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A number of years ago I bought my first bike that I was making a payment on. It was used, but more than I could come up with cash. I had that bike for several years, but before it was paid off I traded it in on a new Honda. I had that for several years also. I sold it, then went and bought my current 1996 GL1500SE, but I had to finance it too.

However I recently was able to pay off what I owed and now own it outright. Funny thing has happened though. Now that it is payed off, I am thinking different about the bike. When I owed on it, I kept thinking that maybe I should get something else, its small imperfections bugged me and I dreamed of owning something else. Now that it is payed off, I am thinking differently about it. I am thinking long term, just ordered a new DS tire for the rear, I ordered parts to rebuild some Progressive shocks I bought for the rear. I am dreaming about taking rides on it instead of dreaming about a new bike to replace it. I also have a GL1200 and it is paid for, but it is a project and a post for another day.
I hate debt and have very little other than my house payment and I like to keep it that way. Even my cars are all paid for. (2017 Ford included). I guess I hate debt so much that I connect the debt to the object and I can't enjoy it. Payed for = Freedom. So I guess it effects my love for my bike. Crazy I guess



Do you think different about your bike depending on if it is payed off or not, or am I just crazy?
 

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I don't think differently about the bike but I do sometimes feel guilty about making payments, the insurance, tag etc and not riding it as much as I could. I figure if I force myself to ride it I'm not going to enjoy it
 

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paid cash for every bike I have bought.
had loans on two vehicles, a '65 Plymouth and a '74 Suburban which I needed for family reasons, but with a salary of $600/month, cash was not an option then.


I hated those payments, and swore "never again" and I stuck to it.


Well, I did until 2004, I drove up to Las Vegas, NV to visit old friends.
Just as I entered the city of Lost Wages, the car I was driving developed a horrendous transmission problem. It started slipping badly, but when it cooled down, it would act normal....


My friend drove me around town to go look at a '98 Dodge 1 ton diesel I had noticed while driving thru town to his home. when we arrived, I played hard to get, the truck had a lot of issues, I would not buy it w/o a 1 year warranty.... the salesman said "like hell" and I left.


30 minutes before they closed that night, I got a call from the Manager of the Dodge dealership in Lost Wages..... "what would it take to get you to buy that truck?" told him my terms, he said give me 5 minutes........... he came back to the phone and said "Okay, it is yours, come and get it".


After we got there, I signed papers for my Credit Union to cover the invoice... then I was asked if I wanted a trade in.....
I never once mentioned that car.... I said "well, what would you allow me for that car out front?"


the manager went out and looked at it, started the motor, stuck it in reverse, and forward, shut it off and came back in....


Forget now how much I got, maybe $1600? whatever, I was glad it was gone.
 

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Discussion Starter #4
paid cash for every bike I have bought.
had loans on two vehicles, a '65 Plymouth and a '74 Suburban which I needed for family reasons, but with a salary of $600/month, cash was not an option then.


I hated those payments, and swore "never again" and I stuck to it.


Well, I did until 2004, I drove up to Las Vegas, NV to visit old friends.
Just as I entered the city of Lost Wages, the car I was driving developed a horrendous transmission problem. It started slipping badly, but when it cooled down, it would act normal....


My friend drove me around town to go look at a '98 Dodge 1 ton diesel I had noticed while driving thru town to his home. when we arrived, I played hard to get, the truck had a lot of issues, I would not buy it w/o a 1 year warranty.... the salesman said "like hell" and I left.


30 minutes before they closed that night, I got a call from the Manager of the Dodge dealership in Lost Wages..... "what would it take to get you to buy that truck?" told him my terms, he said give me 5 minutes........... he came back to the phone and said "Okay, it is yours, come and get it".


After we got there, I signed papers for my Credit Union to cover the invoice... then I was asked if I wanted a trade in.....
I never once mentioned that car.... I said "well, what would you allow me for that car out front?"


the manager went out and looked at it, started the motor, stuck it in reverse, and forward, shut it off and came back in....


Forget now how much I got, maybe $1600? whatever, I was glad it was gone.

I hope I am never in that situation, but I know it can happen.
I guess having to make a payment on a vehicle makes it feel more like a burden than an enjoyment.

I still drool over the shiny new bikes out there and think how nice it would be to have one, then I think about how much the payment would be and it starts to look like a mill stone around my neck and not a fun bike.
 

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2 days ago, we got a "check engine light" on the car, a 2007 Pontiac Vibe.
had the code read out, it says 'evap' problem, YouTube says it is a bad fuel cap so going to spend $5 to $15 to get a new one and "fix" the problem hopefully.


take the car to a dealer, and it is $85 minimum here for diagnostics.
 

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either way, if you pay cash or finance the bike/car you have a lot of money tied up in it. I financed only 1 bike out of the about 20 I have owned, I treat all of them with great pride of ownership.
 

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I bought a used Harley from a friend of mine that owned the oldest Harley shop in Fresno. It was in 1981 and it was a used bike with 5,000 miles on it. It was like brand new, I paid $5,600 for it and bought it with nothing down, $156.00 a month for 3 years. Had a little payment book that had sheets to mail in each month with the check. Harold shock my hand looked me in the eye and said, Jerry I don't care if this bike is wrecked, stolen burned up in a fire or any other mishap, you owe me that money and I will do what ever I need to do to collect. I paid every payment for 3 years and got the pink and a Thank you in the mail. Harold started that Dealership in 1948 I think and must of sold a lot of Harley's to people on time payments and a hand shake. We used to look good on that Bike, ride 50 miles go to the bar have a beer, get back on for another 50 mile's all day long. Oh to be young again and foolish.
 

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i take care of anything i buy either with cash or payments i plan on keeping them for a long time so PM is a plus for me
 

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When I was young all the motorcycles I wanted cost more money than I had. That meant payments. Now I'm old and all the motorcycles I want are old and I have enough money to buy them cash. I guess it is just your perspective.
 

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2 days ago, we got a "check engine light" on the car, a 2007 Pontiac Vibe.
had the code read out, it says 'evap' problem, YouTube says it is a bad fuel cap so going to spend $5 to $15 to get a new one and "fix" the problem hopefully.


take the car to a dealer, and it is $85 minimum here for diagnostics.

Financed or paid cash for your 2007 Pontiac Vibe :laugh:
 

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Different strokes for different folks. I'm glad this didn't go down the path of comments areound "if you have to make payments you can't afford it and you should save up for it until you have the cash". I own quite a few bikes and my latest is financed. I can afford it just fine though it's not a $25K new one. My preference is to have my money liquid in the bank and pay my credit union .75% interest on a toy now and then to enjoy. That's just me, may not be the best choice for everyone.


Good thread
 

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I have thought about this for a while now, still don't know. I bought an 08 1800 brand new and made payments on it until I totaled it (almost paid for). I of course kept it properly serviced and cleaned it soon after getting home from a ride& waxed often. After it was gone I got the 2010, almost new and paid for in full. I also keep it maintained but don't keep it as clean, sometimes it's a week from ride to ride and I might clean the windshield. I do give a good cleaning eventually but just not right now.
 

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Never financed a bike (or a car, either, for that matter) except for a '71 Impala I bought in '78 for $750. I had enuf $ but I was young (20) and wanted to establish some credit.
 

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I paid cash for the Mighty ST1300 back in '15 but I took out a loan to get the 1200GSA. I hadn't taken a loan in over five years so hopefully it helps my credit score, i'll pay off the loan much earlier that I took it out for
 

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A bike is not a "toy", it's a necessity. I did however, pay cash for my 'Wing.
If thats the only way of transportation you are correct.
I also paid $18000.00 cash for my 2008 in 2013, I think. However I financed the 2012 Toyota Highlander which I bought in 2014 due to low 1% interest
I guess to each his own.
I never buy brand new toys . I buy them second hand and keep them till the junk yard or very little life left in them.
 

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I paid cash for the Mighty ST1300 back in '15 but I took out a loan to get the 1200GSA. I hadn't taken a loan in over five years so hopefully it helps my credit score, i'll pay off the loan much earlier that I took it out for
I always referred to my 2003 ST1300ABS as the Mighty ST ! The perfect description for that bike. if not for the top-heavy aspect of it, I may never have bought my Wing.

I just sold it to a member of the STOwners forum.... do you belong to it? It is one of the best forums on the planet.
 

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I really enjoy not having a payment on my bike, however I am not against payments in any way, pretty much all the toys are on payments. In todays world it would take me 1/2 a lifetime to save up the $60k needed for my pontoon boat, $30k for the travel trailer, $15k for the sled, etc etc. not to mention a couple new vehicles to haul all that stuff. Now if my truck was paid for I would probably be riding a new Goldwing, however I don't think I would treat it any different than I do my paid for 82, keep the maintenance up, keep it shined up, and continue to look for ways to spend money upgrading or adding on to it lol...
 
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