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Aight brothas, need some advice on a purchase.

Discussion in 'The Lounge' started by newyorkin, Nov 21, 2006.

  1. newyorkin

    newyorkin 1 ton status

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    I'm really eyeing this 1998 Kawasaki Concours. It's a sport-touring bike.

    I can afford it, but will need a loan from either a bank or savings account, either one will require repayment with interest.
    I am nuerotic about debt and it will probably eat me up for a while that I owe money on it.

    -It has 30k miles. The current owner is a former BMW/Triumph tech, and has meticulously maintained it.
    -It had a full recent service, with the exception of the coolant, which may or may not need a flush. I plan to ride it through winter (primary reason for wanting a sport-touring bike), so I will do the flush anyway.
    -It will need two new tires soon, and I already have a line on a $160 rear tire for $60 from a former Concours owner I know. Front tire's no big deal either I think.
    -It has some pretty small road rash on the right side, but nothing bad. Granted, I did check it out at night in a bright parking lot.
    -It has handlebar risers, extended windshield, and a trunk in addition to stock equipment. All big ++'s to me, those are things I'd add to any bike I get.


    There's also a dealer bike for $1000 more with 10k miles. The dealer has a sketchy reputation, but the bike is supposedly mint. They were unclear about a warranty on it, said it has something to do with their financing department, then evasive about it when I said I pay cash only and am not interested in their finance dept.
    The dealer bike has the sissybar, which the 98 didn't, but the 98 has a trunk, which is close to a sissybar for my wife's comfort. Otherwise, the dealer bike has the same accessories.

    I really want to get the 98 because even though it has 20k more miles, which is a lot for a Long Island bike, it's a faster debt payoff, and I like the color better.
    I'm psyched to get beyond my "starter" bike, which isn't a slouch itself anyway, just tired, but I'm super-wary and askeered of debt. In a way I feel like I'm jumping into this, even though I've had my bank ready with a loan for 4 months, and I've been looking at bikes for a year...
     
  2. newyorkin

    newyorkin 1 ton status

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    Also, i think I have achieved drunk. I should have backed off earlier, but I just kept slamming them back cause I'm all energized from this possible bike deal.
    So any advice is appreciated. I may survive upright for a few more minutes to see if I get any replies...
     
  3. mikey_d05

    mikey_d05 1 ton status GMOTM Winner

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    Take a loan from your savings account, repay yourself with interest. That's what my dad does for his business now. Win/win in the end if you have enough capital initially.
     
  4. nc87k5

    nc87k5 3/4 ton status

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    you got my reply....
     
  5. newyorkin

    newyorkin 1 ton status

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    Yeah, I was thinking that, I'd rather pay myself back than a corp. But I have to pay heavy interest on savings because I'm losing future interest on that money by pulling it out, so it may actually cost me a little more once I calc it down. Actually, it probably won't, it's not earning a huge interest now, not more than I'd have to pay the bank on a personal loan.
     
  6. newyorkin

    newyorkin 1 ton status

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    :thumb: :thumb: Yup, you got mine.
     
  7. Corey 78K5

    Corey 78K5 1 ton status

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    Sissy.........
    Get a rigid with a primer gas tank jockey shift tranny meat grinder chain and a strait piped S&S engine and a brakeless bicycle wheel up front hooked to a set of ape hangers:D :D
     
  8. Can Can

    Can Can Pusher Man Staff Member Super Moderator

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    Go with your gut, Ratch. Go with your gut.........:deal:
     
  9. nc87k5

    nc87k5 3/4 ton status

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    and he is so right.....just don't wait too long like I/we did and miss out on a good thing :doah: .
     
  10. cbbr

    cbbr 1 ton status GMOTM Winner

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    Winter+north = crappy car with heater.:D
     
  11. Fubeca

    Fubeca 1/2 ton status

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    My personal opinion is - you can't afford it if you have to take a loan or borrow from a retirement account. If I were you, I'd keep saving up and buy it in a couple of years for cash.

    If you are borowing from a short-term savings account that's different as long as you can keep your rainy day fund.
     
  12. newyorkin

    newyorkin 1 ton status

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    Yeah, retirement is untouchable, no borrowing from that. This is more of a toy fund that's still mixed with the kids money. I'm sort of borrowing a little from the kids. The rest is cash I've been putting off to the side for a few months, but I still have to repay it, it will move my emergency fund to the Credit card.
     
  13. Fubeca

    Fubeca 1/2 ton status

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    I see - that's a little different. We just did that for our car - I'm a little antsy right now until we get it paid back. Savings is a terrible thing - once you have some - you can never go back!

    I always have a hard time with the emotions of the decision. I can always evaluate the facts, but making the final decision always makes me nervous.
     
  14. newyorkin

    newyorkin 1 ton status

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    Yeah, that's exactly what I'm going through... :eek1: :crazy:
     
  15. newyorkin

    newyorkin 1 ton status

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    Welp, he's on his way here to trade me bike for cash. I was hoping to get it registered today, but looks like I'll have to wait til friday instead.

    Pics to come soon!
     
  16. newyorkin

    newyorkin 1 ton status

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    Naturally, it was a gorgeous day in the upper 50's, and I spent most of it on 4 wheels on a run to the DMV and lunch with my poor sick boy. Now my wife had to run an urgent 2 hour errand, and I'm stuck home with two kids as darkness falls. I really wanted to spend a couple daylight hours feeling it out, now it looks like it'll be a nighttime run to work on the highway. :rolleyes: :surepal: :tongue1:

    Well here she is, I bought it wednesday night.
    These are the first non-raining daylight pictures. :woot: :saweet: :woot: :saweet:

    IMG_5354.JPG

    IMG_5360.JPG

    IMG_5359-plate.jpg
     
  17. boggerless

    boggerless 1 ton status Premium Member

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    ape hangers be the ****.don't forget the P pad!and i think PAUL is right RATCH. go with your gut.:D
     
  18. boggerless

    boggerless 1 ton status Premium Member

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    sweet,bro.but where are the apes???:haha:
     
  19. newyorkin

    newyorkin 1 ton status

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    :haha: :haha: No ape hangers for me... Maybe if I get another cruiser one day, but not for the commuter/touring ride...
     
  20. boggerless

    boggerless 1 ton status Premium Member

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    put them on the first bike.you can really have fun with that bike now.strip it paint it black,apes, fatter rear tire.think of the fun??oh, and cut the pipes down just past the pegs.:bow: :waytogo:
     

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