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Thread: Bikes purchased under 0% credit card installment scheme

  1. #1
    gnehsheng
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    Default Bikes purchased under 0% credit card installment scheme



    If my bike was purchased under a 0% credit card installment scheme, is it considered still under financing? As I am still paying the credit card installments, am I able to sell it to a private buyer?

    As I understand a bike cannot transfer ownership while it is under financing.

  2. #2
    pufferfis
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    if you are borrowing straight from the banks such as the 0% balance transfer with or a personal loan..its considered u loan from the banks and no collateral put up and of coz you can sell off the bike since you paid cash straight to the bike shop n it already settled.

    On the other hand...some bike shops do offer the so called 0%credit card scheme but have expensive one time processing fee like 15% which is also considered a personal loan to the banks so ul still be able to sell off your bike...this you have to check with the bike shop... I believe as long as you are paying direct to the banks...its considered a private loan...cheers....
    I ride at 70km/hr only...please please dont blow2 at me or overtake me dangerously....wait i change into Incredible Hulk n dont know why my little baby bike will always be ahead of u if u do that

     

     
  3. #3
    gnehsheng
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    Thanks Puffer. Clarifies a lot of things!

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