Do you have vehicle payments? - Chicagoland Sportbikes
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View Poll Results: Are you on the payment plan?
Yes, I have one car payment no bike payment. 51 38.93%
Yes, I have a car and bike payment. 37 28.24%
Yes, I have multiple car and bike payments. 12 9.16%
No, I pay for my stuff in cash - No auto/bike loans. 31 23.66%
Voters: 131. You may not vote on this poll

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post #1 of 52 (permalink) Old 08-31-2006, 01:06 PM Thread Starter
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Do you have vehicle payments?

All this talk about getting new cars and bikes... just wondering how many of you guys are at zero payments,

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post #2 of 52 (permalink) Old 08-31-2006, 01:06 PM
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post #3 of 52 (permalink) Old 08-31-2006, 01:07 PM
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Where is the poll?

Yes, I have a payment on my Xterra. I've got about 17 months left then my only debt will be my house.

Never a bad time to climb... unless the weather is really horrible, and then you climb inside!

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post #4 of 52 (permalink) Old 08-31-2006, 01:07 PM
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===========
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post #5 of 52 (permalink) Old 08-31-2006, 01:09 PM Thread Starter
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you guys are quick! lol

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post #6 of 52 (permalink) Old 08-31-2006, 01:11 PM
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One car payment, no bike payment.....Paying stuff in cash all the time, can screw you in the long run....because when it comes time to purchase a house or something you will have NO credit....unless you are rich enough to dish over 250 grand for a house in cash. It's always good to just have credit cards and stuff that you use, but then pay off at the end of the month so you do establish some credit.

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post #7 of 52 (permalink) Old 08-31-2006, 01:11 PM
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car and bike payment. I can (and probably should) just pay off the bike, but the extra savings is for if/when the job disappears.

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post #8 of 52 (permalink) Old 08-31-2006, 01:14 PM
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Car was just paid off after last month after a five year term. Bike I paid off in 6 months. I am planning on keeping the Accord until the wheels fall off.

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post #9 of 52 (permalink) Old 08-31-2006, 01:21 PM
 
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haven't had vehicle payments for about 8 years, just working on paying the house off in 15yrs
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post #10 of 52 (permalink) Old 08-31-2006, 01:23 PM
RIDER SEARCHING FOR A RID
 
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Just started 1 car payment as of Monday after 2 yrs of no payments. Both bikes free & clear as well a 2 more vehicles.

ZX9 - THE LEGEND LIVES ON!
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post #11 of 52 (permalink) Old 08-31-2006, 01:27 PM
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I keep my vehicles until the wheels fall off (payments avg. 5 years on/5 years off). Car payment @ 0.9% interest is 'nearly free' money. If I "have" to pick up another winter beater in the interim, it'll be with cash.

Bike was paid off a loooong time ago.

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post #12 of 52 (permalink) Old 08-31-2006, 01:30 PM
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car yes bike no
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post #13 of 52 (permalink) Old 08-31-2006, 01:33 PM
Done got slower
 
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Car no...bike (Triumph) yes (but only owe $3k and the interest is only 1.9%)

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post #14 of 52 (permalink) Old 08-31-2006, 02:28 PM
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Car payment only

Ride smart... stupid hurts.

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post #15 of 52 (permalink) Old 08-31-2006, 02:34 PM
I got kids...
 
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Student loans count? If I get a car/bike loan, I get divorced.
Cash is good. Don't need no stinkin' credit, I got k-a-y-s-h.

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post #16 of 52 (permalink) Old 08-31-2006, 02:34 PM
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Just sold my car...a new payment is coming shortly ...paying on the Z still, hopefully i'll have it paid off shortly.

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post #17 of 52 (permalink) Old 08-31-2006, 02:52 PM
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Small car payments...no bike payment.
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post #18 of 52 (permalink) Old 08-31-2006, 02:53 PM
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I have truck and bike to pay, truck I have less than two years but no worries b/c its 0%. If all goes well at work I want to pay off the bike before my wedding in April.

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post #19 of 52 (permalink) Old 08-31-2006, 03:03 PM
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Not to generalize here because I dont know everyone's financial situation, but those that pay cash over zero/low apr financing for cars and bikes....you have no mortgages right?...and you're maxing out your 401/profit sharing/retirment/savings contributions too right? (I wont even mention CC debt.)

I dont want to get into this appreciating vs depreciating asset thing again.
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post #20 of 52 (permalink) Old 08-31-2006, 03:14 PM
 
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I picked up a car payment last November after not having any payments for about two year. My mortgage, taxes, utilities and discretionary spending are enough to make me queezy sometimes......
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post #21 of 52 (permalink) Old 08-31-2006, 03:23 PM
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Quote:
Originally Posted by Kruz
Not to generalize here because I dont know everyone's financial situation, but those that pay cash over zero/low apr financing for cars and bikes....you have no mortgages right?...and you're maxing out your 401/profit sharing/retirment/savings contributions too right? (I wont even mention CC debt.)

I dont want to get into this appreciating vs depreciating asset thing again.

I have a mortgage, I max out what I can put in my IRA each month and I also am starting a 401k at work and I put money into savings each paycheck; and I have no CC debt.

Never a bad time to climb... unless the weather is really horrible, and then you climb inside!

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post #22 of 52 (permalink) Old 08-31-2006, 03:32 PM
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Quote:
Originally Posted by Kruz
Not to generalize here because I dont know everyone's financial situation, but those that pay cash over zero/low apr financing for cars and bikes....you have no mortgages right?...and you're maxing out your 401/profit sharing/retirment/savings contributions too right? (I wont even mention CC debt.)

I dont want to get into this appreciating vs depreciating asset thing again.
Good questions:
I have a mortgage. I overpay it almost every month.
I have no credit cards, therefore no cc debt.
401k max
I should max IRA and kids donations (I need to start doing that)
I buy bikes in winter, sell for summer... so no depreciation on sales so far.
I take 0% loans when available (only when I can't trade the loan against a lower cash outlay) In which case I pay loan of in entirety before the 0% expires (bikes and jetskis that is usually two years).

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #23 of 52 (permalink) Old 08-31-2006, 03:37 PM
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Quote:
Originally Posted by Wink
Good questions:
I have a mortgage. I overpay it almost every month.
I have no credit cards, therefore no cc debt.
401k max
I should max IRA and kids donations (I need to start doing that)
I buy bikes in winter, sell for summer... so no depreciation on sales so far.
I take 0% loans when available (only when I can't trade the loan against a lower cash outlay) In which case I pay loan of in entirety before the 0% expires (bikes and jetskis that is usually two years).

yeah, but you're also like 65 years old and have had plenty of time to save.

Never a bad time to climb... unless the weather is really horrible, and then you climb inside!

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post #24 of 52 (permalink) Old 08-31-2006, 03:41 PM
Ooooooooohhh!!!!
 
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there was not a choice for no car payment but a bike payment so I could not vote.
I got rid of my car payments over a year ago. All I have now is my bike to pay for.

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post #25 of 52 (permalink) Old 08-31-2006, 03:53 PM
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Quote:
Originally Posted by Chills
yeah, but you're also like 65 years old and have had plenty of time to save.
65 and slow. So it goes...

(isn't your avatar that old?)

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #26 of 52 (permalink) Old 08-31-2006, 03:55 PM
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Quote:
Originally Posted by Chills
yeah, but you're also like 65 years old and have had plenty of time to save.

Hey! Wink's only 55.
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post #27 of 52 (permalink) Old 08-31-2006, 03:56 PM
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Quote:
Originally Posted by Kruz
Hey! Wink's only 55.
Thanks John. I appreciate you looking out for me.

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #28 of 52 (permalink) Old 08-31-2006, 03:58 PM
AKA..... Dan
 
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I never pay cash for anything. I get a lower rate on borrowing money than I make on my investments. Thus it doesn't cost me anything to take a loan out, and I have savings. Why use my money, when I can use other peoples?

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post #29 of 52 (permalink) Old 08-31-2006, 04:01 PM
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No car payments, no bike payments...just the mortgage payment. I'll fiance if I get 0% for whatever time period, then I pay it off. Did that with the ST3.

Sometimes goodbye is your second chance.
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post #30 of 52 (permalink) Old 08-31-2006, 04:02 PM
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Quote:
Originally Posted by Kruz
Hey! Wink's only 55.

Oops, my mistake. I didn't know he was the same age as you, Jon.





Never a bad time to climb... unless the weather is really horrible, and then you climb inside!

I bleed GREEN
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