Originally Posted by
merlinextraligh
But if you mean you can pay it off in payments over the 12 months from income you anticipate you will earn in the 12 months, then there's a problem. Whenever you spend money you don't have, banking on anticipated future income, you're taking a risk, and most any financial planner is going to tell you that's a bad idea for a completely unnecessary purchase. What happens if you lose your job in that period?
So true. You can't really afford the bike you are looking at if you ask about financing. I would strongly suggest saving up cash in hand. But if you must have the "i need it right now" mindset finance as little and as low as you can. In other words think cheap at a low rate. This is how credit cards get a bad rap. I have 1 credit card I pay off every month for goods/services I would use anyways such as gas and food. For my bike I had to save up money that I did not need.
btw with a little savings and some smart planning its not hard to make $5,000 in a year. Why not go in with the mindset of saving and getting a good deal on last years model? just a thought.