So many ways to look at it. If you buy cash that’s awesome but you have that money locked up in that purchase (car/bike) and it’s losing value. If you need to sell for any particular reason you have course to go through in selling to potentially getting less money in return. If you finance, yes you pay more but if you intend on buying a new bike every 3 years then the need to pay larger deposits disappear and it only becomes a monthly payment. If you no longer can pay for the vehicle then you have the right to hand the vehicle back, pay a fee and wash your hands of it. Just depends on your situation 👍🏻
I do everything I can to avoid taking a loan out for anything. I hate debt, but even more, I hate paying interest!!!!! Both my bikes are used, and I did take a small loan for the Wing, but only because it was such a good deal, I didn’t want to wait. I’m nearing retirement, debt is my enemy😂😂😂. If I were to decide to get a brand new bike, I’d end up financing, but only when I’m sure I can pay for it without negatively affecting my family. Cool topic my friend!!
I do both. If the interest rate is low, I’ll finance and pay a couple of payments right off the bat, which zero’s out the interest. Cash is king in my book and I like to hold on to as much as I can.
Cash is almost always King when buying used or new. New, cut the best deal with the idea of financing. You can usually get the best deal if the dealer sells knowing you are financing for a bunch of reasons. Make a couple of payments then pay off the balance with cash. Used gives you the best of all worlds. You can cut the best deal and there's no wait period for the seller. Cash also can give someone more choices in regard to insurance.
I'll write a check for my bikes unless the rate is low enough we're it only makes sound financial sense to finance. If I can earn a return higher than the financing rate, I finance and vice-versa. Ride safe and enjoy the ride. 👊👍🇺🇸
All cash here man I haven't had finance credit or any loans now for over 20 years. I know for many it can't be helped so all toys house what ever is 100% owned.
I know that a lot of people just want to pay cash for their toys, but for me I like the flexibility of payments. That means I have the flexibility to invest elsewhere (like in stocks) and potentially get a greater return vs the interest I'm paying over the loan. Debt CAN be a useful tool, just don't let it get out of hand.
I had to finance part of the Griso. But I made sure to pay it off early. When it comes to finance, do your research on the best deal you can get before setting foot into a dealership.
Cash and carry! Hell yea bro me too. I don’t make a lot of money either but if I can’t buy it outright then I’m not going to buy it. Man you did get some nice deals. I actually watched a bunch of videos on UA-cam last night from my television because my phone is acting up. Time to think about getting a new phone lol 😂. Good stance 👊
Bro, thanks for the link on that Puig screen, I’m loving it! It makes a big difference. It blocks a lot of the wind especially on the highway. I was gonna sale the bike but not anymore.
Hey buddy...well, I would like to say I just walk around with stacks of cash, but, no, I like to take advantage of my great credit rating! I got a .89% loan from Honda for my Gold Wing...that's almost free money, dude! I just paid off my Tacoma--made the last payment this month, and freed up some funds, so what did I do? Went out and bought a new Ducati, of course!😀
I mostly avoid financing a luxury item like the bike - I consider it a luxury item because I can only use it 6 months a year. If the price is right, and the value is there - I would consider financing, but I always have to have the ability to pay it off early without penalty.
Just depends on what bike. If I was in the market for a newer bike or a bagger, yes I would financed. Anything under 10k I would pay cash, like you did. Good video Brett!
Cash for me. I've done finance once before for a bike, of course that was a time when the interest rates were near rock bottom. In this economy today probably not a good idea, with the increase of inflation. Your right when it comes to the price of those Harley and Indian bikes, Shew! 😆
I financed my ultra several years ago but I paid cash for the new CVO. Interest rates are going up so I didn't want to pay more than it's already high price.
👍💯
Thanks!
I can dig it
Thanks man!
So many ways to look at it. If you buy cash that’s awesome but you have that money locked up in that purchase (car/bike) and it’s losing value. If you need to sell for any particular reason you have course to go through in selling to potentially getting less money in return. If you finance, yes you pay more but if you intend on buying a new bike every 3 years then the need to pay larger deposits disappear and it only becomes a monthly payment. If you no longer can pay for the vehicle then you have the right to hand the vehicle back, pay a fee and wash your hands of it. Just depends on your situation 👍🏻
Very true man and great perspective!
I have to say cash for toys and vehicles.
Woot woot another in agreeance
YOLO, so I say go for it by any means! 😬
Hahahah yolo and fomo hahah
Always cash. I like the way buy less then the value.
Hell ya turn around and flip if in a bind. Cheers Larry
I do everything I can to avoid taking a loan out for anything. I hate debt, but even more, I hate paying interest!!!!! Both my bikes are used, and I did take a small loan for the Wing, but only because it was such a good deal, I didn’t want to wait. I’m nearing retirement, debt is my enemy😂😂😂. If I were to decide to get a brand new bike, I’d end up financing, but only when I’m sure I can pay for it without negatively affecting my family. Cool topic my friend!!
Yea I still have my car loan and house loan and absolutely hate seeing the interest paid. Feel like it’s money just thrown in the trash.
I do both. If the interest rate is low, I’ll finance and pay a couple of payments right off the bat, which zero’s out the interest. Cash is king in my book and I like to hold on to as much as I can.
Yea I feel the low rates might be coming to an end soon. Thanks for watching!
do both !!! hope you have a awesome slow weekend Chopper!!!
Thanks man!!!
Cash is almost always King when buying used or new. New, cut the best deal with the idea of financing. You can usually get the best deal if the dealer sells knowing you are financing for a bunch of reasons. Make a couple of payments then pay off the balance with cash. Used gives you the best of all worlds. You can cut the best deal and there's no wait period for the seller. Cash also can give someone more choices in regard to insurance.
I didn’t think of that. Get the dealer to think he’s gonna make a ton in financing off me and then turn around and pay it off NICE!
Cash for toys unless for some crazy turn of events they offer 0% financing.
I think those days could soon be behind us sadly.
Do you guys ever see 0% finance? I have never financed a bike, but if a new bike I wanted was on 0% finance, I’d be tempted.
I have a high credit score, I’ve bought my last couple of cages with %0 financing. It’s the only time I’ll trade in on a new vehicle.
Yes 0% makes sense 👍🏼
Yea if something is 0% like my computer or treadmill was I don’t mind the finance option. Feel that even protects you against some inflation too
If I can’t pay cash I don’t buy it.
Solid way of living man!
Cash for the used motorcycles I have purchased, Financed my 2016 Street Glide but it was new and over $20k, did not use HDFS though.
HDFS I hear can make a ton of money if it’s patrons.
I financed mine, but then paid it right off.
That does provide some flexibility in it too!
I'll write a check for my bikes unless the rate is low enough we're it only makes sound financial sense to finance. If I can earn a return higher than the financing rate, I finance and vice-versa. Ride safe and enjoy the ride. 👊👍🇺🇸
Ohhhhh that’s a good way of thinking about it. Thanks man.
All cash here man I haven't had finance credit or any loans now for over 20 years. I know for many it can't be helped so all toys house what ever is 100% owned.
It’s a great way of living man!
I know that a lot of people just want to pay cash for their toys, but for me I like the flexibility of payments. That means I have the flexibility to invest elsewhere (like in stocks) and potentially get a greater return vs the interest I'm paying over the loan. Debt CAN be a useful tool, just don't let it get out of hand.
Well, hopefully your stock portfolio didn’t take too much of it hit like mine hahah
I’ve been lucky enough to pay cash for the sporty and the Dyna. My cars not so much lol
Hahah yea cars are a different beast.
Great that you've been able to pay cash for your bikes! 🤗
So far anyway. My tastes are getting more expensive
I had to finance part of the Griso. But I made sure to pay it off early. When it comes to finance, do your research on the best deal you can get before setting foot into a dealership.
For sure! This topic was a little fitting as interest rates just rose here too
First 😂. I keep my toys paid for in full also. I wouldn't feel comfortable modifying a machine that isn't actually mine yet.
Yea that’s a good point of view. That 1k exhaust goes a long ways towards paying down the balance.
@@ChopperFett exactly right! 👍
We don't have any car payments so our bikes take the place of that! 😁💜
Yea I think if my car payment was done I could justify it more
Cash and carry!
Hell yea bro me too. I don’t make a lot of money either but if I can’t buy it outright then I’m not going to buy it. Man you did get some nice deals. I actually watched a bunch of videos on UA-cam last night from my television because my phone is acting up. Time to think about getting a new phone lol 😂. Good stance 👊
Hahaha I guess I did finance my new iPhone over two years but it only added $25/month to my phone bill soooo not terrible
Bro, thanks for the link on that Puig screen, I’m loving it! It makes a big difference. It blocks a lot of the wind especially on the highway. I was gonna sale the bike but not anymore.
Awesome man!!!! So glad it worked out for you!!!!
Wish I had cash to buy outright but finance is the way for me!
My next bike is gonna have to be a finance job. Cash is good for around town commuters but comfort and luxury cost too much for cash.
Hey buddy...well, I would like to say I just walk around with stacks of cash, but, no, I like to take advantage of my great credit rating! I got a .89% loan from Honda for my Gold Wing...that's almost free money, dude! I just paid off my Tacoma--made the last payment this month, and freed up some funds, so what did I do? Went out and bought a new Ducati, of course!😀
Bahahah man if I didn’t have my SUV payment I could probably add three scramblers to my garage hahah.
I mostly avoid financing a luxury item like the bike - I consider it a luxury item because I can only use it 6 months a year. If the price is right, and the value is there - I would consider financing, but I always have to have the ability to pay it off early without penalty.
Yep I get about 9 months a year but still like you said a luxury item.
Just depends on what bike. If I was in the market for a newer bike or a bagger, yes I would financed. Anything under 10k I would pay cash, like you did. Good video Brett!
Like minds great minds hahah. Thanks Steve!
I do both depending on what it is. I always make sure to pay things off early though. otherwise your just paying way to much for it with interest.
Agreed! All my other purchases I try to at least get 0% financing
Cash for me. I've done finance once before for a bike, of course that was a time when the interest rates were near rock bottom. In this economy today probably not a good idea, with the increase of inflation. Your right when it comes to the price of those Harley and Indian bikes, Shew! 😆
Haha yea inflation is insane these days. Sad face lol
I financed my ultra several years ago but I paid cash for the new CVO. Interest rates are going up so I didn't want to pay more than it's already high price.
Yep our rates are starting to soar as well. Fathoms me when people walk out of Harley with an 8% rate and think it’s a good deal
I have been very lucky to pay cash as well. If I had to finance a bike my wife would not be happy as the bike is my toy as well mate 👍
Hahahah same mindset for sure.