OK, I'll gie you an update.


Ok, I owed $1K on the big gas hog i have owned for about 4yrs.

It has a warranty on the motor for another yr or so that is transferable to the next owner.

Anyhow, I sent the check in and finally, that big obese truck is PAID.


So now, I owe my credit card ( appx $7K @19% but working on transfering. Looking intently but each inquiry hits the report so i am having a hard time picking and choosing the one with he best chances)


Credit score is 665 experian.

I have ridden for 20yrs. I would like anotuher bike. A 08 costs about 12K at 6.5%fixed at another bank.



PLan was to get the bike, sell the truck, pay off the card. Anything after is obviously at a much lower rate.

My buddy thought of something. Yes, the interest is higher but power payments make more difference than just interest.


He says "get a nonsecured loan form your bank. Get the bike, sell the truck, pay off the nonsecured loan, and take your paychecks and pay on the card"

I thought about it and I have a few bills. One week paycheck could cover them for a month. The remaining 3/4 could be thrown on the card. It'll be paid off in a matter of a couple months.

As Soon as the card is paid or i buy a cheap beater for rain and then paid off, would leave me debt free.




Also, do you have any card comapnies that allow horribly superior credit for balance transfer? If they except the worst, then I KNOW I can get lower than my 19% at wells fargo card after never missing a payment for 1yrs and having at that time, 760 credit but now 665 or so, and them not wanting to lower it below 19%.....



What do you think?

P.S.

truck costs $150/wk in gas alone. Bike gets $25/wk....... If I buy a brand new bike, the gas ALONE in the truck, although paid off, will cost more than the gas, note, and insurance, in the bike....



So now what do you think?





Thanks....

http://creditboards.com/forums/index.php?s...29434&st=25

getting into more debt to save money....sounds like a risky business....im not sure what kind of bike you are thinking of getting. i have an 2005 cbr 600RR (which can be gotten for about half of what you said you can get an 08 for....so there i just saved you 6k) the idea of riding around on a bike sounds fun, and it is for the most part, except when you are stuck in traffic with no AC in the middle of summer and your bike is at max temp (mine is somewhere about 220 on a hot day) you will seriously reconsider taking the nice AC truck to work so you wont be covered in sweat by the time you get there. another cost people don't think about is that you have to buy new tires about every 5k miles ($300), keep the chain lubed (thats pretty cheap) and if you dont have any gear (minimum; helmet, jacket, gloves) that can cost upwards of another 1000 (yes i do think my body is worth spending that much to protect)....anyways...im not trying to deter you from getting a bike, im just saying that you wont save as much money as you think. i love my bike, and i love riding it...but i didnt get it to save on gas, and neither should anybody....(btw my Tahoe gets about 15 mpg so dont go thinking i drive some super economic car) if you are going to get a bike, dont get new.....you can get a good deal on a used one about a year or 2 old, especially if an updated model has come out....new bikes are notorious for not holding their value.