04-05-2018, 11:16 AM
(04-05-2018, 10:54 AM)LikeAfox_imp Wrote: I kinda stopped reading around page number 4 because everyone keeps giving the same advise. And it's a good advise. Don't buy new unless you ready to either lose money or keep it for a loooong time.
I don't get the "pay cash" mentality here. I chose to finance about $4k of my bike because Honda Financial gave me 1.9% and because other than mortgage I have no credit whatsoever. I'm keeping this bike forever and my credit keeps going up instead of stagnating.
The "pay cash mentality" as you put it hit me when I got my first loan for a truck and saw how much I would end paying back over 5 years. It only got worse when I saw the same (only far worse) thing on my mortgage. I decided that money was far better in my pocket than someone else's. So my wife and I decided to always make do with what we had until we could pay cash for something new.
That's why I rode a 1984 Yamaha Virago 1000 (with the gold trim) from '91-02. At 6'1" and change it was terribly uncomfortable and long rides almost crippled me but it was I could afford.