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Paid off my bike today! Woot Woot!

J

JT

Monster Member
Elite Member
Joined
May 1, 2012
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7,679
Location
Bakersfield CA
www.youtube.com
Paid off my bike today! Woot Woot! :D:D:D:D

took 14 months from the day I got her at the dealer with 0 miles at a crazy high price! o well I got what I wanted, the beast is now paid off and fully mod-ed thanks to everyone on the forum!

Still have some light mods and gear I want but nothing big.

Thanks again to all the help I have received from our awesome forum members
 

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congrats

Congrats JT, sweet looking bike. Paying off in 14 months is good. I was going to pay mine off early but then I realized im paying so little interest id rather pay off more of my credit card and drag the bike out as long as I can. My payment is a whopping $75 a month. Bet it will feel good to have title in hand though!
 
What a feeling! Right?

Congrats! :)
 
Wow!! Thats fantastic! Now she totally belongs to you!!
You have done some awesome work on your bike. It truly looks fantastic and you should be proud!!
 
Grats brother! Just don't go and sell it next week. :thumbup:
 
Congrats on the payoff!!

Now it will be even harder for you to go to a different bike and trade this one in... It passed through my mind about trading in my bike also: I OWN this bike and pay nothing, do I really want a $150+/month payment now again! LOL

Think its easier to trade in if you owe on it yet because then it is. I am paying $110/month and this bike after trade will only be an extra $30... Ohhh the mind games
 
JT said:
Paid off my bike today! Woot Woot! :D:D:D:D

took 14 months from the day I got her at the dealer with 0 miles at a crazy high price! o well I got what I wanted, the beast is now paid off and fully mod-ed thanks to everyone on the forum!

Still have some light mods and gear I want but nothing big.

Thanks again to all the help I have received from our awesome forum members
Click to expand...

Congrats JT!!! Paying something off is a good feeling. I paid cash for mine (my bike is a "toy" in my mind, so I won't borrow money to buy it YMMV), but I can't WAIT until the mortgage is paid off. We just refinanced from 30year 5.3% to 14 year 2.5% and we are paying that sucker off twice as fast.
 
Pinarello Rider said:
Congrats JT!!! Paying something off is a good feeling. I paid cash for mine (my bike is a "toy" in my mind, so I won't borrow money to buy it YMMV), but I can't WAIT until the mortgage is paid off. We just refinanced from 30year 5.3% to 14 year 2.5% and we are paying that sucker off twice as fast.
Click to expand...

If you're paying 2.5%, you might want to think again about accelerating the payments. Instead, if you can find a way to (safely) invest and earn, say 4%, then you would come out ahead. Being prudent about debt is one thing (and I'm a strong proponent of that, just like you) - but there's also something called being financially "under-leveraged". If you're below 40-45, think again about paying down too soon.... just my $0.02.
 
Nik2133 said:
If you're paying 2.5%, you might want to think again about accelerating the payments. Instead, if you can find a way to (safely) invest and earn, say 4%, then you would come out ahead. Being prudent about debt is one thing (and I'm a strong proponent of that, just like you) - but there's also something called being financially "under-leveraged". If you're below 40-45, think again about paying down too soon.... just my $0.02.
Click to expand...

I agree with this. I wouild LOVE to pay down our mortgage and save that money every month. But the interest rate on the mortgage is low, and we get SOME tax savings on the interest (as long as that rule doesnt change). Either way with the lower interest rate, I would rather pay off any other credit and build a nice safety cushion. Then once that happens, begin paying extra.

Only little bits help. We have a 30 yr at 3.9% fixed and we now have 28 to go (kinda). Using our lenders calculator, we found that just paying $50 more per month, did something like shave 2-3 years off of the loan. If we paid $100 it would shave 5-7 about.. I know when we were realistically looking at what we would be able to pay extra, and still put a good chunk of money away we could have gotten our loan down to 23 years about. Unfortunately, our extra payments have ended now that we ran into more vehicle issues, had to mud jack the front sidewalk and one of our puppies is on supplements and frequent vet visits for early kidney disease. But we will start up again when we pay off some bills again.
 
Congrats JT, i'm glad its yours now.
 
absolutely

Nik2133 said:
If you're paying 2.5%, you might want to think again about accelerating the payments. Instead, if you can find a way to (safely) invest and earn, say 4%, then you would come out ahead. Being prudent about debt is one thing (and I'm a strong proponent of that, just like you) - but there's also something called being financially "under-leveraged". If you're below 40-45, think again about paying down too soon.... just my $0.02.
Click to expand...

Nik2133 said:
If you're paying 2.5%, you might want to think again about accelerating the payments. Instead, if you can find a way to (safely) invest and earn, say 4%, then you would come out ahead. Being prudent about debt is one thing (and I'm a strong proponent of that, just like you) - but there's also something called being financially "under-leveraged". If you're below 40-45, think again about paying down too soon.... just my $0.02.
Click to expand...

My brother is a financial advisor and he has a saying about dragging those kind of interest rates out as long as you can. You can pretty easy earn 4 by putting it into something instead of paying off, but congrats 2.5 for 14 is fricken awesome, but I thought you were moving to so cal :)
 
latony007 said:
My brother is a financial advisor and he has a saying about dragging those kind of interest rates out as long as you can. You can pretty easy earn 4 by putting it into something instead of paying off, but congrats 2.5 for 14 is fricken awesome, but I thought you were moving to so cal :)
Click to expand...

haha!! You've got a good memory Tony! That particular job didn't pan out (I turned it down) for a number of reasons, but that whole excercise convinced me that paying down the mortgage is more important because it is flexibility. Without too many details, to refinance we had to take PMI for a year or two (obviously we aren't underwater), but it's important for us to have as much equity in the house as we can so that we can have a cushion should relocation become an option again. Right now, finding ANYTHING that pays out 4% or better is a touch pill to swallow, especially if you know you may need that money in the near future. Which for us is a possibility. I could throw 10k into a "fund" and watch it go to $8k tomorrow.
 
MNGreg said:
Congrats on the payoff!!

Now it will be even harder for you to go to a different bike and trade this one in... It passed through my mind about trading in my bike also: I OWN this bike and pay nothing, do I really want a $150+/month payment now again! LOL

Think its easier to trade in if you owe on it yet because then it is. I am paying $110/month and this bike after trade will only be an extra $30... Ohhh the mind games
Click to expand...

true!! but I made my baby mine I cant and wont let her go lol
 
JT said:
true!! but I made my baby mine I cant and wont let her go lol
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you surely have. I just noticed this, where they heck did you get the red chain?
 
latony007 said:
you surely have. I just noticed this, where they heck did you get the red chain?
Click to expand...


I think I got it of a member here! I looked and looked and looked on ebay and amazon but nobody had the same number on link and size that I needed but a member her had it for some reason. other colors are much usually in stock but I guess red is not.
 
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