I jut bought a 748R in Paris. I live in London. I watched patiently as it failed to sell on CarandClassic website. There are not many around, but there are also very few buyers. You need to establish the sellers position before you go borrowing money. I hung my guy out to dry as I worked out I was the only buyer. You are far too engaged in the excitement. You will therefore make some very poor decisions. StevieGTR makes the point well.
Well, you asked for an opinion.... If you can't lay your hands on a few thousand then how on earth can you provide a buffer for lifes up and downs (white goods failing, sudden job challenges, kids needs etc..). It's ridiculous to me that you want more debt to buy 'another' bike. My approach would be to save, then buy what is available, in fact it would be to save first to have a buffer of instant access savings, then save and once I had both covered I would buy a bike available. Doesnt matter what other investments I had that are 'difficult to liquidate' You did ask. RBW.
Yes I did ask but, obviously wrongly, I thought in a thread like this people may check through as it develops. before making some pretty big assumptions about my financial position. I will pass your advice on to my son where it may be of more use.
I read the thread and your post, and then responded. You have no liquid assets available to you and want to borrow more. I stand by what I said. RBW.
Then, seriously, go into the room of mirrors and take a good look at yourself. Does it sound like a person in my position would have NO liquid assets? Seriously? Of course we do. But when considering an indulgence you don't touch the money you have set aside for a rainy day do you? I was exploring the option of lending from a relative who may have more free cash ( not more total assets) and then paying back when I sell my share in the bloody horse. You know, self reflection and insight are admirable traits. You could have looked at your post, which is applicable to someone in pretty dire circumstances, read what I have just quoted and reasoned to yourself that we are not on the bones of our bum. "Standing by what you said" out of, let's face it, bloody-mindedness, stubbornness etc is going to be an obstacle for you in learning things . Understand that when you encounter a different factual matrix than the one you assumed was extant - it is logical to alter your position in line with the facts as they are now presented to you.
So you won't use your 'liquid assets' you have available to you, but are happy to borrow from the in-laws... ? I smell something, and its not pleasant. RBW.
At first I'd say, you've got the kind of bug that makes people do silly things, we've all been there so you are preaching to the converted, mostly. You said, I have the dosh but it is tied up for several months ( and there is a small chance access to it could be refused for 12 months). So one option is to just wait and hope it doesn't sell. I'd hate it if I missed the bike but sometimes, things in the way happen for a reason. A 4000kms (2,485 miles in proper money) round trip is a long way to go just have a look. let alone go knowing you don't have the cash. I'd cry for a few days, behave like a boy who wanted an action man but got barbie at christmas for a week and when the sulking didn't work and no money appeared, I'd accept the right bike at the wrong time and move on, leave it be. I'd also keep the sellers contact details though in case who ever he sells it too, wants to sell it when your money comes through
So you asked for an honest opinion but dont like it when you get one, bit odd really. I agree with RBW and actually your original post does indicate you have no savings and your only liquid assets will not be available for a year. Im pretty generous with my kids and want them to enjoy things I never had at their age but if they ever ask me for a loan after "investing" in a race horse they will be very disappointed. If I were in your position Id give it a miss, there are many universal truths and one of them is THERE IS ALWAYS ANOTHER USED MOTORBIKE.
One thing of interest I've encountered - not on this thread - but amongst non motorcycling friends on this subject is when I have asked if they might think a bit differently if I had a lifelong interest in restoring dilapidated 19th century furniture and a piece came up that I wanted. Now they didn't change their views. But there was a noticeable reflection and sort of "well that would be different" going on in their heads for a few seconds. There is definitely a stigma about buying a bike, especially if you already have one. Somehow it seems to rank as some sort of ultimate indulgence, instead of being, in this case, just like any other hobby/interest.
Having another bike is great, one and you have always wanted, that is rare and a project - bloody marvelous! Borrowing money from your wifes clan, against her advice - awful idea. I'd like to say just go buy the bike and bugger the consequences, but in truth I haven't actually done that for many a year so I can't honestly reccommend something I wouldn't do myself. I do know how you feel; I just bought a project bike myself that I pick up on Sunday but paying in cash from money I saved especially for this reason. So in your shoes I would do three things. Ring the people you know in the Racing Horse club, and see what you can get for the nag. It might resolve the problem immediately! Take a loss if necessary unless you don't want the bike enough to sell Dobbin cheap? Buy a lottery ticket just 'cause you can and you might win... Tell your wife she is right about the loan from her dad, and thank her for the advice. PS. Don't be tempted by dilapatated furniture ever. It is different from buying a bike. Bikes don't have woodworm and are cool. Old furniture smells and is sh*t* LOL
@Jez900ie Cheers for that. Happily, sale of my share to one of the other parties in the consortium happened very quickly against my expectations so it has, as you say resolved itself, hence why I changed the name of the thread. Check out: https://www.ducatiforum.co.uk/threads/so-what-have-you-done-today.494/page-2521#post-1257567
Whoooo Hooo! Congrats on the new toy/ project/ investment (delete any inappropriate terms). You will have to cut quite a lot of the lower branches from your Xmas tree if you plan to stick it underneath... A very pretty bike. Enjoy.
@JoeC I was bought up that if you borrow money you always pay it back, and to this day only dept I have is my mortgage .
