>>>> How did you pay for your Sled???

[ARMYSLEDER]

I was wondering how many of you pay cash for sleds or finance and upgrade and just keep it a reasonable balance.

 

[Wheel House Motorsports]

$0.... if you cant pay to play... you get the point, i barely like financing my new to me truck. I know a few folks who make the min payments on the sleds they financed and the sled is loosing value about 2x as fast as its getting paid off... they dont realize how dumb it is until there sled is totally worn out and they still owe money after they sell it. guess i just like owning MY stuff.

This is also why i build my own stuff, i cant afford even reasonably new, let alone modded new, so i gotta get creative and let my brain make my sled better, not my pockets.

 

[snowmobiler]

if you dont have it,charge it.

 

[jzanc532]

All cash

 

[mtnpull]

I run all my equipment (snowmobiles) on a equipment loan. I pay a hefty down payment on all equipment at time of purchase and pay off a significant amount each month. I always have equity in my equipment despite it's rapid depreciation.

 

[Mafesto]

The water is pretty murky on this one.
I'm sure some will say they owe nothing on their sled, but have a running HELOC.
In reality, you are either "in debt" or "debt free".
It's one or the other.
Heck I'm sure many of us use "business financing" to pay to play.

 

[Jaynelson]

The water is pretty murky on this one.
I'm sure some will say they owe nothing on their sled, but have a running HELOC.

EXACTLY.....so many people are using LOC's to buy cars, trucks and toys these days and will tell you they "paid cash." Not very accurate IMO.

I threw my sled on my LOC because I knew I had some money coming due 3 months down the road at the time. It was making more than the 3% the LOC was charging....sooo not point in rushing it. Now it's paid off....so I guess I'm somewhere in the middle.

Trust the cars salesman tho.....this is a subject with a VERY VERY high concentration of lying. So don't expect an accurate poll. Everyone wants to brag about how they paid cash....most people don't want to brag about "oh ya I took the $300/month for 84 months financing plan, seemed like a great deal!" But lots of sleds and other toys are bought that way....I would actually say the majority.

Most of the flashy lifted up trucks and fancy high-dollar mod sleds are bought with either big money or bigger loans....guys with average incomes who save up to pay cash are usually too smart to waste money on that junk.

 

[longtrack156]

Tend not to buy the newest, but pay cash.

 

[PJ-Hunter]

The water is pretty murky on this one.
I'm sure some will say they owe nothing on their sled, but have a running HELOC.
In reality, you are either "in debt" or "debt free".
It's one or the other.
Heck I'm sure many of us use "business financing" to pay to play.

You hit the nail on the head Bill.

I know a lot of guys who buy toys/trailers, throw a company name on the side and waa laa, instant write off. Then in the next breath they say they paid cash, then in the next breath whine about prices of everything.

I financed my sled, waited 5 months then refinanced under a real bank at a low interest rate.

All of us love to play, but most of us cannot afford to drop 12k on a new sled. You only live once, if you waste it waiting around for 12k to be saved up, it's passing you by. Plus, it never fails, you get money saved up for something, ie a turbo and then something else pops up, like vehicle repairs or busted fridge, washer, dryer, hot water heaters, etc...

My ATVs are paid for, my bike is paid for. my wife's sled is paid for and my truck will be paid off next year.

 

[94fordguy]

Tend not to buy the newest, but pay cash.

X2.

buy used and pay cash... It's a lot easier to swallow the price of a used item after somebody else took the big hit than it is to buy brand new.

 

[SledGimp]

When I had money, bought mine on my amex card to get the skymiles then paid it off within a week.

 

[24drnkz]

Cash burns holes in my pockets and credit will kill you on toys likes these..CA$H always

 

[Mattxp]

clicked the wrong one, whatever ha. Now i pay cash on my difference from sled to sled. Work all summer and put some on the side.

 

[go high fast]

personal rule for me is no debt for toys including automobiles......only for education and home.

 

[sledheadjake]

I financed through my credit union on used sleds with killer interest rates, I never buy new.I buy a sled then ride it for 6 years then upgrade again,i always pay my loan off with in 2 years!

 

[polaris dude]

I paid cash for my sled. Debt isn't really an option for me and my Dad always told me the only things to ever go into debt for is a house or a truck

 

[clarkwinsor]

i financed, not ashamed to say it. im a regular guy who works a regular job making regular money....if you were to look at my t4 chances are you would think my hobbies are things like knitting, and watching clouds go by.....but thanks to a couple john henrys i got a new sled and a giant pile of warranty... ill drink to financing any day of the week......

 

[hivoltagesledhead]

Buy good used or import for cheap and always cash...then more cash....and more cash.

 

[-lenny-]

My 08 m1k is paid for. I want a new m8 turbo, but don't have enough saved yet. Hope to get one for the 12/13 season. Cash up front. Helps avoid impulse purchases if you have to commit to it for a while before you get it. Just like trucks. I would love a 2011 mega cab, but my 08 doesn't have a payment. I don't like the new interior that much! When I was younger I financed a couple motorcycles, and two things really jumped out at me. First was how long it took to pay it off, and second was how much it cost me to borrow that money.

 

[SaskRMK]

Purchased my used 09 with cash at a reasonable price
Its my 09 truck that hauls the sleds which I'm in debt for!