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View Poll Results: Did/Do you finance or pay cash for your K-Bike
I pay CASH 524 68.86%
I Financed the beast 237 31.14%
Voters: 761. You may not vote until 'registered'. Please go here: http://www.i-bmw.com/register.php

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  #1  
Old 02-15-2006, 01:29 PM
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Finance or Cash

Do you finance or pay cash?

What Year is your Bike?

What are your payments?

When will they be over?

Will you finance again?

Did you know you cannot take a USA purchased bike to europe until it is paid for while you may take it to Canada and Mexico?
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  #2  
Old 02-15-2006, 01:35 PM
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Re: Finance or Cash

By an overwhelming Mandate, 2 to 0. BMW riders pay cash!
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  #3  
Old 02-15-2006, 01:42 PM
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Post Re: Finance or Cash

I financed a new '02 K12RS at 4.9% (replaced 4 months later with an new '03). Still have about 20 payments of $350 a month to go. It's on it's way to Germany the minute it's paid for.

I also financed a used '99 GS in '02 at 10% and owe $2,500 on it with $220/mo pmts.

I don't think I would buy another brand new BMW again. So I don't think I would finance another one. I think there are enough of those cash buyers out there who keep them for a year and then sell them for about 30% off with almost no miles on them, that it's a better way to just buy a used one. Plus I put so many damm miles on them that anything under 10,000 miles is still brand new to me. Also, and maybe because of all thie miles I put on them, they depreciate alot, so it's just not worth buying new for me anymore.

Also, I really hate the fact that I can't take this bike to Europe until it's paid for. Still hard for me to wrap my head around the fact that a german made motorcycle, financed by an American subsidiary of a German Corporation, cannot be taken into Germany until it's paid for.
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  #4  
Old 02-15-2006, 01:42 PM
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Re: Finance or Cash

I forgot to vote
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  #5  
Old 02-15-2006, 03:17 PM
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Re: Finance or Cash

Quote:
Originally Posted by Osii
Do you finance or pay cash?

What Year is your Bike?

What are your payments?

When will they be over?

Will you finance again?

Did you know you cannot take a USA purchased bike to europe until it is paid for while you may take it to Canada and Mexico?

03RS
$294 on each bike
1.9% 5 payments paid by BMW 20% off accessories
We each received $750 in BMW gear and $750 off of trip.
Approx. 2 years left to pay off.
I'll finance again.
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  #6  
Old 02-15-2006, 04:21 PM
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Re: Finance or Cash

03GT,3.9%,$278 per mth.3yrs left.
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  #7  
Old 02-15-2006, 06:45 PM
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Re: Finance or Cash

Its a done deal ........
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  #8  
Old 02-15-2006, 11:59 PM
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Re: Finance or Cash

Quote:
Originally Posted by Lee
03RS
$294 on each bike
1.9% 5 payments paid by BMW 20% off accessories
We each received $750 in BMW gear and $750 off of trip.
Approx. 2 years left to pay off.
I'll finance again.

That was a sweet deal that came out right after I bought my bike. I'd finance everytime with that deal. I know some guys who financed that deal and then just paid it off.
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  #9  
Old 02-16-2006, 08:39 AM
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Re: Finance or Cash

Quote:
Originally Posted by Osii
That was a sweet deal that came out right after I bought my bike. I'd finance everytime with that deal. I know some guys who financed that deal and then just paid it off.

Yes the 5 free payments was nice whether you planned to pay it off or not. I did not know about the $1,500 in free stuff until it arrived in the mail. Almost did not take them up on the trip until I called Edelweiss and found we could ride our own bikes on a 4 day trip in Montana for $150 and BMW paid the other $750.
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  #10  
Old 02-16-2006, 09:23 AM
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Exclamation Re: Finance or Cash

Osii Yes you can bring your bike to Canada . When you go to register it they will charge you a wopping 15% tax on whatever they determin the value of your bike to be wether your bike is paid for or not.
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  #11  
Old 02-16-2006, 11:42 AM
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Re: Finance or Cash

Why use my money? Interest rate of 0.9% is hard to beat, but I probably will not buy another one.
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  #12  
Old 02-16-2006, 01:08 PM
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Re: Finance or Cash

I purchased my 01FL (Face Lift) version in Canada new. The FL came with all the 02 goodies except cruise. The 02 version was not available in the USA when I purchased.

No Canadian tax....60 Canadian cents to the dollar conversion at that time ( you do the math )
and I had it legally registered in the US within the week only paying my local sale tax.
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  #13  
Old 02-16-2006, 07:10 PM
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Re: Finance or Cash

Quote:
Originally Posted by Flyboy
I purchased my 01FL (Face Lift) version in Canada new.
There's a Face Lift goin' on in your avatar.
As far as the poll goes, I financed then paid it off.
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  #14  
Old 02-18-2006, 09:55 PM
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Re: Finance or Cash

I too took the 5 payments finance option, converted it at my local credit union into a 4.3 % loan after that as the BMW rate was higher at the time. Doubled up on payments and in another 6 months it mine, Almost down to the resale value now!
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  #15  
Old 02-19-2006, 06:22 PM
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Re: Finance or Cash

Financed my '04 K1200RS, paid a few payments while selling my 2000 RT then paid loan off - I'd still be making the payments if the deal was as sweet as on my New Holland loader/backhoe at 0% for 3 years
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  #16  
Old 02-21-2006, 07:34 PM
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Re: Finance or Cash

Far as I can remember, I either paid cash or financed my bike.

Nah, paid cash for mine, got it when it had just 6,000 miles on it in 2004
Previous owner put 1,000 miles a year on it. I've since put 32,000 on it.
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  #17  
Old 02-22-2006, 12:11 AM
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Re: Finance or Cash

'04 K1200RS bought new in March '05
financed 100%
0.9% interest
5 payments by BMW
$289/mo for 5 yrs

I paid cash for substantial accessories.
Panniers
Tank bag
Tail bag
new tires
comfort windshield
Sargent seat
Barbacks
LED brake light
Helmet lock

Ron
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  #18  
Old 02-22-2006, 11:48 PM
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Re: Finance or Cash

Quote:
Originally Posted by woody16550
Osii Yes you can bring your bike to Canada . When you go to register it they will charge you a wopping 15% tax on whatever they determin the value of your bike to be wether your bike is paid for or not.

I don't know why you would pay 15% just to register the bike.

Now, if a Canadian purchased a US bike, or car, or whatever and brought it across the border. When he (or she) registered it they would pay 7% PST (in BC) and 7% GST or 14%. But if they already owned it and moved here, I'm surprised they would have to pay anything to register it.

When a Canadian sells a bike to another person locally, the new owner must pay PST (7% in BC) but no GST when registering the bike.
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  #19  
Old 02-24-2006, 09:35 AM
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Re: Finance or Cash

Bought mine as a sweet 'dealer demo' deal with only 5 miles on it. Paid cash from my secret stash. This way it only took the wife 3-months to figure out that I bought it and another 6-months or so to figure out what I actually paid for it, including the hit I took on my '01 GS trade.

I have to agree with the consensus here that I'd probably not buy another new one. The deals on mint, depreciated used ones are just too good to resist. Although I'd still go the all cash route.
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  #20  
Old 02-27-2006, 08:07 AM
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Thumbs up Re: Finance or Cash

Bought my 03 in Feb. 03 for 1.9% and 5 free payments. Paid off in about 26 months which means I paid approx. $300 in finance charges over that period. Minimized total cost of motorcycle.
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  #21  
Old 03-01-2006, 08:44 AM
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Re: Finance or Cash

paid cash with a very generous trade in allowance for my 99 K12RS that had 67k miles on her
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  #22  
Old 03-01-2006, 07:26 PM
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Re: Finance or Cash

I rode a number of R1150R's in the Alps in the summer of 03 but my friend rode a K12RS and he was consistantly faster in the mountains - and everywhere else for that matter - this resulted in.....

my paying cash for a 1998 red K12RS in the late summer of 03

I then paid cash for my 04 Ducati Monster S4R in 05

I then paid cash for my 03 K12RS in 05

I plan on selling the 98 K12RS in the spring - I am running out of room.

The combination of the K12RS and the S4R plus regular trips to the Alps seems to satisfy all of my ego requirements while making my wife sufficiently nervous - a good balance if you can find it.
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  #23  
Old 03-01-2006, 09:37 PM
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Re: Finance or Cash

thats how I felt about my 99 K12RS and my 01 996 till I rode a K1200S for a long test ride, no regrets and the 996 is now track duty only
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  #24  
Old 03-02-2006, 10:17 PM
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Re: Finance or Cash

You are right about the K12S - it will eat the lunch of the RS in the mountains - I rented one on my last 3 day trip in the Alps and I could finely overtake my friend on his K12RS at will.
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  #25  
Old 03-07-2006, 05:27 PM
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Re: Finance or Cash

i dont like the idea of financing a bike, it seems well to risky, its not worth it at all because not only is there interst on the purchase price but you have to get full comp insurance on it to and lets face it if you write off a bike chances are your not gonna be claiming
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  #26  
Old 03-12-2006, 03:58 PM
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Re: Finance or Cash

Payed 11,500 cash out the door (tax and tags) on a used 02' in Dec 04' from Mortons's BMW. She had 14k on her. Still had a year on the warranty too. Really the only way to go IMO.

Ride On Baby !!!!

Jeff

Black K12RS
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  #27  
Old 03-12-2006, 04:46 PM
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Re: Finance or Cash

Just traded in a 1999 K12RS against an 05 R1200ST. Ex dealer demonstrator, 3500miles on the clock, 9500 UK pounds instead of 11K new. Reasonable trade in on the KRS considering it had 40K on the clock. Paid the 6.5K balance cash. Hate finance (but some of those other deals sounded sweet)
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  #28  
Old 03-13-2006, 12:40 AM
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Re: Finance or Cash

I got a great deal on my 04RS and the .9 intrest and 5 payments. Made way more than that with that money invested. Don
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  #29  
Old 03-13-2006, 11:24 PM
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Re: Finance or Cash

I push a broom for a living so cash was not paid for the beemer. I got a toy I can barely afford but I always wanted one so I signed my life away for an 04KGT.
Later == Bobby
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  #30  
Old 03-14-2006, 08:17 AM
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Re: Finance or Cash

When I bought my '04 GT last March, they had a 0.9% and first 5 payments paid for for 4 or 5 years financed. After doing the math, I decided 100% financing and 4 years. This brought the payment up to $385 which offered the greatest amount for BMW to pay for. I put the $15k in the bank at 3%. By the the time I pay her off, I will have saved over $2.5k with the 5 free payments and the money i'm earning due to the difference in 0.9% paying and 3% earning. I think i did well....

Alex
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  #31  
Old 03-15-2006, 12:32 AM
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Re: Finance or Cash

Quote:
Originally Posted by davidmjh
i dont like the idea of financing a bike, it seems well to risky, its not worth it at all because not only is there interst on the purchase price but you have to get full comp insurance on it to and lets face it if you write off a bike chances are your not gonna be claiming

Yeah that may be the case davidmjh, but i cant imagine how pi#@ed off I would be if I were still paying monthly installments on a bike that some low life son of a b*#ch decided to take from my garage. I never under insure any of my vehicles just incase one day I cant find it where I last parked it.
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  #32  
Old 03-15-2006, 06:55 PM
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Re: Finance or Cash

Alternative thought on finance.

If I had to borrow money for a bike and pay interest over three years OR save for three years what would I do? Look at the total interest (say 1000 UK pounds?) and ask myself if I am willing to pay that for three years of total fun. It's less that one pound per day!! I think for the joy of a bike on the open road, I could live with that!
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  #33  
Old 05-07-2006, 08:40 AM
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Thumbs up Re: Finance or Cash

MSHEA,I aggree with you,to many clean used ones out there,I bought a new 00klt but not again
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  #34  
Old 05-10-2006, 06:27 AM
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Re: Finance or Cash

Quote:
Originally Posted by gtfodski
MSHEA,I aggree with you,to many clean used ones out there,I bought a new 00klt but not again

Testing
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  #35  
Old 05-12-2006, 06:13 AM
Daryl Cain Daryl Cain is offline
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Re: Finance or Cash

Cash; I like to own the goods and hate the idea of the bank "owning" part of my personal possession. Cash for the '04 Alpine white/Orient blue RS, cash for the black R1150R before that and cash for the Highly Dangerous softail custom before that etc, etc...

On each occassion we were able to get big discounts in equipping the bikes with the accesories we wanted. I think cash helps in that regard.
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  #36  
Old 06-05-2006, 03:18 PM
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Re: Finance or Cash

Quote:
Originally Posted by woody16550
Osii Yes you can bring your bike to Canada . When you go to register it they will charge you a wopping 15% tax on whatever they determin the value of your bike to be wether your bike is paid for or not.
That's right. Both Federal GST and Provincial tax combined. Welcome to the People's Republic of Canada.

You also pay the Provincial part of the tax EVERY time the bike is sold; tax is paid again and again. If you pay $5000 for a used bike, and the government thinks it is worth $10,000, then they tax you on a value of $10,000 (even though you paid only $5K).

Bob.
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  #37  
Old 06-05-2006, 03:23 PM
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Re: Finance or Cash

I would only finance it if they offer low enough interest rates that I can take the money I WOULD have paid in cash, and invest it elsewere at a higher rate. For example, if there were a 2% financing deal, and I could get a safe 5% investment return by, then I'd finance it and make a tidy 3%.

Bob.
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  #38  
Old 06-05-2006, 03:29 PM
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Re: Finance or Cash

I purchased my new '04 KRS in July '05. I got 0.9% interest rate. It made no sense for me to pay cash.
Bruce C
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  #39  
Old 06-05-2006, 04:36 PM
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Re: Finance or Cash

My stable.....both are clear.
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  #40  
Old 06-27-2006, 11:01 PM
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Re: Finance or Cash

In Jan 2003 I got an 03RS and I scored the super 5 payments free and 0.9% financing deal. Added 2 helmets, jacket, 2nd windscreen, FRS radio...............and only 3 payments remain!!
Financing? But of course. I only pay cash for lunch! Seriously, my wife has horses, there ain't no cash to be had.
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  #41  
Old 07-28-2006, 11:30 PM
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Re: Finance or Cash

wow, 180 votes.
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  #42  
Old 07-29-2006, 10:24 AM
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Re: Finance or Cash

Finance - Time-value of money - in 4-5 years a $ depreciates so you're paying with cheaper money, and hopefully earning more too - so the payment in the future is a lower % of income.
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  #43  
Old 11-04-2006, 10:30 PM
dkosters dkosters is offline
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Re: Finance or Cash

$3,500 of my '03 K12RS by paying cash, vs. 5 payments and a few other things. Sold it after 3 years for very little less than I paid for it.

Paid cash for the K12S and R12S, just because I hate being in debt! And there was a decent cash discount.
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  #44  
Old 11-20-2006, 06:38 PM
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Re: Finance or Cash

Quote:
Originally Posted by JimT
I scored the super 5 payments free and 0.9% financing deal

I tried that, told them I wanted to finance it for six months.
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  #45  
Old 11-21-2006, 06:10 PM
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Re: Finance or Cash

Hi All,

I had to finance, I really can't afford to ride a 2006 K1200s. But damn I love this bike.

George
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  #46  
Old 12-01-2007, 07:47 PM
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poll

Cash
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  #47  
Old 06-08-2009, 04:51 PM
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vics vics is online now
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Re: Finance or Cash

bump
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  #48  
Old 06-08-2009, 05:52 PM
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Re: Finance or Cash

Bought new '07 in January of '09 for $11,250 + 250.00 for delivery. Traded in my '06 Suzuki GS500 for $3,000.00 (exactly what I paid for it 6 months before the trade in). Financed 6k at 6.5% for 4 yrs. I make extra payments towards principle to have it paid off in 2 years (just in time for a new bike, I afraid, when the warranty expires).
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  #49  
Old 06-08-2009, 06:26 PM
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Re: Finance or Cash

I purchased my 02 K1200rsa Oct 11th 2001, traded in my 2000 CBR XX Blackbird(was paid for).
I financed $9000 @ 2.9%(I think) thru BMW finance. It is paid for now and has been for a year or 2 now, don't know that I would purchase new again, $17,900 + 6.5% state tax on the difference from the cbr to the bmw, was hard to chew on, but happy I purchased the BMW, I love this bike and it currenlty has 22,000 miles on the ticker. Just broke in

It's funny(strange) that the bike in now 2009 and is worth around $8000, sooooo 8 years it has lost $9900 in value, that is $1237.50 per year for the loss of value
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  #50  
Old 06-08-2009, 07:04 PM
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Red Tail Red Tail is offline
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Location: richmond, va usa
Re: Finance or Cash

always cash 4 my toyz/wheelz
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  #51  
Old 06-09-2009, 09:55 AM
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Re: Finance or Cash

'06 K1200R bought used Dec '07. with 4600 miles. Factory warranty through May '10. They were asking $13,900 out the door. Ended up $12K even out the door and a free helmet. Cash all the way.
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  #52  
Old 06-17-2009, 03:25 AM
BAK04GT BAK04GT is online now
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Re: Finance or Cash

Pay?...Forgot about that part
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  #53  
Old 06-17-2009, 03:28 AM
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Re: Finance or Cash

0.9 04 GT...Lunch money
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  #54  
Old 06-18-2009, 12:37 PM
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Big_Bend Big_Bend is offline
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Location: Houston, TX USA
Re: Finance or Cash

After my father died I inherited a little money and that was used to pay cash for my GT. Otherwise I woulda had to finanace.

Actually I never woulda bought a BMW in the first place if it hadn't been for the inheritance.

Thanks dad!! I miss ya tho...


take care.. Allen
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  #55  
Old 06-19-2009, 06:54 PM
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Re: Finance or Cash

If you finanace, and have a change of heart there is no penalty to paying off the loan anytime you choose.
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  #56  
Old 06-19-2009, 07:39 PM
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Re: Finance or Cash

They wouldn't take a CC, so loaned it and after 2 payments payed it off. Got a great story on that about sales tax and buying outta state!
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  #57  
Old 06-19-2009, 08:05 PM
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Re: Finance or Cash

Quote:
Originally Posted by Northsquad
If you finanace, and have a change of heart there is no penalty to paying off the loan anytime you choose.
Not if obama gets his way...If it looks like your going to make out by paying off a loan sooner than the term...Guess who is going to take a little of that savings you thought you were going to get away from you ....Its coming.....To a theater near you!
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  #58  
Old 07-20-2009, 12:44 PM
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Smile Re: Finance or Cash

He is smiling today



Quote:
Originally Posted by Big_Bend
After my father died I inherited a little money and that was used to pay cash for my GT. Otherwise I woulda had to finanace.

Actually I never woulda bought a BMW in the first place if it hadn't been for the inheritance.

Thanks dad!! I miss ya tho...


take care.. Allen
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  #59  
Old 08-06-2009, 09:40 AM
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Re: Finance or Cash

Last several have been cash.
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  #60  
Old 10-27-2009, 01:19 AM
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Location: vancouver (Delta, BC Canada
Re: Finance or Cash

Quote:
Originally Posted by RFW
I would only finance it if they offer low enough interest rates that I can take the money I WOULD have paid in cash, and invest it elsewere at a higher rate. For example, if there were a 2% financing deal, and I could get a safe 5% investment return by, then I'd finance it and make a tidy 3%.

Bob.
You forgot about taxes on your 3% Bob.12% import on bikes to B.C. not 15%. Been there done that. Any bike you bring in will be considered used. I don't finance toys which my bikes are to me.
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