What should I do

DavidWhite

Final Approach
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I'm buying another motorcycle and my bank has sent the dealer drafting instructions (they are sending a check in the mail)

The dealer wants me to write a personal check as collateral just in case my bank doesn't actually exist or something. I'm about to tell them to go **** themselves and walk out the door. Is that standard procedure (the check thing?)
 
I wouldn't do it. I've never had that proposed to me before.

If they want the sale, tell them to take that up with the bank.
 
The checks wouldn't go through anyways. That's what I was thinking though.
 
If you don't need the bike while the check makes the transit, let the dealer hold it.

But no, don't hand them the personal check.
 
Why are you buying a $20,000 bike?
 
Well, it's not 20k. Same principle though - I don't have the money in my account.
 
Why are you buying a $20,000 bike?

my question too.... That would covered 2-3 years of Mooney upkeep when interest payment on 20k is figured in.
 
I'm buying another motorcycle and my bank has sent the dealer drafting instructions (they are sending a check in the mail)

The dealer wants me to write a personal check as collateral just in case my bank doesn't actually exist or something. I'm about to tell them to go **** themselves and walk out the door. Is that standard procedure (the check thing?)

Be careful, it may be illegal to write a check when you know you don't have the funds to cover it, and banks can cash a check that is "post-dated" before the date.
 
David, a couple cautions if I may. I do have a passing familiarity with motorcycles.

First, unless you are purchasing a new bike, do not purchase one from a dealer. There is simply no need. Motorcycles are often impulse purchases, many markets have numerous only slightly used models available.

Second, the dealership may try and cover up flaws or wear. Jesse or I could give you a fairly comprehensive list of things to look over on a used bike to ensure you aren't purchasing a lemon.

Third, most bikes of Japanese or European origin are fairly bulletproof, and not that easily broken by abuse. Forgive me for leaving Hardleys off that list, perhaps they belong on it and my experience is simply old. I would not rule it out.

Fourth, never, ever under any circumstances go into debt for a toy, which is what a bike is. If you can't afford the shiny one you want get a used one you can afford. Plenty of used bikes out there with lots of ooomph left. I've never in my life bought a new bike and I don't know that I ever will. Let some other sucker take the depreciation.

Fifth, whatever bike you get (who's identity had better be soon forthcoming since you put up this thread) wear your damn gear. Last week I read a thread on Advrider about a youngster who took his vintage Japanese bike to the southwest. Just today I saw that last year that same biker was totaled by a drunk driver. The biker has brain damage that's likely permanent (his girlfriend was quite proud today that he is now potty trained). He wasn't wearing gear, and his worst injury was of course to his head. Wear your gear.

Sorry to be so paternalistic, I imagine you don't need two of those.
 
There are lots of lightly used motorcycles out there.

I wouldn't buy a new one.
 
My mother crashed her bike into a guardrail....the day she bought it....with full gear.

Didn't help though, she died.

BE CAREFUL!!
 
Busted my elbow 4 days after I bought mine. I probably would have had a broken ankle and head injuries too had I not had my gear on.
 
This isn't my first bike - and I always wear full gear.
 
David, a couple cautions if I may. I do have a passing familiarity with motorcycles.

First, unless you are purchasing a new bike, do not purchase one from a dealer. There is simply no need. Motorcycles are often impulse purchases, many markets have numerous only slightly used models available.

Second, the dealership may try and cover up flaws or wear. Jesse or I could give you a fairly comprehensive list of things to look over on a used bike to ensure you aren't purchasing a lemon.

Third, most bikes of Japanese or European origin are fairly bulletproof, and not that easily broken by abuse. Forgive me for leaving Hardleys off that list, perhaps they belong on it and my experience is simply old. I would not rule it out.

Fourth, never, ever under any circumstances go into debt for a toy, which is what a bike is. If you can't afford the shiny one you want get a used one you can afford. Plenty of used bikes out there with lots of ooomph left. I've never in my life bought a new bike and I don't know that I ever will. Let some other sucker take the depreciation.

Fifth, whatever bike you get (who's identity had better be soon forthcoming since you put up this thread) wear your damn gear. Last week I read a thread on Advrider about a youngster who took his vintage Japanese bike to the southwest. Just today I saw that last year that same biker was totaled by a drunk driver. The biker has brain damage that's likely permanent (his girlfriend was quite proud today that he is now potty trained). He wasn't wearing gear, and his worst injury was of course to his head. Wear your gear.

Sorry to be so paternalistic, I imagine you don't need two of those.

If I am able to bring it home today I'll post up another thread with pics
 
I knew you had other bikes, but am gratified to hear you wear your gear. So what's the skinny on the apple of your eye?

Well now that I've got a girlfriend I've decided that I wanted something sporty but was comfortable and had enough power to ride with 2. (Ninja 650 would barely ninja with 2)
 
So now I'm also buying a Concours 14.
 
Well now that I've got a girlfriend I've decided that I wanted something sporty but was comfortable and had enough power to ride with 2. (Ninja 650 would barely ninja with 2)

For the little lady comfort trumps just about anything. Actually, I used to run Mrs. Steingar around on my Nighthawk 650, it had plenty of power for the both of us. Surprised the young lady doesn't like the style of the Ninja though. For all the discomfort those things look stylish, fast, young and racy.

Mrs. Steingar hates my 954.
 
Well the Concours looks like a sportbike and it has the same engine as te ZX14 - Kawasaki calls it a "Supersport Touring"
 
It's a good opportunity to build credit

I'll call BS on this concept.

If you have rent, utilities, cell phone and cable bills that are all paid on time, you're doing just fine and don't need to fall into the trap your laying for yourself.

Your best strategy now is to keep that we'll paying job, avoid debt, learn about how compound interest can make you a millionaire 5-7 times with less than $500 per month being saved now.

We enjoy you being one of the aviation weird. It's time for you to stop being amongst the financially normal.
 
I'll call BS on this concept.

If you have rent, utilities, cell phone and cable bills that are all paid on time, you're doing just fine and don't need to fall into the trap your laying for yourself.

Your best strategy now is to keep that we'll paying job, avoid debt, learn about how compound interest can make you a millionaire 5-7 times with less than $500 per month being saved now.

We enjoy you being one of the aviation weird. It's time for you to stop being amongst the financially normal.

What compound interest? No one is paying anything guaranteed. In the 80s and 90s you could get interest rates over 5%, now no one is paying anything (except limited time promotional) with the prime being ~3%
 
I'm buying another motorcycle and my bank has sent the dealer drafting instructions (they are sending a check in the mail)

The dealer wants me to write a personal check as collateral just in case my bank doesn't actually exist or something. I'm about to tell them to go **** themselves and walk out the door. Is that standard procedure (the check thing?)


David, above all, make sure you get some proper training on riding before you hit the streets.
 
I'll call BS on this concept.

If you have rent, utilities, cell phone and cable bills that are all paid on time, you're doing just fine and don't need to fall into the trap your laying for yourself.

Your best strategy now is to keep that we'll paying job, avoid debt, learn about how compound interest can make you a millionaire 5-7 times with less than $500 per month being saved now.

We enjoy you being one of the aviation weird. It's time for you to stop being amongst the financially normal.

Yea and with the way our country is going down the toilet, maybe it is best to enjoy it now because that $5mil isn't going to do much for you anyway 30-40 years from now.
 
I'll call BS on this concept.

If you have rent, utilities, cell phone and cable bills that are all paid on time, you're doing just fine and don't need to fall into the trap your laying for yourself.

Your best strategy now is to keep that we'll paying job, avoid debt, learn about how compound interest can make you a millionaire 5-7 times with less than $500 per month being saved now.

We enjoy you being one of the aviation weird. It's time for you to stop being amongst the financially normal.

I only got a home loan because I took out a loan on a used car few years before.

Buying the car helped my credit, paying it off early hurt my score but gave me the available income/debt to get the home loan
 
This isn't my first bike - and I always wear full gear.
This + gloves, boots, helmet, spine protector, and chest protector is what I consider full gear. It's just as important your girlfriend have full gear as well. The expensive stuff is totally worth it. It's amazing how much more comfortable and protective it is.


In summary, don't be a squid!!
8a5anygy.jpg



-VanDy
 
This + gloves, boots, helmet, spine protector, and chest protector is what I consider full gear. It's just as important your girlfriend have full gear as well. The expensive stuff is totally worth it. It's amazing how much more comfortable and protective it is.


In summary, don't be a squid!!
8a5anygy.jpg



-VanDy

Your idea of full gear and mine must be different - I just put on the Kevlar jockstrap and call it good. Gotta protect the important stuff.
 
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