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How many of you are behind on your bike payment?

16K views 143 replies 87 participants last post by  Chart 
#1 ·
Just curious how many of you are given the current economic conditions. Anyone had their bike repoed or hiding it because you know it's targeted to be repoed?
 
#104 ·
Cash is the way to go. Then they can take everything else and you can ride away instead of walking away. And for the guy who thinks starting to ride at 50 means you don't have the reflexes an/or experience well nuts to you. One thing we do have is the wisdom of father time. We have seen alot and done alot and know the true value of things. Raised my family and got my kids off to college before I started. Began in 2007 when I turned 47and I'm glad I waited until I got all the piss and vinegar out of my system. :beer:
 
#110 ·
i had a credit card once,, lol,, sears. i was prolly 19 or 20,, after i paid 2 yrs of 19 bucks a month for a 99 dollar ted williams shotgun and still had a 46 dollar balance! lol,, (exaggerating a bit) .. i'm sure some of you know what i mean,, i don't do credit cards.
 
#112 ·
I never carry cash, have not in 10 years, my paycheck is electronically deposited and a pain in the ass to go draw money at a atm or the bank. my bike is paid in full :)
 
#138 ·
You might get a more valid selection of replies with a blind poll. Most people aren't going to admit that they are defaulters.

The industry admits to 20+% collections actions on motorcycles. But they don't say how many are actually repossessed. The Repo auction in Harrisburg has hundreds, twice a year.
 
#139 ·
Never been behind on any vehicle. They have all been financed however the Road King I bought in June I paid cash for so no payments to deal with on it.
 
#140 ·
I have never been out of work, since I started working (1963) when I was 15 years old, 4 years military, 30.5 years with Halliburton, and 15 years with a school district in Texas, I am 67 now. I never bought anything that I couldn't make the payments on, but I can certainly understand how it can happen. I was not able to pay cash for cars or motorcycle when I was young, and if I had ever gotten laid off, I would have been in financial trouble quick. Now, if I choose, I can pay cash for things I need.
 
#141 ·
I finance less then I used to, but I also have more money now. I have never paid cash, but I pay things off fast. I don't like having my money tied up that long, usually want something else.

Interest rates are so low right now too. when I do get something I pay extra and usually end up throwing a bunch of money at it and getting it paid off early. I think I had around $1k on my first Harley in interest, the times I had were worth it.

To me it is important not to have to much debt out there, and not be upside down on it.

Though you could take the cash you saved up those 3-5 years and buy cash, then start saving again for the next toy. Sorta like I have never had a credit card balance once I paid it off years ago. I have the free cash I was paying on it.
 
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