Go new or stick with old?

[menzies3032]

Hi All

Looking for peoples views and input.

After much saving just about to pay a lump off the mortgage meaning my monthly payments will drop by £100.
Looking to teat myself hence headed towards the Suzuki web site.
They have a rider plan meaning in a nut shell I could be riding a brand new GSXR 600 moto GP liveried bike for £125 per month.
However at the end of 3 years I would need to trade in the bike to of set the remaining cost then choose another shiny new one.

This is my problem!!!!

Currently I enjoy 2 to 5 track days per year as well as my road riding.

If I bin a new bike at a track day I am going to have to repair it back to its former glory. This could mean a £8000 bill, yes I can get track day insurance but this is only going to cover 50% of the bikes value (MCE) or have a £750 excess (Morris) and will cost £350 to buy in the first place.

Here is my question..... Do I bother and just keep my current bike. Today I do track days and don't give it another thought as the bike is worth £2000 and its bought and paid for.....

What do we think people. Keep old and enjoy or go new and risk it???????

[Dailaughing]

Could you keep the old one just for track days and the new one for road use?

Would also allow you to consider a different bike for each use and specialise a bit to suit. Maybe something a bit more "sensible" for the road. No way I am good enough for the track but I have toyed with getting a smaller/lighter bike for the road so I can rag it (there are some nice 300-500cc bikes appearing recently with better economy in all ways) but I'd occasionally like something a bit faster especially for track days if ever.

[graham22]

Probably too late now but if you were thinking of upgrading the bike then the money used to clear part of your mortgage would have been better used on a new bike - or even, say keep £5k to one side for a 2 year old GSXR.

I can't imagine any recent mortgage will have a higher interest rate than the 'cost' of getting a brand new bike on finance.

Otherwise stick with what you have, either £100 per month on upgrades or put towards a newer bike.

[Ruffian]

Keep the k1 and enjoy it and either buy another one for track (same an older k or srad)
As can then ride a bit harder on track as then can enjoy with no worries of having no bike.

Or go and get a k6-k7-k8 as road ones are 3500 kinda price for the road and turn yours into track.

[menzies3032]

All

Thanks for reply s so far. Food for thought.
As much as I would love 2 bikes cant see that one happening (Money and wife)

Main issue is savings go on paying the mortgage so will not be anything else spare.
My current bike I could sell for £2000 to give me the deposit on the new one.
I can then afford the repayments due to the change in mortgage.
But bin it and I am buggered....

I guess if I buy something newer (that I don't have the money to do now) and then bin it on a track day I don't owe anybody anything as it is mine to bin.

[billinom8s]

no point in buying a new bike, too much of a loss.

keep the bike you have and track it, it's the one you have done all your training on and know how to ride. What's the point of doing all that training on one thing only to jump to something completely different.

you like doing trackdays and you do care about the bike.

remove the road fairings, lights etc and sell them, this will cover cost of track fairings etc. for the repayments or excess cash you have you could get a loan for 3-4000 for something nice to have on the road and still not be paying anywhere near £125 pm.

you can get a hell of a lot of bike for 4k nowadays.

keep the 6 and run it like a track whore.

[Dailaughing]

I've only ever once paid more than £2000 for a car (or a bike but that's different) and that time I regretted it almost immediately and still am. I prefer the idea of only losing an affordable amount of money if I do something stupid or meet an uninsured driver. But a car is a necessity and should be about getting there while a bike... Not so sure.

From what i here owning two or even more bikes does not have to cost a fortune. I have no storage so it would not work for me even if I had the money.

[graham22]

Why the urgency to pay off the mortgage?

Whilst I'm looking to clear a chunk off of mine, I wouldn't do it and then get other finance, particulary on a depreciating asset, not to mention the other costs such as servicing & commitment to final value condition/mileage.

Suggest you re-direct the savings for a few months and get a K8/9 model for £3500-£4000, that's only a couple of thousand on top of yours.

[TLS-Moose]

Ive always stuck with the principle of never owing money on a depreciating asset .... If I can't pay cash for it, I don't buy it. Simples.

I'd never suggest to anyone to buy a car or bike on finance.

[scorcher]

these deals are why there is so much shiny new stuff on the roads and it seems to suit a lot of people. Wouldn't suit me as I would of run out of miles in about 3 months! I'm sure some people don't actually realise they never own the bike unless they make that final balloon payment.

You could get a 2014 bike with a handful of miles on it for just over 6000 quid and finance it through a bank loan at 5% apr or less and actually own it and not worry about the mileage.

http://www.autotrader.co.uk/classified/ ... ?logcode=p" onclick="window.open(this.href);return false;

[menzies3032]

Well thank you everybody....

Lots of wise words here!!!

Must be honnest was expecting people to say go for it. I am glad you didn't and gave honnest feedback.

Fair to say my eyes were dazzled by bright shinny new metal and got all impulsive.

The hole point of paying the mortgage off quicker is so I live in the knowledge I don't owe money to anybody so thinking about it this clearly defeats the whole object.

Thanks again.

[mercymercyred]

Life is very short go for the best you can afford, no one really owns anything when you think about it we only rent stuff for a while then we pop off,

[TLS-Moose]

Or, you could have a lot more bike for a notable saving ........ Look at eBay number 181327081661 .......

[CRMotorcycles]

Don't buy a new one. Save the money give it to me and ill work some magic on the gixxer

[billinom8s]

Would that money be to dig a Big hole to put all Suzuki's in ?