# I just got financed, should I pull the trigger?



## CrashDummy31 (May 8, 2013)

I just got approved to finance the Specialized Camber 29er.

I'm riding this:









And fell in love with this:









It is $1900 at my LBS. I have weighed the pros and cons on buying a new bike.

Cons: I pay $500 a month for 4 months. But I am working like crazy so it shouldnt make too much of a dent in my savings.

Pros: I get a new bike that is red. FSR. And I can feel confident if I crash it isn't at the fault of the bike.

As for my current bike. Pros: I save $2,000 until the summer of 2014. Cons: I could get hurt again and maybe not be as lucky next time. I keep a bike that has 2 gears and duct tape all over it.

I test rode the Camber and it was like a world of difference. It felt like it was made for me. Even though in bike land 2k is cheap, I have never financed anything or bought anything that expensive at once. My drum kit is worth about that much, but that was upgrading over time.

I would like the oppinions of the bike gurus here if spending 2 grand on a bike is justified.

~kevin~


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## chosos (Apr 20, 2012)

is it 0% interest, or are you paying interest on it? if that 1900 includes interest, wait until you can pay cash for it. borrowing money to buy things you can't afford is never a good practice to get in to and nearly everyone i know who borrowed $ to buy stuff aside from a house or car, regrets it.


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## CrashDummy31 (May 8, 2013)

If I pay it off in under 6 months 0% interest


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## rangeriderdave (Aug 29, 2008)

I don't finance bikes ,and I have spent more than that on bikes. If you can pay 500$ a month on a payment ,you could save that much and have a bike by the end of summer. That's a big upgrade and a nice bike compared to what you are riding. If you ride it and have fun with it it's justified ,in the end only you can decide if you want to spend your money on .


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## CrashDummy31 (May 8, 2013)

I mean I could drop the $2k now and buy it outright, but it would make a huge dent in my savings. Say in August my alternator goes on my car (worst case senario) I'd be scrambling to to get payment. I can handle 500 a month and not have that hurt my savings. And I would be riding all summer. So in that respect it is justified.


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## oKayH (May 25, 2013)

You can "justify" spending assine amounts of money on anything in life. Those bikes out there that cost $5k+ make my eyes big, I could buy a used motorcycle for that price. As far as financing vs buying out right, that is another debate. Some will say pay for your toys in cash, some will say financing isn't bad if you are smart with it. If you can get good terms and the rate is good, I say screw it, go for it, pending all of your other financials are in line. 

Before you buy, just make sure you will actually ride it and it won't end up on Craigslist in a year or two with that "I just don't ride enough" description....

Life is short and you can't take any money or material possessions with you. YOLO responsibly.


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## DennisF (Nov 4, 2011)

I feel for you. I rode a crap bikes for three years then upgraded to something in the $2000 ballpark. If you are into the sport, it is a worthwhile expenditure IMO. Take care of it and it will last for years and years.

Borrow money to buy a bike, no way would I recommend that to anyone. But if you have the money in savings and can get free interest and are disciplined, why not? We are big credit card users, just make sure to pay them off in full every month.

DON'T miss a payment or be late with a payment. Read the fine print -- probably if you are late for a payment the whole interest charge is added.

I would feel better if you had another grand or so in savings. Is a bum alternator really the worst-case scenario? (an easy DIY repair BTW). What if the engine blows? What if you wreck it, do you have collision insurance or would you be looking at a new car? Home expenses? Refrigerator quits? Death or illness in the family and need to travel? (Sorry to be so morose, but it happens sorry to say).

Plus it's a good life policy to live below your means and save something every month barring emergencies.

I gather this is the '13 model? Check when the '14s are nearing release and maybe work a deal on the '13.

Anyway, all the best!


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## SAthirtythree (May 22, 2013)

If you already have the money to pay for it outright, than you probably won't have any trouble making payments. And if you'll have it payed off before interest kicks in, you'll be building credit for free. It's a no brainer.


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## CrashDummy31 (May 8, 2013)

I am extremely diciplined when it comes to $$ I would never miss a payment. The only credit card I own is a Macey's card (I wanted to buy a suit jacket and I saved 20% when I signed up for the card lol) my actual card is a debit/credit. I dont like doing loan type stuff, but It is loan or no bike. Wost case senario is I am dropped from my car insurance. Dont have the best track record when it comes to driving. I live at home and my dad is already dead. I have never missed a payment on my student loans anyway. I have a savings account that is for everything. Wants, needs, emergencies, etc. It is a 2k13 model. I dont know when the 14's r coming out. I'd rather not ever do any loan/installment pay.

I am just wondering if I am playing roulette w/ the bike I have now. Paying $500 a month for 4 months is definitly worth it vs getting injured and not being able to work. I already almost lost 3 teeth cause I went into a tree stump because I lost traction and my back breaks went out.


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## oKayH (May 25, 2013)

Alternative: Used.

My MTB was $1750 new. I paid $600 and got extras/upgrades out of it. Little use. In my area, people make too much money, buy high end things brand new, never use them, then list them on Craigslist at deep discount. 

Your accident sounds crappy. I know you aren't riding one of those high end, carbon ti-fiber 2oz bikes, but are you sure it is the bike and not the operator? I haven't been MTB long at all, but I've crashed enough motorcycles to know that I can rarely blame the bike 

0% for 6 months? I'd probably take that deal though.


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## CrashDummy31 (May 8, 2013)

The accident was half mine half bike. I was riding in mud and rain= my fault. Breaks going out= bike's fault. As far as going used. I would love to, but I am short and it is hard to find stuff my size. I need a small bike frame. I have the same issue w/ hockey stuff. I have been looking around used for new goalie pads for 2 yrs. Cant find any in my size I like. In rochester. Craiglist is offering walmart bikes or old hardtails.


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## theMeat (Jan 5, 2010)

Wow, that's alota personal information, maybe tmi
If you can make your own decisions you're an adult, or is that the other way around?
Personally, I wouldn't finance a bike. You can always make your best deal with cash in hand. I'd sooner get an awesome used bike for a fraction of that, save and get the other if you still want and have 2. 
It's always better to "fill the stable" than to "pull the trigger" when it comes to bicycles i always say.


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## oKayH (May 25, 2013)

Yea, not sure about your area, CL is highly dependent on the area. I am tall and it took me a good 6 months to find something worthwhile used. Again, you could just slow down a bit and chalk it up to learning to read conditions better?



And it is brake. Sorry, just a pet peeve.


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## dirt farmer (Mar 28, 2005)

I say, go for it!


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## StuntmanMike (Jul 2, 2012)

I f you can afford to pay the 500 a month for it, and not have to pay interest, I say go for it. Why wait for it and not be able to ride all summer?

I hear you about not wanting to take that big a chunk out of savings. I'm pretty much the same way, when it comes down to taking that lump sum out, or making payments on something, I'll go the payment route as long as it's interest free and I know I can afford it.

I did pretty much the same thing you're thinking of doing when I bought my Ridley, except I used a new AmEx card offer I got. 0% for 15months and 30,000 bonus air miles. That basically equates to a free flight. 

The people that say save up and pay cash have a valid point, however my philosophy is to enjoy life now (within reason). If I can save up the cash in 6 months, or make all the payments in the same time, why deprive myself of it for that time? 

Just be careful not to miss a payment, the interests is always retroactive and I'm sure the rate is astronomical through them.


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## DennisF (Nov 4, 2011)

> Paying $500 a month for 4 months is definitly worth it vs getting injured and not being able to work.


Good point. $2k won't buy much medical care either.

Personally, I think the dangers of cheap bikes are overrated. The better bike would be safer if you rode it the same way, but you're not going to. The new bike will be so much better you're going to push it all that much harder. I've had two significant injuries in the 18 months since I got me new bike, 0 with the Roadmaster and Schwinn in 3 years. Ok, I'm riding a lot more now and I'm admittedly an old guy who bit off more than he can chew 

Anyway, it looks like you've thought everything thru well. Sleep on it a few days, and if you still feel good about your decision, go for it!


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## GelatiCruiser (Oct 11, 2012)

If you wreck and get effed up, how much will your medical bills be? I think that might be worth the $500 a month, especially if you can afford it. It's also a way to build your credit... Which you'll need down the road. It's a want and a need that won't impact you too much in the wallet. I say go for it. And enjoy.


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## eb1888 (Jan 27, 2012)

Look on Car-Part.com for an alternator. $75 is usual and put it in yourself.
You can afford a bike so don't get sucked in to this one bike by an offer you don't even need.
Here's a review of the carbon version.
Specialized Camber Comp Carbon 29 Review - BikeRadar

You can and should be looking for the best bike for your money. Ride more bikes.


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## J3SSEB (Jun 1, 2009)

You only live once.


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## shwinn8 (Feb 25, 2006)

work your azz off then buy it. don't take out a loan on a bike. although, if you do pay it off quick that will be a good building block towards building credit. personally, i scrubbed over 3000 plates, pots and pans and mowed lots of lawns to earn the $2400's for the bike I wanted in 1999 ( schwinn 4 banger). so you could go either way i guess. I'm old enough now to know to buy things in cash


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## FirefighterMTN (Feb 6, 2012)

My $0.02


A few years ago, I was able to afford road bikes for me and my wife, but opted for the in-house financing because I could make big payments........

Housing bubble burst and I stopped making money almost over night and that original $2500 turned into $4500.

I'm sure this won't happen to you, but my philosophy is that if you have the want and the money, pay cash and be done with it!! Life can change quick!!!!


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## CrashDummy31 (May 8, 2013)

I have read a bunch of reviews for the Camber and it sounds like a good bike.I have also read the review already that was stated above. The Comp carbon is waaaaay out of my price range. I have ridden 2 other bikes in my range. One name I dont remember, but it was ok. And a GT Sensor 4.0 It was ok as well, not the right size and it was 1 2012, so they couldnt order a small. There was also a Cannondale in my range, but not in my size.I would go w/ a hardtail because they r cheaper, but I have back issues, so i need an FSR. And also, I YOLO and carpe diem within reason.

Building credit is also a good pt. Thanks GelatiCruiser


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## lazarus2405 (Jul 16, 2011)

A better question here is, is that bike the right choice for you? Why did you pick it, and what other bikes have you tried? Coming from your current bike, anything in the $2k price range is going to feel like a million bucks. You have a lot of options, though, and you would do well to explore them first. 

Where are you riding, specifically? (A fellow Rochesterian here). Dryer Road, Tryon, Bay West, Ontario County Park, Whiting Road, Pinnacle, city parks, etc? Help us get an idea of what you're doing, what you like, and what sort of riding you want to be doing a year from now.

Second, Rochester has lots of bike shops. You shouldn't limit yourself to one shop or one brand when you're making this sort of decision. Is there a specific reason you're interested in Spesh? You could get a Trek Fuel EX 5 or a Cannondale RZ120 with better components for the same price.

Why are you looking at a 29er, specifically? If you need a small frame and you're riding in Rochester, big wheels might be a bad idea. A lot of our trails are narrow and twisty. 29ers are harder to maneuver in tight spaces, especially for smaller riders. Especially in your price range, the bigger wheels are going to be heavier (harder to accelerate) and weaker than 26" wheels.

Edit: And when you say you test rode the bikes, you mean in the parking lot, right? Did you get the opportunity to take any of them into the woods?


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## StuntmanMike (Jul 2, 2012)

Building credit is a great point. Paying cash for everything does nothing for your credit. I've financed plenty of things over the years, and normally have a small CC balance, but being responsible & always paying on time has left me with a credit score over 800.


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## AZ (Apr 14, 2009)

Pay cash for toys. Always.


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## shwinn8 (Feb 25, 2006)

my apologies, my 1st question should have been how old are you 'Dummy? (no pun intended)


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## Harold (Dec 23, 2003)

yolo is bullshit. You live every day. You only die once.

My take: credit is overrated. If you can pay cash, pay cash. As was previously mentioned, life can change quickly. VERY quickly. Taking big payments for a few months is taking a big gamble. Agreed that you had problems with the current bike because you pushed yourself too much. In that case you pushed beyond the capabilities of your bike. On a new bike you are most likely to push beyond your own limits but the bike still has its own limits that can be surpassed.

Something happens while you are still making those big payments and you are in trouble. About all I will do is put down a deposit to order a bike and then pay the rest off when I take it home.

Home and car, I will finance but I'd rather not. Other than that, I am stingy with my credit.


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## eb1888 (Jan 27, 2012)

$1900 on 0% credit. How much for cash. My Spec dealer runs 20% off deals on in stock stuff a few times a year. You should be able to get 200 off for cash. That's only 10% off.


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## shwinn8 (Feb 25, 2006)

Face: It is hard to finance a car let a lone a home with little to no credit history and with bad credit. It could be the difference between paying very little extra or a whole lot of times more the base price of the investment. 

True, regardless to someones religious preference you only live once. The question is, do you want to make life easier or harder for yourself? Me, I pissed my life away blowing $$ on cars for the past 10 years. Although it's been fun coupled with a major headache of some simple math, When I retire in 8 years, had I saved my money I could have had over a quarter of a million dollars in my bank account... oops, but you have to live right? A 2k$ loan isn't that much as long as you can pay if off quick and still live within your means. No debt is bad, some is good, too much is bad  . It takes patients and discipline. But you still have to live... $250,000+, over a quarter of a million dollars pissed away...... There are still 60+yearold guys out on bikes ripping up the trails, I would like to be one of those guys, not working my ass off till I die. The future is scary no doubt! but you have to set yourself up for success because no one else will do it for you.


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## Berkley (May 21, 2007)

Haven't seen this mentioned yet: make SURE you make the payments, otherwise the zero percent interest becomes 30% interest or higher.


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## shwinn8 (Feb 25, 2006)

if the bill is due on the 10th, pay it on the 5th. Just because you pay it on the 10th doesn't mean the computer will get updated to reflect it. I almost got screwed on a late payment once because of that


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## CrashDummy31 (May 8, 2013)

lazarus2405 said:


> A better question here is, is that bike the right choice for you? Why did you pick it, and what other bikes have you tried? Coming from your current bike, anything in the $2k price range is going to feel like a million bucks. You have a lot of options, though, and you would do well to explore them first.
> 
> Where are you riding, specifically? (A fellow Rochesterian here). Dryer Road, Tryon, Bay West, Ontario County Park, Whiting Road, Pinnacle, city parks, etc? Help us get an idea of what you're doing, what you like, and what sort of riding you want to be doing a year from now.
> 
> ...


I've done Tryon, Hamlin Hojack, Somewhere in Webster, and I few others I cant remember. I'm planning to do Bay West and Ontario this summer. Possibly Swain next summer. In roc I've checked out park ave, bike zone, and burts bikes.

I have no brand loyalty to Specialized or to 29's. That just felt the best. And yes I was test riding in parking lots, but jumping over speed bumps and curbs.

In a year from now I would like to try Swain and make a full run through Tryon w/o ending up on my face again.


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## Jamesm925 (Apr 17, 2013)

hell yes go for it! you're riding a bike-like-object at the moment. the specialized will change your life and riding addiction for the better. $1900 is nothing...


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## JBjunior (May 25, 2013)

Regardless of what is said here you have already made up your mind. Unless you convince yourself that it isn't the best idea in the next few days you are already financing this bike.


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## JoePAz (May 7, 2012)

CrashDummy31 said:


> I just got approved to finance the Specialized Camber 29er.
> ..
> It is $1900 at my LBS. I have weighed the pros and cons on buying a new bike.
> 
> ...


Financing a bike? What has this world come to.:madman:

If you don't have the money don't buy it. If you want a better bike you have two options. 1) save the money. 2) buy a cheaper used bike. $500 to $1000 on the used market will get you alot of bike.

As for crashing... Don't ride over your head. On any bike.


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## JoePAz (May 7, 2012)

CrashDummy31 said:


> The accident was half mine half bike. I was riding in mud and rain= my fault. Breaks going out= bike's fault. ..


The brakes going out is your fault. Your fault for not maintain the bike. Don't blame the bike for lack of proper maintenance and up keep. Even an expensive bike needs to be maintained. The bike is what it is and you need to learn to ride within its capabilities and within your as well.


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## neacail (May 18, 2013)

I haven't read the entire thread in depth. I've skimmed through most of the posts. I don't think this has been addressed, but it is important (please forgive me if this is redundant).

In the event something happens, and you don't have the bike paid off in six months, what is the interest rate? Also, on most of these deals that offer 0 interest if something is paid off in a set amount of time, if the item isn't paid off in that set amount of time the interest is calculated from the date the loan was taken.

Typically, interest rates for these types of loans are around 30% (in Canada) per annum. If the loan was for (let's say) $2000, and you were one day late in paying off the bike within six months, you would have to pay $300 in interest.

Without reading all of the paperwork I can't say if that is the case here or not, but be sure to read all of the paperwork carefully. Ask questions about anything you don't understand or require further clarification on.


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## moefosho (Apr 30, 2013)

JoePAz said:


> Financing a bike? What has this world come to.:madman:
> 
> If you don't have the money don't buy it. If you want a better bike you have two options. 1) save the money. 2) buy a cheaper used bike. $500 to $1000 on the used market will get you alot of bike.


This is what I was thinking. You might be able to pick up a bike for $500 that you can ride, be safe on, improve on, and completely enjoy. Then when you have the money saved up, you can go buy the bike of your dreams and sell the old one for probably what you bought it for.



JoePAz said:


> As for crashing... Don't ride over your head. On any bike.


Don't ride over your head? If you are not challenging yourself how are you going to improve?


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## StuntmanMike (Jul 2, 2012)

Don't ride over your head so you won't crash?? 

Last time I rode I went down because I spun out on a wet root. Does that mean I was riding over my head? No. Sh!t happens. Falling/crashing is part of the sport. If you aren't doing either, you need to find some tougher trails. 

And if you don't have the cash you can't afford it....then how do people buy houses and cars?

And its not like he doesn't have the cash. He said its in the bank. To me, shelling out 4 bills a month for a payment stings less than taking the lump sum out of the bank. Once I put it in I hate taking it out.

As long as no interest is paid, IMO there's nothing wrong with taking advantage of offers like this.


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## GelatiCruiser (Oct 11, 2012)

What about buying the bike outright and putting the $500/mo into your savings account?


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## bigkat273 (Jan 16, 2008)

Why not just split the difference and pay half cash and finance half... Lower balance will be easier to pay off (good for credit as well) and you'll still have some buffer in your savings. If it was nearly winter I would say just save but you have the whole season ahead of you. 

Sent from my DROID RAZR HD using Tapatalk 2


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## theMeat (Jan 5, 2010)

^ Buying a house or car is different, and alot more money. Plus when you factor in the worth of that $ today and what you could do with it because you'd have it to use as compared to what it'll be in 20-30 years when you're still paying, it makes it even more worth it. Throw in tax breaks, and a couple of refies in times of need, or when the interest rates are low, like now, and it's a no brainer. 
Financing a bike over 4 months, when you have the cash and can get a better bottom line by using it is foolish. There's better ways to build credit, and you can buy many other bikes and have just as much fun so if you're looking for an excuse to justify keep looking.


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## StuntmanMike (Jul 2, 2012)

Well if you can get a better price by using cash, by all means do that and just pay yourself back later.

Maybe your experience will be different than mine...when I bought my Ridley a cash offer made no difference on the price.


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## JoePAz (May 7, 2012)

StuntmanMike said:


> Don't ride over your head so you won't crash??
> 
> Last time I rode I went down because I spun out on a wet root. Does that mean I was riding over my head? No. Sh!t happens. Falling/crashing is part of the sport. If you aren't doing either, you need to find some tougher trails. ...


Riding over your head is a great way to crash. Some times it just a little dust and dirt. Sometimes it is a real injury. I don't crash much, but it can happen anywhere at any time. Most of the time when I try something hard I will land on my feet. Even with clipless pedals. However yesterday I had real crash. It was totally a result of my error. I was going fast in rocky section half mile form the end of my ride and I just made a mistake. I was fatigued and show have backed off given the fatigue, but I did not. I caught a rock wrong and that tossed me off line and into some more rocks and I wend down. Got few scrapes and banged my knee. Nothing serious, but it happened because I was pushing too hard given my fatigue level. I have never crashed there before and probaby won't again, but I knew I was tired and when that happens I can loose a little focus. Do that and it can easily end up in crash.

You can also crash by riding way above you skill level. It is fine to push the boundaries, but go to far and it will not end well. Just because you buddy can do something does not mean you can just yet. Crashes can be avoided by pushing up on the limits slowly. The alternative is just to go all out and end up with alot more bumps, bruises and broken bones as well as broken bike parts. MTB riding is not about crashing and getting hurt. It is about riding and testing your fitness and skills.


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## Parts guy (May 22, 2013)

You already figured thr monthly payment you can afford and that is a good chunk of change that you stated. As bigkat273 stated do 50/50 cash and finance. If you want ot go get it. Good luck on the new ride.


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## bob13bob (Jun 22, 2009)

If you are financing a bike, why get a $2000 bike? Dont do it. You can buy a 1-2year old used model for half that. Its not the bike, its the rider. Don't finance toys. You shouldn't even have applied tbh. A hard credit pull for a bike is sucky


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## provin1327 (Mar 31, 2013)

How long have you been riding? That seems like a huge jump from what you are currently riding. If you haven't been riding that long, why not buy something less than half that price that is a bit more your level? Unless you have been riding forever and can use that beast, then save your money and pay cash.


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## LB412 (Nov 28, 2012)

Don't lose a summer because you were afraid of a loan... Buy the bike.

Plus using some credit actually improves your credit score.


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## CrashDummy31 (May 8, 2013)

I am 24. I have been thinking about it. Financing = bad. So it is either 2k outright or nothing. I have been riding for about a year and a half. So I am a beginner. I am choosing that expensive of a bike because of my back. Hardtails are awesome and cheaper, but because of my back I can't ride one of those. Also I have no issues w/ going used, but I need a small frame bike and I have been checking ebay and craigslist and those seem difficult to find. 

And I'm not one of those guys who upgrades because the new model came out. I want to get a good nice bike and have it for a long time. 

Also some of the comments above are a bit harsh. All I did was ask a question. I dont know the trail terrain around rochester. I just kinda pick one and see if I can ride it. Every crash I have I say is a learning experience, did I have my pedals vert instead of horiz, did I not shift my weight correctly, etc. So that is the way I look at it.


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## bob13bob (Jun 22, 2009)

> Plus using some credit actually improves your credit score.


if you are thinking of financing a bike, you shouldn't be doing it. It's a rapidly depreciating asset, not an investment like an education or home.
Instead, you should use your credit cards and pay them in full every month etc. You shouldn't even be doing a hard credit pull (lowers your credit) for an $2000 item...

Guys, don't claim something you don't understand. Hate to be a dick, but a lot people get hurt bad by credit. check out he fatwallet finance or credit forums for info.


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## jamesh75 (Feb 4, 2011)

I'll agree with many others that financing a bike is not a good idea. Save up some cash and buy a bike you can afford. If you really want the bike, you'll be able to save for it. It's really easy to get yourself in debt financing toys...I've been there.


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## smallwine (Feb 18, 2008)

> And I'm not one of those guys who upgrades because the new model came out. I want to get a good nice bike and have it for a long time.


Good luck with that! Bike envy sucks.

All kidding aside, I went from a Giant hardtail ($500) to a Superlight ($1800) and my skills vastly improved. You'll probably notice the same thing. If you want to keep this bike for a long time, maintenance maintenance maintenance. Learn to do some simple things; saves money and helps components last a bit longer. Eventually I topped out the Superlight and dropped over $4k on a Pivot. Evolution of a mtb'er I guess.

As far as financing, don't do it. I saved for over two years in order to buy my Pivot. Felt great knowing that b!tch was mine!


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## LB412 (Nov 28, 2012)

Any impact either positive or negative will be negligible as long as its paid off in the 4-6 month timeframe... However based on where he lives the riding season comes to an abrupt stop with the first snow/cold. I weigh the cost of credit vs a missed riding season. It's an easy answer in my book... Buy the bike now.


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## GOTA (Apr 21, 2011)

If it's interest free and you are going to spend the money you save anyway then you might as well do it. Just make sure you pay it off during the interest free period. I've done that with my bike, TV and even minivan. The key is to divide the amount by the months and set up and automatic payment. 

Borrowing money for free is fine as long as you follow the rules and it's really free. If you have any doubt about your ability to pay it off in the time frame then you don't do it.


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## bikeabuser (Aug 12, 2012)

CrashDummy31 said:


> If I pay it off in under 6 months 0% interest


$hit happens ... Save your money and buy it when you can lay all the green down at once.


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## CrashDummy31 (May 8, 2013)

Thanks all. I have been looking around for used as well. I am 5'4" maybe 140lbs w/ gear. So I need a small frame bike. Which seems like it is hard to find. I have the same issue w/ clothes and goalie stuff. There are a few I have found, but they do local pickup only and live in CA. I've thought of doing a 50/50. 1k down and 500 in july and 500 in august. Also I have looked around in dif cities for a better price on the camber. Most dont even cary it. Also what scares me about going used; is that I cant ride it before I buy it.


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## bikeabuser (Aug 12, 2012)

CrashDummy31 said:


> I am extremely diciplined when it comes to $$ I would never miss a payment. The only credit card I own is a Macey's card (I wanted to buy a suit jacket and I saved 20% when I signed up for the card lol) my actual card is a debit/credit. I dont like doing loan type stuff, but It is loan or no bike. Wost case senario is I am dropped from my car insurance. Dont have the best track record when it comes to driving. I live at home and my dad is already dead. I have never missed a payment on my student loans anyway. I have a savings account that is for everything. Wants, needs, emergencies, etc. It is a 2k13 model. I dont know when the 14's r coming out. I'd rather not ever do any loan/installment pay.
> 
> I am just wondering if I am playing roulette w/ the bike I have now. Paying $500 a month for 4 months is definitly worth it vs getting injured and not being able to work. I already almost lost 3 teeth cause I went into a tree stump because I lost traction and my back breaks went out.


Don't forget getting injured/layed-off/arrested/sued/etcetera, when running the numbers.

Yea, you're playing Russian Roulette, but you're also looking at playing the same game to buy a bike ... You're just letting emotions get in the way of seeing the game for what it is 

Is it your ONLY form of transportation ?
Does it get you to work ?

WILL YOU DIE WITHOUT WAITING 4 months ?


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## bob13bob (Jun 22, 2009)

> Borrowing money for free is fine as long as you follow the rules and it's really free. If you have any doubt about your ability to pay it off in the time frame then you don't do it.


it's never free. hard credit pulls hurt. fees hurt ie origination. Not being able to negotiate for better price because your are financing through them hurts = sticker price.


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## bikeabuser (Aug 12, 2012)

FirefighterMTN said:


> My $0.02
> 
> A few years ago, I was able to afford road bikes for me and my wife, but opted for the in-house financing because I could make big payments........
> 
> ...


BINGO !!!
*OP, you listening ?*


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## CrashDummy31 (May 8, 2013)

With my current bike I may get hurt bad. And I have a car, so that is how i get to work. My bike now is a NETX Power climber w/ 3 sorta working gears, bent frame (fixed w/ duct tape and a deck bolt) broken brake (fixed w/ duct tape) and bent handlebars.

I just found an 2012 specialized SX small for 1300. So I am still looking


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## tigris99 (Aug 26, 2012)

If u wanna make payments then do what i did. Layaway basically. My lbs was fine with making payments then I picked the bike up when I paid it off. No interest, no killing savings and bike was held in the back so I knew I had my exact bike when i got there.

Sent from my HTC Sensation Z710e using Tapatalk 2


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## bloodyknee (Jul 29, 2008)

How many times a week are you riding now? How many years have you been riding? I ask this because if you are riding a lot right now, and you can get this bike at 0% interest and can really pay it off before the interest kicks in, then I say go for it. Life is short and bike are great. 

If you're not riding that much, and just go for an occasional ride every few weeks, save your money.


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## LB412 (Nov 28, 2012)

bob13bob said:


> it's never free. hard credit pulls hurt. fees hurt ie origination. Not being able to negotiate for better price because your are financing through them hurts = sticker price.


Hard pull has been done... No going back


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## donthucktoflat (Apr 23, 2013)

bloodyknee said:


> Life is short and bike are great.


/thread


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## CrashDummy31 (May 8, 2013)

This summer. Every day I dont have to work I will be riding. So 3 outa 5 days/week and this is my 2nd year doing it seriously


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## oKayH (May 25, 2013)

moefosho said:


> Don't ride over your head? If you are not challenging yourself how are you going to improve?


Ride just below your limit so you can actually comprehend what is going on and react. Go to your limits and your senses will be saturated.



LB412 said:


> Don't lose a summer because you were afraid of a loan... Buy the bike.
> 
> Plus using some credit actually improves your credit score.


+1!



CrashDummy31 said:


> I am 24. I have been thinking about it. Financing = bad. So it is either 2k outright or nothing. I have been riding for about a year and a half. So I am a beginner. I am choosing that expensive of a bike because of my back. Hardtails are awesome and cheaper, but because of my back I can't ride one of those. Also I have no issues w/ going used, but I need a small frame bike and I have been checking ebay and craigslist and those seem difficult to find.
> 
> And I'm not one of those guys who upgrades because the new model came out. I want to get a good nice bike and have it for a long time.
> 
> Also some of the comments above are a bit harsh. All I did was ask a question. I dont know the trail terrain around rochester. I just kinda pick one and see if I can ride it. Every crash I have I say is a learning experience, did I have my pedals vert instead of horiz, did I not shift my weight correctly, etc. So that is the way I look at it.


I am 23 and my credit score is classified as excellent. Why? Because I haven't been afraid to finance/use my credit cards...responsibly. Just be smart with what you finance. The horror stories you hear are the people that made good money and wanted to have it all, all at once. The average is people that just can't hold themselves back from using plastic or accepting good terms on a loan of some sort.

You could always use Suzy Orman's show to make your decision....


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## bikeabuser (Aug 12, 2012)

CrashDummy31 said:


> This summer. Every day I dont have to work I will be riding. So 3 outa 5 days/week *and this is my 2nd year doing it seriously*


Then ask yourself how much money you're gonna make via this, could become a big chunk of change if interest kicks in, bike.

Be honest !
You know ANYTHING can happen, and then where will you be ?

If I were in your shoes, I'd be looking at school loans, if you're not already racking up that kind of bill.

Buy used, buy new ... But pay cash.


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## bikeabuser (Aug 12, 2012)

oKayH said:


> Ride just below your limit so you can actually comprehend what is going on and react. Go to your limits and your senses will be saturated.
> 
> +1!
> 
> ...


She does offer some great advise ... And I can guarantee you she'd think you're nuts to be taking out a loan on a luxury item.

If you can't make money with it/becaue of it ... It's a luxury item !!!
Plain and simple.


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## oKayH (May 25, 2013)

bikeabuser said:


> She does offer some great advise ... And I can guarantee you she'd think you're nuts to be taking out a loan on a luxury item.
> 
> If you can't make money with it/becaue of it ... It's a luxury item !!!
> Plain and simple.


I agree with you.

And there are also other bikes out there for a lot less that could be had for cash or simply less financed....

I will say that I find her advice to be ultra conservative. Then again, in a society that disregards moderation, it's probably for the best.


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## riotactor10 (Aug 26, 2012)

tigris99 said:


> If u wanna make payments then do what i did. Layaway basically. My lbs was fine with making payments then I picked the bike up when I paid it off. No interest, no killing savings and bike was held in the back so I knew I had my exact bike when i got there.
> 
> Sent from my HTC Sensation Z710e using Tapatalk 2


I second this...this seems like a safe way to lock in your business with the LBS, get your bike when you have the cash, and avoid the bottom dropping out.

I've used credit for a lot of dumb things, and realized it's better to buy something and own it....you don't want to ride around on some credit card companies bike..


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## bikeabuser (Aug 12, 2012)

*Another thought for the OP........................*

Put $1000-1500 into a 401k, forget it is there, don't even add to it, unless you want to, and thank me in about 40 years.

Buy a used bike, and get a better one later.


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## bob13bob (Jun 22, 2009)

Buy the one year old version of the bike used on eBay. Save $1200.


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## eb1888 (Jan 27, 2012)

Identifying risk factors is important. But that is only a part of your job. Stop at the anything is "possible" point and no one can do anything.
Take the next step from possible to probable. An honest and logical fact based evaluation of risk can lead to a good decision.


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## johnnathan350 (Jun 4, 2013)

I say, go for it!


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## johnnathan350 (Jun 4, 2013)

Borrowing money for free is fine as long as you follow the rules and it's really free. If you have any doubt about your ability to pay it off in the time frame then you don't do it.


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## getagrip (Mar 26, 2008)

How about making a compromise and ordering online? Here is a full suspension Jamis Dakar you can pick up for under $1200, and it comes in a 15". That way you can buy it outright, and have about $800 left over for emergencies.

Jamis Dakar XC Comp Mountain Bike 2012 > Complete Bikes | Jenson USA Online Bike Shop


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## bob13bob (Jun 22, 2009)

You're going to be making payments on something that'll be worth $900 in 1-2 years.

Specialized Camber Elite 2011 Medium | eBay


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## GelatiCruiser (Oct 11, 2012)

I would guess a bike drops 40% of its value when it leaves the store. With that said, I would still pay what I did for my bike and not have any heartburn... I have gotten more enjoyment out of it than it cost me and it's only six months old.


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## LB412 (Nov 28, 2012)

T


bob13bob said:


> You're going to be making payments on something that'll be worth $900 in 1-2 years.
> 
> Specialized Camber Elite 2011 Medium | eBay


Pretty solid option


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## smallwine (Feb 18, 2008)

^what he said


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## wmac (Sep 29, 2010)

Sell your drums if it that important to you. You are a college kid living at home contemplating a $2,000 toy.


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## LB412 (Nov 28, 2012)

Exactly! Buy it now. Once you have a wife or family you will find it more difficult to buy "toys".


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## bikeabuser (Aug 12, 2012)

wmac said:


> Sell your drums if it that important to you. You are *a college kid living at home contemplating a $2,000 toy*.


Yea, *a freak'n toy ... Invest in a 401k*, or be stupid :devil:

The advice won't get more solid.

Feed your ego, or feed your future ... The choice will determine how smart you actually are.
Ask your Professors how you should INVEST IN YOUR FUTURE 

P.S.
The freak'n commercials on this forum SUCK ... Damn Video commercials will be the undoing of this place.

FO MTBR Advertising I don't give a damn about Madrid/Lysol, or any of the other crap you're getting paid to push


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## GelatiCruiser (Oct 11, 2012)

Don't forget to only "invest" (401k, deferred comp, Roth, etc...) when you are out of debt. But... You're young. Get the bike, finance half and enjoy your summer. Invest in the fall.


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## Bryan1113 (Feb 21, 2013)

hell yeah


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## Bryan1113 (Feb 21, 2013)

People spend way more on motorcycles and boats and never use them. Just picked up Trek Fuel Ex 8 29er and that will get ridden at least 4 days a week. Happy Trails


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## bikeabuser (Aug 12, 2012)

GelatiCruiser said:


> Don't forget to only "invest" (401k, deferred comp, Roth, etc...) when you are out of debt. But... You're young. Get the bike, finance half and enjoy your summer. Invest in the fall.


Being young has nothing to do with being financially stupid, but being smart at the OP's age means not working their entire life, toward retirement.

If you really understood what $1000 in a 401k at age 25 could do, you'd not wait, or suggest waiting, and you also wouldn't be justifying financial stupidity to someone else.

Wait another 5 years, and you can toss the maximum allowed, every year until retirement, and you'll not amass what $1000 (one installment) will do for a 25 year old.


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## jamesh75 (Feb 4, 2011)

Agree, the earlier you can start investing in retirement the better. I waited too long, and wish I would have been smarter at a younger age. Again, don't finance a bike. Save up whatever money you can, and pay cash. You may not be able to buy the bike you "want", but you'll be out riding and that's the important thing. As your riding the cheaper bike, continue to save up so much a month, like you were making a payment on one, then go buy the bike you want with cash. If you can't save up the money, then you don't want it too bad.


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## bigkat273 (Jan 16, 2008)

IMHO with our economy you'd be better off keeping your cash in a safety deposit box or in your mattress...

Sent from my DROID RAZR HD using Tapatalk 2


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## CrashDummy31 (May 8, 2013)

I got it!! I found out I'm working a crapload through the summer. So I will be able to build myself back up. I didnt finance, I did it out right. So I now own the 2013 Specialized Camber 29!


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## smallwine (Feb 18, 2008)

Good, get off this forum and go ride!


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## GelatiCruiser (Oct 11, 2012)

But post pics before you do!


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## LB412 (Nov 28, 2012)

CrashDummy31 said:


> I got it!! I found out I'm working a crapload through the summer. So I will be able to build myself back up. I didnt finance, I did it out right. So I now own the 2013 Specialized Camber 29!


Congrats!


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## CrashDummy31 (May 8, 2013)

It's been raining like crazy, so everything is mud right now. But I LOVE the bike. Cornering is a bit difficult as of now w/ the 29. But I think I just have to shift my weight back a little differently to get the tighter corners


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## DennisF (Nov 4, 2011)

CrashDummy31 said:


> It's been raining like crazy, so everything is mud right now. But I LOVE the bike. Cornering is a bit difficult as of now w/ the 29. But I think I just have to shift my weight back a little differently to get the tighter corners


Ok, so YOU and your new bike is the reason it has been raining and nobody can ride 
Congratulations!

Try leaning FORWARD, putting more weight on the handlebars and front wheel, digging it in to the dirt more.


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## OneBadWagon (Mar 29, 2007)

If you can save $500 a month and not ding your lifestyle too badly, then do so and find a rocking used bike. I see tons of awesome bikes that don't get any love on Craigslist or the local forums. 

Financing a quickly depreciating asset doesn't seem like a great idea, and a person's financial situation can change in the blink of an eye.


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## manmythlegend (May 21, 2012)

bikeabuser said:


> Being young has nothing to do with being financially stupid, but being smart at the OP's age means not working their entire life, toward retirement.
> 
> If you really understood what $1000 in a 401k at age 25 could do, you'd not wait, or suggest waiting, and you also wouldn't be justifying financial stupidity to someone else.
> 
> Wait another 5 years, and you can toss the maximum allowed, every year until retirement, and you'll not amass what $1000 (one installment) will do for a 25 year old.


Please post numbers. This sounds like a wild claim.

As for OP don't finance a bike. Buy used or catch a sale.


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## laine (Oct 4, 2012)

CrashDummy31 said:


> It's been raining like crazy, so everything is mud right now. But I LOVE the bike. Cornering is a bit difficult as of now w/ the 29. But I think I just have to shift my weight back a little differently to get the tighter corners


Congratulations! If you love the bike, you'll be happy. Please post a photo!

And while I think this is a fantastic board to post questions about bikes, frames, components, deals, riding advice, etc., you're probably better off getting your financial advice from another forum, or better yet, a financial advisor. If you can save that $500 per month for the next couple of months, you can take that to your local bank or Ameriprise or Schwab office and ask to speak with someone to get set up for the future. Never too early to start.

But on this site, it's clear that everyone has had different experiences and has different opinions on cash vs. credit and investing and how you should buy a bike. Essentially, YMMV.

Again, this is an amazing forum for mtn biking information and debates. I just think you should look for your financial advice elsewhere.

Just my 2 cents.

-laine


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## kjlued (Jun 23, 2011)

I have said it before in a similar thread but when it comes to financing I am a firm believer in not financing toys. I have never financed a bike or motorcycle. I have financed a car in the past because I thought I had to keep up with the Jones's but regretted that decision the whole time I was paying it off. 

So my answer to financing a bicycle is "no". Even if it is 0% interest and you feel you can pay it off quickly. You never know what could happen in that 6 months. 

Again, this is just my philosophy but people can do what they want.


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## Biggie (Dec 11, 2004)

$1900 and you get a bike that is red. Dude, your old bike is red! Save your money and spring for a red roadie team kit.

Joking, of course, $1900 is a reasonable sum to spend on a bike. Especially your first nice one! It is not like you have a stable of 10 like most of us addicts on here.


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## CrashDummy31 (May 8, 2013)

I wanted a red bike! The black and red just looked so mean and awesome! I bought it outright. I'm going to be working a ton this summer, so I will be able to build my savings right back up. A bit of a learning curve w/ 29's But I did my first trail in the mud this past weekend. Not technical, mostly flat, but still fun. It just ripped through the mud, no loss of speed over rocks and branches. Also I was able to pull a 7in hop over a log too. 

Thank you everyone fo your advise!!!!!!!!!!!!!!!!!!


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## merlinm (Feb 12, 2010)

CrashDummy31 said:


> I wanted a red bike! The black and red just looked so mean and awesome! I bought it outright. I'm going to be working a ton this summer, so I will be able to build my savings right back up. A bit of a learning curve w/ 29's But I did my first trail in the mud this past weekend. Not technical, mostly flat, but still fun. It just ripped through the mud, no loss of speed over rocks and branches. Also I was able to pull a 7in hop over a log too.
> 
> Thank you everyone fo your advise!!!!!!!!!!!!!!!!!!


you paid cash for it -- good job. if you only had 500$, you would have been better off buying an entry level hard tail to get through the summer. for the rest of you tempted to finance a bike, watch this video: Saturday Night Live - Don't Buy Stuff - Video - NBC.com


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## DennisF (Nov 4, 2011)

Right on. Should be required viewing for every senator and congressman.


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## bikeabuser (Aug 12, 2012)

CrashDummy31 said:


> I bought it outright.


 :thumbsup:

Enjoy the ride !


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## Biggie (Dec 11, 2004)

Happy trails.


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## Coondog#77 (Aug 13, 2012)

Walk in with cash and try to get a couple hundred knocked of their sticker price. Money talks and BS walks. Worst case you pay $1900.


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