Paid off my bike today! Woot Woot!


J

JT

Monster Member
Elite Member
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
 

Attachments

L

latony007

New Member
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!
 
D

Detrich

New Member
What a feeling! Right?

Congrats! :)
 
A

ajones70

Member
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!!
 
X

xleeb0y13x

New Member
Awesome bro. There's a weight off that I look forward to. And the bike looks great.


Sent while running with scissors.
 
S

SpawnXX

Premium Member
Grats brother! Just don't go and sell it next week. :thumbup:
 
M

MNGreg

waiting out winter
Elite Member
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
 
M

MrGti

New Member
I paid my bike off in 2 years. There is no better feeling then to have the title to my bike and my 3 cars.
 
P

Pinarello Rider

New Member
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
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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.
 
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Nik2133

New Member
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.
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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.
 
M

MNGreg

waiting out winter
Elite Member
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.
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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.
 
B

bleedinblue

Senior Member
Elite Member
Congrats JT, i'm glad its yours now.
 
L

latony007

New Member
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.
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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 :)
 
P

Pinarello Rider

New Member
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 :)
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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.
 
J

JT

Monster Member
Elite Member
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
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true!! but I made my baby mine I cant and wont let her go lol
 
L

latony007

New Member
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?
 

J

JT

Monster Member
Elite Member
latony007 said:
you surely have. I just noticed this, where they heck did you get the red chain?
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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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