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[harleydawg57]

Arkansas--lender keeps title until you pay off or marry your cousin.

[Hugh Janis]

So you're 1 for 2?

[miker]

Dang, I misread the subject again!

[Hugh Janis]

Dang, I misread the subject again!

    Nice cousin!  I used braille to read that one and was dead on.

[skreminegul07]

I might want to lien on those.

[SBB]

I might want to lien on those.

Now that's funny!

 

[grc]

I agree with the "pay cash for toys" philosophy.  To my way of thinking, the only time it makes sense to finance one is if the finance rate is less than the rate your investments are earning.  That happens fairly often in the automotive sector, with the manufacturer supported special financing deals (I especially like the 0% offers), but I've never seen those kinds of loans on bikes, boats, etc.   If I have some cash sitting somewhere making 4%, and the finance rate is 8%, then by my calculations I'm still 4% ahead by using the cash and not taking out the loan.

BTW, my philosophy was heavily influenced by my depression era father.  He didn't believe in owing anyone for anything, and only borrowed for his house.  Anything else he planned and saved for so he could pay cash.  There are many economics experts who will tell you that this is a poor method, and that you should be taking advantage of leverage to aquire as much as possible using other peoples money.  One of the drawbacks to being heavily "leveraged" has become fairly obvious in the past year, however.  It's called bankruptcy, or foreclosure, or repossession.  My method is a lot less stressful.  If I want "it", and I have the money, and the wife promises not to kill me, then I take the cash and buy "it".  If I don't have the money, or the wife threatens to kill me, then I obviously don't really need "it".  Life goes on.

Jerry

[LRebel]

Oklahoma:  Vehicle owner keeps title.  Lienholder is listed on the title.  If a lien is shown on the title, buyer knows to get a lien release.
In Oklahoma, the title doesn't do you much good as long as there is a lien.

[SBB]

I agree with the "pay cash for toys" philosophy.  To my way of thinking, the only time it makes sense to finance one is if the finance rate is less than the rate your investments are earning.  That happens fairly often in the automotive sector, with the manufacturer supported special financing deals (I especially like the 0% offers), but I've never seen those kinds of loans on bikes, boats, etc.   If I have some cash sitting somewhere making 4%, and the finance rate is 8%, then by my calculations I'm still 4% ahead by using the cash and not taking out the loan.

BTW, my philosophy was heavily influenced by my depression era father.  He didn't believe in owing anyone for anything, and only borrowed for his house.  Anything else he planned and saved for so he could pay cash.  There are many economics experts who will tell you that this is a poor method, and that you should be taking advantage of leverage to aquire as much as possible using other peoples money.  One of the drawbacks to being heavily "leveraged" has become fairly obvious in the past year, however.  It's called bankruptcy, or foreclosure, or repossession.  My method is a lot less stressful.  If I want "it", and I have the money, and the wife promises not to kill me, then I take the cash and buy "it".  If I don't have the money, or the wife threatens to kill me, then I obviously don't really need "it".  Life goes on.

Jerry

Good reply Jerry!
My feeling exactly.
The other part of paying cash is that no matter what happens, you don't have to worry about someone taking it from you. Except when your racing Hubbard to Charleston and you get stopped doing the high side of 120!






 

[HogBreath]

I bought a six pack off beer last weekend. I financed it for 2 years at 12% APR.  There's also a penalty for early pay off.

[Ghost Rider]

I bought a six pack off beer last weekend. I financed it for 2 years at 12% APR.  There's also a penalty for early pay off.

I thought you never owned beer, only rented it. 

[Notah - AZ]

Twincam,

AZ just started in 2005 with the lien holder maintaining the title when you purchase anything that has one.

Notah

[tompen]

I agree with the pay as you ride idea too. But, as jeorge said, in NY you get the title with lienholders listed. The title with a lien release from the lien holder is needed to sell it. A "clean title" will then be issued for $50.00. You can sell it with a lien and the lien will appear on the new owners title also. Thats if you can find anyone that will buy a bike with a lien.

[HogBreath]

I thought you never owned beer, only rented it. 

Yes, but only part of it. Ever notice you pee more beer than you drink?

[Ghost Rider]

Yes, but only part of it. Ever notice you pee more beer than you drink?

Yes, that is the toxins leaving your body.  That is why it is important to drink as much beer as possible.  It keeps the pipes clean.