My Biggest Purchase Fail Ever – A Super Bicycle

Jan 28, 2017 | Financial Freedom, Freedom

Todayโ€™s fail post comes to you courtesy of Mr. Saturdayโ€™s younger 20-something-year-old self. (As opposed to Mrs. Saturdayโ€™s younger self, since she was exceedingly more responsible than me!)

To start off with, Mr. Money Mustache would highly agree with me that we need to ride our bicycles more often. Cruising around in high-powered wheelchairs with cushy seats doesnโ€™t make a lot of sense if youโ€™re commuting a couple of miles. We could all work a little harder on this goal for sure.

So back in the early 2000โ€™s, I worked for a local electronics store which was 5.7 miles from my house one-way. I was in college not making too bad of a salespersonโ€™s pay, but was already starting to be heavily in debt with credit cards without realizing how hard it was going to be to dig myself out of that mess. Since I was in school, I was buying textbooks of course, but other โ€œfunโ€ items started making their way onto my credit card balance. But hey! Those didnโ€™t have to be paid off until the future! It would be okay.

I never paid my credit card late and was starting to be a whiz at transferring balances to keep my interest rate low. At some point though, I started to get into the mindset that I needed to pare down expenses. So what could I save money on?

How about riding my bicycle to work instead of paying for all that gas? A novel idea was forming.

I could get back some of the fitness I had lost since high school from the years that were ticking by of driving my car instead of using my muscles. A tiny seed of an idea was sprouting in my brain and it was starting to get exciting.

So I thought Iโ€™d test this out. One day I hopped on my old beater bicycle and rode it all the way to work (even through the sketchy part of town on a hot day). Midway to work after jumping a curb, I started pedaling and my chain bounces off and sadly hangs there while I’m uselessly pedaling. How frustrating. I pulled over, grabbed the chain, and coaxed it back on while getting my hands greasy from the built up grime caked onto it. I arrived at work dirty, sweaty, and a little tired from the effort it took to pedal a heavy steel bicycle almost 6 miles in the Florida summer heat.

This old bicycle wasnโ€™t going to cut it. I mean:

  • It broke down on me in a bad area on the way to work
  • The alignment was off a bit
  • The brakes needed adjusting
  • It was heavy
  • It was dirty
  • It was old

I mean look at that list! That was the last straw. It was time for a new bicycle that would solve all of my problems and make the world a better place at the same time!

I started researching online to see what other people were riding and suggesting as โ€œthe best bicycle.โ€ There were all kinds of bicycles available for speed, mountain biking, commuting, beach cruising, and any other number of uses. I had grown up with mountain bikes so I knew thatโ€™s what I wanted. I mean, I know thereโ€™s not mountains in Central Florida, but just in case! You never know.

After many hours and days of searching, for some reason the Cannondale brand was sticking in my head. This company had an aura about it that resonated with me. It was adventurous and sexy. One particular Cannondale model stood out to me above all others – the Cannondale Raven 2000 โ€œLefty.โ€

Cannondale Raven 2000 Lefty Bicycle

This incredible piece of engineering had a carbon fiber body, disc brakes like a motorcycle, and a very unique shock and fork system the likes of which I had never seen. Instead of a normal front fork, there was only one side that held onto the wheel that created an intriguing look. To add onto this, the main shock absorber was state-of-the-art with an electronic control system.

Electronic shock absorber system on Cannondale bicycle

With the simple push of a button it would engage the shock absorber to cruise over any bump with ease. Press it again and it would solidify the shaft making it solid instead of springy. WHAT??

All of this, for a sticker price of only $3,500!

If you break down the savings that Iโ€™d get from riding my bike for years on end instead of driving my car, that would save a small portion of the cost. (and Iโ€™d be getting fit at the same time!) Also, letโ€™s not forget, this wasnโ€™t actually $3500. If you break it down over 2 years, itโ€™s more like $145 per month, or actually 3 years sounds a little more reasonable at $97 per month.

Thatโ€™s more like it – SOLD!

I walked into my local bicycle shop, told the excited owner to custom order me one Cannondale Lefty super bicycle and Iโ€™d be one happy customer. He informed me that the sale was final, but that was okay because this was the best purchase I was ever going to make!

Shut up and take my money meme

A couple of antagonizing weeks later the bike finally came in, was set up at the shop, and I was informed that I was the proud owner of an incredible machine and it was ready for me to pick it up. I couldnโ€™t wait to get it out on the road. I loaded it up in the car, took it home, and finally at long last the efforts of my future-labor were mine.

Time for a test drive.

I get on it and start pedaling down the road and immediately Iโ€™m taken aback by how incredibly light the bike is. Itโ€™s so much lighter than I ever expected that I almost wish it was heavier because it was strange to get used to. I squeeze the brakes and the superb disc brakes stop without hesitation. Incredible.

Disc brakes on a Cannondale bike

I press the electronic button in the middle of the handlebars for the shock absorber and hear the solenoid disengage to give a squishy, springy feel. I press it again and then itโ€™s solid! Weird, but I guess Iโ€™ll get use to that.

Over the next week, I ride it here and there and take it to work a couple of times. On one occasion, I get a gawking teenager who knew what a Cannondale bike was and his head turned as I went by. When I got to work, I brought it in, secure it, and went about my work day with the joy of knowing Iโ€™d be riding this beast home in the dark.

A few weeks go by and the shininess begins to dull a bit and the thought of riding my bike to work again starts to lose its appeal. Oh well, at least Iโ€™ll have fun riding it on the weekends. Months go by. Iโ€™m still riding it, but the credit card has ballooned a little more and the thought occurs to me that maybe this might have been a bad idea. ย :-/

There are no bad ideas funny meme

How can I correct this mistake and get out of this? I wished I could just return it to the bike shop, but this sale was final remember?!? Well, it was fun while it lasted. After some deliberation and realization that my credit card wasnโ€™t going to solve itself, I decide to cut my losses and sell the bike on eBay. The bike sold for $2100 with 40 miles on it.

Cannondale bike for sale

Purchase price: $3500 (interest doesnโ€™t count does it?)

Selling price: $2100

End result: I rented a super bicycle for $1400

(or if you break it down by the mile – $35/mile)

Lesson learned?

โ€œDonโ€™t rationalize irrational purchases.โ€

Especially something youโ€™re going to get tired of and stop using.

 

:::: A YEAR OR SO PASSES ::::

Now, a motorcycle.* I donโ€™t think I could get tired of that. I wonder what people are riding these days? And blue has always been my favorite color. ย ๐Ÿ˜€

*It was probably a dumb purchase, but to my credit, the brand-new 2002 Yamaha R6 motorcycle I bought in 2001 – I still have 16 years later with 30,000+ miles on it. Although, itโ€™s been on garage duty for some time now due to maintenance (like all motorcycles do).

My Biggest Purchase Fail Ever - A Super Bicycle

Do you have any purchase fails that you look back and shake your head at?


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7 Comments

  1. Mrs. Picky Pincher

    Aghhh, you poor thing! It sucks because, by many accounts, a super bicycle makes more sense than a vehicle. Sometimes you can’t tell if it’s a bad purchase until it’s too late, unfortunately. We all learn, right? ๐Ÿ™‚ Sorry it didn’t work out!

    As far as my purchase fail … hm. I would say keeping a $450/mo car payment. I had a neat little Honda Fit that my dad and I bought together–but the payments for two other cars were rolled into this payment. I kept the car after I got out of college and the monthly payments were killing me. Eventually we got rid of the car and opted for a paid-off truck in its place. Phew. I definitely learned my lesson: no more financing cars!!

    Reply
    • Mr. Saturday

      I know right? At the time it sounded like a good idea, but I probably should have stuck to my old bicycle. Oh well! Lol.

      Oh wow, I looked real hard at a Honda Fit and had almost got one to commute in since it was great on gas and flexible with the interior. I ended up getting a Scion xD instead with 5 year financing instead. ๐Ÿ˜› Just over 2 years later, I paid off the car and decided never to do that again! You’re right though, a car payment really weighs you down. I think there’s so many people that buy way too much car for what they need!

      Reply
  2. Mustard Seed Money

    I bought a used Honda Prelude instead of the car that I really wanted which was a used Honda S2000. If I had thought about resale value the market was much higher for the Honda S2000 which based off of today’s prices would have probably ended up making me money at the time. Instead the Honda Prelude depreciated by almost half. My wife also hated the car and I could have enjoyed a convertible before kids ๐Ÿ™‚

    Reply
    • Mr. Saturday

      Oh wow, I remember Honda Preludes! I happened to be in a car club (haha) back in the day and one person in our group had one. They put neon and all kinds of electronics in it. It seemed like a cool car at the time, but it’s funny how you look back and laugh. I guess you never know which cars will go up in value though. Toyota Supras still seem very popular too.

      Reply
  3. Joe

    So you used it 3x
    Are you kidding me?
    40 miles is something I do on a weekend ride and Iโ€™m over 50.

    Reply
  4. Chris

    I feel yeah, I bought a 1994 Cannodale Super V for too much money. I kept it and I still ride it today. I don’t plan on selling it.

    Reply
    • Mr. Saturday

      Nice! It was a cool bike that I kind of wish I had today to ride. Enjoy it! We plan on getting better bicycles in the future, but ones that are a bit more in our budget.

      Reply

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