Reloan: Transparent

[keong84]

Heh guys, any1 got any idea if students can take a loan? Cuz I still in University la. Was wondering if can get a loan for my upcoming 2nd hand bike?

[philiplolc]

Originally posted by keong84@Jan 18 2006, 09:59 PM

Heh guys, any1 got any idea if students can take a loan? Cuz I still in University la. Was wondering if can get a loan for my upcoming 2nd hand bike?

its on a case by case basis... depending many factors. just call Germaine at 62920004 and ask her, she'll assess and let you know. Very friendly chabor.

[StingRhea]

NS not stable income~

[keong84]

Originally posted by philiplolc@Jan 19 2006, 07:51 AM

its on a case by case basis... depending many factors. just call Germaine at 62920004 and ask her, she'll assess and let you know. Very friendly chabor.

Hey thanks for the info, I'll call her soon..

[myxilplix]

Just adding to the positive reviews for Pleasure Motorsports. Got my loan from them and Miss Chan was very clear on exactly what was going on. She's also very helpful whenever i have silly questions about insurance and stuff.

 

Plus my bike is maintained there =)

[antonioshabirto]

EVen though Loan is transparent and admin charges are cheap..... but HER SERVICES Sucks!!!!!! She looks down on my buyer who ask for loan.....

 

She gave stuck up remarks and never advise my buyer anything.....

 

Even though i know em very well and have services some of us mid income well.... i gave them a thumps down for her attitude!!!!

[lamerass85]

They seem really busy de sia. Called to ask 2x then say got customer. Say wanna call back then haven call back. Seems to be a little attitude... but mebbe just bz. Will wait and see if they call back or not.

[lo-on]

Originally posted by antonioshabirto@Jan 24 2006, 05:02 PM

EVen though Loan is transparent and admin charges are cheap..... but HER SERVICES Sucks!!!!!! She looks down on my buyer who ask for loan.....

 

She gave stuck up remarks and never advise my buyer anything.....

 

Even though i know em very well and have services some of us mid income well.... i gave them a thumps down for her attitude!!!!

Loans given in Pleasure MotorSports are subjected to aproval and assesment by their management ....

[MiCmAsTa]

You guys must understand... She is working alone only... No Assistant what so ever... So, try to be a bit understanding... Not Stuck-up or what. Best is to go down prsonnally. She is just stating the facts. If your income level really not that good, she will advise you not to commit into a loan with them. They dun want to sue you @ the end of the day for not paying installments.

[davidww81]

one bad thing abt them,u loan from them, halfway wanna push the bike back to them,they will tell u tat they dun eat bike. have to die die full settlement or find private owner .But have to access the buyer.

[Mr.Cheong]

Originally posted by davidww81@Jan 25 2006, 07:44 PM

one bad thing abt them,u loan from them, halfway wanna push the bike back to them,they will tell u tat they dun eat bike. have to die die full settlement or find private owner .But have to access the buyer.

 

 

You shld do your homework b4 getting loan. If not get loan at bikeshop where u can trade ur bike. Normally, u get better offer from private buyer. No effort no gain. If not then let bikeshop chop/eat u loh.

[eFzek17]

Bros, i to know more about this reloan thingy. Im not so sure but i to reconfirm myself. i will give u all a senario n see whether what im thinking is right or not.

 

A want to sell his bike to B for 15k (instalment left - 10k, A wants 5k cash). A decided if B wanted to buy A's bike, B need to pay the transfer fee, B's new insurance (is that all for a transfer agreement excluded the price of the bike). So B decide to pay the transfer fee n his new insurance. Due to low budget, he can ask for a reloan at a reloan company for 15k for his payment of A's bike(am i right?). That means A will get the 5k from the reloan company correct?

 

So for repayment, B have to pay back the reloan company the 15k + interest for the number of years B wants.

 

So bro this is what i think about the reloan thingy, maybe u all can assist me as i may face this senario.. thanks

[LuncheonMeat]

hmmmm.... but the reloan company have to access the bike 1st before they decides whether is it worth to loan @ the amount which A is selling right?

[wacko]

yes..

the re loan company will assess the bike whether the bike is worth the money loan or not..

they can't just loan any amount ...

so lets say..

B wants the bike for 15k...

then the reloan company assess the bike at 10k..

the balance of 5k will be topped up by A..

[NinGzz]

anybody has the phone number for pleasure motorsports??

 

is it still the same after it had moved??

[Guest 6.5rpm]

guys.. need to know something abt them, are they selling bikes?? lol.. seem abit noob ques here, nv been there b4, hope someone can giv me their address so can visit them somedays.. thanks..

[LuncheonMeat]

hmmm... saw their ad on the newspaper.. but im not very sure whether is it @ this place or not... pls call up & check it out 1st~

 

Pleasure Motorsports

Tel: 67454545

Add: UBI Blk 3007 #01-418

[lo-on]

Originally posted by LuncheonMeat@Feb 5 2006, 09:55 AM

Pleasure Motorsports

Tel: 67454545

Add: UBI Blk 3007 #01-418

Yes bro u are right!

 

That is their new address and contact no ....

[Guest tookara]

I have an EP stops all of them from letting me finance... you w

 

One of the very few minutiae disadvantages of being a white guy in singapore. cheer up dude. plenty of other perks abound.

[ambasnakeman]

so do they still have these class 2a and 2 bikes only?

do they reloan the whole sum?

[wacko]

Originally posted by ambasnakeman+Feb 6 2006, 01:34 PM-->

QUOTE (ambasnakeman @ Feb 6 2006, 01:34 PM)

so do they still have these class 2a and 2 bikes only? do they reloan the whole sum? [/b] yo amba.. they do reloan for 2b bikes.. i asked them already.. loan full amount not sure.. as they have to assess the bike first.. have to bring the bike down to be assess by them... for eg..

[TheYasMan]

Sorry, might sound a lil noobish a qn, but will the place help to settle ALL paperwork and money, which includes -

 

1. Bike

2. Transfer fee

3. Insurance, etc ???

 

I'm about to get my license soon and plan to hook a pvte owner, and im not so sure about what exactly has to be done for me to just start riding. If the shop settles everything for clients and all we need to do is understand and pay, that'll be lovely.

 

Someone get back to me on this one please?

Thanks!

[karmatrix]

yes, all the paperwork and leg run is done by them, you just need to pay, sign the necessary documents and provide ur IC..

[TheYasMan]

WOW!

And then, i'm able to ride without worrying about anymore documents?!

Amazing. This shop sounds good.

Just wondering though. Do they have any sort of criterias that our guarantor has to fill? Decent, stable pay of at least $2K is good enough, right?

[chickenbackside]

Originally posted by misterbean@Jan 11 2006, 04:36 PM

Stereotyping is when you assume all bikers are poor. Here, I am comparing an average biker to an average car owner.

 

My assumptions:-

 

1) The average biker is likely to earn less than the average car owner. This is a critical assumption becos it means they have different credit risk profiles.

 

2) There is a higher chance that a biker will die/suffer permanent disability from the use of his machine. Probability that there is a total loss in the value of HP asset is also higher. When this happens, you will need to fall back on debt recovery from the disabled person or the guarantor. More complications? Additional legal procedures and fees? I would think so.

 

3) Personally, I would rather deal with one customer who has satisfied all my credit assessment criteria rather than to deal with 10 bikers whose credit risk are not assessed at all. As to why bikers credit risk are not assessed, think of the no. of bikers who will fail to secure a loan if they need to submit proof of income. Which also goes back to explain my first assumption.

 

Your case is a bit special because you actually have credit risk that qualifies you for a car loan. So you find yourself paying a lower rate of interest on the larger quantum. But a lot of bikers out there may not share the same credit ratings. And unfortunately, bike shops or finance companies are not giving preferential rates to those with good credit ratings. At least, not yet

Do you know which companies give preferential rates to people who already own cars? Or if I can approach the loan company for my car to finance a bike purchase? I don't think they do bike business bt default.

 

Thinking of buying a Triumph Speed Triple and if the interest rate is low enough, I'll take out a loan. Otherwise, will need to just bite the bullet and pay in full cos 5% is ridiculous to me. I only pay 2.7% for my car.