Author Topic: Dilemma time...  (Read 1394 times)

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Offline Caaveman82

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Dilemma time...
« on: October 09, 2008, 12:07:55 PM »
     It's almost mid October here in Minnesota and it's getting way cold. I wore full long johns under my gear plus a pair of longer shorts under the jeans and an additional thermal shirt over the long john shirt but under the t shirt plus a hoodie and the leather jacket. Used my neck gaitor and a beanie under the helmet, two pairs of gloves, wool socks over the normal socks. Still froze my butt off.

     My point to all that is that it's close to the end of the riding season and I am at a cross roads. I love the Honda. A lot. The style, the feel, it's just a classic. It's also been quite a head ache.

     Basically my dilemma is I want to buy a new bike. I don't quite have the money saved up for it yet. I stopped smoking last summer. I started putting the ten bucks a day I spent on smokes away and ended up saving $3,650 in a matter of a year. So I got that, if I keep saving by next summer I could have over 5k saved up.

     That money I have been saving is my project money. I don't spend any other cash on the bike. So my dilemma is I don't know weather to just flush that cash down the toilet and finish the Honda or just sell the Honda so I can get the bike. I refuse to finance anything. It's a bad idea. Why pay extra for something? Other than a house I don't see the point.

     I just don't have the money to do both, though I wish I did. The problem is throwing all the time and money into the Honda and having no return makes me a little woozy. I just don't know what to do really. I'm torn. I would like to have a reliable bike, which the Honda could be, but like I said, no return. I just don't know. I understand it comes down to preferance, but man oh man this is a tough one...
Do not act as though you could kill time without injuring eternity. - Dave Thoreau

Offline my78k

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Re: Dilemma time...
« Reply #1 on: October 09, 2008, 12:17:09 PM »
My .02 cents is don't sell the Honda. Keep it and still get the new bike.

The Honda is obviously road worthy but I doubt you would get a ton for it (tho I could be wrong as I admittedly don't know your current ride). Save the extra few bucks and get whatever it is that you are looking for in a new bike but this way you will still have osmething to tinker with.

I sold my K8 after I got my CBR and regret it. Mainly because the CBR requires no maintenance. Odd thing to say I know but there isn't much wrenching to do on a bike like that. Oil changes and chian adjust and that is about it.

The Honda isn't going to depreciate at all so you won't lose anything and you can still play around and when you do get a few extra bucks (tax return , overtime or whatever) you can still have a project on the go.

Dennis

Offline scunny

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Re: Dilemma time...
« Reply #2 on: October 09, 2008, 12:31:20 PM »
well said Dennis
I' sold a GS1000 to buy a new Katana when they came out. it was reliable but lacked that tinkering factor. now wish I still had the 1000 but no urge to own another katana, some bikes have it and some don't
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Offline Caaveman82

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Re: Dilemma time...
« Reply #3 on: October 09, 2008, 01:16:09 PM »
I guess I could finance two grand and just try to make more than minimum payments...

I sold my K8 after I got my CBR and regret it. Mainly because the CBR requires no maintenance. Odd thing to say I know but there isn't much wrenching to do on a bike like that. Oil changes and chian adjust and that is about it.

     That doesn't sound odd at all. I love projects and I love working with my hands. I'll always be a gear head even when I become a suit in a year or two.
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Offline gerhed

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Re: Dilemma time...
« Reply #4 on: October 09, 2008, 01:41:38 PM »
I guess I could finance two grand and just try to make more than minimum payments...

I sold my K8 after I got my CBR and regret it. Mainly because the CBR requires no maintenance. Odd thing to say I know but there isn't much wrenching to do on a bike like that. Oil changes and chian adjust and that is about it.

     That doesn't sound odd at all. I love projects and I love working with my hands. I'll always be a gear head even when I become a suit in a year or two.
Keep the Honda !
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Offline Caaveman82

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Re: Dilemma time...
« Reply #5 on: October 09, 2008, 03:05:43 PM »
  Yeah suit. I'm finishing up my degree in civil engineering. I want to do project management. I work "part time" at a firm and full time at the wheel shop and then go to school part time. I say "part time" because really they just suck up my weekends, I come in and bring coffee for all the big dogs and do all the paper work while they sleep and then rubber stamp the crap and then I get to run them all over the damn place. lol. Gotta start some where though..


     Today is a perfect example of what I mean. I am now stuck at work because my throttle cable snapped. I understand this could happen to any bike, but the real teeth grinder of the whole thing is that I replaced it when I got it this summer, so it's less than six months old. So either I got a faulty cable or I have faulty karma. Another nail in the coffin..
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Offline Jerry Rxman Griffin aka MuthaF'er

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Re: Dilemma time...
« Reply #6 on: October 09, 2008, 03:19:00 PM »
I've had my bike for 33 years. Many years I didn't have the time to ride, couldn't afford to repair the old bike, it wouldn't run, etc BUT I kept it anyway for when the urge hit me. It wasn't depended on and usually didn't/wouldn't go far but will now. I needed dependability so I bought a new bike in 2001 to ride. I might average 1000 miles on a good year on the 750 but many more on the newer 2003.

KEEP IT! Won't cost anything sitting there and you won't get rich off of selling it.

PS Congrats on quitting!! I'm a pharmacist and when I counsel people about quitting I tell them to do exactly as you did - put $5 or $10 in the jar beside your bed every morning as an incentive and reminder, then treat yourself!     
As of today 3/13/2012 my original owner 75 CB750F has made it through 3 wives, er EX-wives. Free at last.  ;-)

Offline Caaveman82

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Re: Dilemma time...
« Reply #7 on: October 09, 2008, 03:22:47 PM »
Thanks it was tough as heck but with good friends and my little girl cheering me on I was able to do it.
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Offline Ecosse

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Re: Dilemma time...
« Reply #8 on: October 09, 2008, 06:51:26 PM »
I'm with Rxman all the way. Storing classic cars... now that's a pain in the butt if ya don't have the room. I've sold some of my old cars only to deeply regret it. And you know what they say about regret...

Mothball it if you must; and when your new high stress job begins to eat at you there will be the CB quietly waiting to renew your soul.
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KARamsay

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Re: Dilemma time...
« Reply #9 on: October 10, 2008, 04:37:46 AM »
Funny commentary.   Good show on the quitting and saving the $3.5K.  That is well worth it! 

I am also a CE and have had motorcycles since I was 14 years old and rolled a 72 CL350 back from the neighbors barn.  I'll never get another chance to get back some things I have sold  -1938 National Duolian, that CL, and a few other little gems. 

Keep it, love it, and use your well saved money towards something else.  As for bikes... for that price, you can pick up something really great to put commuter miles on and save the CB for the play time. 

Did you have something in mind?

     

Offline mystic_1

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Re: Dilemma time...
« Reply #10 on: October 10, 2008, 05:31:11 AM »
I would like to have a reliable bike, which the Honda could be, but like I said, no return.


If you're talking just about money, you may be right, but I think (and I think many would agree) that the intangible returns are priceless.

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Offline techy5025

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Re: Dilemma time...
« Reply #11 on: October 10, 2008, 06:15:20 AM »
I agree with the others.....keep the CB. In terms of buying a new bike, it would represent a small part of the purchase price. Why not compromise and get a one/two year old "new" bike to stretch your budget. Bikes change little year to year....careful shopping can get you a great bike.

The one bike I really want is the one I sold when I bought the CB750 in 1969...a Honda Dream.  :(

Jim

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Offline Caaveman82

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Re: Dilemma time...
« Reply #12 on: October 10, 2008, 10:52:10 AM »
Did you have something in mind?


     I got a ride to the dealer and test drove it and I have made up my mind. I want a Triumph Street Triple. I have test drove all my other choices and that thing is just too awesome. Most comfortable sport bike I've ever driven. Fast, agile, light, and it looks good. It's a hooligan! Also they only started making them in 2007 so even a used one, that may or may not be in good working condition, will cost almost as much as a new one. Not to mention I wouldn't buy a used anything from the only dealership that sells Triumph here in Minnesota, they are shady as heck. Last year all their used models were bikes won at some state auction and as long as they started up and could idle for five minutes it was sellable... :o

     Any way, I am just afraid to finance things because everyone I know is in some sort of credit trouble and so far I have been able to avoid it by paying cash for everything. That's why I was thinking of selling the Honda to bridge the gap... :-\

     Though reading the responses I think you all may be right... even though it has been a #$%^ing pain in my $$@ it has also been a blast to work on, minus the huge burn scar on my leg from touching it on the header pipe accidently and the three stitches on the back of my hand from a screw that exploded and I drove the screw driver right into my hand, other than that it's been a great time. Lol. :P

     I think I'm just gonna bite the bullet and finance the two grand. I am sure a lot of you are like two grand? Really? I know a lot of people would finance that in a heart beat, I just like being free financially.  8)

     
Do not act as though you could kill time without injuring eternity. - Dave Thoreau

Offline ColinMc

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Re: Dilemma time...
« Reply #13 on: October 10, 2008, 10:57:55 AM »
What I do is if I have the money to pay outright, I put a small down payment down and finance the rest getting a GOOD rate, then I invest the money I would have spent cash on the bike/car in something that is guaranteed to return a higher percentage than what i'm paying for financing. That way you are making a small percentage off the money you would have just spent in one go...if that makes sense.

Although with the way things are now, finding something decent to get that percentage back may be tough lol. Some student savings accounts have good returns...if you are technically still a student.
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KARamsay

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Re: Dilemma time...
« Reply #14 on: October 10, 2008, 11:24:45 AM »
Manageable payments... money in the bank, a GREAT IDEA!

Truthfully, coming out of college with a decent bike and some *good* credit history will not hurt you.  I was the same way, and actually suffered, because my credit was non existent.  Yep... nothing, no credit cards -all cash- and they were looking at me like I was the fool.

I'd talk with the dealer and see what you can work out... if it is in your affordable range, go for it, BUT keep the CB.  you will miss it if you sell it. 

Me personally... I love the Street/Speed triple too!  Demo'd one and loved it!  Wicked fun bike to play with.  Also... big fan of the ducati monster.       

Offline Caaveman82

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Re: Dilemma time...
« Reply #15 on: October 10, 2008, 12:37:17 PM »
     Well I actually have a great credit score. I have a uber low interest credit card and I use it to only buy gas and make the minimum payment, plus when I was young and not paranoid I had taken out two car loans which were both paid on time every time in full. So I have credit, I am just scared because I don't want to get into a situation where I owe more than I make. That's how my ex girlfriend was and she was a miserable person. No thank you...
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Offline Rsnip988

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Re: Dilemma time...
« Reply #16 on: October 15, 2008, 03:34:52 AM »
Sounds like a great plam, thats what my wife is making me do since i want a new bike.  Smarter than most people our age  ;)

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Offline Caaveman82

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Re: Dilemma time...
« Reply #17 on: October 15, 2008, 11:56:03 AM »
True that. I can wait till next summer, but I don't want to wait till the end of the summer to get the damn thing.
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Offline Caaveman82

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Re: Dilemma time...
« Reply #18 on: October 16, 2008, 03:31:01 PM »
Well I can't find a dam throttle cable, and I really don't care at this point. I started tearing the thing down today and am going to start hauling it home piece by piece. I have got some clear and black powder coming to coat my parts. Plus I have finally mastered anodizing stuff. I couldn't get it right! But now I got it, so that'll be way cool. I am going to fully redo the whole thing. So look for that coming soon in the project shop who ya.
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Offline tramp

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Re: Dilemma time...
« Reply #19 on: October 17, 2008, 05:05:16 AM »
keep the bike
you'll always regret selling it
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Offline BobbyR

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Re: Dilemma time...
« Reply #20 on: October 17, 2008, 01:51:47 PM »

     Any way, I am just afraid to finance things because everyone I know is in some sort of credit trouble and so far I have been able to avoid it by paying cash for everything. That's why I was thinking of selling the Honda to bridge the gap... :-\

 I think I'm just gonna bite the bullet and finance the two grand. I am sure a lot of you are like two grand? Really? I know a lot of people would finance that in a heart beat, I just like being free financially.  8)

     
I think you are making a wise choice financing the $2K. I spent a year in the Loan business and I saw a lot of wreckage. I also yanked a lot of people out of tight spots. You never wnat to leave yourself cash poor. Using credit wisely allows you to maintain your cash and if the terms are OK it will not cost you much if you pay it off aggressively. People in cash binds find themselves getting into crappy loans becuse they have no choice.
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Offline bunghole

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Re: Dilemma time...
« Reply #21 on: October 17, 2008, 02:31:41 PM »
Man, $10 bucks a day!

Maybe I should start smoking so that I can quit and save that kind of money :)
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Offline Caaveman82

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Re: Dilemma time...
« Reply #22 on: October 17, 2008, 02:51:22 PM »
Lol right? Good idea. Haha
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