What to do?

[Skub]

I'm the same, I rarely waste money and I usually buy carefully with a view to it being an appreciating asset, but the value of the RE was written off as soon as I bought it, I always knew I'd lose money on it. The way I viewed it is it cost me a bit to own it for the year and I think I got that much value back from it, my lad used it to learn on and that on it's own was worth it. If I amortise that cost/value in good memories over a lifetime then it's peanuts.

Out of interest, what did the RE cost per month over your ownership? Anything close to 200?

There are other uncommon aspects at work there to muddy the waters of that particular calculation.

Because of the chip/materials shortage in the automotive industry,used prices are unusually high,so it is very possible to have bought a new bike in 2020 and lose very little in a straight sale in 2022.

[A_morti]

I've still not got my head around the idea of leasing a bike. Motorcycles are toys for most of us, and if you can't afford to buy a toy in cash then you shouldn't buy it. It's not something that's worth having a debt for.

I'm sure I sound even older than I am, when I say that.

[weeksy]

I've still not got my head around the idea of leasing a bike. Motorcycles are toys for most of us, and if you can't afford to buy a toy in cash then you shouldn't buy it. It's not something that's worth having a debt for.

I'm sure I sound even older than I am, when I say that.

when you say YOU, you mean YOU...

Not all of us are the same as you.

[Taipan]

I've still not got my head around the idea of leasing a bike. Motorcycles are toys for most of us, and if you can't afford to buy a toy in cash then you shouldn't buy it. It's not something that's worth having a debt for.

I'm sure I sound even older than I am, when I say that.

Personally, I'd never secure a loan against an asset. So if I wanted something I didn't have the cash for, I'd just get a personal loan. That way, should the need arise, I could always liquidise the asset I'd bought. You cant do that with a secured loan, well, not easily anyway...

[Mr. Dazzle]

I've still not got my head around the idea of leasing a bike. Motorcycles are toys for most of us, and if you can't afford to buy a toy in cash then you shouldn't buy it. It's not something that's worth having a debt for.

I'm sure I sound even older than I am, when I say that.

Personally, I'd never secure a loan against an asset. So if I wanted something I didn't have the cash for, I'd just get a personal loan. That way, should the need arise, I could always liquidise the asset I'd bought. You cant do that with a secured loan, well, not easily anyway...

The bike/car loan is secured on the bike anyway, so they'd just repossess the bike? Is that not the same thing?

Other than how it effects your credit score maybe.

[Scotsrich]

I've still not got my head around the idea of leasing a bike. Motorcycles are toys for most of us, and if you can't afford to buy a toy in cash then you shouldn't buy it. It's not something that's worth having a debt for.

I'm sure I sound even older than I am, when I say that.

I can sort of agree with that but then again I’ve never had much money and a regular payment for a bike would have tipped my budget over the top. I’ve always paid cash for everything.

But everyone else does it and on the positive side it ensures a supply of newish low mileage bikes for the second hand market.

[A_morti]

when you say YOU, you mean YOU...

Not all of us are the same as you.

I do indeed. Clearly a lot of people do get it, because it's one of the more common ways to buy a vehicle these days.

Isn't it comparable to people with no money to their names owning an iPhone 15 (or whatever) which cost them £1k they don't have, though? And they end up paying >£1k for it, because they didn't have the money in the first place? ofc, they're only really in trouble if they fail to make the monthly, or break/lose the thing.

Like I say, I've not got my head round the concept so I may be misunderstanding it completely. Or I may just be cynical.

[Mr. Dazzle]

I've not got my head round the concept so I may be misunderstanding it completely.

I think sir may be overthinking it.

Want it now, don't got the money now. Not a problem!

[Taipan]

I've still not got my head around the idea of leasing a bike. Motorcycles are toys for most of us, and if you can't afford to buy a toy in cash then you shouldn't buy it. It's not something that's worth having a debt for.

I'm sure I sound even older than I am, when I say that.

Personally, I'd never secure a loan against an asset. So if I wanted something I didn't have the cash for, I'd just get a personal loan. That way, should the need arise, I could always liquidise the asset I'd bought. You cant do that with a secured loan, well, not easily anyway...

The bike/car loan is secured on the bike anyway, so they'd just repossess the bike? Is that not the same thing?

Other than how it effects your credit score maybe.

That's hire purchase. I'm not talking about that. I'm saying I wanted say a £5k bike, i'd just get a personal loan from the bank for £5k, then buy a bike.

[Count Steer]

I've not got my head round the concept so I may be misunderstanding it completely.

I think sir may be overthinking it.

Want it now, don't got the money now. Not a problem!

Works for buying houses. Totally agree about the 1k phones though.

[Mr. Dazzle]

Personally, I'd never secure a loan against an asset. So if I wanted something I didn't have the cash for, I'd just get a personal loan. That way, should the need arise, I could always liquidise the asset I'd bought. You cant do that with a secured loan, well, not easily anyway...

The bike/car loan is secured on the bike anyway, so they'd just repossess the bike? Is that not the same thing?

Other than how it effects your credit score maybe.

That's hire purchase. I'm not talking about that. I'm saying I wanted say a £5k bike, i'd just get a personal loan from the bank for £5k, then buy a bike.

Yeah I think most people would - the only reason not too is if you're talking substantially more than £5k! I could probably get an unsecured cash loan large enough for a Panigale but not for a 911 IYSWIM.

[Mr. Dazzle]

The only downside to that is the opposite argument really. "You scratched our bike" etc.

[Asian Boss]

...
Trust me, I am Mr Balance Sheet, Mr P&L and Mr Risk all rolled into one, I spend all day doing this stuff, every bean that I spend gets analysed for ROI and value - but sometimes it's worth spending a bit more for a hassle free experience. If I have a puncture, if it breaks down, if it needs servicing, etc, I call the lease company and tell them to collect it and bring me a replacement.

You should try Quickbooks, I think that's what most of the lads use these days, lets them focus on what they're good at.

[Cousin Jack]

Met up with a mate the other day who told me that Honda are now leasing h'Africa Twins for £200 a month.

Now if only I could lease for that sort of price in the UK. Bike hire seems to run around £600 - £800 per WEEK!
No doubt a longer term lease would be cheaper, but I doubt it will be even close to £200 per month.

[weeksy]

Went onto our local FB bike site this morning and the lad I sold the bike to at a really good price as a favour because I wanted to be nice to him ("I don't have much money, it's my first bike guv honest, I've saved up all year for it, it's my dream bike, etc) is selling it for £1100 more than I sold it to him for a couple of days ago and £100 more than I paid for it new a year ago

I'm way too soft.

Maybe he rode it and hated it?

I'd go over and piss on the back tyre though.

[dosruedas]

We need all the entrepreneurs we can get in this country - legit ones that is. Sounds like he is making a good start.

[Skub]

Went onto our local FB bike site this morning and the lad I sold the bike to at a really good price as a favour because I wanted to be nice to him ("I don't have much money, it's my first bike guv honest, I've saved up all year for it, it's my dream bike, etc) is selling it for £1100 more than I sold it to him for a couple of days ago and £100 more than I paid for it new a year ago

I'm way too soft.

Heh,some scoundrels out there.

I know a man,let's call him Carse,who was given a box of Brit spares free,by a man we'll call Harry.

A few months later Harry finds himself restoring an old Brit iron and needs one of the parts he gave to Carse.

Carse never even blushed when he told Harry how much he'd need to pay him for the part.

He was a real piece of work and being traffic plod at the time,you really had to be careful what he knew about you. He'd dob you in,in a second.

[Mr. Dazzle]

I get the feeling Iccy would be more annoyed if the dude quickly sold it on for less than what he paid.

[Jody]

£200 isn't much (to you) but you're only considering it because your mate mentioned it and you're bored.

I guess they charge you extra if you bring the bike back with 'too many' miles on it. See if they will do you a deal if you bring it back in 6 months with less than 200 miles on it !

[Tricky]

I keep looking at the new CB1000R.

So you should buy that and make me jealous.

Buy this older one and make Mike Brewer look even shorter and fatter than he actually is

https://www.ebay.co.uk/itm/125154418315 ... SwI5piDruo