How to Financially Ruin Yourself with Motorcycles

[@JungLeeTheDoctor]

This is why I buy things in cash. If I can’t afford to just pay for it out of my bank account… I can’t afford it.

[@marvina8536]

Bro I got a decent amount of savings but pulling money out of my saving or investments, it’s like pulling my teeth. Respect

[@James_Wotring]

Same, always cash. It keeps me honest. Otherwise I'd have a $1000 per month obligation and more cool machines

[@solsticenight1600]

You got at least 80k in cash to spend on a house? If the AC goes out and its the compressor you got 2k in cash for that? Got that extra 15k for a new roof?

[@JungLeeTheDoctor]

@ I mean seriously, outside of the obvious things we all have to take loans out on… it’s not wise to buy things on credit when you don’t have to.

[@EpicBrahmin]

Not always the best option. I bought my bike at 1.99% APR. I can take the extra cash I would have spent to buy it up front and invest in stocks with a rate of return higher than my APR+Inflation. Literally making money by choosing to finance over buying in cash.

[@Bodahboi]

This video OPENED MY EYES! got a used 2020 ktm390 adventure with 2k miles about 2.5 months ago for $5k and I constantly want something faster. Was thinking about going upside-down trading it in for a new RS660 soon, but....... FOR WHAT?? Just have to chill out and enjoy the ride. Thanks YN

[@yammienoob]

Atta boy!!

[@uncleartax]

It wont be any more fun. Its just vanity. You really see it at track days. Guys on bmw s1000 getting lapped by a clapped out drz400s. And anybody thats a real rider does not think less of you for being smart

[@tonyrdixon84]

I started on an RC390 and traded up to an RS660 and I friggin love the thing. Also, I was able to buy both with cash. The 390 started to struggle past 90mph and now that I have the 660 how I want it, I don't have any need to upgrade more. I don't do track, but I ride the canyons here in Los Angeles. Plenty of fun, plenty of power for my riding needs and plenty of cool factor. Who doesn't sound cool saying they ride an Italian sport bike?

[@jasontomlinson8321]

This is why you start on a clapped out liter bike. Noone wants to be Fred

[@gusrockes]

If your car costs more that your bike, you're not doing it right

[@sleazy_9435]

What?

[@thisisDway]

😂

[@Elgueroloco-60]

I just went in debt for a 8k van to haul around my 3k stunt bike

[@m.j.41]

I drive a 911. Impossible to buy a bike that expensive.

[@pault6054]

My car is 10k used. My bike is 10k brand new new

[@rolandyancydorol4635]

morale of the story: do not crash your bike, ride as safely as you can.

[@kupalisky3553]

I had 3 bikes on loan last year. Woke up one day like "WTF am I doing" and sold some stock to pay them all off lol. No point carrying high interest loans.

[@langhamp8912]

You could borrow against your 401K. The interest on that loan goes back into your 401K since you're both the borrower and the lender. Plus, sticking 20K to 30K into your 401K is done pre-tax so your tax burden is quite a bit less.

[@tannersmith8415]

​@@langhamp8912 I'd be careful with doing that. Yes the interest of a 401k loan is being paid directly back into your retirement BUT, depending on where you're at in your interest building, taking that money out means you won't be compounding interest as quickly as you were before the loan. Like they say, the first 100k takes the longest to accumulate. If you take a loan out and you're back down to 70k, it's gonna take that much longer just to get back to 100k PLUS you're paying a monthly payment now

[@hopey1809]

@@langhamp8912 the bank is the lender. your 401k works as a collateral against the loan the bank gives you. Please correct me, if I am wrong, since I am European, but this concept should apply either way.

[@langhamp8912]

@ Normally that is true in most loans, but the 401K is a special case. There is a $40 fee which presumably does go to the bank, but it's important to note that the interest charged on a 401K loan goes back to you and not to the bank. In most "standard" loans, the interest charged for using the money goes to the bank but not in a 401K loan.

[@hopey1809]

@@langhamp8912 thank you for clarification. It is a no brainer then.

[@BladedAngel]

One time I watched Caleb Hammer, and there was this Trucker Dude, who also had a New Harley Road Glide who was doing $1000/month payments...ON A BIKE with like 10%+ interest... Remember, just when you think you've found the limit of stupid, there will ALWAYS be someone dumber.

[@IamPinhead]

The Road Glide was his second bike and he refused to sell either one to get himself ahead.

[@SubvertTheState]

​@@IamPinhead wow haha

[@michaelevans5603]

Being a trucker, how much time does he have to ride it?

[@lifeatredline1783]

I think the saying is: “Why spend money you don’t have, to buy things you don’t need, to impress people you don’t like.”

[@TomStratis]

I am much older than you but you are giving great advice! I strarted riding at 18 and continue to do so at 70. At this point I am on my 27th motorcycle. Be sensible early on, build some wealth and cover the necessary stuff first. Down the road you just may find yourself buying new with cash a bike you may keep for a few years.

[@charlesbrown1444]

Loans on the bike can be a good thing IF you can afford it. I financed a portion of my Vulcan S 650, 4y loan, I’m on track to have it paid off in 1.5 years based on my normal paychecks. But when it’s done, it’s a loan on the CR that’s paid off and boosts my rate for the 5 additional years it’s on there

[@RA3YRAM]

Buying a beginner bike should be no.1, just get a Ducati v4

[@IamTheRealCoz]

Your first bike should always be a Busa!😂

[@justicefool3942]

@@IamTheRealCoz A Turbo Busa

[@stephenbarnes8817]

Naw, the Ducati and bust are too mundane. Step up to a MV Agusta.

[@MaybeFactor]

Imagine my surprise when the V4 and the Busa are both not allowed for new riders in Australia. I was shocked!

[@planetbizzaro1839]

Beginner bikes are good for teenagers who are only riding around town. Once you're an adult and need to travel 10+ miles for work etc then you'll need something more realistic for a reasonable highway ride

[@MaybeFactor]

It sometimes makes sense to finance a vehicle, particularly in areas with poor public transport, but never finance mods or other stuff you don't NEED

[@DeadLemonz]

Going on 9 years of motorcycling experience and last year I bought a 2003 CBR 954 ($3500) and a 2007 CBR 600rr that needed fairings ($3200) after selling my old Aprilia shiver 750. Insurance is $102 for both. I could easily get a new model 1k in cash, but old bikes are so good and can be found everywhere so it doesn’t really make a whole lot of sense.

[@CHEENOSLIFE]

I really appreciate this video for all the young people to understand mature thinking when getting into riding

[@jordanfearno]

Thank you Yammie for keeping my head on straight lol. I was thinking about being dumb and getting a loan when I’ve traditionally saved and bought everything in cash!

[@KarlBuckley-bw3vc]

Poor Fred, he never stood a chance 😢 wait until Fred gets a long term girlfriend, then he'll be financially decimated 😂

[@sorecentipede]

What kind of "girlfriend" is this supposed to be then?

[@MandisDeGa]

Justo ayer, estuve a punto de comprarme una Yamaha mt03 a crédito aquí en México, solo tengo lo del enganche, cuando me mandaron los papeles de lo que iba a pagar y todo miré que terminaría pagando más de 50,000 pesos de lo que valía la moto, decidí no comprarla y ahorrar el dinero, no importa si estreno la moto hasta noviembre o diciembre, pagaré lo que es y no le voy a deber a nadie.. muy buen video gracias ✌🏽

[@KensWorldRestorations]

I so much prefer to buy bikes that people have given up on. So often people get bored and a bike sits and really hits rock bottom as far as value goes. That's the time to grab it for cash, do the repairs myself and go have some fun.

[@alexmodernclassic]

This is probably the most important video you’ve ever made

[@illyaseagal5605]

Great video! Your channel helped me make the decision to ride and buy a bike this past August. Enjoying my used KTM 390 adventure! With love from snow covered Toronto.

[@badmeetsevilfan1]

We’re here for a good time not a long time

[@JacobGonzales-ti1wj]

Being a 23 year old who lives in Dallas and is looking on the Facebook marketplace to buy a bike in cash soon, this video put a good amount of things into perspective for me and gave me a little more understanding of the culture and how I should approach buying a bike, thanks man!

[@josephruck1]

No Fred is doing it exactly correct, we all need to make these mistakes. Fred then keeps his R9, but starts to build a race bike. He does what he has to raise the extra 25k to prep the bike, get race leathers. He goes on to win the daytona 200, get a wsbk ride, and ultimately he secures a factory motogp ride with ducati. His base pay is 2 million euros and he dates a French model. FRED WINS

[@Ninja98x]

Exactly, Yammie ended the video too soon by only talking about their first 3 years of motorcycling!

[@bobbybob3447]

Epilogue: Sadly, Fred fell into the model girlfriend's lifestyle and developed a serious cocaine habit. His training fell off, too, and after some poor race performances, tested positive for cocaine and was banned from the sport for four years. Fred is now a barista in one of Paris' outer arrondissements, chain smokes on his brakes, and can only afford to ride a 1980 Puch moped.

[@Ninja98x]

@bobbybob3447 Worth it!!

[@bobbybob3447]

@ There's always one! LOL!

[@aeroman5239]

Almost 56 y/o - started out street riding with a '67 Suzuki S32-2 (150cc) when I was 15 (ok, off-road mostly), sold it for a '73 Honda CB 350T, which I used to get my license at 16 and rode to high school often with it, sold it for a '76 CB750k which was rough - fixed it up and sold it for a '80 Honda CB900F, and then when I was 17, I scored an '84 Honda V65 Sabre for $2200 w/2k miles on it. I worked for a Honda/BMW/Suzuki M/C dealership in HS as a parts guy until I went-off to college out-of-state. The Sabre stayed with me through my junior year, when I sold it w/19k miles on it. Had many other bikes in my 20s/30s/40s - ZX-10, ZX-9R, VFR750F, FZ-1, and VFR800. Every bike I bought low, fixed it up, rode it a bunch, and sold high. I'm currently riding a '22 Duc MTS V4 PP, which is the 1st bike I bought new. It is an incredibly versatile bike for either sport touring or back-road carving, and it doesn't wear me out after 4-5 hr stints in the saddle.

[@andrewwilson3054]

My Honda XR200 I got new in 1996 for my 16th birthday, in that same year I saved and had it made street legal. I will never forget how happy I was to receive that bike. 29 years later I still own this now beat up bike that I cannot bare to upgrade to something else. Its memories are priceless and they just keep getting more. No motorcycle in the world, no matter how good it could be could ever replace my XR.

[@Josh-balti]

Biking is all about freedom and borrowing a bike off the bank is servitude, it doesn't make sense to me. I have 2 bikes, one is 17 years old and the other has it's 20th birthday this year. They cost me about three grand each, I paid cash upfront and they are 100 percent mine. I'd take an old bike that i own over a new one my bank statement reminds me of every month every time.

[@WinterSkyyy]

I met a literal billionaire who wears Ralph Lauren Polo and Levi's everyday. It's true, true wealth flies under the radar

[@davidbrayshaw3529]

You are dead right it does. There's an old saying: Wealth whispers, debt screams.

[@ion9460]

Just bought a decent "clunker" '04 V-strom. Doing some fixing up on it will cost me a couple hundred, but all in all the cost will be under $3200 to get it and get out on the road. Sure, it's got miles on it, but it's paid for in cash and has new tires on it. Now I can save some money up between now and summer and enjoy a road trip or two this summer. Do you hear how that sounds? No payments, FREEDOM BABY!

[@brendancarew7310]

I really appreciate this video. I'm preparing to get my license and my first bike for this spring and was going to take a loan out for everything. Mind you, I'm a little older and more responsible than the first guy. But still, I should look for ways to save money on this hobby wherever I can.

[@FastSundayflyer]

Bought a very low mileage 2011 Vstrom 650 in like new condition with color matched panniers for $5000.00 cash. I don't need anything bigger, or faster. Works for me! 😁

[@RoninBeaver]

Bought a $4,000 2019 Z650 for my first bike about a year ago, it’s been the perfect bike this first year. Now I’m looking at buying my next bike in cash after saving up for a year and being able to sell my current bike will put me over the top and allow me to get insurance, new gear, etc for my next new to me bike. Buy your first bike in cash and be patient to find the right one, it’s the best move you can make as a new rider in my opinion.

[@karljay7473]

They make it so easy for you to drown in debt. It's so amazing that there's so many businesses that are right there to screw you out of every dime you have, and so few businesses or people that will actually help you to do better. I bought a used bike for $400 and another one for $3K... both still going strong.

[@davidlagno7717]

In 25yrs i only financed 1 bike and it ended up a lemon. An 09 Speed Triple anniversary addition that came with a watch and a blown motor. Ive had over 30 bikes not counting dirt and i bought them all used. When u finance u gotta get full coverage insurance too and as specially on a Sportbike in NJ your fuct then. I got a mint 2014 S1KRR 2yrs ago for 8k cash. And i got a salvaged Bandit 1200 for 2k and put 3k into it to build a bored out streetfighter out of it. I could drag race if i stretched it. Theres so many mint bikes out there 2nd hand as specially sportbikes that have really low mileage, people bought during covid, it scared them or they got married and now its sitting in a garage just waiting for someone. I live to ride, it keeps me sober because the freedom and adrenaline is what its all about. I have respect and love for anyone on 2 wheels. Dont feed into the internet hype and just get out there and experience it for yourselves. Everyones an expert on youtube. Screw them. Gear is so important and ride safe. Its better than any drug out there!

[@abbashamideh3783]

You give amazing advice! Just be smart even if you take out a loan, as long as you can comfortably pay the payments without going bankrupt. I have 5 immaculate motorcycles that I purchased and paid off comfortably. The key is being able to pay it off with minimal interest, which means doubling and tripling on the payments until it’s comfortably paid off. Nevertheless, there are great deals out there on used bikes if that’s your cup of tea.

[@tylerray1728]

This is why my goal for next year is to get my bike paid off. I LOVE my little Shadow 750, but it's already time to upsize. However, it'll be a couple years before I get another bike.

[@lushie1073]

This is good education. If you think you can finance something and are a mature adult, go for it. But the message behind this video is if you want to ride a bike, do not go over board. It will grind you down before the loan is done. We all live and learn at the end of the day. Don’t go end world mode over a few grand lost or made. Live and learn! And in my experience, if you are in your early 20s thinking about taking out a loan, you will not regret taking the ladder.

[@nicnadu0515]

I bought a 2001 Suzuki bandit 1200s for 1800$ and rebuilt it now I’ve been riding it for about 3000 miles and it’s mint

[@adamlanglois563]

Such a slept on good bike. Those old oil cooled Suzuki's are tough as nails.

[@nicnadu0515]

@ so true I love mine

[@exothermal.sprocket]

That air/oil cooled big 4 is as tough as a stone axe and with proper maintenance you cannot go wrong.

[@DonJ.]

There's a lot of Freds out there!!! And I do mean a lot!! 😂😂 time to go to Copart and get Fred bike!

[@vizualjockey4419]

Here's my journey... I did buy most of my bikes from dealers and even bought the first REAL bike new (yeah I know) however, being pragmatic, I kept each bike for at least 1.5-2 years and owned the bikes outright before even thinking about an upgrade. At no point did I take out a loan on any vehicle without having the cash on hand to pay it off outright in case I needed to for whatever reason, including my SUV and Street Triple which I completely paid off after getting laid off from my job. This made riding more enjoyable knowing that the replacement value of my bike was sitting in my car. I also only took liability insurance for a few years because I calculated the risk of totaling the bike and just writing it off to buy something else worked out seen as I probably wasn't going to ride for a while after any major incident anyway. I even bought the FZ on my credit card for the points, paying the balance off the very next day as soon as it cleared my account. Keeping up with the Jones' is never worth it, ride your own ride. Honda Ruckus (new) -> 2020 CB300R (new) -> 2017 FZ07 -> 2020 Street Triple RS

[@DaneJohnston02]

jose is gonna need a bigger top box to fit the standard size phillipino child

[@AMan-JCIL]

As a rule of thumb, I always make sure not to spend more than half of what I get paid, that way my money is constantly building up, and if I really want something that's going to cause me to break that rule of thumb then I never buy something that will cost more than half of what I have saved up in total and even that would be pushing it, I would probably only spend a quarter of what I have saved up in total realistically if I wanted something that bad. But I guess everyones circumstances and finances are different.

[@joeyboombatts5067]

Those insurance payments are insane, my 24 busa costs me 67 a month, my 16 zx14r is about 33. Gotta find the right company for motorcycles

[@decocatani]

Despite the fact that motorcycle market in Brazil is waaaaay different from US, the general rule is the same: never spend money you don´t have. In case of feeling that you need to impresse someone you don´t even know, maybe it´s better to spend some money with a shrink first. I´ve bought every single bike I´ve owned saving first, buying later. The last one is a 2009 R1200RT with just 30.000 Km, which cost me less than U$ 10K. Mint condition, all bags, bells and whistles, just fuel and hit the road. As we riders get old we understand that the only thing that really matters is to ride safe and enjoy the road.

[@kendemers8821]

Great video combining the discovery of a great sport and financial planning and responsibility. I think the sport of motorcycling and financial responsibility can peacefully coexist. Thanks for a very enjoyable video.

[@RevusX]

I saved up and bought all my gear over the course of a year before finally buying a motorcycle, which I did take a loan out on to build more credit.

[@CasualWooks]

This is why I saved up to pay cash for my first bike. Just picked up a '24 Duke 390 for $5200 out the door.

[@EmmanuelGarcia-w9w]

BEST VIDEO YOU'VE MADE SO FAR YAMMIE PAPA... ty!

[@MissingAgent188]

Great video, I am at a situation right now where I am unsure if I should get my first motorcycle. I am 19 and have money saved up for a Royal Enfield Super Meteor 650 + Safety Gear, insurance, etc.... But my dad and grandpa say I shouldn't get a bike because A. It's a waste of money, B. I live in a city with very good public transportation and C. We are not sure in which country I will be in the next 5 years

[@Andrei_K1G1K]

Granted I have almost 30 years riding experience but to be perfectly honest, my recent purchase of a 2001 Gixxer 1000 was probably my happiest. Best $2000 I've spent. Granted then I put about another 4 grand in suspension and farkles I know I won't get back but it makes me happy and everything is cheap for it. Hunting far and wide for parts makes it even more fun. Through skill I keep up with my riding group of young kids with S1Ks and other liter bikes (with my girl as a passenger). Granted thre are faster guys out there but I'm happy to be in the top 20% of the group at 10% of the price... ;-)

[@LuigiCardito]

Your best video yet!! Thank you so much for this message!!

[@b-reel]

This video is excellent; beyond just riding, the financial responsibility attached to riding

[@BrandonADVdad]

This is an excellent video. This should go viral outside the motorcycle community.

[@ronaldmcdonald9322]

We have great careers at McDonald's to help you make payments on your motorcycle and child support!

[@hopey1809]

da real MVP here. feeding our kids

[@roseroyceGHOST]

Can't I just catch the bus and wear rubbers? LOL

[@TheHiszpanTV]

I started off as the 2nd guy, but turned into Fred when got better jobs and such - I ended up going into an MV Agusta F3 RR(I got 8 bikes previous to that, all on finance within 2 years) and that broke me in the end, I got out of the MV now and I'm trying to recover financially, I would never finance a bike again.

[@Jordan.Arslan97]

I bought my first bike at age 15 A 50cc moped in cash since then I never went in debt for a vehicle, if you want to impress people invest in a personality if you want to ride just ride whatever you can afford is good enough especially if you don't have to live with the shadow of a debt hanging behind you. A good ride is a debt free one. Social media stars spend money to brag because they know without the bragging they're just empty inside.... Do as you please and have fun

[@RedBud315]

Social Media vloggers are just narcissist and probably use YT to write off whatever bike they buy on their taxes as business expenses. However, I don't think they should be making money off of putting the public in danger and whenever I see one of those videos I never hit the like button or subscribe. Unfortunately they already got my click money.

[@DavyHeb]

Yammie your best video yet honestly

[@RepuGoBoing]

Big thank you from me personally, stumbled upon some of your videos roughly a year ago while trying to sleep thought hell.. i wanna try this. its been a year since then now im looking to do my first track day and pickup a second bike. Thank you

[@FastSundayflyer]

Check out the track rules! The closet track to me (2000 miles away) wants $300.00!! Their rules say you have to remove your turn signals, pull fuses, and tape up your head light. I can buy a lot of gas for $300.00! 🙂

[@MiguelGregorioSara]

IMO this is your best video of all time. 👏🏻💯

[@XxKillinBRUHxX]

You can't take money to the grave, but you can take your memories with you, that's right.. go ahead and buy that Panigale V4 SP2 30° Anniversario 916. Life is a highway and you're going to ride it all night long.. on your Panigale V4 SP2 30° Anniversario 916.

[@Audxacity]

Makes me feel better about my decisions only took a loan out on a 2014 fz 09 at 4k, All gear came out my pockets

[@ogasi1798]

Not being an old dick here, speaking truth - i grew up in the 70s and 80s, we were taught to save and buy outright - saving not only frees you from the banking vultures who love you in their pocket but it also allows you to focus in on what you want, if it takes 18mths to save the cash to get what you thought you wanted, you may find out when you have the cash that you don't really want it any more....Lessons are often costly, this one is free 🙂

[@davidbrayshaw3529]

Borrowed money to buy a used car when I was desperate, once. $3k. It took me nine months to pay it off. Borrowed to buy a house. Paid that off 17 years ago. I've never borrowed another cent. People pay me interest. I don't pay them.

[@ImminghamIronhead]

I have a BSA and an old Sportster; unforseen maintenance is a way of life 😊

[@yizhuangliu9233]

Loool! I can attest to Jose. I started exactly the same with sv650 bought at 4000 and 45po month insurance. i love it so much!

[@AstleTruscott]

I try my best not to borrow money from the bank but sometimes a really good deal comes across while I don't have the full amount. But I don't think I will NEVER finance more than 5k on a vehicle.

[@Tight--LiNeZ]

I was going to say SV650 would be the single best choice.

[@Scoot2Bling]

great video Yam, very valuable advice on example for life in general!

[@snappers_antique_firearms]

Proof the ducati v4 is the perfect Beginner bike. He would have saved so much money. But Seriously older sport bikes are where the fun is.

[@RedBud315]

I grew up in a poor family so when I started making decent money in my 20's I bought a new truck and motorcycle over a couple fo year period. I was also club racing my bike on a track and not acting a fool on the street so that was costly. I ended up with a bankruptcy at 24 and from then on no more buying on credit unless I can pay it off immediately or very quickly. Fast forward to 61 years old and I bought an XR150 out the door for about 4K so I put it on my credit car to collect the points and paid it off that month. Used the points to buy mods for the bike.

[@kj385]

Says the guy that said an SV650 was a great 20 year investment 😅

[@ohwell2790]

And when a ridder totals the bike they still own the loan. Used price out the door. I bought a 1956 Pontiac off the $100 line up of cars. The sales man joked and said the warranty was 30 feet and it was down hill out of the lot. And, I am old enough to remember used cars in 1964 could be had for $100. My first car was a 1936 Plymouth coupe i bought for $75 in 1962.

[@nathanofftopic]

Me: "Yammie 100%, sir, great advice." Also me: "That new Hypermotard is telling me Yammie is a moron."😂

[@richardvarnold6245]

Wow, a really good video! A common sense video that younger beginner motorcyclist can learn from.

[@IceBoNeZ]

Buy, sell, trade, eventually you'll get the bikes you want, no ruin.👍🏼

[@apexcobra.official]

Just bought a new Aprilia Tuono V4, which is my 15th bike, and my first new bike at 42 years old. Traded in my XSR900, dealer miraculously offered what I paid for the bike at a different dealer 6k miles ago. Got the Tuono for 15k OTD, could have paid cash for the difference, but Aprilia offered 0.99% APR for 24 months, which is only like $70 in interest over 2 years. I average 30% a year across my investments, so paying 0.99% APR instead of paying the difference in cash will have me coming out around $5,000 ahead after 2 years once the bike is paid off. I ended up paying around the same OTD as I would have for a cheaper Japanese competitor bike such as the GSX-S 1000, or a few thousand less than a MT-10, and strangely the insurance on the Aprilia is $61/mo for full coverage vs the GSX-S and MT-10 was closer to $100/mo. I would have paid over 10x as much interest buying one of those bikes with average interest rates otherwise, even after factoring in the crazy additional service costs of the Aprilia, the 2 year total ownership cost will end up being slightly less than either of those for example. Very happy with my decision, and ended up with basically one of my dream bikes vs a bike that I like but isn't a dream bike(both of those options are awesome bikes but ugly IMO and just not quite on the level of the Tuono overall for what I wanted). I make 6 figures and am fairly responsible financially and budget conscious, so I can afford whatever really, but I'm also trying to retire 20 years early. It's important in our short lives to sustain a balance of being happy and enjoying what you have while you can, but also being somewhat responsible and forward thinking with your finances. Do what works best for you, run the numbers, but also make sure that you're going to be happy and without regrets with the decisions you make. Ride safe and enjoy your lives, everyone. 🏍️🫡

[@anonobot3333]

The unforeseen maintenance issue is real, try not to overpay for your rides

[@GVO_Kurama]

I needed this. Saving up for the mt07 outright

[@marka6327]

I got back into riding. I got a bmw K-75. It’s a sleeper. No maintenance. It does 100 on the interstate all day long. I rode from Louisville to Des Moines in one day. $3000 and it had $500 worth of luggage on it.

[@williamainsworth2256]

I started out with mini bikes, worked my way up to trail bikes, got my first dual sport bike at 21. Rode it until I was 25, then traded it for a used Harley Sportster. Never owed anything, and the my most expensive piece of gear was my helmet.

[@On-Topher]

Easy solution just buy your dream bike first and have it be your only loan

[@stuartblyton75]

Almost nobody in Australia finances a bike. Its a luxury item, you want one, you save up.

[@HashAssett]

Case study 3, start out like Jose, but later down the road get a killer deal and finance your first bike, but since you're old, insurance is ridiculously low, and enjoy the first new bike you've ever had with low interest, low cost payments, and low insurance for a couple years, while still being able to save money.

[@morningsalute03]

All this cool stuff to look cool on Instagram. Always see young kids with brand new bikes. One of the youngins said he bought an sk1 to "build his credit". I almost cried for him.

[@RobertMorgan]

Fun fact, I bought a 2024 Ninja 500 at 8.9% interest, which SHOCKED me, I have 830 FICO, Im 41, employed, no accidents or tickets in decades, my interest should have been 0-3%. So I paid it off in cash after 6 months of it reporting favorably and boosting my FICO even more. The sole reason I financed it was if you pay cash at my dealer, there's a $500 surcharge for not financing. The interest I paid was only $200 so I came out ahead.

[@RobertMorgan]

To add context, I put $4k cash down at purchase (I had $8K cash with me that day), my payment was $90/month when I had one, and full coverage insurance was $230...for the YEAR. I thought it was extremely reasonable, it's less than I pay on my 2010 Expedition lol with liability only. I would have bought used, BUT, every seller jerked me around! I can't do this "lets meet on tuesday 100 miles away at my bank at 11am to release the title" bs, it was easier to just spend 2 hours at the dealer and drive off with my new machine with zero issues on my trailer.

[@Alex-xp5fm]

Love the background Chopin 🤣🤣

[@Airtroops83]

hehehehe I got a 0% interest rate. MX sales flutuate quite a bit over the year. Find the dealers at their weakest, youll take em to the cleaners

[@sanxi34]

I am a mix of both... My first three motorcycles I bought out-right. The first one did not have two pennies to rub together to get good gear, but thankfully I could get some used pieces, except for the helmet which was brand new. The second one I got a short 0-interest 4-month loan that I paid off quicker just because I prioritized paying it off. Second bike was painful because I did also get a partial loan and immediately got stolen and I wasn't properly covered. Now I have proper insurance and my current bike is still also partly financed but; my downpayment meant that the owed amount was 2K€ less than second-hand market value at the time. It was a 0% loan with a 10% commission spread out through the entire loan, but here's the kicker, it's a personal loan. So I can do whatever I want with the bike, and now the market value is 3-4K€ over what I owe. So I could potentially pay it off next month, but I am using the money to pay-off the mortgage quicker and to add up to investments that are yielding 15-20% return. In a year that loan will be done and I'll have over 30K€ in investments only from the years I've been paying off the bike =)

[@nomadOn2Wheels-n2w]

How do you tell you are a dad without saying you are a dad ? Yammie :

[@flyingmerkel6]

I pulled a Fred back in the 80s. Fortunately, I learned fast. A few years ago, I started buying and selling stuff on Craigslist, Ebay, and Facebook. This is my motorcycle money. No motorcycle money comes out of household money. If you buy the right used bike, you can sell it for the same or a little bit more. Made money on my last two bikes.

[@nahuelgareis8927]

Bought my first bike Bajaj Boxer 150 and gear outright, insurance is crazy cheap (13 US) bought tools to mantain it, fixed it twice using youtube. I'm 23 like fred but life is good and savings are stacking 😎

[@MyYouTubeAccount17]

I paid cash for my brand new Ducati Panigale. It was still more expensive to run than I was comfortable with once I moved house and had a dealer I didn't trust to service. I kept it in until the extended warranty expired.

[@bgalhouse]

Preach it! Especially for the young guys, a paid-for bike and good liability only insurance make the sport so much more enjoyable and affordable. It also allows you to live longer and enjoy those track monsters with the wisdom of experience and cheap, old-guy insurance rates.

[@leakingjar6801]

pay outright with cold hard cash do NOT get loan i bought a Ducati 1000 monster for 18k and payed it off over 7 years at 14% interest it ended up costing me 30+k over the time so F that

[@dariorides]

Thank you for making such a wise and unamerican video. So right. Live long and prosper.

[@BobTaylorCruising]

Older fella here... I have pretty good credit, make enough to afford a new bike but the one I bought was a Kawasaki Vulcan S (yeah, dude. The one you thought was awful). I've had it for two years and I try to ride whenever the weather cooperates as I live in Maryland and we have weather, snow and other impediments to riding. Less than $8,000 out the door. I bought using a loan from a Kawasaki program in 2023 at 3.5 % APR with $3000 down. $124 a month. I'm keeping the bike. I love riding it. Mods were a set of crash bars, a wind screen from Puig and a fender eliminator. Looks good and rides good. Reliable and inexpensive. I bought a GoPro but it's to share my rides with family and friends. It's also a pretty terrific general use camera, actually. I take my lunch to work and live in a 4 bedroom townhouse in a town outside Baltimore. Life is full of choices. I almost bought a SV650 and it would also have served. I love my commute in the summer. It's easier to work with that sort of start in the morning.

[@bobbybob3447]

Well, we can definitely agree on everything you said! I harp on this over and over: do NOT finance a motorcycle *unless* it is your sole mode of transportation. Your motorcycle is a recreational vehicle, not a necessary expense. And there are other mistakes on top of that. As you showed in the video, trading in a bike just to avoid dealing with low-ballers and looky-loos is a great way to *lose* hundreds and even a few thousand dollars versus selling it oneself. And NEVER, NEVER, NEVER finance riding gear or insurance. If you can't afford to pay those upfront, then you just can't afford to be riding. Just because someone *wants* to be on a newer, shinier or more powerful bike doesn't mean that they can afford to pay for it and nobody is giving you an award for it, either. Oh, the other riders ALL have nice bikes? So what? Have fun on what you can *afford*. And, I'll bet you some of those riders, as YN described, are financially struggling to afford their bikes and insurance. I know a lot of young riders watch your channel and on Discord, I sincerely hope they are paying attention to this one.

[@HitolapidzTV]

I feel I am hearing myself on the first part of Yammies story buwhahhaha!

[@ashtonevans6488]

This is a video that needs thousands of views because the amount of “creative financing” that has destroyed credit histories is ridiculous

[@LavishlyDriven]

Loving my ‘04 cbr600rr so far (2months). Even more now after reading other examples of financing newer ones.

[@mjwts]

definitely i just picked up a 06 after selling my ‘17 ninja 300 and love it so glad i didn’t go the finance route , it feels good knowing some days i can just wake up & ride and not have to worry abt money or a monthly payment

[@MoonV29]

60k a year? Sign me up! Been working IT professionally for 5 years and only get paid $9K in 3rd world country

[@Duarte6440]

Moral of the story. Dont get a loan for a toy and be lucky.