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Old Feb 27th 2018, 08:04 PM   #51
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Originally Posted by double0 View Post
Sherpa and Nitrouz,

It's far from a person jab, at least from my point of view. I can't speak for other members. Hell, I wish I made the kinda money you two as well as some other fortunate members on here to be able to cash out a bike or car and not think twice about it. For me, if I paid cash for a bike (which I technically could) it would be a HUGE hit to my bank account. YUGGGGEEEEE! I don't have the patience to save up forever just to comfortably be able to dish out $20k+ on a toy in cash or anything else for that matter. I'm extremely responsible with my credit and such so for me, financing things makes the most sense and is the easiest and most justifiable way to make my purchases, be it financing bikes or leasing vehicles. I only lease cars. I get bored easily.
There's absolutely nothing wrong with using credit responsibly. Ideally, it's something that everyone should do. You use credit the right way and, as I said before, that's really good. And it's especially good today because lots of people don't know how to do that.

My point was just that there is another side of the coin and when you've seen some ugly cases like I have, it makes a serious impression and causes someone like me to stay away from credit for things like bikes and cars. As I said, if I can't find a way to do it without financing then I go without until I can.

By the way, this is one of those things where there's no right answer. It's all personal preference and opinion and I, for one, like hearing other people's thoughts on it.
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Old Feb 27th 2018, 08:13 PM   #52
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Originally Posted by Sherpa23 View Post
Hey, feel free to jump on the bandwagon. Lots of people love to criticize me because I pay cash for things like this. Clearly, I am a loser.

I had a friend explain to me that I needed to learn to use financing like him in order to have some neat stuff. I said I'll wait until I can pay cash because, like an idiot, I grew up thinking that if I needed to finance something in order to buy it, that means that I can't afford it.

I watched him build a nice car collection and lots of cool stuff. It was neat. But then one day one small thing went wrong and he missed a payment here and a payment there and next thing you know he had to sell a lot of that stuff. But the problem was that it wasn't worth what he paid for it. And since he never put much money down on anything, he was technically underwater on everything he had. I took some of my cash and bought a couple of his Ferraris that he hardly used because he was afraid of putting miles on them (because he was worried about resale value) and tried to buy even more of his things to help him out but I couldn't because he cross-collateralized much of this stuff and the bank wouldn't release the liens, etc. etc.

It turns out that for all of the cool things that he had, he didn't own any of it - like ANY of it. It was almost like his life consisted of putting on a show of what the bank owned.

Maybe one day I'll tell the story of the time I bought two Ducati 916SPS's (one with 7 miles on it) from a guy (well I paid his bank) who defaulted on the loan for the bikes 19 years ago and hid them in a storage unit for that entire time to avoid repossession.

Anyways, I digress. I guess at the end of the day I don't care that I'm stupid and make poor life choices by paying cash for all of the depreciating assets in my life (well, the appreciating ones, too, I guess). At the end of the day, we all make our own choices and what's right for one person is different for the next guy but people can feel free to #buywhattheywant. I'll just stick to owning what I have. It's not exciting but it works for me.

By the way, I hope that everyone "buys what they want." I've never understood the point of buying what you don't want or buying what someone else wants (except at Christmas, of course).
First of all I haven’t mentioned anything about buying a used bike and it sounds like you and some of your friends have made irresponsible choices. You should never be under water on everything you own. Finance what you need to, buy what you can out right and live within your means.

How do you buy a bike from someone who apparently fraud the bank… You bought it without a title?

And since you want to throw numbers around I’m doing a cash out refinance on one of my properties right now, I’m going to pull $69,000. You think I’m going to buy a bike cash with that or pay off my Alpina? Half of that is going to be down payment on another property and the other half I have some options for new Endeavors.

I have personal friends and business partners were millionaires and they still finance most things, for the same reasons I explained I do.

Reason why I’m explaining all this is because you and a few other guys have a certain tone about you.... As if you’re talking down to people who choose to or have to finance. I appreciate your explanation and your paranoia but humble yourself .
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Last edited by DUCENZO; Feb 27th 2018 at 08:15 PM.
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Old Feb 27th 2018, 08:13 PM   #53
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Originally Posted by double0 View Post
Sherpa and Nitrouz,

It's far from a person jab, at least from my point of view. I can't speak for other members. Hell, I wish I made the kinda money you two as well as some other fortunate members on here to be able to cash out a bike or car and not think twice about it. For me, if I paid cash for a bike (which I technically could) it would be a HUGE hit to my bank account. YUGGGGEEEEE! I don't have the patience to save up forever just to comfortably be able to dish out $20k+ on a toy in cash or anything else for that matter. I'm extremely responsible with my credit and such so for me, financing things makes the most sense and is the easiest and most justifiable way to make my purchases, be it financing bikes or leasing vehicles. I only lease cars. I get bored easily.
I completely agree with you. As I said, every person is different, every situation is different, and every financing contract is different with regards to rates and terms. If it makes sense for you, fantastic! It just doesn't for me, and there's nothing wrong with either choice. Do what you love and what you want, as long as it makes sense for you. I fully respect that. I'm not trying to preach at all but just sharing what my personal thought process and experience is. That's all. Nothing more nothing less. We are all here to gain some different perspective from different people, and there's no right or wrong. We only live once, but life (ideally) lasts longer than the life of a bike.

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Old Feb 27th 2018, 08:25 PM   #54
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Originally Posted by DUCENZO View Post
First of all I havenít mentioned anything about buying a used bike and it sounds like you and some of your friends have made irresponsible choices. You should never be under water on everything you own. Finance what you need to, buy what you can out right and live within your means.

How do you buy a bike from someone who apparently fraud the bankÖ You bought it without a title?

And since you want to throw numbers around Iím doing a cash out refinance on one of my properties right now, Iím going to pull $69,000. You think Iím going to buy a bike cash with that or pay off my Alpina? Half of that is going to be down payment on another property and the other half I have some options for new Endeavors.

I have personal friends and business partners were millionaires and they still finance most things, for the same reasons I explained I do.

Reason why Iím explaining all this is because you and a few other guys have a certain tone about you.... As if youíre talking down to people who choose to or have to finance. I appreciate your explanation and your paranoia but humble yourself .
Jeez. Why are you so defensive? You keep talking about tones people use like you're used to being belittled. Haven't you had a single conversation with someone who has a different opinion than what you have without feeling belittled? I understand you're having some comprehension difficulties here but no one is using any offensive tones with you.

Now, about those comprehension difficulties:

First, I don't think I've thrown out a single number and don't plan on it. Please enjoy your $69,000 from your loan in good health however you choose to. Good for you.

Second, I didn't buy the bikes from the guy. I bought them from the bank. Remember, the bank owns the assets in a loan and not the person. Technically, I bought the collateralized assets out from the loan. I gave the bank funds and they handed me two titles and at the same time, I had a friend pick up the bikes from where they were being kept.

Lastly, please let me know what "irresponsible" choices that I've made. I do understand that not everyone is great at reading but I'd like for you to point that out to me. And just so that you understand a small detail about money, it's impossible to be underwater on something if you pay cash for it. You owe $0 and real property can't really be worth less than $0. So also please tell me what I'm under water on.
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Old Feb 28th 2018, 04:16 AM   #55
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Geez, I thought this was V4S vs Speciale thread!!!!
For a moment I thought King Richard infiltrated the thread

Start new thread Cash vs Financing or New vs Used....

Popcorn popping
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Old Feb 28th 2018, 04:40 AM   #56
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people actually believe they own their "castles" and the bikes in their garage, when in fact in most cases the bank owns it all and they're paying on a 30yr mortgage which after 30yrs literally nets the bank a free home in interest payments equivalent.


and what's really both amusing and troubling is that these home "owners" are stuck with the property taxes for homes the bank in reality owns! but it's like they never see it in those terms.

it's a giant con game wrapped up in a ponzi stock "market" with all kinds of tax schemes perpetrated on you the debt-slave, while you proudly exclaim, "i pay my taxes". LOL

ever hear of Stockholm Syndrome?

edit: think about why home prices are so high, esp in terms of stagnating wages. (see above quote in my previous post -- all part of the turning up of debt-slave screws, since 1913.)

Last edited by VAST; Feb 28th 2018 at 04:49 AM.
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Old Feb 28th 2018, 04:48 AM   #57
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Originally Posted by VAST View Post
people actually believe they own their homes and the bikes in their garage, when in fact in most cases the bank owns it all and they're paying on a 30yr mortgage which after 30yrs literally nets the bank a free home in interest payments equivalent.


and what's really both amusing and troubling is that these home "owners" are stuck with the property taxes for homes the bank in reality owns! but it's like they never see it in those terms.

it's a giant con game wrapped up in a ponzi stock "market" with all kinds of tax schemes perpetrated on you the debt-slave, while you proudly exclaim, "i pay my taxes". LOL

ever hear of Stockholm Syndrome?
Yes, I have Stockholm Syndrome..Put I have been taking my medication so now it's not as bad...I can now walk and talk upright!!

Last edited by jpanigale; Feb 28th 2018 at 04:50 AM.
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Old Feb 28th 2018, 04:50 AM   #58
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Originally Posted by jpanigale View Post
Yes, I have Stockholm Syndrome..Put I have been taking my medication so now it's not as bad now...I can now walk and talk upright!!
but can you roll your eyes as you repeat very fast over and over, "death and taxes"? if not, maybe switch your meds out for a better diet?
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Old Feb 28th 2018, 04:56 AM   #59
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I can't do it, tried...I'll switch to Wheaties or Grapenuts...
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Old Mar 8th 2018, 11:11 AM   #60
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My special should arrive in May instead of March
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