What would you do?

[Gsxxx600]

I just got approved for a credit card through Honda.

the credit limit is only 4000$, but with an extra 2000$ (selling of my bike), I can swing a sweet used honda for 6g's.

However, the apr is 14%...my credit really isnt established yet.

Would you even think about another bike, or would you stick with what you have?

Your opinions will heavily influence my decision!

So think hard!

[SweetLou]

I wouldn't. But if you did, you could always refinance after a year for a lower APR.

[Anonymous]

I honestly would buy a bike on credit, just cash (hence my cheap bike ), but in your case I wouldn't buy a bike right up to the limit like that. And that APR is killer.

[irenekat]

due to your age...i'd say no. sorry dude but you dont need the headache later down the road. and that apr is HIGH. stick with what you have...just my .02

[ZukiFred]

IMO If the bike you have now is still ridable than I say no it isn't worth the high payment...

[katman05]

I would'nt, It's better to wait and leave yourself some breathing room just incase some kind of financial emergency should arise, and ya know something will come up, it always does.

[BISQ]

Why max out credit on anything? That's usually the first line of a story on bankruptcy, unfortunately.

[Bob]

If you can afford it, then go balls out!!!

[Gsxxx600]

thanks everyone, with the exception to Bob...just kidding. lol

I feel the same way you guys do, its not worth the headache, my bike is paid for...the only responsibilty i have to it is an $11 monthly insurance payment.

But you have to admit, its very tempting when youve got the approval to go out and get one!

[Anonymous]

Well, let me tell you what I'm gonna do. Mine is paid off as well, and I love it! I love the Katana in the turns and in long distance, and I don't think I can give that up...so I think I'm just gonna save up and get a cheap ss and keep both. I think that would be even cheaper (and safer) than getting a new bike on credit (I mean, think of still making payments even though your bike is crashed? That would sucko)

[Badkitty]

i was only approved for $5..besides a 500ninja (NO WAY) there is nothing else to get. So i got a long time friend to co-sign and they gave me what i wanted at 9%apr so im happy.

Crazy thing is my credit score is 745 and i was approved at a local ford dealer for $45k i just had to choose what i wanted, then i decided to get a bike and that proved to be harder.

I was told they go off credit score only as they dont see Bikes as " A Mode of Transportation. More like a TOY"." My 4 other friends cant even get a bike until they save up. SUCKS!!! I can buy a house and a truck , but barely can get a $7K bike.

[Gsxxx600]

kickitjp,
i def agree, my bike is worth keeping, I have no need to get rid of her, Id actually feel bad if I got rid of it. That might so strange but I took such great care of it, it would be like im leaving it in the dust for a newer bike...

Isnt it funny how credit works badkitty? I applied online for the card, and it came back and said, we're sorry but your request has been denied...then five days later, i get this card in the mail saying congratulations, ur approved!

go figure

[lopeha]

There's this amazing tool that works wonders for one of those arrives in the mail cards. It's called Scissors! Cut that sucker up before they snake you into the interest dungeon. Also, a small amount of gasoline in a controlled environment works well.

[katman05]

You might want to try freezing the credit card in some ice and keep it in the freezer that way you'll have to think for a few seconds about using it while it defrosts in the microwave or hot water, the urge might pass and you can throw it back in the freezer again

[The CyberPoet]

I'm a firm believer in buying bikes in cash... There's reasons here in Florida that may not meet the eye for many of you (if the bike is paid for, no insurance requirement), but also because of the idea of giving someone else $$ to use their money on something that can depreciate so very quickly is just a great way to get yourself into trouble.

Stick with it. If you want a new ride, scrape together pennies, buy something else very cheap and fix it up, then sell it and repeat. Walk your way up the motorcycle ownership ladder -- by the time you make it to the top of the pyramid, you'll have had a lot of bikes and have a good idea of what "fits" your actual riding style and desires better.

Cheers
=-= The CyberPoet