Curious. From time check in mail / courier how long was it before BWM confirmed to buyer lien released?
Are we talking 2 business days, a week??
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Trading-in Pros and Cons
- Thread starter motorsiklo
- Start date
Curious. From time check in mail / courier how long was it before BWM confirmed to buyer lien released?
Are we talking 2 business days, a week??
There are pros and cons to using dealer credit to buy a bike. Some people may not have a credit history or a HELOC to fall back on.
Can you afford insurance on the more powerful bike?
You can count on the dealer giving you about 60% or 65% of what it is going to retail for on his floor. On top of this you get a tax credit of 13%. The lien is not on issue if you trade it in.
Can you find a buyer will funds or credit willing to buy your bike with a lien. How much extra will you get selling privately with the tire kickers, the low ballers, the jerks who want a joy ride etc,,,,,, Is it worth the hassle to sell privately, and then losing the 13% tax credit? Just how much further will you be selling privately vs. just trading it in?
Can you afford insurance on the more powerful bike?
You can count on the dealer giving you about 60% or 65% of what it is going to retail for on his floor. On top of this you get a tax credit of 13%. The lien is not on issue if you trade it in.
Can you find a buyer will funds or credit willing to buy your bike with a lien. How much extra will you get selling privately with the tire kickers, the low ballers, the jerks who want a joy ride etc,,,,,, Is it worth the hassle to sell privately, and then losing the 13% tax credit? Just how much further will you be selling privately vs. just trading it in?
Einstein said, "Compound interest is the eighth wonder of the world. Those who understand it, earn it. Those who don't, pay it."
Borrow money to finance appreciating assets.
Use cash for depreciating assets.
Borrow money to finance appreciating assets.
Use cash for depreciating assets.
I always want to see the registration changed. Paranoia.
Re never buying a toy until you can pay cash, if you wait until you've bought and paid off your house, your first bike will probably be a trike because you'll be to old to balance a two wheeler.
If I had followed my older rules when I was young I wouldn't have experience owning a nice sailboat and an airplane. But always have equity. Nothing hurts as bad as paying to get rid of something.
The high interest hammer of the early 1980's had people selling boats for five figures less than what they owed on them. They added the loss to their mortgages to reduce the money bleeding. Adding to the problem, big items need storage space and the storage yards often do well. The boat is depreciating. It's a buyers market. The marina charges even if the boat isn't in the water. You can't use the boat. Insurance is still a must.
The more complicated version of that game is trying to predict inflation. If the interest rate you are paying is less than you think inflation will be, you are better off financing a depreciating asset. The hard part of that trap is people often buy a much more expensive thing when financing vs paying cash. That ruins the whole process and brings you back to Einstein.
Confirmed verbally about 3 business days. Email and letter following about 1.5 weeks later.
motorsiklo
Well-known member
About 3600..?
Chameleon
Well-known member
Yeah that's not a whole lot really. There's people on here that could do that on a long weekend. So expect a barrage of messages similar to the ones you've been already getting..
I think there's still a lot left to learn on a 400. Obviously we all want the next new sparkly (faster) thing.. but like everyone said, financially it doesn't make sense.
cruiserider
Well-known member
Lots of good old "mom's" talk and nothing wrong with that, but it's OP's money and if he's not happy with the bike - trade it in and get something with more power. Remember, this is motorcycle forum and generally people think that riding one is irresponsible thing to do. Liens can be paid off by the buyer, rolled in on the new bike - people do it all the time, it's not the end of the world. 3600km is long enough for me to realize if 5 like the bike or not. And if I don't, I'm not going to suffer for another 36000 km just because it makes sense financially. I would say, go test drive some bikes, see what the dealer can do and consider your options.
Sent from my iPhone using GTAMotorcycle.com
Sent from my iPhone using GTAMotorcycle.com
Take it to a track and see how you feel after a few laps.
motorsiklo
Well-known member
Thank you.
I’m typically in the camp if only pay cash, but sometimes it’s nice to pay it down over time.
I sold the X and got some cash for it.
Option 1: keep money on shelf and wait until I find next bike
Option 2: pay down reno costs to reduce interest and buy bike with remainder + LOC
I’m taking Option 2 right now considering my search is taking longer.
No right answer.
To OP: it’s your money, but don’t jump the gun for the sake of jumping the gun. List the bike online, go see some dealerships and get a trade in price. Do the math. And enjoy.
I sold the X and got some cash for it.
Option 1: keep money on shelf and wait until I find next bike
Option 2: pay down reno costs to reduce interest and buy bike with remainder + LOC
I’m taking Option 2 right now considering my search is taking longer.
No right answer.
To OP: it’s your money, but don’t jump the gun for the sake of jumping the gun. List the bike online, go see some dealerships and get a trade in price. Do the math. And enjoy.
@motorsiklo here you go...
Only a handful available in Ontario that are NOT new from a dealership.
Highest price for a 2022 w/ 4100km (is that yours in white?) is $7300 (this is someone trying to pay off their loan and tax)
Brantford - $5800 (2022)
Sarnia - $5800 (2022)
Hamilton - $6800 (2021)
Gatineau - $6000 (2020)
Now for the dealers (used)
Toronto - $5400 (2019)
Gatineau - $6400 (2022)
North Bay - $7500 (2021)
So ... as a private seller...I'd offer you 5k simply because it's what that bike would be worth to me. You wouldn't take it, and the dealer would probably offer you 4-5k as a trade (plus the 13% hst on the trade so a max of $5650 - whatever you owe on it = down payment on new bike).
Good luck (non sarcastic) I hope you find what you're looking for.
www.kijiji.ca
Only a handful available in Ontario that are NOT new from a dealership.
Highest price for a 2022 w/ 4100km (is that yours in white?) is $7300 (this is someone trying to pay off their loan and tax)
Brantford - $5800 (2022)
Sarnia - $5800 (2022)
Hamilton - $6800 (2021)
Gatineau - $6000 (2020)
Now for the dealers (used)
Toronto - $5400 (2019)
Gatineau - $6400 (2022)
North Bay - $7500 (2021)
So ... as a private seller...I'd offer you 5k simply because it's what that bike would be worth to me. You wouldn't take it, and the dealer would probably offer you 4-5k as a trade (plus the 13% hst on the trade so a max of $5650 - whatever you owe on it = down payment on new bike).
Good luck (non sarcastic) I hope you find what you're looking for.
kawasaki z400 in Motorcycles in Ontario | Kijiji Marketplaces
Find kawasaki z400 in Motorcycles in Ontario. Visit Kijiji Classifieds to buy, sell, or trade almost anything! Find new and used items, cars, real estate, jobs, services, vacation rentals and more virtually in Ontario.
www.kijiji.ca
motorsiklo
Well-known member
@motorsiklo here you go...
Only a handful available in Ontario that are NOT new from a dealership.
Highest price for a 2022 w/ 4100km (is that yours in white?) is $7300 (this is someone trying to pay off their loan and tax)
Brantford - $5800 (2022)
Sarnia - $5800 (2022)
Hamilton - $6800 (2021)
Gatineau - $6000 (2020)
Now for the dealers (used)
Toronto - $5400 (2019)
Gatineau - $6400 (2022)
North Bay - $7500 (2021)
So ... as a private seller...I'd offer you 5k simply because it's what that bike would be worth to me. You wouldn't take it, and the dealer would probably offer you 4-5k as a trade (plus the 13% hst on the trade so a max of $5650 - whatever you owe on it = down payment on new bike).
Good luck (non sarcastic) I hope you find what you're looking for.
kawasaki z400 in Motorcycles in Ontario | Kijiji Marketplaces
Find kawasaki z400 in Motorcycles in Ontario. Visit Kijiji Classifieds to buy, sell, or trade almost anything! Find new and used items, cars, real estate, jobs, services, vacation rentals and more virtually in Ontario.
Mine is not posted for sale anywhere. I’ve decided to keep the bike and shopping around for a second bike. Thanks.
I'm the opposite of crankcall. I think you should buy and learn on a small bike. One that you need to shift, shift, shift, shift, and shift again, until you start to do it by instinct. Take it all over and try different things with it. Learn where you like to ride, and where it's not very good. Do some minor maintenance on it and get a feel. Once you've gotten a good feel for where and when you like to ride, and you can do it decently, then buy the last motorcycle you will ever own (for now). I thought my little 250 was underpowered, and I had a hard time keeping up. My experienced friend traded bikes with me, and showed me that it was I and not the bike that was at fault. Now I could do better.
I believe he was just crank calling...
afford or "Scrape together enough money to purchase"
The question is "What is your ultimate bike?"
Any money you spend on anything else is money you won't have to buy the ultimate one.
Unlike appreciating assets like houses that build equity most toys are carrots at the end of expensive sticks. The only thing more costly than a poorly chosen toy is a poorly chosen partner.
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