Originally Posted by
ilovecycling
Do whatever you feel comfortable with. To those people saying "OMG A LOAN FOR A BIKE? NEVERRRRR." Chill out and consider that not everyone is in your situation and you don't know anyone else's. If deals like no interest/same as cash for 12 months come up, why not take them and keep your cash for other investments? I make enough money to buy any bike I want with cash, but sometimes I "finance" them anyway and pay them off when I feel more comfortable letting go of the cash. No interest = no harm. Get over yourselves.
Nothing wrong with that, but you are assuming that the buyer already has the money available to cover the purchase in cash. If he does, great.
Financing a $10k bike with no interest when you have $10k disposable income in the bank = no problem
Financing a $10k bike with or without interest when you have $10 in the bank = idiocy
Originally Posted by
StanSeven
What I'm suggesting is people should weigh the impact of their decisions first. To many people, financing a bike makes perfect sense. If it gets them out riding when they otherwise wouldn't, that's a good thing and likely worth the financing cost.
Yes, until they crash after a week and the bike is written off as a total loss. Or they rack up $20000 in medical bills after that crash. Now you're in a deep financial hole with nothing to show for it. Yeah, that's a really good thing.
I can say the same thing about buying a Ferrari (and I've owned one). Sure you can borrow $200k to buy one and feel great driving it when you otherwise wouldn't, but I wouldn't be feeling that great if I knew I was in over my head in a whopping huge car loan.
Originally Posted by
pallen
not trying to pick on you, but I hear this rationale a lot on BF and it really bugs me. If buying something expensive is the only thing that gets you out and riding, you need to change something else and learn to be happy with less. That new bike feeling will be gone again in a few weeks or months no matter how much you spend.
Exactly. What can a $10k bike do that a $3k, or even sub-$1500 bike do that gets you out and riding more often?