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Should I get a Slingshot?

  • Yes, definitely!

    Votes: 28 70.0%
  • No, not worth the hype

    Votes: 1 2.5%
  • Wait it out, weigh the options

    Votes: 11 27.5%
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Discussion Starter #1
I have been a lurker on this forum for quite awhile now, I've seen this forum go from 3 daily new posts to 3 pages of new daily posts. Now that people have taken delivery of these machines, i am still on the sidelines watching in jealousy. I have the cash for a SL but am still on the fence. I know its incomparable to a car but with that money, i really could get a miata or a FRS... even a wrx with just a bit more...

i am also saving up for a house so dropping 30k on a toy would really set my dream of owning a home back a year or two...

so the question is, buy now before all regulations and insurance company catch on and the states ban the SS?

no don't get it, its not worth 30k of fun, get a car with a roof?

or sleep on it more?

thanks!
 

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While I haven't been able to buy my Slingshot yet due to Texas' insane "saddle" definition, I still look forward to getting one. Unfortunately, if I were in your case and looking to buy a house, then I would only buy a Slingshot if I could easily replace the money spent on the Slingshot to rebuild the down payment money for a house. Buying a house tends to produce a monetary return over time whereas buying a vehicle usually doesn't.

Despite the games being played by several states, I don't think vehicles like the Slingshot will be totally banned, as there is a movement toward creating s new classification for similar vehicles with a reverse trike layout and where the operator is inside a frame of some kind. I had posted a link to a proposal from an organization of DMVs that included the new term, but am too lazy to look for it at the moment.

Unfortunately, the insurance industry has basically priced vehicles out of the market before by charging so much not enough people will buy them.

From a financial standpoint, buy the house first, then get a Slingshot. If you can afford both, test drive the Slingshot and then make your decision. I'd say you could finance some of the Slingshot and reserve some of your money for your house down payment, but owing money on the Slingshot could negatively affect your house-buying power.
Good Luck.
 

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Buy the house before any toy. A home is an investment that should appreciate in value. Cars and toys like the SS do one thing only - depreciate.
 

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I have been a lurker on this forum for quite awhile now, I've seen this forum go from 3 daily new posts to 3 pages of new daily posts. Now that people have taken delivery of these machines, i am still on the sidelines watching in jealousy. I have the cash for a SL but am still on the fence. I know its incomparable to a car but with that money, i really could get a miata or a FRS... even a wrx with just a bit more...

i am also saving up for a house so dropping 30k on a toy would really set my dream of owning a home back a year or two...

so the question is, buy now before all regulations and insurance company catch on and the states ban the SS?

no don't get it, its not worth 30k of fun, get a car with a roof?

or sleep on it more?

thanks!
No correct answer to offer you - sorry. Partially depends on where you live (weather) experience level (never rode a bike before, or expert rider and sports car experience) and main reason to purchase (secondary vehicle for daily commutes, weekend get-a-ways with other bikers, single or married with no kids and want to get that devil out of your system before the kids come into your life. This is not for everyone, but if you like to get out into the fresh air and ride, love all the attention you'll receive wherever you go (including getting fuel) and can justify the costs in terms of smiles per mile rather than dollars per ride, this should make you happy. If you're in an area that has a dealer that rents these out, that would be the best way to make up your mind at a cheap price. If it ends up being a rental from a Polaris dealer, you could probably even talk him into applying the cost of the rebtal towards the purchase price if you decide to buy one from him. Good luck with your decision, but looking back at life when you're too old to enjoy it, would you rather have all these great memories of riding the slingshot, or look back and wonder what it would have been like if you had bought one? You know which one I took and will never regret buying one. The first in my county, the first dozen in the state, and the first 50 in the country to have one bought, paid for, tagged, insured and ridden within the first 30 days of them being released for sale.
 

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Dont confuse the SS with a car. it is a TOY .Buy a house pay for it, then get toys .Having no debt is a very nice feeling .It feels better than any toy you can finance .
 

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I didn't start riding a motorcycle until I was approaching retirement. I wish I had started riding earlier, but I didn't feel I had the disposable income with my Kid's needs, etc.
My personal outlook on credit is it's an avoidable, but necessary evil. Sometimes you gotta pay interest because you MUST have something. Now I'm in the position where I don't mind paying a minimal amount of interest for something I WANT.
Of course, each of us has to determine what those levels of comfort are.
 

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Dont confuse the SS with a car. it is a TOY .Buy a house pay for it, then get toys .Having no debt is a very nice feeling .It feels better than any toy you can finance .
You are dead on. Financial security is more important than any purchase. It's very difficult to make the adult decisions, but once you build your wealth you will constantly be looking for "the next toy." Dropping 24k won't be a big deal. It's just another purchase once you've really secured yourself and your family. You can find a motorcycle used for a few thousand which will be extremely fun and won't ruin your house plans.

Now that I've gotten that out of the way, make sure buying a house is a smart move too. I usually tell people to buy a small house for around 60k. Get that sucker paid down and use it as your first rental property. Believe me, there's money lying all over the place in this country.
 

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Discussion Starter #12
You are dead on. Financial security is more important than any purchase. It's very difficult to make the adult decisions....
Buy the home first and pick up a used Slingshot next year .
No correct answer to offer you - sorry. Partially depends on where you live (weather) experience level (never rode a bike before, or expert rider and sports car experience) and main reason to purchase (secondary vehicle for daily commutes, weekend get-a-ways with other bikers, single or married with no kids and want to get that devil out of your system before the kids come into your life. ....
you all make very good points on house first. but i guess i should include a bit more background on myself...

great steady job, recently single (my bank accounts has been experiencing exponential growth due to this fact), no kids, and in late 20s with all student loans paid off and no CC debt. i am in Orange County CA where a 60k house is as real as a unicorn. last house i looked at was 475k with 1bd 1 ba 1 car garage.

i really REALLY want a SS. but if i were to buy a house first in OC, id probably be the last kid on the block with a SS... maybe i could be the first owner of a 2nd or 8th gen SS.. lol

never had good luck with second hand cars. perhaps due to the fact the only used cars ive bought were "fun cars" and were tracked and abused and sold by shady craiglisters lol

with that said, i still havent seen a "NO" in the poll results and "YES" is winning by landslide so far ;)
 

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Others have given good financial advice already.

It's really pretty easy if what you say is true. If a year delay on the house is worth it to you, buy the damn SS. But since you are trying to compare it to a car, I suspect your hesitation is really about the SS itself.

My guess is that if you are unsure about the SS, it isn't for you. Either the concept does it for you or it doesn't. It's a very digital thing IMO.
 

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House's are a investment.
One hope's it'll increase in value.
Banks look favorably at prospective buyers putting 20% down.
It will also usually get a better loan rate.
You said you could pay cash. Is this money coming out of your down payment.
Another point. You said it would delay your ability to buy a house for a 1-2 year time frame.
In this time frame with the economy improving, what happens to your desire to purchase a house especial in OC if interest rates jump 1-1.5 percentage points and a yearly 10% to 15% gain in home values for your area.
This could knock you out of the market. Banks add all outstanding depth into their calculations when approving your loan amount. Say
you get approved, your all excited.
Decide to celebrate go out and buy something were you take out a 1-2 year loan for what ever you splurged on.
You had found the house you were buying before this event.
The big day approaches for your closing, bank calls sorry sir but your loan approval has been cancelled do to a income to value ratio change. The reason sir is because of your recent loan.
One always has to know and remember first hand is banks Always run a last minute credit check to make sure nothing has changed since they approved your loan.
Seen it happen on just $1000 loan.

It really comes down to your own priorities. What's the most important.

It's your decision.
Good luck.
 

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Everyone already commented on finances so I won't beat a dead horse........You're a smart guy. If you can swing it without struggle or sacrifice, get it! You only live once.
 

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Two schools of thought come to my mind.
1. Live life to the fullest and enjoy as much as you can while you are young. Go ahead and get the toy.
2. Save and prepare for the future and enjoy a worry free retirement. Buy the house and put buying toys off.

It all depends upon your lifestyle and philosophy. Myself, I am a planner, saver and prepare for the future kind of person. I am two 1/2 years away from retirement, almost debt free including two houses and am getting my toys lined up to enjoy the hard earned years of leisure that I can see on the horizon. When I was your age I finished college, moved up in my career, raised the kids, etc. I do not regret one single minute of it. Now it is my time to enjoy the rest of my life.

Basically do what suits you best.
 

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Go with your gut, do whatever you want. I bought my first house in 2006, how much security do you think that's given me? When you find something you like, go for it.
 

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If you dont want to drop 25k or more right now, look at a used Boxster S. Great car, quick, and really fun to drive. Just not unique.
Maybe an older base model. I had a great 99 that I paid 12k for.
Best 12k I ever spent.
Then after the house get a SS.
Or damn it all and just get a SS now.
 

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i am in Orange County CA where a 60k house is as real as a unicorn. last house i looked at was 475k with 1bd 1 ba 1 car garage.
Since asking total strangers for advice, I figure, what the hell. I would take the cash and move out of California. Then you could buy you a 4 bedroom house, an SS, an HD, a jet ski, a snow mobile, a swimming pool and have gas money left over compared to what you are looking to spend on a house. And divorces are much cheaper elsewhere. You think I'm kidding but if you were one of my sons, I'd tell you the same thing.

Your income may be twice the national average but if your cost of living is four times the national average, what's the point? Admittedly, California is probably the most beautiful state in the union...but when you look at it through the lens of the political atmosphere, taxes, debt, regulation, BS, it isn't so attractive...and down right ugly...unfortunately...and can't see it getting better any time soon and probably worse. The juice just isn't worth the squeeze. When you say "if I don't buy one now"...it sounds like you are signing your own death warrant for a house. Trust me, you don't want to work day in and day out just to get by and have a "box" with a rack in it. There's more to life than just that.

I voted no...the reason you have so many yes votes is because there is nothing a drunk likes better than another drunk.

Whether you know it or not...you are at a major fork in your road...and sounds like you still have the freedom to make a choice...if you can consider dropping $475K on a 1BR 1BA house...you ought to be able to drop $30K on a bar room floor and never miss it. I don't know you from Adam but I hate to see anyone inadvertently find themselves roped into a tough situation...especially that tough for that long...and just walk into it voluntarily. My oldest son graduated 2.5 years ago with a Mech. Eng. degree...he just bought and paid for a house (9 years old) on 4 acres of land...3 acres of that behind a privacy fence with a matching 40'x60' shop with 12' ceilings for $120K. For comparison, his house cost roughly 1.6 times his annual income as a young engineer. Granted, it's not in Orange County...but he has no debt, a nice, paid for Avalanche and a 3LT C7 on order. He just got back from a two week screw-off trip to Bangkok with a couple of his buddies he graduated with...the reason for the trip was based on the "Hangover" movie...so not cramping his style. They are planning on Amsterdam or Indonesia next. Can't speak for California, but it's a buyer's market on this end of the country as it pertains to houses. Then, what do you do when you meet Miss Right and then Jr. comes along?

Unless you have really, really deep roots in OC or your career is based on something so specialized to that area that you can't find employment anywhere else, you owe it to yourself to look around the country. I own a business (a corporation) and work in 30+ states, including California recently. The jobs were in El Centro...east of San Diego. The work was taxed similar to other states but at a much higher rate which was charged back to the customer...then, I got a bill taxing my personal income based on money I personally made in California??? (again, not an LLC) which was a shocker...I was beginning to wonder if my employees that built the equipment here in our shop were going to be taxed personally by California for making money off a job based in that state. When gasoline was $3.00 a gallon here, it was over $5.00 a gallon there. I've decided if I get the opportunity to work in California again, I'm going to take a pass on it...I don't need work that bad as to put up with all that BS. Felt like I was doing business in a foreign, third-world, banana republic where a crack whore stumbled on my credit card information.

Nobody likes their toys more than I do...but if you ever want another toy after the SS, there is a better way. I barely escaped high school and have survived 3 divorces...so far. The secret to living a long life is to try not to shorten it...the secret to a fun life is set it up where it can be.

19 motorcycles, 6 motorcycle trailers, a Morgan reverse three wheeler...a titanium SS due any minute, day, week, month....hell, who knows...but I am going to wait.






3 C7's




Couple of trailers...




Do California SlingShots come standard with a LoJack or two?

If you want to get out and see this quadrant of the country...PM me...I've got a vacant "bunkhouse" apartment that you are welcome to stay in and I'll show you what $475K will get you in this part of the world. If you moved out of California, they'll still let you come back and visit.

Z
 
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