Which am I better off doing?? - General Sportbike Discussion

DR650SE · 04-30-2008, 07:24 AM

So I just re-enlisted in the Army reserve and am currently in Iraq. I got a $15K taxfree bonus. Meaning on my next check I'll get $15,000 deposited to my account. When I get home am I better off buying a new R6 on a sale 0%APR for three years and using it as a means to build credit, or would I be better off paying cash? Other then credit cards and student loans, I don't have much credit. Let me know your opinions and why. I'm just trying to learn stuff that I should have read about long ago. Thanks

chadnine · 04-30-2008, 11:11 AM

FIRST OFF THANKS FOR YOUR SERVICE

SECOND...PAY CASH BE DONE WITH IT

pro-rabbit · 04-30-2008, 11:19 AM

If you are going for credit you are better off with a loan. Keep money back and pay it off in a year or so. If you have a loan less then 6 months it looks bad with an early pay off. I would guess your looking into keeping good credit to get a house at some point. Thats the kind of things I did and wound up with good credit and a pretty nice house in the end.

LRMzx636 · 04-30-2008, 11:29 AM

I agree, get the loan, 0% , put the money in an account and have it auto debit your payments.

04-30-2008, 07:24 AM	#1
DR650SE Registered User Join Date: Nov 2003 Location: Cleveland, OH Age: 26 Bike: 97 FZR 600 Gender: Male Posts: 114	Which am I better off doing?? So I just re-enlisted in the Army reserve and am currently in Iraq. I got a $15K taxfree bonus. Meaning on my next check I'll get $15,000 deposited to my account. When I get home am I better off buying a new R6 on a sale 0%APR for three years and using it as a means to build credit, or would I be better off paying cash? Other then credit cards and student loans, I don't have much credit. Let me know your opinions and why. I'm just trying to learn stuff that I should have read about long ago. Thanks

04-30-2008, 11:11 AM	#2
chadnine Registered User Join Date: Nov 2006 Location: ATL...thats what she said....... Age: 34 Bike: 929 f4i Gender: Male Posts: 821	Re: Which am I better off doing?? FIRST OFF THANKS FOR YOUR SERVICE SECOND...PAY CASH BE DONE WITH IT

04-30-2008, 11:19 AM	#3
pro-rabbit Registered User Join Date: Sep 2006 Location: Perryville, Mo Age: 26 Bike: '03 636 Gender: Male Posts: 357	Re: Which am I better off doing?? If you are going for credit you are better off with a loan. Keep money back and pay it off in a year or so. If you have a loan less then 6 months it looks bad with an early pay off. I would guess your looking into keeping good credit to get a house at some point. Thats the kind of things I did and wound up with good credit and a pretty nice house in the end.

04-30-2008, 11:29 AM	#4
LRMzx636 Registered User Join Date: Apr 2006 Location: Lawrenceville, GA Age: 25 Bike: 03' 636 Gender: Male Posts: 1,193	Re: Which am I better off doing?? I agree, get the loan, 0% , put the money in an account and have it auto debit your payments.