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New bike or wait?

CrazyBeanF4I

CrazyBeanF4I

New member
Joined
Jul 15, 2008
Location
Ceres, Ca.
Moto(s)
2003 CBR F4I,
2013 R1,
2013 CRF230F, 2004 CRF250X, 2008 CRF50F, 2008 XR100
Name
Bobby
So…my question. My fiance and I are in the process of buying a new home, should I wait before heading to the dealer for a new bike?

If I were to go finance a bike now I know it'd change my debt to income ratio, so it'd make getting the home a bit harder. It should be total opposite though once we get the house right? Should be easy as hell to get financed on a bike?

Looking at homes right now is oddly kinda hard, it’s a buyers market…but to much of a buyers market almost. Going on 2 months of looking, theres so much competition out there.

Anyways, post up with your thoughts on this….i want a new bikeeeeeeeeeee! :ride
 
I'm thinking I'm envious of your current financial position:(
 
Just be happy that this is a question you can even consider. Sheesh.
 
I'm buying a house and just bought a new bike. I agree with V4, if you know your job is stable, then don't worry about so long as you can afford it. Interest rates and deals with the dealers are phenomenal right now but won't last too much longer as the weather warms up.
 
house then bike...
i'd be pissed if i a bike screwed up my finances so i couldn't get a house, but i'd be less upset if i lost a bike and was able to buy a home...
 
i'm thinking house then bike too, but i'm just worried that i'm gona miss out on the better deals for the bike.

would the bike just totally jack up my credit?


didnt mean to upset anyone with the question btw...i know times are hard for alot of people around the world. i'm very grateful for having the job i have.

my dad got layed off a month ago from his, its hard seeing someone who i've watched hold a stable job and provide for us growing up have to look around even...
 
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CrazyBeanF4I said:
i'm thinking house then bike too, but i'm just worried that i'm gona miss out on the better deals for the bike.

would the bike just totally jack up my credit?
Click to expand...

Depends on what your credit currently looks like I'd imagine.
 
Depending on what your DTI (Debt To Income Ratio) is right now, I would probably wait until you have the house before buying the bike. You don't want the bike to be the reason you're unable to buy a house at this time. If you have plenty of allowance on your DTI, then go ahead and buy the bike if you don't want to wait.

Need help financing the house? Hit me up :cool
 
To the OP,

For the record, I did wait until my loan was approved for the money before I bought a new bike. Maybe you should wait for that first. :2cents
 
Kornholio said:
To the OP,

For the record, I did wait until my loan was approved for the money before I bought a new bike. Maybe you should wait for that first. :2cents
Click to expand...

when you say loan approved....once you found a house, made an offer...was accepted and then your loan was completed? or after you were 'pre-approved' before even finding your home...?

sorry for the nub questions...alot of this stuff is confusing at times. my credit is 650...not the best, but not the worst. our bills are minimal right now, just rent + utilities, all credit cards (2) have been paid off for a while...no outstanding loans or anything at all.
 
CrazyBeanF4I said:
when you say loan approved....once you found a house, made an offer...was accepted and then your loan was completed? or after you were 'pre-approved' before even finding your home...?

sorry for the nub questions...alot of this stuff is confusing at times. my credit is 650...not the best, but not the worst. our bills are minimal right now, just rent + utilities, all credit cards (2) have been paid off for a while...no outstanding loans or anything at all.
Click to expand...

As in my loan money was secured. Not just "pre-approved".
 
gotcha. i guess it would be ok to go ahead on the bike then as ours is 'secured' as well...

i'm still a bit hesitant though...i'm thinking though better safe then sorry. cant exactly have a family live on a bike lol
 
CrazyBeanF4I said:
when you say loan approved....once you found a house, made an offer...was accepted and then your loan was completed? or after you were 'pre-approved' before even finding your home...?

sorry for the nub questions...alot of this stuff is confusing at times. my credit is 650...not the best, but not the worst. our bills are minimal right now, just rent + utilities, all credit cards (2) have been paid off for a while...no outstanding loans or anything at all.
Click to expand...

You don't get your house loan until after finding the house you want usually your offer is contingent on loan approval. It'll suck if you buy a bike now and later not be able to get the loan on a house you really want. A bike is always going to be there (next year's model is going to be even better); a house is unique and you may never find another one at a good price.
 
sv2007 said:
You don't get your house loan until after finding the house you want usually your offer is contingent on loan approval. It'll suck if you buy a bike now and later not be able to get the loan on a house you really want. A bike is always going to be there (next year's model is going to be even better); a house is unique and you may never find another one at a good price.
Click to expand...

This is very true! Every situation is unique. Just because it seems like you gotta have it right now doesn't mean you really do. The bike, that is. :D
 
but i really do need it right now :ride

no, i do understand though. appreciate the input on this guys...

...looks like the wifey wins this battle :party
 
What the hell is wrong with the bike you got? You need to improve first on your riding technique to get the full use out of a new bike young grasshopper!
 
why dont you learn how to put the rear tire/rim on your NEW bike first! beech :twofinger
 
The HOUSE is more important in the long run -

It takes NO patience to get into debt (loan on a bike for example), but a LOT of patience to get out of it
 
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