CYCLEWORLD used bikes?

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sid_for_speed said:
THE MECHANIc's supervisor took a look at my bike and said - sir get this thing outta my property. I cannt help you....very nice and helpfull...

good luck with your shopping there :)
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Same here I took my bike there for a tune up and oil change, the service advisor told me that my bike is tool old, and not worth the expense.
Go to GP they have better people.
 
rome said:
Same here I took my bike there for a tune up and oil change, the service advisor told me that my bike is tool old, and not worth the expense.
Go to GP they have better people.
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This sounds exactly like how the old Cycle World West used to operate... I wonder if they inherited some of their staff
 
I just financed my bike for the first time in 17 years of riding. 0.8% interest and fully open seemed kinda of dumb not to have my money sitting in investments instead of in a bike.

Obviously if the interest was higher then I wouldn't recommend it but using a blanket statement as financing a bike is dumb well is dumb.
 
If you are living paycheck to paycheck paying interest on debt, borrowing more money (no matter the interest rate) is not a good idea.

If you're paying off your credit card balance in full every month (using it for convenience / airmiles / rewards etc) then you have options ...

If you can borrow at an insanely low rate taking into account ALL of the fees and commissions AND that you will have to take out full-coverage insurance (if you would have done this anyhow, then it doesn't matter) ... It's better to leave your capital invested, take out the loan, and just make the payments.

My brother-in-law (retired, and well-off) just moved to a new house ... and took out a mortgage at <3%, and invested the proceeds from selling the old house ...

I just bought a new bike, but rather than financing it, I paid cash, then in an unrelated (to the taxman) deal, borrowed from a line of credit and invested that ... the advantage here is that the interest on that loan is tax deductible. $-)

If you don't have the resources to play these games, you probably shouldn't ... and by not doing it now, you have a better chance of being able to play those games later in life. "Live within your means"
 
If you must finance get it from a bank loan and not from the dealership. That said financing for toys is not smart financially.
 
A $2500 bike over 12 months at 10% is $220/m. If your mind set is shouldn't be riding if you have to finance then you must be broke.

I almost financed a new 2014 VFR800 a while back. $17k OTR something like 1.9%. The cash I have on hand is returning around 6%. um yea. finance was the way to go


I'm debating on financing a $1k jacket. intro rate on my new credit card is 0% for 6m Cash in my thing at the bank is paying me 4%. hmm
 
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Keep in mind, we are talking about financing a used bike, from a dealership with 3rd party loan company. There are a lot of people that need to get paid. I doubt any rate would be sub 4.8%, and that is being generous.
 
I'd see your bank about a personal loan before those cut throat 3rd party loan thieves. Anything over 10-12% interest I'd walk away, save up, and wait util next year.
 
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starboy869 said:
I'd see your bank about a personal loan before those cut throat 3rd party loan thieves. Anything over 10-12% interest I'd walk away, save up, and wait util next year.
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If you're willing to pay 10% interest, pm me and we can work a deal! ?
 
I wouldn't since I'd just give my bank an email and transfer the money back to my account. I'm tempted to some private loans out for 15%. risk is there, but the profit. $5k would return around $7500k in three years. A lot more than what I'm making now. However I'll need to find the right person, and not just anyone.

However not everybody credit is perfect and it's understandable.

I thought personal loan rates around 8% for those with prefect credit? it's been a while since I've looked it up.
 
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Collateral loans about 4.5-5% I think. Called SF for a kid at work and that's what they told him. I remember my aunt in 1988 was paying 18% for her Hyundai Excel!
 
I'm seeing some questionable math in this thread... I'm just gonna state for the benefit of all, that something like 3.9% APR does not equal 3.9% effective annual interest. You have to add the prime interest rate, which right now stands at 2.85%.

For those that already knew this, you will not have to take the pop quiz that I'm handing out
 
TwistedKestrel said:
I'm seeing some questionable math in this thread... I'm just gonna state for the benefit of all, that something like 3.9% APR does not equal 3.9% effective annual interest. You have to add the prime interest rate, which right now stands at 2.85%.

For those that already knew this, you will not have to take the pop quiz that I'm handing out
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Plus various fees that feed banks and other leeches, plus the requirement for full insurance by the financer...
 
Brian P said:
moved to a new house ... and took out a mortgage at <3%, and invested the proceeds from selling the old house ...

I just bought a new bike, but rather than financing it, I paid cash, then in an unrelated (to the taxman) deal, borrowed from a line of credit and invested that ... the advantage here is that the interest on that loan is tax deductible. $-)
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Be careful how you do that, because RC can tax you right back if the loan is not repaid in time and the investment does not make a profit.
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