taking over payment and getting a 2004 R1

[manveru]

new bikes are nice, but unless your racing competitively(on the track) theres no reason to need more power, the newer bikes don't get very good fuel mileage either

[YAM93]

Not to be a heel, but i have to ask how old you are and how long you've been riding your current bike.

Seems like perhaps you're rushing into all this just to impress some "friends". You'll notice most "smart" guys here don't finance their bikes or go ass-end over in debt to get them. Those who do usually end up dissatisfied, in hock, or trying to "flip" for a new bike every couple years... not the best position to be in mentally or financially.

I'll disagree with Fartblood as i've seen the yellow R6 flames bike up close, and it's REALLY sharp looking. But you have to remember that the excitement will go away as soon as you dump it with no insurance and still owe another 4 years of payments but the bike is FUBAR and you can't ride it.

"Err on the side of caution" I always say, and you'll live to see another day with minimal regrets. Unfortunately all of us have to learn our lessons in different ways. It's not like we're saying you're flat-out wrong, just, if you do it, for the sake of common sense please get some insurance. Unfortunately if you're young insurance is pretty expensive these days. Even at my age, full coverage was more than i wanted to afford. So i have minimal coverage, BUT my bikes are PAID FOR.

[thatkid]

Apparently you haven't learned anything from the current financial market. All those people losing their homes because they bought them on credit with huge interest rates that jumped in all of a sudden. I'll be the first one to say you are an idiot if you get either of the bikes on credit. You are young and obviously don't understand a thing about credit, but going into debt when you are under 21 for a toy is just plain stupid. Go into debt for a house or an education. Those two things will get you money later on. A new bike will not.

Florida has a helmet law under 21. My guess is lenders aren't dumb enough to lend you money for a bike and not make you put insurance on it. If you dump it and can't afford payments anymore, they have no way to recoup their costs. So the guy with the R6 must have some form of collateral that he put up to get the bike. I've known a lot of people from different states and have a few friends as insurance agents. They all have insurance on their toys if they are financed. It's pretty much the rule if you want the financing from the company.

And, in IL, insurance on a new R6 for a rider who is 19 yrs old is 2K a year. I doubt you have that and the ability to make a monthly payment and take care of all your other bills.

We all have things we want. Truth is you don't NEED a new bike. You don't need a 1000cc bike. You really don't need a newer 600cc bike. My guess is that you haven't even come close to pushing the FZR to its limit. You want a new bike for more power and because it's new and you'll look cooler. Fact of the matter is this is the piss poor thinking that put americans in the positions they are in. Learn to use what you have to its full potential and live within your means.

You made a point before about wanting a new bike because you couldn't keep up with your friends. Ever hear that expression, "Ride your own ride." ??? Grass always looks greener man. Once that monthly payment hits it's no longer greener.

[95FZR600]

Thatkid, your right about that brother! Back when I was young I bought things I didnt need even a MC to boot to find out later when I didnt pay for everything my credit turned to shit and after a thousand years it took to fix that shitty credit, I will never do that again. I to learned a lesson and learned.

He is going to do what he wants and all we can do is try and teach him by what we have learned in the past with hopes it will help him.

[shredex]

Apparently you haven't learned anything from the current financial market. All those people losing their homes because they bought them on credit with huge interest rates that jumped in all of a sudden. I'll be the first one to say you are an idiot if you get either of the bikes on credit. You are young and obviously don't understand a thing about credit, but going into debt when you are under 21 for a toy is just plain stupid. Go into debt for a house or an education. Those two things will get you money later on. A new bike will not.

Florida has a helmet law under 21. My guess is lenders aren't dumb enough to lend you money for a bike and not make you put insurance on it. If you dump it and can't afford payments anymore, they have no way to recoup their costs. So the guy with the R6 must have some form of collateral that he put up to get the bike. I've known a lot of people from different states and have a few friends as insurance agents. They all have insurance on their toys if they are financed. It's pretty much the rule if you want the financing from the company.

And, in IL, insurance on a new R6 for a rider who is 19 yrs old is 2K a year. I doubt you have that and the ability to make a monthly payment and take care of all your other bills.

We all have things we want. Truth is you don't NEED a new bike. You don't need a 1000cc bike. You really don't need a newer 600cc bike. My guess is that you haven't even come close to pushing the FZR to its limit. You want a new bike for more power and because it's new and you'll look cooler. Fact of the matter is this is the piss poor thinking that put americans in the positions they are in. Learn to use what you have to its full potential and live within your means.

You made a point before about wanting a new bike because you couldn't keep up with your friends. Ever hear that expression, "Ride your own ride." ??? Grass always looks greener man. Once that monthly payment hits it's no longer greener.

I can deffinitly afford $150 a month, if I had a car then I would be paying $250/m for insurance....so its not all that bad
the interest is all that worries me, and since bike shops are in need for business, I can get them to bring down the price on it too. possibly to $5k, and I would pay 2k down

[mszilves]

Thatkid, your right about that brother! Back when I was young I bought things I didnt need even a MC to boot to find out later when I didnt pay for everything my credit turned to shit and after a thousand years it took to fix that shitty credit, I will never do that again. I to learned a lesson and learned.

Sounds just like me... I had to learn the hard way too. Trust me, once your credit goes bad, it takes a LONG time to fix it. Wish I had listened when I was younger, but true, everyone has to make their own choices, all we can do is try and help. As the saying goes, smart people learn from other people's mistakes. Financing toys or things you don't really need is definitely not a good way to go.

[cad600]

No one is faulting you for wanting a new or newer bike. We are faulting you for your thinking. And honestly, at your age we all thought like that. But you need to keep a few things in mind. The finances don't work that way. If you get a bike for that price on monthly payments, you won't be able to get a new one for many years because of the depreciation of the bike as a trade. Also, most of these have low intro payment periods. This is where you put the bike on your "Yamaha Visa" card and get a low intrest rate and payments for the first two years. After that the intrest is compounded if it's not payed or there is a balloon payment due after "x" time. Thatkid has the other part right. You want a new bike for the wrong reasons. To be faster and look cool. Do you not remeber the post you made about your brother's friend? viewtopic.php?f=8&t=1839&p=18896#p18896 Go back and look at that picture again. I've seen some bad wrecks before, and he was doing at least 100mph to do that kind of damage to that car by broad siding it. Slow down!!!! And the reason cops don't chase motorcycles is that they figure they'll catch up to you a mile down the road as your pulling asphault or a tree limb out of your spine. And a ticket for "wreckless driving" usually ends you up in jail with a very hefty fine attacked to it.

Look, we are not your parents. The reason why we are here is to share knowledge and experiance with you and everyone else. But don't expect us to stand by and not give you all the warnings.

[megaloxana]

I went to the stealership today and looked at the '08 R6's...almost puked. No way I would buy that.

[shredex]

it just doesnt seem bad, the payments do go up, in 3 years it will go up to $250 a month.

ill have a nice talk with my brother before I make my final dicision. he finance on his 02 cbr600 f4i. ill see what all he had to go threw and see what he thinks about it.
but I thank you guys for looking out for me
"guys"

[95FZR600]

it just doesnt seem bad, the payments do go up, in 3 years it will go up to $250 a month.

ill have a nice talk with my brother before I make my final dicision. he finance on his 02 cbr600 f4i. ill see what all he had to go threw and see what he thinks about it.
but I thank you guys for looking out for me
"guys"

That's all we are trying to do.

Oh, just to rub it in a little my buddy is out of town and wants me to go by the house tomorrow and get his 07 Gixxer 1k to get the cob webs off and Im keeping for 2 weeks!! Ill post some pics tomorrow.

[YAM93]

just something i thought of which is slightly off-topic, but... if you do decide to get a new bike or even say that 2004 you were looking at (?) ... be sure to be extra cautious about security, of some sort, brake lock with alarm, alarm, locked garage, etc.

Because your bike's (no offense!!) "not-so-pretty" right now, (same as many of us, really)... and right now nobody really wants to steal it, unless they just robbed a bank, then you got bigger problems...

...but when / if you get a new bike, every worthless loser having a "really boring day" will be very much interested in stealing your bike to impress their friends, or sell for a nice plastic-wrapped kilo of cocaine or briefcase full of cash.

[ShogunTX]

A. Don't take on someone else's debt
B. Don't take on someone else's debt while the title is still in their name
C. Don't take on someone else's debt while the title is still in their name and not purchase insurance

If you ain't got the dough to blow, then don't blow dough!

[thatkid]

it just doesnt seem bad, the payments do go up, in 3 years it will go up to $250 a month.

ill have a nice talk with my brother before I make my final dicision. he finance on his 02 cbr600 f4i. ill see what all he had to go threw and see what he thinks about it.
but I thank you guys for looking out for me
"guys"

It doesn't seem bad. Seem being the operative word. Here's my example. When I was 17 I was converting a 2wd truck to a 4wd truck with a solid front axle instead of the IFS. I had laid out the costs to my father and it was cheaper than buying a 4wd. So he said go and buy the parts and he'll pay me when the bill comes. So I went and I bought a bunch of the parts. As with all projects costs were higher than expected. Here's the kicker though. Dad lost his job and could no longer give me the money for the parts I had already purchased on my card. I was heading to college so the card just got more added to it. It took years to get it paid off and I paid an unbelievable amount of interest.

My point of that is that you don't know what could happen. Sure you can make the payments but what you are skipping over is do you need to? You are still financing it which means you don't have the money to begin with. Motorcycles are like any other vehicle, they take money to run. So that's more money you have to put into it. What we as American's take so lightly (credit) other countries fear. Well probably not fear but it's damn near impossible to get a loan in other countries. People rent or they use savings to buy a car or house. America is capitalist so they want you to spend money that you don't have. Keeps the rich getting richer and you without power because you owe on everything.

Save your money. Buy a bike with savings. Don't over extend. I'm not great with money but lately I've been pretty good with it and it's much nicer not to worry about where the X payment is going to come from. Accidents will happen. Unforeseen events will come. Do you want to get to halfway having the bike paid off and then the repo man comes because you lost your job and couldn't make payments anymore? Young people aren't worrying about the economy. Thinking it isn't going to affect them. A lot of jobs in the US are linked to others and if one fails the rest are sure to.

Keep the 600 and put 200-250 away every month into savings. When you can buy the bike outright sell the 600 and buy the bike you want with cash. You will be a much happier person. Plus doing it that way will show you if you could handle that payment but the money will still be there in case something is lurking around the corner.

As everyone else has stated you will do what you will do. Our society wants you to believe that "things" will make you happy so you should buy more of them. Truth be told, if your current things aren't making you happy, new ones won't either. Something else is missing and you're trying to fill that void with new things. That isn't meant to be preachy or philosophical. It's meant to get you to think.

[shredex]

im very happy with my bike. I would just like to be able to do more with it.
I used used to skateboard alot and BMX so of course im going to want to do something with my bike.
I looking to do some stunting. its just me. I dont care about impressing anyone. The only one I care about is me. If someone doesnt like my bike, then I dont mind. and a newer bike with a WORKING speedometer, and a WORKING odometer and battery doesnt need to be charged every night would be great.
I never know how fast im going, and I dont know when maintaince is due because my odo. doesnt work, and I have no clue how many miles are on the bike.
im keeping my bike and fixing it up really nice, and while im doing that, I will be saving and looking around at bikes. Then I could sell my bike for about 2k to do a down payment on a bike. Ill take one that is 6k. so ill owe 4k. it will take one year and 9 months to fully pay it off.
My brothers 02 cbr600 f4i was 6700, and he got some maitnaince thing with it that brought it out to about 8000. he was paying about 150 for the first year, then it was 260 from there on. he was also paying insurance for his eclipse at the time.
He doesnt think it a HORRIBLE idea, he just wants me to get a car.

[95FZR600]

Good luck on what you decide. And be careful.