Go Back  Bike Forums > Bike Forums > General Cycling Discussion
Reload this Page >

Why are road and TT bikes so expensive?

Notices
General Cycling Discussion Have a cycling related question or comment that doesn't fit in one of the other specialty forums? Drop on in and post in here! When possible, please select the forum above that most fits your post!

Why are road and TT bikes so expensive?

Old 09-17-20, 11:49 AM
  #51  
Reflector Guy
Senior Member
 
Reflector Guy's Avatar
 
Join Date: Jul 2020
Location: Chicago
Posts: 1,340

Bikes: Bianchi Infinito XE, Via Nirone 7, GT Aggressor Pro

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 599 Post(s)
Liked 1,270 Times in 588 Posts
Originally Posted by BoraxKid
No, not at all. Credit cards are pretty simple instruments to understand and use. What do you find confusing about them?
Gosh, I'm sure I used the pronoun "you" in my post, not "me". Let me check...

Yep, sure enough, I was referring to you. Not me.
Reflector Guy is offline  
Old 09-17-20, 11:51 AM
  #52  
tomato coupe
Senior Member
 
Join Date: Jul 2009
Posts: 5,879

Bikes: Colnago, Van Dessel, Factor, Cervelo, Ritchey

Mentioned: 5 Post(s)
Tagged: 0 Thread(s)
Quoted: 3906 Post(s)
Liked 7,181 Times in 2,905 Posts
Originally Posted by livedarklions
Just to muddy the waters more, "afford" has two entirely distinct definitions. Just to use the other one, if I can acquire the bike now, I can now afford myself of its virtues. If I have to defer the purchase until I can make payment in full, I may be delayed in affording myself of its virtues and may not be able to acquire it until I'm too old to fully make use of those virtues.
No one is using that definition in this discussion.
tomato coupe is offline  
Old 09-17-20, 12:10 PM
  #53  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Originally Posted by tomato coupe
No one is using that definition in this discussion.

Did I say they were? Point is still that you and BoraxKid are using the word differently and have been going around in circles doing so. I just threw that in to point out that linguistic issues are complicated and the use of words can have nuanced differences.

Seriously, you're in the umpteenth post on a "half full/half empty" debate. I just got annoyed because of the blatant misuse of economic concepts.
livedarklions is offline  
Old 09-17-20, 12:34 PM
  #54  
tomato coupe
Senior Member
 
Join Date: Jul 2009
Posts: 5,879

Bikes: Colnago, Van Dessel, Factor, Cervelo, Ritchey

Mentioned: 5 Post(s)
Tagged: 0 Thread(s)
Quoted: 3906 Post(s)
Liked 7,181 Times in 2,905 Posts
Originally Posted by livedarklions
Did I say they were? Point is still that you and BoraxKid are using the word differently and have been going around in circles doing so. I just threw that in to point out that linguistic issues are complicated and the use of words can have nuanced differences.
As I recall, you stated that the word "'afford' has two entirely distinct definitions". You just agreed that one of those definitions is not being used in this discussion. That seems to imply that we are therefore using the same definition of the word in this discussion.

Going around in circles? I have made two posts in response to BoraxKid in this thread.
tomato coupe is offline  
Old 09-17-20, 12:37 PM
  #55  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Originally Posted by Reflector Guy
Gosh, I'm sure I used the pronoun "you" in my post, not "me". Let me check...

Yep, sure enough, I was referring to you. Not me.


Yes, but I'm pretty sure he's rubber and you're glue.

Your snark misfired when he said it wasn't a dilemma for him.
livedarklions is offline  
Old 09-17-20, 12:38 PM
  #56  
genejockey 
Klaatu..Verata..Necktie?
 
genejockey's Avatar
 
Join Date: May 2007
Location: SF Bay Area
Posts: 17,656

Bikes: Litespeed Ultimate, Ultegra; Canyon Endurace, 105; Battaglin MAX, Chorus; Bianchi 928 Veloce; Ritchey Road Logic, Dura Ace; Cannondale R500 RX100; Schwinn Circuit, Sante; Lotus Supreme, Dura Ace

Mentioned: 41 Post(s)
Tagged: 0 Thread(s)
Quoted: 10244 Post(s)
Liked 11,598 Times in 5,944 Posts
Originally Posted by tomato coupe
No one is using that definition in this discussion.
So I went to the dictionary, or at least the online equivalent of it. Here's how it (Merriam-Webster) defines "Affordable":

: able to be afforded: having a cost that is not too high
Which really doesn't definitively fall down on either side of the tastes great/less filling "financing makes things affordable/no it doesn't" argument. If you define "able to be afforded" as " can afford to make this payment every month for the life of the loan", then, yeah financing makes it "affordable". It doesn't make you more able to pay the full price up front, so arguably it DOESN'T make it "able to be afforded", and with the exception of situations where the rate of interest is below the rate of inflation, financing will make the item more expensive in real terms.

Personally, I don't believe in financing something that will likely be or become worth less than what I'd owe on it. That way, madness lies. And I wouldn't ever see a bike as an "investment", unless we're talking about a collectible, and even then, collectibles are risky investments. Then again, I already have several bikes and none of them were financed.
__________________
"Don't take life so serious-it ain't nohow permanent."

"Everybody's gotta be somewhere." - Eccles
genejockey is offline  
Old 09-17-20, 12:43 PM
  #57  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Originally Posted by tomato coupe
As I recall, you stated that the word "'afford' has two entirely distinct definitions". You just agreed that one of those definitions is not being used in this discussion. That seems to imply that we are therefore using the same definition of the word in this discussion.

Going around in circles? I have made two posts in response to BoraxKid in this thread.

Fun example of the complexities of language--"you" in my post is actually plural. There's multiple posts in this thread making the exact same point as your two, again and again.

For what it's worth, I buy my bikes with a credit card and pay it off immediately so I get the cash reward or points or whatever.

I also have never spent anywhere near $3000 on a bike, and have no particular desire to do so since I tend to favor the 1990s time machines.
livedarklions is offline  
Old 09-17-20, 12:44 PM
  #58  
Reflector Guy
Senior Member
 
Reflector Guy's Avatar
 
Join Date: Jul 2020
Location: Chicago
Posts: 1,340

Bikes: Bianchi Infinito XE, Via Nirone 7, GT Aggressor Pro

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 599 Post(s)
Liked 1,270 Times in 588 Posts
Originally Posted by livedarklions
Yes, but I'm pretty sure he's rubber and you're glue.

Your snark misfired when he said it wasn't a dilemma for him.
I'm glad he cleared that up. I thought for sure he'd have some extreme fringe viewpoint, pro or con.
Reflector Guy is offline  
Old 09-17-20, 12:46 PM
  #59  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Originally Posted by genejockey
So I went to the dictionary, or at least the online equivalent of it. Here's how it (Merriam-Webster) defines "Affordable":

: able to be afforded: having a cost that is not too high
Which really doesn't definitively fall down on either side of the tastes great/less filling "financing makes things affordable/no it doesn't" argument. If you define "able to be afforded" as " can afford to make this payment every month for the life of the loan", then, yeah financing makes it "affordable". It doesn't make you more able to pay the full price up front, so arguably it DOESN'T make it "able to be afforded", and with the exception of situations where the rate of interest is below the rate of inflation, financing will make the item more expensive in real terms.

Personally, I don't believe in financing something that will likely be or become worth less than what I'd owe on it. That way, madness lies. And I wouldn't ever see a bike as an "investment", unless we're talking about a collectible, and even then, collectibles are risky investments. Then again, I already have several bikes and none of them were financed.

Honest question, do you pay cash for your cars? The whole industry is built on that type of financing. Not sure madness lies that way for everything.
livedarklions is offline  
Old 09-17-20, 12:55 PM
  #60  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Originally Posted by tomato coupe
As I recall, you stated that the word "'afford' has two entirely distinct definitions". You just agreed that one of those definitions is not being used in this discussion. That seems to imply that we are therefore using the same definition of the word in this discussion.
Actually, no. You're using subtly different but perhaps overlapping definitions--he uses "more affordable" to mean "I can buy this thing while using it and not have to forego eating like I would if I paid for it all now" while you're using it to mean "lower total lifetime cost".

The dictionary definition just isn't subtle enough or long enough to capture that contrast.
livedarklions is offline  
Old 09-17-20, 12:55 PM
  #61  
genejockey 
Klaatu..Verata..Necktie?
 
genejockey's Avatar
 
Join Date: May 2007
Location: SF Bay Area
Posts: 17,656

Bikes: Litespeed Ultimate, Ultegra; Canyon Endurace, 105; Battaglin MAX, Chorus; Bianchi 928 Veloce; Ritchey Road Logic, Dura Ace; Cannondale R500 RX100; Schwinn Circuit, Sante; Lotus Supreme, Dura Ace

Mentioned: 41 Post(s)
Tagged: 0 Thread(s)
Quoted: 10244 Post(s)
Liked 11,598 Times in 5,944 Posts
Originally Posted by livedarklions
Honest question, do you pay cash for your cars? The whole industry is built on that type of financing. Not sure madness lies that way for everything.
Last car I bought, in 2014, I sold some stock options for half of it, and financed the rest, then last year sold the options I WOULD HAVE had to sell to cover the full price in 2014 for 1.5x as much as per share as they were worth in 2014.

But I think you misunderstand me. If you put down a large enough payment that what you owe is always less than the car's current value, especially if you get a good interest rate, that's not madness. 100% financing? THAT'S nuts.
__________________
"Don't take life so serious-it ain't nohow permanent."

"Everybody's gotta be somewhere." - Eccles
genejockey is offline  
Old 09-17-20, 01:03 PM
  #62  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Originally Posted by genejockey
Last car I bought, in 2014, I sold some stock options for half of it, and financed the rest, then last year sold the options I WOULD HAVE had to sell to cover the full price in 2014 for 1.5x as much as per share as they were worth in 2014.

But I think you misunderstand me. If you put down a large enough payment that what you owe is always less than the car's current value, especially if you get a good interest rate, that's not madness. 100% financing? THAT'S nuts.

Depends on the amount, 100% of what? What's the repayment term? Also, it makes a lot of sense to finance 100% of a service if you need it now but can't get the money to pay for it if you don't get the service. Obvious example--your bank account is empty, and you need to get your car fixed to get to work.

But more often than not, I'd agree with you. The overfinanced car is a real financial burden.
livedarklions is offline  
Old 09-17-20, 01:08 PM
  #63  
genejockey 
Klaatu..Verata..Necktie?
 
genejockey's Avatar
 
Join Date: May 2007
Location: SF Bay Area
Posts: 17,656

Bikes: Litespeed Ultimate, Ultegra; Canyon Endurace, 105; Battaglin MAX, Chorus; Bianchi 928 Veloce; Ritchey Road Logic, Dura Ace; Cannondale R500 RX100; Schwinn Circuit, Sante; Lotus Supreme, Dura Ace

Mentioned: 41 Post(s)
Tagged: 0 Thread(s)
Quoted: 10244 Post(s)
Liked 11,598 Times in 5,944 Posts
Originally Posted by livedarklions
Depends on the amount, 100% of what? What's the repayment term? Also, it makes a lot of sense to finance 100% of a service if you need it now but can't get the money to pay for it if you don't get the service. Obvious example--your bank account is empty, and you need to get your car fixed to get to work.

But more often than not, I'd agree with you. The overfinanced car is a real financial burden.
100 percent of the purchase price. That's generally what "100% Financing" means - no money down, no equity. You start off in the hole because as soon as you drive the car off the lot, you're thousands of dollars in the hole, because it's ALREADY worth less than you owe.

Regarding financing service? That's a different matter. That goes to the question of the OVERALL affordability of a vehicle - if you can afford to buy it, but not service it without borrowing, you've got a problem.
__________________
"Don't take life so serious-it ain't nohow permanent."

"Everybody's gotta be somewhere." - Eccles
genejockey is offline  
Old 09-17-20, 01:20 PM
  #64  
BoraxKid
Senior Member
 
Join Date: Jul 2020
Location: Parts Unknown
Posts: 356
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 325 Post(s)
Likes: 0
Liked 109 Times in 72 Posts
Originally Posted by genejockey
So I went to the dictionary, or at least the online equivalent of it. Here's how it (Merriam-Webster) defines "Affordable":

: able to be afforded: having a cost that is not too high
Which really doesn't definitively fall down on either side of the tastes great/less filling "financing makes things affordable/no it doesn't" argument. If you define "able to be afforded" as " can afford to make this payment every month for the life of the loan", then, yeah financing makes it "affordable". It doesn't make you more able to pay the full price up front, so arguably it DOESN'T make it "able to be afforded", and with the exception of situations where the rate of interest is below the rate of inflation, financing will make the item more expensive in real terms.

Personally, I don't believe in financing something that will likely be or become worth less than what I'd owe on it. That way, madness lies. And I wouldn't ever see a bike as an "investment", unless we're talking about a collectible, and even then, collectibles are risky investments. Then again, I already have several bikes and none of them were financed.

So, the first definition of "afford" is "have enough money to pay for." To go back to the same well again, in the absence of financing, I might not have enough money to be able to pay for a bicycle. With financing, suddenly I do have enough money to pay for the bicycle. Therefore, financing makes the bike more affordable (albeit with the aid of borrowed money).

I think a few older people in this thread are hung up on the fact that when I use financing, I am temporarily borrowing money in order to make the purchase affordable. Their old-world views tell them that using credit is always bad, and they ignore several important points about why using financing can be a great idea, especially when the purchaser has motivation to hold onto their cash instead of significantly reducing their reserves. When used correctly, credit lets you keep your cash and enjoy and make use of what makes you happy today, all for the small premium of a nominal interest charge. Worrying about the few dollars per month of interest charges on an Affirm loan seems silly, given all the benefits provided by taking the loan in the first place.

To put this in real-world context: we are in the middle of a pandemic. I would much rather use the financial strategy that lets me keep my cash, in case calamity strikes. If I have cash, I can still buy necessities and pay rent. If I trade my cash for a bicycle, then I will have that much less cash to help in the event of misfortune. It's really a no-brainer why someone would choose financing in today's market.
BoraxKid is offline  
Old 09-17-20, 01:42 PM
  #65  
Koyote
Senior Member
 
Join Date: Sep 2017
Posts: 7,766
Mentioned: 37 Post(s)
Tagged: 0 Thread(s)
Quoted: 6882 Post(s)
Liked 10,873 Times in 4,637 Posts
Originally Posted by BoraxKid
I think a few older people in this thread are hung up on the fact that when I use financing, I am temporarily borrowing money in order to make the purchase affordable. Their old-world views tell them that using credit is always bad, and they ignore several important points about why using financing can be a great idea, especially when the purchaser has motivation to hold onto their cash instead of significantly reducing their reserves. When used correctly, credit lets you keep your cash and enjoy and make use of what makes you happy today, all for the small premium of a nominal interest charge. Worrying about the few dollars per month of interest charges on an Affirm loan seems silly, given all the benefits provided by taking the loan in the first place.
Eh? What's that, sonny? Speak into my hearing aid! Speak up! Wait a minute...You're saying that you use financing in order to get something that you couldn't otherwise get? Whoa! Thanks for explaining that to me! After buying (and financing, to varying degrees) four houses over the past 25 years, I had NO IDEA that that is how financing works!


Maybe I am old (or just old-fashioned), but if I had to borrow money to buy a new bike, I wouldn't buy it. But then, maybe us old folks were raised to understand something called "deferred gratification."
Koyote is online now  
Old 09-17-20, 02:10 PM
  #66  
BoraxKid
Senior Member
 
Join Date: Jul 2020
Location: Parts Unknown
Posts: 356
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 325 Post(s)
Likes: 0
Liked 109 Times in 72 Posts
Originally Posted by Koyote
Eh? What's that, sonny? Speak into my hearing aid! Speak up! Wait a minute...You're saying that you use financing in order to get something that you couldn't otherwise get? Whoa! Thanks for explaining that to me! After buying (and financing, to varying degrees) four houses over the past 25 years, I had NO IDEA that that is how financing works!


Maybe I am old (or just old-fashioned), but if I had to borrow money to buy a new bike, I wouldn't buy it. But then, maybe us old folks were raised to understand something called "deferred gratification."
Your ability to oversimply seems to know no bounds. Go back and re-read post #50 , and I mean, really read it carefully. Maybe then you can understand it's not only about "deferred gratification," since you completely ignored my points about keeping cash on hand being a preferred strategy in the middle of a pandemic.
BoraxKid is offline  
Old 09-17-20, 02:19 PM
  #67  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Originally Posted by genejockey
100 percent of the purchase price. That's generally what "100% Financing" means - no money down, no equity. You start off in the hole because as soon as you drive the car off the lot, you're thousands of dollars in the hole, because it's ALREADY worth less than you owe.

Regarding financing service? That's a different matter. That goes to the question of the OVERALL affordability of a vehicle - if you can afford to buy it, but not service it without borrowing, you've got a problem.

I understand what 100% financing means, I'm just saying that if it's not an expensive car and the loan relatively short term, that risk may be rather small.

Last edited by livedarklions; 09-17-20 at 02:24 PM.
livedarklions is offline  
Old 09-17-20, 02:21 PM
  #68  
I-Like-To-Bike
Been Around Awhile
 
I-Like-To-Bike's Avatar
 
Join Date: Oct 2004
Location: Burlington Iowa
Posts: 29,951

Bikes: Vaterland and Ragazzi

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 12 Post(s)
Liked 1,517 Times in 1,031 Posts
Originally Posted by Koyote
After buying (and financing, to varying degrees) four houses over the past 25 years, I had NO IDEA that that is how financing works!


Maybe I am old (or just old-fashioned), but if I had to borrow money to buy a new bike, I wouldn't buy it. But then, maybe us old folks were raised to understand something called "deferred gratification."
Why didn't you defer the gratification of living in/owning your own homes until you could "afford" to buy it/them without borrowing money?
I-Like-To-Bike is offline  
Likes For I-Like-To-Bike:
Old 09-17-20, 02:27 PM
  #69  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Anyone else finding this thread absolutely hilarious?
livedarklions is offline  
Likes For livedarklions:
Old 09-17-20, 02:32 PM
  #70  
livedarklions
Tragically Ignorant
 
livedarklions's Avatar
 
Join Date: Jun 2018
Location: New England
Posts: 15,613

Bikes: Serotta Atlanta; 1994 Specialized Allez Pro; Giant OCR A1; SOMA Double Cross Disc; 2022 Allez Elite mit der SRAM

Mentioned: 62 Post(s)
Tagged: 0 Thread(s)
Quoted: 8186 Post(s)
Liked 9,094 Times in 5,053 Posts
Originally Posted by I-Like-To-Bike
Why didn't you defer the gratification of living in/owning your own homes until you could "afford" to buy it/them without borrowing money?

Now you've done it! We're going to hear about real estate being an investment while bikes are not. After all, who can forget the catastrophic bicycle credit collapse of 2008?
livedarklions is offline  
Likes For livedarklions:
Old 09-17-20, 03:13 PM
  #71  
BoraxKid
Senior Member
 
Join Date: Jul 2020
Location: Parts Unknown
Posts: 356
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 325 Post(s)
Likes: 0
Liked 109 Times in 72 Posts
Originally Posted by livedarklions
Anyone else finding this thread absolutely hilarious?
100% yes
BoraxKid is offline  
Old 09-17-20, 03:45 PM
  #72  
badger1
Senior Member
 
badger1's Avatar
 
Join Date: Oct 2005
Location: Southwestern Ontario
Posts: 5,093
Mentioned: 22 Post(s)
Tagged: 0 Thread(s)
Quoted: 1566 Post(s)
Liked 1,160 Times in 591 Posts
Originally Posted by livedarklions
Anyone else finding this thread absolutely hilarious?
Yep!
badger1 is offline  
Old 09-17-20, 05:23 PM
  #73  
Maelochs
Senior Member
 
Maelochs's Avatar
 
Join Date: Oct 2015
Posts: 15,453

Bikes: 2015 Workswell 066, 2017 Workswell 093, 2014 Dawes Sheila, 1983 Cannondale 500, 1984 Raleigh Olympian, 2007 Cannondale Rize 4, 2017 Fuji Sportif 1 LE

Mentioned: 144 Post(s)
Tagged: 0 Thread(s)
Quoted: 7628 Post(s)
Liked 3,453 Times in 1,823 Posts
This thread saddens me, because either many of the posters will one day feel deeply embarrassed by the ridiculous posts they made debating imaginary points .... or they will never enlighten enough to feel that embarrassment.
Maelochs is offline  
Old 09-17-20, 07:06 PM
  #74  
Koyote
Senior Member
 
Join Date: Sep 2017
Posts: 7,766
Mentioned: 37 Post(s)
Tagged: 0 Thread(s)
Quoted: 6882 Post(s)
Liked 10,873 Times in 4,637 Posts
Originally Posted by I-Like-To-Bike
Why didn't you defer the gratification of living in/owning your own homes until you could "afford" to buy it/them without borrowing money?
Are you really trying to equate the purchase of a bike to the purchase of a house?

If you don't understand the difference, I'm not sure I can help you understand.
Koyote is online now  
Old 09-17-20, 07:20 PM
  #75  
dedhed
SE Wis
 
dedhed's Avatar
 
Join Date: Apr 2005
Location: Milwaukee, WI
Posts: 10,516

Bikes: '68 Raleigh Sprite, '02 Raleigh C500, '84 Raleigh Gran Prix, '91 Trek 400, 2013 Novara Randonee, 1990 Trek 970

Mentioned: 40 Post(s)
Tagged: 0 Thread(s)
Quoted: 2731 Post(s)
Liked 3,361 Times in 2,034 Posts
Originally Posted by BoraxKid
When used correctly, credit lets you keep your cash and enjoy and make use of what makes you happy today, all for the small premium of a nominal interest charge. Worrying about the few dollars per month of interest charges on an Affirm loan seems silly, given all the benefits provided by taking the loan in the first place..
Some of us started adult life when there was no such thing as "nominal interest charges" that has shaped our use of credit. My first mortgage was at 12.5% currently I'm at 3.375%. Huge difference. The minimal finance rates of today are a relatively new development in some of our lives.
dedhed is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.