Sensitive question.. Yipes.. Sorry!!

[super_marvel]

back to the topic about 2k can maintain a car & bike...

 

Yes, it can!

 

car - an off-peak perodua kelisa

bike - a honda wave

 

all servicings and petrol pump will be done in JB, & JB only.

[Sev]

2k can maintain a bike and car for sure.

 

i'm having a vios for work and xr2 for weekend ride.

all petrol/ servicing in sin.

 

may i know how you derive your conclusion super_marvel?

[Sev]

all i have to say is:

if you have the will, there's the way.

hard work is the only thing you need to fullfill your dream. (plus some luck may be...)

[elephant]

hi,

 

I had a cl 2 bike and car...now just left with the car

but I miss riding and would love to get a 2 wheeler again .

 

TS has to factor in whatever comitments he has, financial and/or otherwise before he can make a decision.

 

For me, I would not and so far have not gotten a bike/car on instalments as it is essentially a depreciating 'asset'. I would rather 'work' the money by investing.

 

I would much rather pay full cash for a vehicle.

 

I dare say, even earning $3k per mth is risky to have a car let alone a combi of both car and bike.

 

PS: I feel its a misnomer to use the word 'investing' when talking abt plonking down $ for vehicles cos I highly doubt you can make a profit from it.

 

But to each his own..

 

safe riding / driving everyone

[Metal Gear]

Honestly, you can have a car and bike if you know your own budget and how to manage it. It's up to you how much you are willing to put aside each month towards your savings. If your spouse is also working, it might help with the payments too.

[BlackDawn]

Yes, you can afford, but every cent you spent on your vehicles is opportunity cost.

[lunloon]

i have a offpeak hyundai avante, Sporty 1200R and Yamaha YP250.

 

My mindset, installment for each cannot be above 500.

 

So what I am paying a month in instalments total to 700, factor in fuel and servicing, comes to about 1k a month. Plus insurance, another 400 a month, leaves me with another half of my take home to use.

 

but have to save and plan further ahead. HD servicing, change parts, not cheap. Car servicing, change parts, lagi not cheap. Further, gonna start graduate studies somemore, additional costs. But luckily have saved enough to reduce the impact of the costs, but of cos, cannot get married and buy flat yet. (Also not very confirmed yet... T_T)

 

So it pays a lot to think far ahead to see what you want.

[head first]

Didn't know that this would be a hot thread... Anyway, thank you for all your pointers. The main point that I guess everyone is talking about is : Budget.

 

Sure, the lure of a Class2 bike is tempting. But the insurance is sky-high. I dun want to post in the Garage Sale a year later when the bike's 'birthday' comes around.. Insurance, road tax, installment, servicing...... :faint:

 

A car is not in my next planning yet. My next box to tick is 'engagement'. Hahaha.. U know la how Malay families are. Both set of parents are hinting to u and ur gf... "Aiyah, so long friends already, go get engaged better right.. "

 

Luckily she's still studying and still yet to go into the working world. Im 23 and she's 20... Soooo....maybe in 2 years time perhaps.

 

Dunno why I'm telling u guys about my life... But i sure can sense a few of u guys out there are smiling and nodding slowly and can relate to my point of life right now.. :D

[elephant]

hi

 

its wonderful to hear u stepping out into the world with a positive mindset..keep it up mate

 

abt vehicles...i would strongly suggest u not take on an instalment on it...they do not appreciate in value generally.

 

personally i feel better on the inside when i know i m not encumbered by any instalments and the vehicle truly belongs to me..besides cars/bikes are not a necessity in sg, its more of a nice to have but not necessary to have thingy.

sg being a tiny island.

 

I feel its better to save first...start slow...once u got the money u can go for the harley

 

have a glorious ride thru life dude

[Sev]

hi, i think i misunderstanding the term'2k' to own a car and bike.

what i meant 2k is the amount of money you spend to maintain a car and a bike per month.

 

if the salary is 2k, it is better not to think about owning a car. really no point spend all your salary for the a transport that drain you dry.

[Sev]

hi,

 

I had a cl 2 bike and car...now just left with the car

but I miss riding and would love to get a 2 wheeler again .

 

 

hi, i also sold my cbr900 and get a xr2.

can't live with the life without a bike. haha...

[DeusExMachina]

A bike is supposed to be a mode of transport, or a weekend toy. It is a machine. It is definitely not, and should never be, a pillar of focus for my life. Maybe it's just me, but I can't imagine living, eating, sh1tting, and talking abt my bike, or bikes all day.

 

Ideally instalments should eat less than 20% of monthly income. Best is less than 12%. After all, still need to pay the other bills, eat, entertainment, pay for household, personal insurance, fuel, general savings, and especially untouchable future savings.

 

And I should NEVER incur ridiculous interest getting a bike that is beyond my league. 5 or 6 year loans are just plain stupid, IMO. If anything happens during the loan period, you're stuck with a negative value liability... If I can't settle for a max 4 year loan, then it's out of reach, period. Currently have a bike on a 2 yr loan. Instalments per month is a bit high, but that's alright 'cos it's only for a short period of time. And also because shared between my GF and myself, it eats less than 10% of combined gross, so it's still good. The other bike has been fully paid for, for a long time already.

 

 

I already learnt the hard way when I started out and wasted cash on my bike. Was running 2 bikes, then itchy backside, bought a 3rd one. Fun, yes. But once sold or gone, the money is burnt, with nothing in return. So, now, anything related to bikes and stuff should be taken out from a "toy fund". Accessories and stuff should never eat into the funds meant for the other aspects of life.

 

 

IMO, if you want to own a CL2 bike with a comfortable instalment, and a comfortable loan period, and still want to live a normal life (to eat normally, go out with friends normally), then you need at least 2.5K gross.

[WildCard]

, anything related to bikes and stuff should be taken out from a "toy fund". Accessories and stuff should never eat into the funds meant for the other aspects of life.

 

 

IMO, if you want to own a CL2 bike with a comfortable instalment, and a comfortable loan period, and still want to live a normal life (to eat normally, go out with friends normally), then you need at least 2.5K gross.

 

He's right on both parts.

 

Anything lower, and major adjustments need to be made. You either will barely be able to maintain it and no options for further accessories (forget about frequent outings with frens) or start to prepare to starve while saving up for 'killer' mods.

 

Its worse when you have a family and own house.

Some financial expenses cannot be sidelined. Expenses / savings for kids comes first.

[elephant]

DeusExMachina has a very valid point...

something i been harping on too.

 

best is dont buy on instalment...save up first, prioritise and then commit if u can.

 

goes for cars and bikes...

 

and with killer fuel prices and gantries all over the place...one has to be prudent.

 

drive / ride safe everyone

[DeusExMachina]

DeusExMachina has a very valid point...

something i been harping on too.

 

best is dont buy on instalment...save up first, prioritise and then commit if u can.

 

goes for cars and bikes...

 

and with killer fuel prices and gantries all over the place...one has to be prudent.

 

drive / ride safe everyone

 

 

Instalments are fine, as long as you don't drag them out.

 

When you want to buy a bike, especially a big bike, you should ideally put at least 30% downpayment.

 

An $18000 and $24000 machine will incur a lot of interest if you do a full loan without DP.

 

Going with the standard 4 years, 4.5% per annum formula, you're paying interest of $810 and $1080 per annum, to $3240 and $4320 in total. These are all INTEREST figures only. And not the value of your bike.

Per month you pay instalments of $442.50 and $590.

 

And if you take 5 and 6 years, it's going to be more painful. Interest alone is $4050/4860 and $5400/$6480 respectively. Monthy instalments are $367.50/$317.50 and $490/$423.33 respectively.

 

 

Yes... some ppl who don't think forward will just grab a 1000cc $24K bike, full loan it for 6 years and pay $423.33 a month on his sub $2K salary and think that, "Cool! I've a CL2 sportbike and I look and feel cool."

 

Maybe he sacrifices his social life and proper eating habits just to upkeep the bike. But what the hell is a sportbike for if you don't use it on the track or bring it out to those show-off parade outings? Bo lui... bo bian, own the bike ride to kopitiam?

 

Then he either hits his 1st year insurance and road tax and discovers that because he's been living on the edge, he also bo lui to settle those things. The bike then ends up on Garage Sales....

 

But because he never put DP... he realizes that of the $30480 (bike + 6yrs interest) total value of the bike, he has only cleared 11 months instalments so far, and is left with $25823 left to pay to the shop. But by then, a 1000cc one year bike market price is only $16000.

 

Power... talk about negative equity.

 

 

So the only way he can drop the bike is to top up $9K in cash and push it back to the shop.

 

Or he can find another young, aspiring but ultimately stupid idiot who also have no $$ for DP to take over the bike as COI, or reloan (must find an even bigger idiot to reloan that kind of bike).

 

But sad to say.... there always be a bigger idiot out there, right?

 

 

So who here still wanna put zero or low downpayment and do 5/6 year loan?

[ongcs]

Lots of life experience shared here...been a great read. So i thot just add my 2 cents

 

Riding/driving/owning + Fully Paid Up = Freedom

 

Riding/driving/owning + Short Term Instalment = Burden

 

Riding/driving/owning + Long Term Instalment = Imprisonment

 

 

Riding can be a need, as many of our friends up north would agreed. But if riding is not a absolute necessity to you, then what you want may be that expression of freedom.

 

Doesn't it just feel great to be riding a fully paid up bike and no worries on running cost?

 

Cheers

[BlackBandit]

Threadstarter,

I'm a late starter on bikes so a bit different on my side.

 

Income

Combined gross = $3400 (Me) + $2000 (wifey)

 

Commitments/Etc

3 kids (2 sec sch, 1 pri)

OPC Hyundai Getz

VFR800 ABS

No reno loans

No credit cards

 

Despite having commitments which are rather on the high side, I still felt comfortable in getting a brand new VFR800 cos I can afford to pay off/fulfill my commitments, factor in operating costs for the bike as well as my car AND save 10% of our combined net income per month inside Save-As-Your-Earn accounts. Huge bulk for bonuses are saved. Main reason is that I lead a frugal lifestyle. Nothing lavish. No clubbing/pubbing. No impulse buys.

 

The simple moral is that your commitments should not exceed your income & you should at least save 10-30% of your net income before you decide on new commitments. If you can meet this, then say hello to that Class 2 bike, dude!

[elephant]

always wanted to get the VFR...understd TP is using it nw

 

 

anyways...with high inflation...its also time to look at investing the cash...cos in the bank....ur money might actually start to love its value..

 

 

[FinG]

it always : ( for cls2 bike )

do u want it or do u need it?

what u want it for?

what u need it for?

can u handle it? ( maint,installment,ETC )

 

then make decision from there.

[rhema83]

Summary for TS: You already have a good bike, anything more is luxury. Save up, pay cash. Don't compromise your life for a luxury.

 

Here is the long version for leisure reading...

 

You should never skimp on other aspects of your life for a luxury. What is your opinion on a girl who spends all her money on designer clothes and purses, but have no money for socialising or good food? Now, how about a guy who spends all his money on his bike, but have no money for socialising or good food?

 

I saw my dream bike in 2004: A GSXR1000K4. Of course, I didn't have enough money. So I set up my own "bike fund" and saved up. I didn't skimp on other aspects of my life to build up the fund, so it took 4 long years before I could even start looking at Garage Sales. But when I finally owned my now 4-year-old dream bike, I could enjoy riding without worrying about monthly installments. Since I didn't compromise on my social life, I had good times with my friends and I will continue to do so. Compared to buying it new and then being financially burdened and socially inactive, I think the wait was well worth it.

 

As for income, I make more than $3000 gross and I feel comfortable owning a literbike with no installments. I think I will be a little uneasy if my K4 was on installment, or if I own another small bike as daily transport. And finally, I don't think I can comfortably afford a car even if I sold my bike and used the money for downpayment.

[dragonforce]

the first day i rode my g4 was the day i was hoping the poor thing doesnt die on me half way. got it cheap since it was in a horrible condition when i got it, but i spent quite a pretty penny getting it usable again. its still a work in progress.

 

a cb400 is more than enough for singapore roads. that little guy can out accelerate any other car that you will normally see on the roads to get out of sticky situations, so performance wise yeah its enough.

 

 

you can already comfortably head up north with your current bike. our folks riding Bajaj Pulsars (180cc bikes!) managed to reach Melacca without major incident.

 

its been two years? i assume that your hire purchase agreement has already been terminated? if you are thinking of selling your s4, id advice against it. if you have a big bike it would be good to have another smaller bike as a fall back bike, just in case your other bike has problems.

 

i suppose you could buy one brand new and rest assured that it will have no problems unless you cause them, but i believe that the satisfaction of reservicing an old bike back would be greater. either way its up to you whether or not you want to get a new bike or not.

 

good luck on your career prospects. study hard!

 

OT: that youtube link is the only video that shows s4 is below 4sec.. many others are not that fast.. and you probably dont know what mods have been done to that bike.. skills of the rider plays a part too..

[actionong]

Big bikes are overrated, especially in Singapore. I started with 50cc bikes, then ridden 600cc, 750cc and liter bikes, honestly for those big bikes, the fun factor starts at 60+ km/hr. But how well you ride, and how much fun you have does not depend on the displacement but how well the bike is set up and how much skills you have.

 

Being passed on the outside of a turn by a little girl on a 250cc bike while you are riding your latest model sport bike is a bit embarrassing.

 

Even if you have an R6, are you gonna track it? otherwise, it's just a waste of the bike and your $. For tooling around Singapore, the best bang for buck is a KTM 400 or DRZ Super Motard of course.

 

You only live once, so don't screw up young and get into financial trouble early. When you are older, more mature and experienced and can comfortably afford a big bike, then do it. it's a lot less stressful that way. Ride safe.

[head first]

Been so long since I checked up on my thread..

 

Got a whole lot of big bros sharing their experiences and advice..

 

Taking it one step at a time though..

Surprising enough to see more and more Class2 bikes on the road. Still remember a few years back when there were loads of KRRs and Waves on the road.. *Sigh* Where did they all go to.. Especially Waves with speakers on their box, booming music loudly.. Hahaha... Fun times.. Ahaha.. Guess they all grown up and now owning a Class2 bike now..

 

Me still happily enough on my trusty Super 4.. To the bro who approached me at Auntie shop, saying my bike looks nice, thanks yeah.. Yup, I did put in a lot of effort on my bike.. But still the lure of a bigger bike looms somewhere at the back of my mind.. Bro DeusExMachina really took pains in explaining the installment part..

 

Dunno if this is out of topic, but there is some silly stuff bothering me..

U guys know that sometimes at traffic lights-especially u bros with big bikes- smaller bikes would purposely stop just slightly behind u, although there is ample space to stop side by side... Why ah? Funny right.. Haha... No need to answer.. Just having some fun here... Hahaha... Thanks guys for all your pointers and sharing your life experiences... Ride safe everyone.

[sfowner]

A bike is supposed to be a mode of transport, or a weekend toy. It is a machine. It is definitely not, and should never be, a pillar of focus for my life. Maybe it's just me, but I can't imagine living, eating, sh1tting, and talking abt my bike, or bikes all day.

 

Ideally instalments should eat less than 20% of monthly income. Best is less than 12%. After all, still need to pay the other bills, eat, entertainment, pay for household, personal insurance, fuel, general savings, and especially untouchable future savings.

 

And I should NEVER incur ridiculous interest getting a bike that is beyond my league. 5 or 6 year loans are just plain stupid, IMO. If anything happens during the loan period, you're stuck with a negative value liability... If I can't settle for a max 4 year loan, then it's out of reach, period. Currently have a bike on a 2 yr loan. Instalments per month is a bit high, but that's alright 'cos it's only for a short period of time. And also because shared between my GF and myself, it eats less than 10% of combined gross, so it's still good. The other bike has been fully paid for, for a long time already.

 

 

I already learnt the hard way when I started out and wasted cash on my bike. Was running 2 bikes, then itchy backside, bought a 3rd one. Fun, yes. But once sold or gone, the money is burnt, with nothing in return. So, now, anything related to bikes and stuff should be taken out from a "toy fund". Accessories and stuff should never eat into the funds meant for the other aspects of life.

 

 

IMO, if you want to own a CL2 bike with a comfortable instalment, and a comfortable loan period, and still want to live a normal life (to eat normally, go out with friends normally), then you need at least 2.5K gross.

 

First class analysis... my sentiments exactly.

[dragonforce]

i noticed the main focus here is always on the installment? but what if some1 can pay up full $$ for a 600cc bike? what wages to be comfortable for maintaing the bike? still some savings at the end of every month.. no commitments..