Couchy wrote: ↑Tue May 31, 2022 1:47 pm
There is the argument that buying a depreciating asset for cash is just plain daft, I always used to buy cash but now I wouldn't. I'd rather drop the cash into my pension and get 25% relief on it. Also a new £10k bike for £100 ish a month plus a deposit isn't even 2 good meals out. Buying cash is an old way of thinking tbh.
I used to agree but then I got ill, couldn't earn any money for 9 months, had loans and no longer felt that way
On a slight tangent, the dealer who has the STR has offered me pretty much the exact amount needed to clear my finance on the Trident. Thought I would be offered a little more. Could probably make £1000 selling privately, but I've never had good experiences selling privately. I can get a decent loan from the bank at just under 3%, so about £500 on interest over say 48 months isn't too bad.
Possibly a bit old fashioned, but if I cant afford it, I dont buy it!
I have never had a vehicle on the knock in my life.
Have I missed out on anything (except a panigale)
My bikes were always bought on HP as i didnt spend a lot on them until i bought the first Ducati. It cost almost 3 times what i have previously spent on a bike and was bought on a PCP purely based on the fact it was smaller payments over 48 months and 46 months after i bought it i would have the finance available to clear it completely .....plus the missus said "fuck it, if you want it, get it as you need something better for your trip away next year"
When it was written off and the finance cleared i bought the second one cash as i was in a position to do so. If not it would have been a bank loan as the interest is far lower and my credit rating pretty much says i will get what i apply for
Couchy wrote: ↑Tue May 31, 2022 1:47 pm
There is the argument that buying a depreciating asset for cash is just plain daft, I always used to buy cash but now I wouldn't. I'd rather drop the cash into my pension and get 25% relief on it. Also a new £10k bike for £100 ish a month plus a deposit isn't even 2 good meals out. Buying cash is an old way of thinking tbh.
Potter wrote: ↑Tue May 31, 2022 2:25 pm
I know it's semantics but if it's a depreciating asset then by definition you're writing it down every year until it doesn't owe you anything, so unless it's a crated RC30 or something then it's not an asset to me, it's simply a liability, i.e. it's a cost. You can argue that not paying up front means that you have the asset plus the debt on your balance sheet, which should cancel each other out, but this is a bike we're talking about, I'd rather not have the hassle and just buy what I can afford.
They’re just different sides of the same balance sheet. There’s better uses for cash than to have it tied up in a depreciating asset.
That, of course, is from a business expenditure point of view. Personal finances are a bit different but the principles hold true.
I bought a van for cash a few years ago without thinking. My accountant almost tore me a new one.
Ultimately it comes to disposable income for me. I have much more than I ever have, and that was because so much of it was tied up in debt for over 10 years. I have savings, something I've only had in the last 18 months. Owning the Trident has not been a worry at all from a financial point of view. I'm finally enjoying something without the weight of all that debt over my head.
Of course, the economy is always a worry, maybe moreso now than in the last 10 years or so, but I can weather the storm for a while if it comes.
Rang my insurance company this morning to enquiry about changing to the Street Triple above. Any guesses? £50 extra? £100 extra? Not even close. They wanted an additional £610. So, that would make it almost £1100 a year.
Insurance companies are taking the piss out of me.
Guess I'll be riding the Trident until I'm either 60, or live in the arse end of nowhere with no crime. It really is like being 18 again.
I think you'll find that's how it is at the moment when swapping, but not when you start a new one at end of term. So i'd wait until your year is up and see. I'll bet if you use a comparison site the new quote won't be anything like Trident + Triple in cost.
To move from the MT07 to the 690 SMCR mine wanted £90... which i thought was a joke... but sometimes we just do things to get deals done.
weeksy wrote: ↑Tue Jun 07, 2022 9:50 am
I think you'll find that's how it is at the moment when swapping, but not when you start a new one at end of term. So i'd wait until your year is up and see. I'll bet if you use a comparison site the new quote won't be anything like Trident + Triple in cost.
To move from the MT07 to the 690 SMCR mine wanted £90... which i thought was a joke... but sometimes we just do things to get deals done.
I actually tried a comparison site just now, same prices.
weeksy wrote: ↑Tue Jun 07, 2022 9:50 am
I think you'll find that's how it is at the moment when swapping, but not when you start a new one at end of term. So i'd wait until your year is up and see. I'll bet if you use a comparison site the new quote won't be anything like Trident + Triple in cost.
To move from the MT07 to the 690 SMCR mine wanted £90... which i thought was a joke... but sometimes we just do things to get deals done.
I actually tried a comparison site just now, same prices.
Ditchfinder wrote: ↑Tue Jun 07, 2022 9:50 am
Couple more years of no claims and it will start to come down, maybe the advanced training you've started doing will help too?
It's postcode related. And moving house is a bit more expensive.
£757 for an 890 worth £9k, that's with MCN. Then it goes from £1200 upwards. And also, that's garaged with a serious chain, datatag, disc lock etc. MCN quote £1300 if kept on a driveway.
£757 for an 890 worth £9k, that's with MCN. Then it goes from £1200 upwards. And also, that's garaged with a serious chain, datatag, disc lock etc. MCN quote £1300 if kept on a driveway.
Is it because you're going to a higher value bike ?
