Buying a bike on Finance Pt 2.

[quacker_boy]

I'll be talking in Dubai money from here on in so anyone who gets lost, the exchange rate is about 7 dirhams to the pound.

A few of you remember me posting up a thread a while back asking the general consensus was that i shouldn't do it. Well the time has really come for the final decision.

I've scored myself a job and i'm earning about 3 thousand AED a month, that's not much but enough to get me by. My salary is likely to be increased to around 10 K a month in about 6 months time. Basically the bike is 980 dirhams a month for 48 months, working out to be around 47 K. Now, that's nine thousand more than the er, buy it now price, if you will.

My problem is, since i rented out the CBR i've been dying to get my hands on my own sports bike the K6 GSXR 600. Having taken one out for a test ride for a couple of hours i was IMMENSLY impressed with everything, it was just so perfect.

Now, what do i do? Buy the bike now and satisy my immediate gratification or wait untill this time next year and buy a K7 and pay with cash up front after saving up?

Problem is, i've been speaking to my parents about it and they're dead set against it as they're almost certain i'll end up somehow loosing my job and being locked up for being in debt. They don't want that, as much as i've fucked up, they don't have it in for me THAT badly.

Thoughts? Opinions? General advice?

HELP!

Chris
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wizzzard wrote: Imagine God just stopping by, tidying your front room up and then quietly letting himself out again. Statisticly more likely to happen than Korn being on here.

[colin1]

get a cheaper, older sports 600
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colin1 is officially faster than god

[syl]

Personally, I'd say you should wait until your income has gone up significantly in a few months and only then, when you can definately afford it, buy the bike. You could do so on short-term (12 months) credit if you liked, which would be a little less expensive.
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Current bike: Kawasaki Z750S

[G]

As colin said.

The newer 600s do 'feel' very nice.
However they are only a little faster than an older one and either is likely to be faster than you as such.

Also, they cost less to crash and mean you're more willing to ride them. With a few tweaks they can usually be made a better bike for you to ride than an untweaked new one.


I would at least leave it a while to see how your job goes. There's a hell of a lot of things I've been determined to 'do right' that I get lazy and mess up. Of course other things I do succeed and sort out, but I may have had the same initial determination for the ones that I don't.

[Sparks!]

It's not worth it mate, save your money and get a slightly odler bike, 03 600rr or something a lot less money! you will regret it big time spending that much money on a new bike for the next few years!!

You WILL regret it..
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Current Toys: 06 Yamaha WR250F | Nissan 350Z GT | Tech 4 Homes

[quacker_boy]

As i'm sure i've said a fair few times, there's not much of a second hand market and none of the shops selling second bikes offer finance deals and getting a loan is nigh on impossible.

There is however, a K3 GSXR750 with 8000 kms on the clock going for 14 grand.

But i still can't get the money for this one UNLESS...i ask my parents very nicely?

The posts are useful guys, keep em coming.
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wizzzard wrote: Imagine God just stopping by, tidying your front room up and then quietly letting himself out again. Statisticly more likely to happen than Korn being on here.

[colin1]

save up and get a cheaper, older sports 600, there must be something even if you have to look for it

also consider riding it without fairings for quite a while until you are absolutly sure you wont drop it
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colin1 is officially faster than god

[G]

Have you looked into importing a bike?

Also, what about a bank loan?

I did spend my time on a sports 600 and enjoyed it, but these days I find it more fun to /really/ rag a much lower powered bike - so a top of the range sports bike isn't everything and you can still have a lot of fun on a smaller bike.

[Parmo Paul]

[ram_doom]

Do it, but bear in mind the NEED for being flexible with your income, as things always go wrong and problems come up frequently...
And ffs dont buy a gixxer
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TL1000s, KDX200

[thefallenange...]

think of it this way. IF you did it can you afford it if you had to pay another 5% a month comfortably. If you can't then don't bother because something always goes wrong a month i find and need to splash out for car/bike/pc/something trivial part which is a bit of money.

[quacker_boy]

[G]

[Andy C]

48 months is four year, you will not be entertained with it for 4years.

Just save like crazy, thats what i did, every fiver here and there went into the fund, yea i had to cut back drinking but its worth it when you get the bike.

And second hand sounds a plan, surely there is a few bike that come by on the the second hand market every now and then?
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99 RS125 --> 02 SV650s --> 03 Speed Four --> 92 RXS100 --> 93 CB400sf --> 01 CB600f Hornet

[nrml76]

I believe you can be fired at very short notice in the middle east.
The newest employees are the first to be laid off usually, if a company suffers financially.
Employment laws over there will not provide much protection for foreigners.
Prisons in the middle east are not very nice places; so I have heard.
A poor credit history early in your life would be a mill stone around your neck for the next few decades.
Did your parent's not bail you out once, when you wrote off a hired bike? To expect them to do the same again would be selfish on your part.

Save up and pay upfront, or buy secondhand. You will feel much better for it when you buy a bike that is truly yours in every sense.
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Everyone who lives dies, yet not everyone who dies has lived. We take these risks not to escape life, but to prevent life from escaping us.

[Misc]

The novelty wears off after about a month no matter how fast or nice the bike is, i could guarantee that if you do get it on finance you will regret it. Not to mention if you crash you will still be paying.

[quacker_boy]

I believe you can be fired at very short notice in the middle east.

Depends what job, my contract has stated IF the company desires to fire me, they have to give me a 2 month notice.

The newest employees are the first to be laid off usually, if a company suffers financially.

My boss is earning over a million dhs a year and drives a Ferrari 430.

Employment laws over there will not provide much protection for foreigners.

Emplowment laws are literally unheard of out here, regardless if you're a foreigner or not.

Prisons in the middle east are not very nice places; so I have heard.

They're not.

A poor credit history early in your life would be a mill stone around your neck for the next few decades.

I can see where you're coming from with that point, i guess

Did your parent's not bail you out once, when you wrote off a hired bike? To expect them to do the same again would be selfish on your part.

True and as i said above, i paid them off over the duration of summer.

Save up and pay upfront, or buy secondhand. You will feel much better for it when you buy a bike that is truly yours in every sense.

Meh, i wish i could win the bleeding lottery!

Andy, as i said mate, the second hand market is VERY variable so i'd probably save up a sum of money and then end up having to wait even longer for an ideal bike to come along.

I guess you're all right though, a new bike will be on my first list of buys when i'm running my own company like my boss

Any more insight still appreciated
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wizzzard wrote: Imagine God just stopping by, tidying your front room up and then quietly letting himself out again. Statisticly more likely to happen than Korn being on here.

[GearboxGeezer]

I know you want a brand new bike now, but If I was you, I would just save up the cash for the bike. Sell some things maybe..

By the time you have the money it may well be a year later, but perhaps Suziki will bring out a new model that is even better than this years!

Them 06 GSXr's do look fucking quality with its mean headlights and such though.

[quacker_boy]

[Gazdaman]

Save up and buy it second hand or new if you can save that long.

It sounds like you're getting very very close to spending all your disposable income if you took up a finance deal. Let alone thinking about you need some breathing space money.

I.E I got £100 fine this month, if I maxxed out my pay with finance on a bike, what would I do?

What if you binned said new bike?

Your parents have been good enough to you aroudn this CBR, don't give them a fuck up the arse and do exactly what they don't want you to.

Save up, get a second hand slightly older sports 600. It's the best way and you know it.

Gaz

[Misc]

Agree with above, is the K7 the only bike you like? There are tons of lovely bikes around, 2004 R6, RR, Ninja, K5 etc etc.

[quacker_boy]

Yup you guys are right, i had a chat with my boss about it last night and he said never buy anything on finance, as someone else said on here, the feeling when you buy something new and it's actually yours is phenomanal.

The company i know work for is all about goals so we sat down and how long it would take me to save up 38 K. The company is also keen on moving up the hierachy as quickly as possible, so who knows i might be able to get my shiney new bike sooner rather than later.
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wizzzard wrote: Imagine God just stopping by, tidying your front room up and then quietly letting himself out again. Statisticly more likely to happen than Korn being on here.