As some might know, I'm saving for a MTS 1200 S Touring. I don't want to take finance out, I simply don't like it. Did it with the 1098S, hated it. Both 748's before were saved and paid for from my own cash. Now, a friend is saying I'm missing out on the nice weather by waiting until I have the £11,000+ cash sat in the bank. I don't mind, as I said I am likely to get a better deal from a dealership if I so chose to buy a second hand bike from a dealership. He thinks there will be little, if any budge from the dealer due to no finance. I'm not taking finance regardless, and I'm not exactly waiting a long time, will have the bike within several months unless some big bills come up haha. But I save a hefty chunk each week (contracting) so it's hardly an issue. Thoughts?
If you can buy without getting finance do it... why pay interest if you don't have to? FWIW when I was buying my 1098S I've worked out a deal with the dealer before he knew how I'll pay for it (it was about 50/50 cash and finance).
Could you get an interest free repayment credit card for the balance of the payment? money supermarket.com link best of both worlds, instant gratification, no penalty.
personally i buy good quality used every time. with dukes there are loads with next to no mileage..why take the hit on depreciation?? let someone else take it and save yourself quite literally thousands (unless you MUST have brand new). i purchased a nice car many moons ago with the help of a bank loan..car got stolen and it turned out to have outstanding finance (even though it came back clear on HPI)...to cut a long story short i had to fight to get any cash from the insurance company whilst still paying for a loan...the car never felt like it was truly mine....hence ive never had a loan for anything since...im not bothered about pub bragging rights and having the latest and greatest...i would buy what i really wanted....my next bike will be a Tric because thats the one i need/want...but not enough to sell my 916...when i buy one, i'll be keeping my fave bike of all time too....the 916.
Oh, I will never buy new, I simply can't justify the depreciation as soon as you leave the forecourt. For what, a newer number plate No thanks haha. I don't know about the interest free card... Might look into that. Mind you, my credit rating is far from good.
I prefer not to take finance but last year a bought a car with a small amount of finance as the dealer offered me 2 free services if I took out a loan. I was able to pay off the finance after 3 months so while I did pay a small amount of interest it was easily outweighed by the service savings so well worthwhile. Maybe you can get a similar offer to make it tempting ? If not then wait while you save.
hmmm...make savings where you can....get the leccy meter bypassed, tell the council youve moved out and will be renting (6 months grace on council tax), disregard TV licensings pathetic attempts to scare you into wasting money on a licence, turn the 'little woman' out, if youre on a water meter then run a hose pipe from next doors stop tap...if they dont have one explain the features and benefits...but if you want a Pani, seriously consider arson. im not sure what to, but get it insured and then burn it.
I hate owing people money. All my bikes have been bought cash (except the first Duke, nearly 30 years ago when I didn't have a bean and an oil leak in the Honda). Bikes after that have always been luxury items, and I'm not borrowing for that. I owe money on the mortgage (who doesn't?) but that's it.
What's wrong with cash!! You can haggle with cash surely that's got to be better than finance I would be asking for servicing inclusion if the dealer didn't want my cash I would go elsewhere
I think its an interesting debate and I fine balancing act with finance or paying cash. When you look at some of the finance bike manufactures offer the interest is very little. Admittedly its still interest.
Agree with Glid, its a toy therefore hardly vital in the greater scheme of things, so wait till the money is saved, get a great deal, and a great deal of satisfaction by actually owning it. Anyway, instant gratification is no way as much fun as anticipation.
All my bikes have always been paid in cash. However they've always been keenly priced so not much wiggle room. Dont expect cash to secure a better deal at a dealer. They will be targeted , as will the salesman on selling finance and pcp. I've sold new cars for 11 years and don't even entertain cash deals as it can hit my commission hard. This is unless the deal makes a fortune but usually 99% of the time it's not worth it. Bikes may be the same.
Finance is pretty cheap at the minute,if you've got a good credit rating And it's right handy to have some cash lying around,just in casers. Yes you'll save by not paying interest. But you never know what little touch might be round the corner And if you don't have the cash,yer out of the game. Put down 50% deposit,pay the rest off in 12 months You'll have a few grand in your pocket when an opportunity comes along...
I'm amazed how much cash is washing around given everyone seems to be saying they only ever pay cash. I normally borrow the money or at least some of it; why wait for years to save when you can have something today and enjoy it whole you 'saving'?! If I'd have saved I would never have had enough to buy my bike, it always goes somewhere else
I'm already saving for the 799 panigale. If I can't buy it outright I don't have it. Same goes for everything.
