Re: Black horse finance on SV650s - do i need...
 

i know what you mean, because it's exactly what i did, now the cash sits earning interest and i pay the installments from my wages, at the end of the term i'll have "saved" ~£5k, and also earned ~£300 in interest, ching ching;)

Re: Black horse finance on SV650s - do i need...
 

Well i think at worst id have to wait a couple of months... Like i said the only real outgoing is the bike finance/personal loan and £20 internet... whatever it is. So I can save £500 a month easy (there are little things like fuel food etc as well...).

There is also the damn major service i will have to pay for but thats the end of this month anyway. So if i did go for a SVthou id have no savings left or much money either for october. But like you say enjoy the money i have :rolleyes:.

If i did take out a small loan then it wouldnt be too bad another small outgoing, which if it was high interest i could get out of the way quick. :D

So what you think Yes or NO (no meaning wait a few months first :p)

Re: Black horse finance on SV650s - do i need...
 

IMHO this is the sort of decision that is best made by yourself, rather than by a group of loons on the internet!

I am in the 'debt is bad' camp.

Re: Black horse finance on SV650s - do i need...
 

+1

Re: Black horse finance on SV650s - do i need...
 

Me also but with me not being on massive wages £16G before tax and deductions! (about 12 after :smt010) i cant always take that stand... not on big things! For me to buy anything would take me AGES to save!

:mad:

Re: Black horse finance on SV650s - do i need...
 

Thats down to the individual to be disciplined with making payments, eyes open, and manage thier finances now isn't it!

Lenders don't drag you off the high street and force you to sign things at gunpoint! Make the finance you take suit your needs and wants and know what it's going to cost you to borrow the money.

Don't borrow more than you can afford to repay, lenders love charging 25 quid to send you a letter to tell you you missed a payment. If you've already got a few things on finance agreements, wait for one term to finish before taking out another one.

Avoid silly interest rates otherwise the majority of what you pay each month disappears and you take forever to clear the balance.

Avoid payment protection policies unless you can't sell the thing your buying if you lost your job or got ill.

That's the main areas where the lenders make thier money, otherwise, your laughing.

I'm not rich, so everything significant that I buy is on finance, and they don't make much money off me.

0% finance is great and you get it on everything from washing machines to sofas to motorbikes. Every couple of months one of my credit cards sends me a 0% balance transfer offer too so you can buy anything you like on one card and transfer it to the other. I wouldn't have a motorbike otherwise 'cos it'd take me three years to save up for one, with the finance I get it now and spend three years paying for it. Costs me nothing - whats the difference?

Even without 0% - 500 quid on a 3 yr personal loan is available on moneysupemarket at 17.9%, which sounds really high (borrow 10 grand and you'll get 5.9%), but the repayment is less than £18 quid a month and of that £45 a year, or £3.75 a month is interest. Have one less Friday night getting ****ed in the pub each year and you've paid the interest, if you smoke, cut back by one packet a month.

TheGreek - only you know your finances and whether you've got spare 18 quid a month mate! But it you planned to save an extra 500 quid in "Maybe a couple more months", I guess you've got well over 100 quid a month spare now. Make sure there's no penalty if you settle early and you can save the money as planned and pay off the loan in the new year, it'll have cost you the interest paid between now and then, plus a nominal fee for early settlement, to get the bike you want. Put in perspective against the cost of a night out, it's peanuts.

Debt isn't BAD! - it's a tool to be used to financially achieve what you want to achieve. Just like a power saw or any other tool, it's only dangerous if you don't use it properly.

Re: Black horse finance on SV650s - do i need...
 

Well done that man :)

Re: Black horse finance on SV650s - do i need...
 

AND BACK ON TOPIC
You get 70 mpg from your 650 and you're considering a 1000? You sir, are a *****. Why don't you just learn to wring it's bloody neck?
I think I'm doing well if I get better than 45mpg from my 650. I have heard 80 miles to a tank is 1000 territory (say 25mpg) and you think it will do 50-55?

Just learn to use the bike you've got!
:D

Re: Black horse finance on SV650s - do i need...
 

Very good info. I can easy afford that. One of my major points is to have about £400 in the bank at the next pay day, just incase anything comes up that i need etc. So i shouldnt have any problems.

I generally do agree debt is bad, Unmanagable debt is EXTREMELY BAD! If you CAN pay it off then there should not be a problem. I have got pretty good job security so i shouldnt have any problems in that respect! Even if i wanted to quit it'd take me about 18 months ha. :smt103

Re: Black horse finance on SV650s - do i need...
 

My bike is my only transport, it isnt only a thrash about for week ends.

Im really shocked when i get that... But i keep getting it. I do a lot of motorway and A road from home to work in 90 mile chunks so there isnt much need to RAG it, 6th gear cruising is good. I often have to do some overtaking on the A roads which requires me to give it some.

If i go out for a good fun run then i can get it down to 45-50 MPG but even that takes some doing!

Also perhapse my light weight and small frame help keep the resistance down and the MPG up? I wouldnt say i ride slow.