| Advice on motorcycle purchase Update in OP |
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| What should I do? |
| stay with what I have and stay out of debt |
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| buy the motorcycle |
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| Total Votes : 12 |
hopper
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Cash: $ 2.05
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Joined: 02 Jun 2011
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| Advice on motorcycle purchase Update in OP |
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Hi there!
I need some other peoples advice/ opinions.
I am currently a full time college student on a slim budget. Like most people the price of gas is killing me. My current vehicle is paid off but only gets roughly 14 miles to the gallon and I drive 200+ miles a week. I have been looking into a motorcycle for my commute to save gas @50+ mpg.
I figure with the money I save on gas I can put towards paying off the bike.
The details: with gas at $3.80 a gallon I would save $43 a week! The price range im looking at is $2500-3000. Insurance would only be $300 a year, $125 motorcycle safety class, and registration fee of $60-70.
I would take a loan out to purchase the bike from my local credit union.
Do you think this is a good idea or not?
UPDATE: To add a new twist to this question... A tire on my daily driver blew out and the rest of the tires are at roughly 20-25% tread left so it makes no since just to replace one. For the least expensive option I am looking at is $900 for 4 new tires. The truck needs alignment at $120++ (++ due to parts needed) and other minor work thats adding up fast.
I found a local bike for $2300obo too.
Last edited by hopper on Thu Jun 16, 2011 12:40 am; edited 1 time in total |
Thu Jun 02, 2011 10:11 am |
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oldguy
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Location: arizona
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Include some 'facoring' into your $43/wk savings. Depending on the climate, you can probably use it about 6 months per yr. And during those 6 months, you will likely have 25 or 30 rain days when you need to take the car. The worst LOL is when you are stuck at work in a bad storm and you have to call home for a ride, you end up paying for both the round-trip of car gas and the bike costs that day.
Anyway - say that you get 20 weeks a yr at $43/wk - that's a savings of $860/yr. So - it takes about 4 yrs before you get any return on your $2500 and your $1200 insurance money. I remember freezing my shins on about a 5 mile ride to work in 35 degrees, And I remember getting caught in a driving wind & rain storm that flooded the streets - so whenever cars passed me they showered me with 'wheel' water, that was about the coldest wettest 20 miles that I've ever ridden.
If you are doing this for practicality, get a new $1000 Vespa-type scoot. If it is for the sport, get a used 250 cc & bigger.
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Thu Jun 02, 2011 3:32 pm |
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hopper
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Cash: $ 2.05
Posts: 10
Joined: 02 Jun 2011
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I live in Vegas so there is plenty of good weather with very little rain or cold.
I looked into scooters but they dont hold their value. Motorcycles on the other hand drop very little value. So if I ever decide to sell it I wouldnt see such a depreciation on investment.
Plus there is always that dang scooter holding up a whole lane of traffic. Also my dad had a little 50cc one and it was the biggest pile of crap ive seen.
Factor of savings: 220miles/ 14mpg = 15.7gallons * $3.80per gallon = $59.71
220miles/ 50mpg = 4.4 gallons * $3.80per gallon = $16.72
the difference is $42.99
I am looking at a Kawasaki KLR 650
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Thu Jun 02, 2011 8:16 pm |
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oldguy
Senior Member
Cash: $ 309.30
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Yipe - a $6000 Crotch Rocket capable of over 105 mph? I'm guessing that 'sensible transportation' and 'good gas mileage' are not really a part of your purchasing decison? LOL. Nothing wrong with that - I've always enjoyed my motorcycles. But be honest with yourself, it is called 'intellectual honesty' - don't buy it for a made-up reason.
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Thu Jun 02, 2011 10:28 pm |
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hopper
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Cash: $ 2.05
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Joined: 02 Jun 2011
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quote:
Originally posted by oldguy
Yipe - a $6000 Crotch Rocket capable of over 105 mph? I'm guessing that 'sensible transportation' and 'good gas mileage' are not really a part of your purchasing decison? LOL. Nothing wrong with that - I've always enjoyed my motorcycles. But be honest with yourself, it is called 'intellectual honesty' - don't buy it for a made-up reason.
A KLR 650 is by no means a crotch rocket... it is a dual sport bike aka a street legal dirt bike with a realistic speed of 80-90mph. I prefer the look and ease of maintenance on a dual sport bike vs a sport bike where you have to pull the whole bike apart to get to the air filter, since I do all the work myself... gotta be money wise  .
Second I am looking at the 650 vs the next size smaller 250 because I am 6'2" and 240lbs... a 250 will be underpowered for my size.
Will I enjoy a motorcycle, yes. Does it also help financially, YES. There is no made up reason here...so back to topic.
Here is a example of the bike for referance.http://www.totalmotorcycle.com/photos/2000models/2000models-Kawasaki-KLR650.htm
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Thu Jun 02, 2011 11:10 pm |
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coaster
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Location: Wisconsin
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I think both you guys are missing a big point.
Hopper, your full-time job right now is student. Your primary goal in life right now is to finish your education and use that to get into the career job where you make the best use of your natural talents and abilities along with your new hard-won knowledge to make a life for yourself and to add something positive to the world.
Forget the numbers. Numbers can be massaged to come up with any desired result.
The question you need to honestly ask and to answer is: which decision .... to buy or not to buy .... moves you one step closer to your primary life goal?
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Fri Jun 03, 2011 12:52 am |
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oldguy
Senior Member
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What college - UNLV? And which campus are you driving to? Major?
quote:
looking at the 650 vs the next size smaller 250 because I am 6'2" and 240lbs... a 250 will be underpowered for my size.
Maybe - I don't weigh in at 240 but the 250's that I have owned can hold their own in city or highway traffic. And there are plenty of 350's, 500's, etc, on the market. The big 4-stroke single that you selected needs water cooling because of motor size, a smaller 4-stroke can be air-cooled, less hassle, less cost. (The 650 single must be an absolute tractor, that would be more fun than the old BSA 500 singles that we rode in 100-mile Enduros.) You are correct to choose the 4-stroke, way better gas mileage than the 2-stroke.
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Fri Jun 03, 2011 2:05 am |
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hopper
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Cash: $ 2.05
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Yes UNLV and the main campus but I live all the way on the west side of town with my parents. My major is construction management.
Thanks for all the advice.
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Fri Jun 03, 2011 2:43 am |
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coaster
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Cash: $ 1357.80
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Oh, well, at that age I would've been more interested in the motorcycle than the rest of my life, too. 
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Sat Jun 04, 2011 5:15 am |
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hopper
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Cash: $ 2.05
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Really how I see it is at $40 a week savings, 6 months = $960 on the low side. If I decide to sell the bike it holds its value (ex bike with 15,000 miles is $300-400 cheaper then one with 6,000 miles) so depreciation is relatively low.)
Im still not sold for either way. 
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Sat Jun 04, 2011 7:04 am |
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eastmn
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I'd take the bus before riding a bike. Consider the $43 per week as insurance (seat belt).
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Sat Jun 04, 2011 11:42 am |
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ghstyler
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Location: uk
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| Support |
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Support:Really how I see it is at $40 a week savings, 6 months = $960 on the low side. If I decide to sell the bike it holds its value (ex bike with 15,000 miles is $300-400 cheaper then one with 6,000 miles) so depreciation is relatively low.)
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Sun Jun 12, 2011 6:29 am |
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hopper
Member
Cash: $ 2.05
Posts: 10
Joined: 02 Jun 2011
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UPDATE: To add a new twist to this question... A tire on my daily driver blew out and the rest of the tires are at roughly 20-25% tread left so it makes no since just to replace one. For the least expensive option I am looking at is $900 for 4 new tires. The truck needs alignment at $120++ (++ due to unknown parts needed) and other minor work thats adding up fast.
I found a local bike for $2300obo.
I am looking at making a 880mile round trip to do some work and get some money. So 880mi/15.5mpg= 56.77gal*$3.80= $215.74 or 880mi/50mpg= 17.6gal*$3.80=$66.88 so by buying the bike and taking it up there I will roughly save $150 right off the bat.
Does that change anything?
THANK YOU FOR YOUR HELP!
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Thu Jun 16, 2011 12:47 am |
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oldguy
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Cash: $ 309.30
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quote:
For the least expensive option I am looking at is $900 for 4 new tires. The truck needs alignment at $120++
Wow - that is some pretty wild rationalizing just to justify a bike. I put 4 new tires on my 4WD Dodge a couple months ago, about $460, including tax, balance, and new stems. And these are seriously large 4WD tires. What the heck size tires cost $900??
How do you know it needs an alignment? How did the tires wear?
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Thu Jun 16, 2011 1:21 am |
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hopper
Member
Cash: $ 2.05
Posts: 10
Joined: 02 Jun 2011
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they are 285/75/16... where the heck did you find tires for $460??? The outer lugs are more worn then every other part and it scrubs bad when turning. Its needed if for some time and the last mechanic said he couldnt align it due to a broken camber bolt.
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Thu Jun 16, 2011 3:23 am |
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