right, you weren't asking for advice. You were just asking someone to take over a $12000 note for a bike that is worth $5000. Some kind of bailout perhaps?? Lol | ||
| Jleblanc26 |
I was asking If anybody wanted it, no gun to anybodys head, and I expected the response because of it. I didn't need the peanut gallery to chime in. | ||
| Reducati |
i guess you can take it with you...  | ||
| Reducati |
and for clarification...life is short, enjoy it whilst your here!  | ||
| Jleblanc26 |
I just got off the night shift. I have a 30 min ride to work. And trust me you couldn't kick the smile off my face from my bike. I love it. | ||
| Pittsburgh_guy |
I have the answer for people like Jleblanc26 and other like him who paid more then firesale prices during 2009... Class Action Lawsuit. I'm in, already talked to a lawyer to see if the case would qualify. Its just not right for those of us who owe more than $10,000.00 and yes to those a$$es out there, "I know thats the way the cookies crumble" well when you start making my monthly payments and those who got screwed in this, maybe then I'll listen to your crap. Whose interested, we are well within our right? | ||
| Jules |
Are you? (that's a genuine question - I'm not having a go), is there genuinely a legal basis for a class action suit? What are the actual grounds? Honestly - I'm not having a go, it's just an interesting position that some people paid more for their bikes than others but can't see that there is a leagl basis for a class action suit (but then again what I know about US law could be written on a postage stamp) | ||
| Reducati |
seems if you paid 10k for a bike thats worth 10k, and the buell is well worth that or more, a lawsuit is on shakier ground than southern california. | ||
| Pittsburgh_guy |
Yes, IF we can get enough people I'm in. and sorry Reducati, but our bikes are worth no where near $10,000.00 and I know someone is going to make the comment "hey you buy it to ride it not for resale" which is correct, but if the net worth of the motorcycle is only 5-6,000 and you owe 10-12 on it, that doesn't sit well in my stomach if I would fall on hard times as others have. A "Class action" is defined broadly to mean a common set of facts capable of harming many. This includes consumer class actions, product liability cases, employment matters, defective drug cases, environmental contamination, government misconduct and security litigation. I'm not sure of the exact terminology she used by the lawyer but it was something to this extent: "Harley Davidson knowingly sold buell motorcycles prior to the announcement at a certain price at which time providing LOANS for such motorcycles in which the loan amount far exceeding the fair market value of such motorcycles causing financial damage and distress to those consumers. This type of action would qualify as a consumer class action" | ||
| Jules |
OK thanks for the info - so in theory it'd only apply to people who bought pre "firesale" and who financed through HD finance. I think it's unlikely to be succesful, but in theory if a lawyer does it on a "no win no fee" basis then you've nothing to lose. | ||
| Froggy |
This is a joke right? Yes, I bought my 09 CR back in August at full price right before the axe came down, so I owe quite a bit of money on it still. What did I do after I found out I can get one for about half I paid? I didn't go whining to my mother or talked to a lawyer, I simply bought another one!  I wonder if my parents can sue because they spent $400k on the house before the economic collapse, but their neighbors got their pretty much identical house for $230k recently. |
