My 1 Year Plan

[wookie]

Originally Posted by 4W4K3

Being young has it's negatives

Just wait 10 years.

[Clint]

In light of your financing troubles, I'll say it again. Buy a used bike! This "peace of mind" is hogwash. My first bike was a 1990 Yamaha Radian in 1995. I paid $1900 for it and it ran perfectly for years until I sold it. My second bike was a 1992 Highthawk. Paid about $2800 and it ran perfectly for years until I sold it. Both bikes looked nearly new. Modern bikes are tremendously reliable, and that means any "peace of mind" is not only mostly false, but also quite expensive. New bikes break, too, and a warrantee doesn't save you from roadside hassles.

Then there's the full-coverage insurance issue. Like the others said.

[Trapper]

If you've never rode before, how can you be sure that you'll want the M50 for a long time? I know a guy who bought an M50 last spring (forum member - Islander) just traded in for a Honda 919. Another buddy (forum member - Hunter) had an '04 Marauder and he totaled it an got a Bandit 650 with the Ins. money. If I had the cash I would trade my Marauder in today for a V-Strom 650.

$0.02

[4W4K3]

Originally Posted by wookie

One way out of this is to borrow money from your parents. Hopefully you're their favorite son and they won't ask you to surrender your bike to them if you cannot repay them or if the bike is lost or destroyed. That's assuming your parents have $7,000+ in cash available.

Not gonna happen. Dad already said he would not co-sign anything with me, and definetly wouldn't give me any kind of cash. I was never expecting him too though.

If I buy used, it will probably be something like an older Honda Shadow, I think. But again, it will require a long time of saving up my money, but I guess there is no way around that. Who knew financing was so difficult? Well I definetly didn't, I figured if I had the money it would be OK....AH WRONG! lol Or I might simply start out on and older sport bike, as I still wouldn't mind riding either.

[POE-BOY SAMICH]

[quote=RowdyRed94]In light of your financing troubles, I'll say it again. Buy a used bike! This "peace of mind" is hogwash....Modern bikes are tremendously reliable, and that means any "peace of mind" is not only mostly false, but also quite expensive. QUOTE]

C'mon Rowdy, I don't necessarily disagree with your take on used bikes nor deny there are likely a decent amount of reliable used bikes on the market. However, the peace of mind described herein is NOT "hogwash". What gives an individual peace of mind is very subjective. Some things might bother one person while not another. Sometimes they're little things, sometimes they're not. Just look at things like car alarms, house alarms, travel insurance, roadside assistance, and so on. Each of these things provides a service, but what it should ultimately provide is peace of mind. Yet, not everyone would agree that any or all of these things are necessary on your car, home, for your vacation, etc. However, you will find some who must have a car alarm, must get insurance while on vacation, or wouldn't dream of not having roadside assistance.

No one can convince me that I would have been as confident in the reliability of a used bike as I now am in my new C50. Yet, I don't doubt some would say I could have been just as happy with a used bike. Ultimately, as I mentioned on my last post, the decision has to be made on an individual basis. Although peace of mind can mean more expensive, the lack of providing yourself with peace of mind can sometimes cost you more than money.

[bikernoj]

Originally Posted by 4W4K3

I'm not too keen on fixing up someone elses broken bike, and I do not have the tools or the cash to deal with mechanical problems. Buying/financing a new bike is something I can afford to do, if it has any problems the warranty should cover it. I don't plan on doing any kind of mods...

Warranties only cover problems done by the manufacturer; anything that YOU do will come out of your pocket!

Originally Posted by 4W4K3

Unless you know of a place that guarantees a used bike to be in 100% perfect mechanical condition lol. With my luck I'd get a bike, and 1 month of owning it I would need to dump hundreds into it just to keep it running.

That's why we're here. You're saying that you will take really good care of the bike, but don't have any faith that someone else would do the same. Would you buy a used bike from yourself?

Originally Posted by 4W4K3

Or I can buy new, not have to worry about failures, and enjoy a bike I plan to keep for years.

Well, not to be a {edited: the filters exist for a reason}, but that's what we ALL planned to do with our first bike. The odds are against you keeping the bike long enough to pay it off completely, so make sure you get gap insurance. You could get lucky, and common sense CAN trump statistics, but people your age are the reason motorcycles get badmouthed. You do seem to have a plan laid out, which is better than most.

Also, one reason your quotes are so high is the Comp & Collision coverage, which you MUST have if you are financing. Buying a used bike outright, you can carry Liability coverage only, which is CHEAP. Also, if you're under 25, chances are your credit score isn't in the 800's and the dealer will laugh all the way to the bank with the 14% they'll charge you.

Listen to the group; they know what they're talking about.

[Rockhead]

Wow that just went over my head......

[Smurf]

Ok

[DrBob]

I am a big fan of buying what you can afford. I've seen folks with nice new bikes who can't afford to fix a flat tire because the payment and insurance take all their money each month.

I've had pretty good experience with used bikes. I currently have an Intruder 800 as my 'fun in the mountains' bike. I paid $2000 for it, and have put over 43,000 miles on it, replacing just the wear items like brakes and tires, which would have to be done no matter if the bike was new or used. The Intruder 1400 was used also, and between my sweetie and I we have put 16K trouble free miles on it so far this year. Even my antique Harley has been trouble free, though for what I paid for it the darn thing SHOULD be trouble free. I've had 10 used bikes and 2 brand new ones over the years, and the only one that was troublesome was a 27-year old rigid tail chopper with a Sportster motor in it, and I knew that one was a POS when I bought it.

So don't be scared of a used bike, as ANY bike is better than no bike, eh? Put aside a couple hundred a month for a year, and buy yourself a nice used Japanese bike. Ride it until you get sick of it, then sell it for a down payment and use the $200 a month for a new one.

[4W4K3]

Originally Posted by bikernoj

Warranties only cover problems done by the manufacturer; anything that YOU do will come out of your pocket!

That's not really a problem, it's the same for just about any vehicle. If I wreck it, I wreck it. If I have insurance I might be able to get some money back, but that's not always a guarantee.

Originally Posted by bikernoj

That's why we're here. You're saying that you will take really good care of the bike, but don't have any faith that someone else would do the same. Would you buy a used bike from yourself?

If I'm gonna buy a used bike it has to be local. I can't get on in another state. Kind of limits my options on buying from someone on the frums who I can "trust". No, I do not think everyone who tries to sell a bike is honest, or has kept it in good condition...think like that and you'll get suckered in and out of all kinds of sales. The whole, "It was only driven to the grocery and back" line is common among used cars. I'm sure there are plenty of great deals out there, but being that I've NEVER bought a bike before, and I know little about what to look for in a used bike...I was hoping to avoid this route. Coming back to the forums with all my questions isn't exactly feasible, unless the seller can wait, and no one else is trying to buy it out from under me.

Buying new really isn't an option anymore, I was denied an auto loan and I don't want to get raped on interest AND insurance at the same time if by some unknown power the dealer approved me. I'd rather wait 6 months and just look for a used bike while I build my credit up as much as I can.

Guess I'll just have to hold off on the fast food and friday night movies for a while! Gotta save save save! I know I said I'm not very looks driven, but I'm "more picky" when it comes to crusiers, as compared to sports bikes. Not many sports bikes I'd turn down, there are more styles of cruiser I just think look dorky lol. But if it's used, I wouldn't be worried about modding it any, as long as I can afford it.

EDIT: My signature has changed from "Ninja500R" from when I first joined, to "M50?" as of about a week ago, and now it's jsut plain undecided lol.

[wookie]

you can try marrying Paris Hilton for money....

yeah, financing is hard; welcome to the real world.

[4W4K3]

Heh, well hard for people with bad credit that is. My parents, as well as many others, can walk into a dealership and walk out with a car the same day...because there credit is amazing. Actually that's how my dad bought his Honda, it was a one day process. I can't even get approved for a Sears credit card lmao!

[4W4K3]

I have fallen in love with the Kawasaki Vulcan 500 already. Retails at less than $5000 brand new, I could get a used one in my price range no problems I think. How did I miss this bike when I was looking for cheap cruisers? I love the rear, it flips up like the M50! OMG, even has 6 speed tranny...

[wookie]

Nice looking one.

[robertc729]

I've considered the Vulcan 500 as my wife's first bike, if I can ever get her to the dealership to sit on it I would be able to narrow my search down.

[4W4K3]

They make a 125cc cruiser...I can't imagine how fast people would outgrow that thing. I mean I'm not trying to say I think I am going to be really skilled or anything...but 125cc? Man, that just seems tiny.

I don't like the look of the 750 as much as the 500, even though it is more powerful, probably has better features, I didn't really look at the specs. The Ninja 500R I was considering uses the same engine I believe, or it's the other way around.

[iontrap]

Originally Posted by techgesture

Check your dealer and find out how much they are going to charge you in "fees" and have them do an Out-The-Door write up for you. 07 MSRP is 6899... be prepared to pay more like 8K OTD.

This is so very true! I saved around 4k by getting a low mileage 04 over a new 06.

[4W4K3]

I'm hoping that $3,000 will be enough to get me a year 2000+ model. Not sure what colors they come in, I've only seen blue and red. Red I am not partial to, blue would be fine, black would beat them all lol.

A small smoked windshield and engine guard for convenience/safety are the only things I have looked at so far. Pipes later, I really like the mirrors, headlight, looks in general overall. The only thing that bugs me is the brake light, looks kind of clunky. Might be able to switch it out with an LED display of some kind instead...but again, that won't be for a while.