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New bike or wait?

crazybob said:
But you can't race your house!
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:orly

motorcycle-motorhome.jpg
 
If your credit is 650 then don't finance a bike. I'm pretty sure that a bike loan is considered revolving credit and having more revolving credit will lower your rating. Buy with cash FTW.:thumbup
 
rydmohr said:
If your credit is 650 then don't finance a bike. I'm pretty sure that a bike loan is considered revolving credit and having more revolving credit will lower your rating. Buy with cash FTW.:thumbup
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The only "loans" that are revolving credit are those Kawasaki, Honda, Yamaha Card loans. That's basically a credit card for lack of a better terminology.
 
i thought u couldnt get the tax cred of 8k unless you had baught your home last year? i've already filed and received my taxes, i'd need to have them amended to have this credit put in?
 
CrazyBeanF4I said:
i thought u couldnt get the tax cred of 8k unless you had baught your home last year? i've already filed and received my taxes, i'd need to have them amended to have this credit put in?
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According to my accountant (and turbotax.com :laughing ) you can do that. I'm not filing my taxes until our escrow closes. Sure it's last second, but it's worth it for me. Free money is free money and I want it now. :D


.....or I'll just file an extension. :D
 
Hey,

To answer your question about financing. I am in the prime group and the loans on brand new bikes are what they are for the brand new cars + 2.5% according to my credit union. The lowest loan rate I could get today was 8.49%. And yeah, the prime group's credit score is what you have + 120.

Now, what's more important the bike or the house... The bike. WTF?!

Please note, I do not belong to the all-American "need to start a family and protect children at all costs" crowd. Buying a house in these times is an interesting decision and it will be much better off if you just wait (houses don't go anywhere) and increase your credit score by getting and paying off the bike. At the end a house is just a freaking house that you'll end up selling to pay your living expenses when you retire. Or it will go to your children. What I am trying to say is that you can't view a house or any real estate property (or any property for that matter) as the ULTIMATE thing to have. Given the quality of houses that I see around the Bay Area you'll be overpaying even with today's "low" prices.

Finally, remember that you're here to enjoy life and if paying mortgage is something that you absolutely desire, then shoot for the house. I'd take a bike if I were in your situation.
 
vman said:
Hey,

To answer your question about financing. I am in the prime group and the loans on brand new bikes are what they are for the brand new cars + 2.5% according to my credit union. The lowest loan rate I could get today was 8.49%. And yeah, the prime group's credit score is what you have + 120.

Now, what's more important the bike or the house... The bike. WTF?!

Please note, I do not belong to the all-American "need to start a family and protect children at all costs" crowd. Buying a house in these times is an interesting decision and it will be much better off if you just wait (houses don't go anywhere) and increase your credit score by getting and paying off the bike. At the end a house is just a freaking house that you'll end up selling to pay your living expenses when you retire. Or it will go to your children. What I am trying to say is that you can't view a house or any real estate property (or any property for that matter) as the ULTIMATE thing to have. Given the quality of houses that I see around the Bay Area you'll be overpaying even with today's "low" prices.

Finally, remember that you're here to enjoy life and if paying mortgage is something that you absolutely desire, then shoot for the house. I'd take a bike if I were in your situation.
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Just financed on Saturday. 3.9% :|
 
Raider said:
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...
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+1

My mortgage broker told me not to do ANYTHING credit related, before I bought my house.
 
Kornholio said:
Just financed on Saturday. 3.9% :|
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Hey, what did you use to finance? I just saw the stats from San Mateo Credit Union and they could not do anything better than 8.49%. I was quite surprised since my credit cards are at 8.9%...
 
vman said:
Hey, what did you use to finance? I just saw the stats from San Mateo Credit Union and they could not do anything better than 8.49%. I was quite surprised since my credit cards are at 8.9%...
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You'd have to ask Cal Moto. It's a bank they use. I can't recall the name.
 
Also consider that sales tax goes up an additional 1% (or more depending on your district) on April 1st, and the vehicle license fee goes up May 19th.
 
maxandgrinch said:
Also consider that sales tax goes up an additional 1% (or more depending on your district) on April 1st, and the vehicle license fee goes up May 19th.
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The vehicle license fee is like one of the lowest portions of the total registration costs. :dunno
 
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