Honda CBR 600RR Forum banner

1 - 20 of 21 Posts

·
Registered
Joined
·
191 Posts
Discussion Starter #1
I just had my 04 Honda CBR600RR stolen from my house a week ago. I did not have full insurance, only liability so I am out the hole 12000 dollars . Bike price plus mods. I am now looking to buy the new 06 750 GSXR and was wondering what was the best prices out there people have paid in the NY/LI area OTD. This topic always flames some people but look I am just looking for options, not trying to get on anyone's bad side. Any input is always appreciated.
Hoping to ride soon!
 

·
Registered
Joined
·
870 Posts
Sodamninsane said:
jesus are you made of money man? out 12 large and buying another bike??? btw, for the price of a 750 you might as well just step up the extra 500 bucks and get a 1000...

+1oooooooo
 

·
Registered
Joined
·
1,464 Posts
Sodamninsane said:
jesus are you made of money man? out 12 large and buying another bike??? btw, for the price of a 750 you might as well just step up the extra 500 bucks and get a 1000...
How can afford to buy another new bike and not afford to put full coverage on one? I would just step up to the liter for half a grand more like Sodamn said.
 

·
Registered
Joined
·
191 Posts
Discussion Starter #6
Guys affording the payments on the bike after putting 3g down comes out under 100 a month plus I will be taking more precautions this time.
I was contemplating getting the 1000 but that might be a little to much power coming from the 600RR. I rode the gsxR600 and even that seems to be tunned nicely for 06 compared to my 04 Honda. I aint switching for the sake of getting rid of Honda. I loved Honda and would stay if they ever made a production 750 or 800 bike. but their 600 is a little to slow when riding with a passenger sometimes and riding it for 2 years and putting a hell of a lot of miles on it, i want something with more power right out of the low gears and not have to worry about revving the crap out of my bike.
the new 750 gixxer is like the best mix of all sizes and speeds but true the 1000 is not much more
lets see
 

·
Registered
Joined
·
191 Posts
Discussion Starter #7
oh amnd its very simple math with affording anything
insurance plus bike = 300 month
liability plus bike - 150 month
lets see the difference
can i afford 150 a month = yes
300 a month = 2 bikes without liability
that's why no insurance
but that changes when I am 25
 

·
Registered
Joined
·
587 Posts
Full Coverage On Everything..........priceless
 

·
Registered
Joined
·
5,448 Posts
baffula said:
Wait so you still have to pay off your old one? Which is the 150 a month? Then you are getting a new one which is another 150 a month? Meaning you're now spending 300 a month which was originally what the first one would have been with full coverage??
well..murphy's law is a biatch.

when u have it, u won't need it...and when u don't have it....well, u know how that goes.
 

·
Registered
Joined
·
504 Posts
considering that a crash on a sportbike can turn into a thousands of repair work (if not resulting in the bike being totaled), full coverage is essential IMO.
 

·
Registered
Joined
·
210 Posts
NesNeedsBoost said:
well..murphy's law is a biatch.

when u have it, u won't need it...and when u don't have it....well, u know how that goes.
Yeah true, but if it's now 300 to have two bike payments and only liability which is what he said he couldn't afford then with one bike and only liability .... nevermind, my head hurts now.

Besides, w/o looking at my insurance papers, I think comp only added somewhere near 300 a year for me. Meh.
 

·
Registered
Joined
·
191 Posts
Discussion Starter #14
Trust me I didn't do this by choice.
At that time baffula, It was only 150 per month when I had only 1 bike. That is stolen. **** happens But now I am assed out. that money is gone no matter what could have would have or should have happened. To get a brand spanking new 06 750 it will cost me 150 a month. Which I will gladly pay in addition to the 100 per month I have to pay on the stolen bike. Total = 250 per month. with technically still owning 2 bikes. Not one fully insured and One just happens to be stolen. Look for those with full insurance good for you. If they only charged my 2g or under per year I would have gotten full too on a brand new bike. But I try and minmize costs up front. and put the bulk of my money in a mutual fund or something with a minimal yet significant return.And by the way, I already have put away 20G in a savings acount giving me 4.95 per year yeild. that roughly covers half my bike payment every month for me.
Cudos
 

·
Registered
Joined
·
1,182 Posts
first of all... You need to consider math courses at your local university or something...

That being said... and I dont even know where to start here, but here we go...
4.95% on a savings account, I raise my BS flag there...

Still making payments on a 600rr w/o full coverage = not a bright call

If you can't afford full coverage and payment, consider an older model bike to reduce costs.

"I try and minimize costs up front."
.... I'm nearly speachless on this one... nearly... By minimizing costs of $100 per month, you are in the position of buying another bike. Now you are considering adding $10000 worth of bike (plus additional interest, which is substantial at $150 / month payment). You could have paid full coverage for 100 months in place of this new bike...

Also on that, if you are minimizing costs, consider a used bike. If you are bumping up from a 600 anyways, an '03 gixxer 750 would certainly suffice.

Not that you want our advice anyways, but here's something to chew on.
I pay about $35 a month full coverage, if you are at $250ish for full coverage on a 600, you need to start looking at other options. If that was your rate on the 600, you are going to gasp at the rate for a 750 or 1000.
If you elect to not have full coverage on a new bike after having one stolen, you deserve to have the new bike stolen for stupidity, that's all there is to it.
Do yourself a favor and buy a used bike this time around, or hold off until you can afford to payoff the one you lost, no sense putting yourself in debt on new toys with only 20k in the bank, that's peanuts.
 

·
Registered
Joined
·
860 Posts
Your rationalization of it amazes me as well. Up until today, I was paying $275 a month on payment and $306 a month on full coverage on top of my $700 a month truck payment and $120 a month full coverage on it. I know I'm not a smart person financially, b/c once I do get extra cash laying around I find a way to spend it, but you're just going way out of your way to blow your cash. Just think if you would have spent the $100 on insurance or whatever it was, you'd be able to get a 750 now for probably what you were paying for the 600, b/c the 600 would be paid off. Call State Farm like most other people. I signed up today with them and am gonna be paying $85 a month for $250 deductible. If you can't afford to fully or smartly protect your assests(bike) then maybe you should stick to the stock market where things don't get stolen.
 

·
Registered
Joined
·
210 Posts
HavocIND said:
Trust me I didn't do this by choice.
At that time baffula, It was only 150 per month when I had only 1 bike. That is stolen. **** happens But now I am assed out. that money is gone no matter what could have would have or should have happened. To get a brand spanking new 06 750 it will cost me 150 a month. Which I will gladly pay in addition to the 100 per month I have to pay on the stolen bike. Total = 250 per month. with technically still owning 2 bikes. Not one fully insured and One just happens to be stolen. Look for those with full insurance good for you. If they only charged my 2g or under per year I would have gotten full too on a brand new bike. But I try and minmize costs up front. and put the bulk of my money in a mutual fund or something with a minimal yet significant return.And by the way, I already have put away 20G in a savings acount giving me 4.95 per year yeild. that roughly covers half my bike payment every month for me.
Cudos
Forget taking a math course, you need an economics course ... stat. We have all come to the agreement that not having full coverage on a sport bike is silly, you can't disagree on this simply and solely because of what happened to you.

Now look closely at what I'm about to say and see if you can see where I am coming from. Even having 20,000 in a savings account that yields 4.95 you are only taking $82.50 per month home in interest. Now, assuming you'll pay taxes at some point on that money, as Uncle Sam deserves it, that amount is and will be slightly less but neglible at this point to prove my point.

If you go out and get a bike loan at a rate of less than 4.95, then and only then are you doing yourself any sort of a favor by keeping the '20g' in the savings account. Any fraction of a percent over and you are pissing away any money earned as interest in the account in addition to additional money; the exact same can be said for your mutual funds however then you must determine what your average rate of return is on the money and apply the same logic.

Since you posted here and are seeking advice, here's mine. Take the money out of the savings account and by the bike in cash. Assuming the bike runs you 10,000 that leaves you 10,000 in the savings account to earn a bit of interest.

You've already established that you are now able to afford 250 a month. You have 100 a month tied up in your lost goods, so that drops you to 150 a month of liquid expendable cash.

From an earlier post you said:
"insurance plus bike = 300 month
liability plus bike - 150 month"

Since insurance (I'm assuming you meant full coverage) plus your bike would have been 300 a month, cutting out comp and collision (liability only) set you at 150 a month. Which leads me to believe that since you established your bike payment to be 100, that liability for you is 50 a month, and adding comp and collision brought you up to 200 a month.

We already found 150 for you, now all you need is another 50 to have full coverage on a bike that you have paid for outright. Upping deductibles is an option as well as finding another provider or eating a ham sandwich or too instead of dining out.

Check foremost or any of the other underwriters people have talked about in here and hopefully you can get yourself full coverage.
 

·
Ducati Champion Del Mondo
Joined
·
7,847 Posts
SplatterThrash said:
considering that a crash on a sportbike can turn into a thousands of repair work (if not resulting in the bike being totaled), full coverage is essential IMO.
Yeah really speak to my friend he just wreck his 750 two days ago. 55 into a car, needless to say the bike is toast.

Jason
 
1 - 20 of 21 Posts
Top