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Thread: Sharing Information on Loans

  1. #1
    Soap
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    Default Sharing Information on Loans



    Good Day Riders

    I made a quick search on personal loan and usually came back disappointed as most threads are old.
    I hope this can provide necessary information to riders who intend to buy from a private seller.
    Either that, I'm poor at searching. Anyway, I hope this thread will be beneficial for all who is looking for loan to get a motorcycle from a private seller.

    I will not include any documentation needed (e.g.: 3 months payslip) as it may vary with different merchants.
    I am not affiliated to any of the shops below. Please don't hold me responsible.
    Do exercise due diligence and check whether the interest rate is based on SIR or EIR.


    Merchant: Bike Production
    Interest: 5%
    Processing Fee: ?
    Special Requirement:
    to my knowledge, interest may vary due to duration of loan.


    Merchant: Hitachi Capital
    Interest: 7.5%
    Processing Fee: ?
    Special Requirement: N/A


    Merchant: Sin Heng Credit
    Interest: 5%
    Processing Fee: ?
    Special Requirement: N/A


    Merchant: Unique Motorsports
    Interest:
    8% (less than 5 year old bike)
    0% (more than 5 year old bike with UOB Credit Card Installment Scheme)
    Processing Fee: 15%
    Special Requirement: N/A


    Merchant: UOB Bank
    Interest: 7.25%
    Processing Fee: Zero dollars
    Special Requirement: UOB Credit Card


    Merchant: Family members
    Interest: 0%
    Processing Fee: Zero dollars
    Special Requirement: Biological Child


    If anyone intends to contribute, do reply in this thread and I will update necessarily.
    Also, do leave feedback on the shops if you had any experience with them.

    Information are correct as of 01022016.
    Last edited by Soap; 02-02-2016 at 12:30 AM.
    08/07/2010: 2B ; 09/05/2011: 3 ; 25/08/2011: 2a ; 29/01/2013: 2

    20/07/2010 - 29/10/2011: Roadwin R125
    21/11/2011 - : YZF-R15
    23/12/2015 - 29/06/2017: BMW S1000RR
    09/02/2018 - : Ducati 1198SP

    Looking for plate no. FV1317T

  2. #2
    joehani
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    Default

    Wow
    Thanks for sharing
    Smiles

     

     
  3. #3
    FireGunz
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    Default

    Wow... thank for sharing.

    Sent from my SM-N9005 using Tapatalk

  4. #4
    Hydher
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    Dragstar 400 classic & Zx6r

  5. #5
    Soap
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    Quote Originally Posted by Hydher View Post
    thanks alot! completely forgot about them.
    08/07/2010: 2B ; 09/05/2011: 3 ; 25/08/2011: 2a ; 29/01/2013: 2

    20/07/2010 - 29/10/2011: Roadwin R125
    21/11/2011 - : YZF-R15
    23/12/2015 - 29/06/2017: BMW S1000RR
    09/02/2018 - : Ducati 1198SP

    Looking for plate no. FV1317T

  6. #6
    muhamadas
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    Default Finding loan for old bike.

    Quote Originally Posted by Soap View Post
    Good Day Riders

    I made a quick search on personal loan and usually came back disappointed as most threads are old.
    I hope this can provide necessary information to riders who intend to buy from a private seller.
    Either that, I'm poor at searching. Anyway, I hope this thread will be beneficial for all who is looking for loan to get a motorcycle from a private seller.

    I will not include any documentation needed (e.g.: 3 months payslip) as it may vary with different merchants.
    I am not affiliated to any of the shops below. Please don't hold me responsible.
    Do exercise due diligence and check whether the interest rate is based on SIR or EIR.


    Merchant: Bike Production
    Interest: 5%
    Processing Fee: ?
    Special Requirement:
    to my knowledge, interest may vary due to duration of loan.


    Merchant: Hitachi Capital
    Interest: 7.5%
    Processing Fee: ?
    Special Requirement: N/A


    Merchant: Sin Heng Credit
    Interest: 5%
    Processing Fee: ?
    Special Requirement: N/A


    Merchant: Unique Motorsports
    Interest:
    8% (less than 5 year old bike)
    0% (more than 5 year old bike with UOB Credit Card Installment Scheme)
    Processing Fee: 15%
    Special Requirement: N/A


    Merchant: UOB Bank
    Interest: 7.25%
    Processing Fee: Zero dollars
    Special Requirement: UOB Credit Card


    Merchant: Family members
    Interest: 0%
    Processing Fee: Zero dollars
    Special Requirement: Biological Child


    If anyone intends to contribute, do reply in this thread and I will update necessarily.
    Also, do leave feedback on the shops if you had any experience with them.

    Information are correct as of 01022016.
    Any of these merchants able to loan for bikes more than 10 years? Keen on getting a ducati monster 400.

  7. #7
    Soap
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    Default

    Quote Originally Posted by muhamadas View Post
    Any of these merchants able to loan for bikes more than 10 years? Keen on getting a ducati monster 400.
    good day, thank you for reviving an old thread.

    to your question, you can check with FTA Performance. we were quoted over the past weekend that the interest rate is at 6.5%.
    you can give them a call to check.



    your choice of bike is great but i witness first hand the pain of trying to maintain the old monster (M900) so i hope you do reconsider :/
    hope you find a well conditioned M400.
    08/07/2010: 2B ; 09/05/2011: 3 ; 25/08/2011: 2a ; 29/01/2013: 2

    20/07/2010 - 29/10/2011: Roadwin R125
    21/11/2011 - : YZF-R15
    23/12/2015 - 29/06/2017: BMW S1000RR
    09/02/2018 - : Ducati 1198SP

    Looking for plate no. FV1317T

  8. #8
    Soap
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    will try to update this thread soon once my exams are over.
    08/07/2010: 2B ; 09/05/2011: 3 ; 25/08/2011: 2a ; 29/01/2013: 2

    20/07/2010 - 29/10/2011: Roadwin R125
    21/11/2011 - : YZF-R15
    23/12/2015 - 29/06/2017: BMW S1000RR
    09/02/2018 - : Ducati 1198SP

    Looking for plate no. FV1317T

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