Motordiam Installments

[Xiao Zhu]

I'm turning 19 and going NS in 4 months time, I have decided to buy the new 06' RS125 from MAH Motors. I heard that I can pay by installments over at MAH Motors, but not sure if I'm elligible.

 

QNS 1: If both my Parents don't have stable income, neither do they draw >$1500 each per month, would MAH Motors allow me to pay by installments taking into consideration that I would be a Full-Time NS man.

 

Since I'm really crazy over Aprilia and more crazy over their new 06' RS125 model, I don't really mind eating grass for 2 years, anyway, I have some savings of my own. The machine price is $10,600 SGD, assuming that insurance for a 2b bike at my age would not be very expensive, I'm estimating that the NETT price for this dream bike to be $11,500 SGD.

 

QNS 2: If I pay a down payment of $1,500 SGD, I would leave a remaining balance of $10,000 to be paid over 4 years by installments. I would like to know how big motordiams like MAH Motors calculate their intrest. I heard from my friend who owns an Aprilia that if the intrest is 7% a year, its (7+7+7+7)% meaning total of 28% intrest of the $10,000 SGD, meaning I have to pay $2,800 SGD of intrest within this 4 years? Really appriciate if someone could show me an example or do calculate for me the math.

 

Hoping to get some helpful replies! Thanks alot!

[jinhanz]

first of all machines price 10600 insurance lightly to be around 1.5k and not forgeting coe road tax. although its good to pursue ur dream but i believe u will want to upgrade soon especially since u wanna ride a rs125. after u get ur 2a u will realli wanna ride a 250. why not juz get a 2nd hand rs. They are basically the same except design rim brakes and meter. engine and everything else is the same. by the way ur not onli be eating grass. although i will ask u to go for the bike u like, but also go for the bike within ur means

[Guest 6.5rpm]

bro, keep some extra moneys as u'll nvr know when u need it..

 

u need xtra cash for petrol, maintainance n some summons

[fat grape]

Originally posted by 6.5rpm@May 18 2006, 09:36 AM

bro, keep some extra moneys as u'll nvr know when u need it..

 

u need xtra cash for petrol, maintainance n some summons

true. no point feed yr new rs125 wif tonic and ginseng but the owner eat grass

 

like tat how to fully enjoy the fun of riding..

 

for example:

if you get a new bike = eat grass, no extra $$ for movies, dating, clothing, stay at home, etc

 

if you get a 2nd hand bike (cheaper) = can haf spare cash to spare on movies, dating, clothing, entertainment, travel etc. You can enjoy more and at the same time enjoy riding.

 

not worth it bro, personal benefits and interests come 1st. Dunt b tied down by a bike. Listen to the old man..

 

[ulysses_sc]

Originally posted by Xiao Zhu@May 18 2006, 02:45 AM

I'm turning 19 and going NS in 4 months time, I have decided to buy the new 06' RS125 from MAH Motors. I heard that I can pay by installments over at MAH Motors, but not sure if I'm elligible.

 

QNS 1: If both my Parents don't have stable income, neither do they draw >$1500 each per month, would MAH Motors allow me to pay by installments taking into consideration that I would be a Full-Time NS man.

 

Since I'm really crazy over Aprilia and more crazy over their new 06' RS125 model, I don't really mind eating grass for 2 years, anyway, I have some savings of my own. The machine price is $10,600 SGD, assuming that insurance for a 2b bike at my age would not be very expensive, I'm estimating that the NETT price for this dream bike to be $11,500 SGD.

 

QNS 2: If I pay a down payment of $1,500 SGD, I would leave a remaining balance of $10,000 to be paid over 4 years by installments. I would like to know how big motordiams like MAH Motors calculate their intrest. I heard from my friend who owns an Aprilia that if the intrest is 7% a year, its (7+7+7+7)% meaning total of 28% intrest of the $10,000 SGD, meaning I have to pay $2,800 SGD of intrest within this 4 years? Really appriciate if someone could show me an example or do calculate for me the math.

 

Hoping to get some helpful replies! Thanks alot!

Mate, I'll be frank and direct. You cannot afford a new RS125. Period.

 

You are going to NS shortly. NS pay is not fantastic, and I seriously think that the bike will be grossly under-utilised.

 

Do you have an idea of the running costs for a bike? Petrol, 2T, servicing, season parking, ERP, road tax, insurance. All these add up to quite a considerable amount.

 

Insurance for a 19 yr old for Aprillia is unbelivable. Go to NTUC on-line quotation to get an idea of the astronomical premiums. Not to mention, Italian bikes are generally more expensive to maintain than their Japanese counterparts.

 

Moreover, you also mentioned that your folks are not drawing a lot. Don't you think this should be a very compelling factor NOT to indulge in your dreams at this point of time? Using scarce resources ($$) to indulge in your dream bike is an extremely unwise and selfish move. We are talking about money that can and should be used for more urgent needs. Paying instalments for a brand new bike is money down the drain.

 

There is a fine line between wanting a bike and needing one. Sure looks like you are letting your desires get the better of your logical thinking. You WILL be plunging headlong into financial ruin if you do get the bike. Do seriously re-consider.

[kahhwee]

Yr insurence would be abt 1.5K for second party. If under installment, min must buy a second party insurence. Machine price $10.6k + COe $850 est + insurence $1.5k est + Iu $153 + interest sure more then 11600 one.

[Guest 6.5rpm]

actually my suggestion will be, dun buy bike 1st as u going NS cos ns pay really hard to support a bike + urself (trust me, i haf gone true tis period). save up during ur NS, then when u ord u'll atleast haf a 2A liao, then go for rs250 since u mention u're aprillia lover and u'll love the 250 2stroke or even better straight away a class2 (r6, r1, gixxer 1k, gixxer 600, cbr600, cbr1000, kawa 636 even fazer 1000 or fazer 600) see the choices there, is more then 2b n 2a

[innards]

actually yes.... do consider what the bros here have said. afterall, i am sure all of us went through what u are deciding now, and speak from experience. Wise words..

[mctan]

QNS 1: If both my Parents don't have stable income, neither do they draw >$1500 each per month, would MAH Motors allow me to pay by installments taking into consideration that I would be a Full-Time NS man.

 

Normally motorshop does not care how much does your parents earn. They only care whether you pay or installment on time or not.

 

QNS 2: If I pay a down payment of $1,500 SGD, I would leave a remaining balance of $10,000 to be paid over 4 years by installments. I would like to know how big motordiams like MAH Motors calculate their intrest. I heard from my friend who owns an Aprilia that if the intrest is 7% a year, its (7+7+7+7)% meaning total of 28% intrest of the $10,000 SGD, meaning I have to pay $2,800 SGD of intrest within this 4 years? Really appriciate if someone could show me an example or do calculate for me the math.

 

Calculation 1.

machine price $10,600

interest 7% for 4 years = 28%

If you loan 10k> interest = $2,800

Monthly installment =(10,000+2,800)/48months= $266.66

 

Calculation 2.

Yearly insurance = $1,500 for current age

Yearly road tax = $80

Every month = (1,500+$80)/12=$131.66.

 

Calculation 3.

IU unit = $160 (optional)

Handling fee$150(depend on motorshop)

 

During the purchase of this bike. You must get ready at least.

$1500 (insurance) + $40(half yearly road tax) + $150 (handling fee) + $160 (IU)

+$600 reminder machine price + 5% GST around $600 =$2910.

 

Then every month you have to save $266.66 for monthly instalment and $131.66 for next year insurance and road tax.

 

For the above calculation does not included money for petrol, parking, servicing etc

AND its just an estimation.

 

If you think that receive just $350 from NS can afford to pay for all these, not to forget there is one song in the army " Army pay you $1, and they take back 99"

If not, save the money for better usage or upgrade your license to 2A or 2.

 

 

Good luck and enjoy your NS

 

[Xiao Zhu]

Maybe I should get a 2nd hand RS125 first. But just one question if I were to get a 2nd hand RS125, won't there be more mantainance issues due to wear and tear?

 

EDIT: Just saw the calculations above, thanks mctan.

 

Thanks for all the feedback, getting 2nd thoughts about burning a hole in my wallet...

[jinhanz]

ok i will juz say its not very true that aprilia is a problematic bike which i believe many would have told u. Its juz wat u want it to be. u ride like a racer mod ur bike like a racer so u got to pay like a racer. by the way buying 2nd hand bike is like gambling or playing with luck. good or bad realli depends on ur luck unless u go to a motordiam or owner that willing to open every part to show u like the block the bearings clutch whatever. 2nd hand aprilia are damn cheap now but be prepare to pay a lot to do up. how i know, i am riding 1. but getting a first hand is definitely no no. somemore u wun even get to enjoy riding the bike when ur in the army and do expect to fall at one point or another. and ur this belove first hand bike will take a lot to do up especially when there is a scarce of 2nd hand part. If u realli wanna get a 2nd hand 125. u can join the aprilia thread. or if u have any problem or wanna view bike can pm mi lohz i try to help.

[kiss29]

Yes....RS125 '06.....what a beauty.

[sgren]

Originally posted by Xiao Zhu@May 18 2006, 01:02 PM

Maybe I should get a 2nd hand RS125 first. But just one question if I were to get a 2nd hand RS125, won't there be more mantainance issues due to wear and tear?

 

EDIT: Just saw the calculations above, thanks mctan.

 

Thanks for all the feedback, getting 2nd thoughts about burning a hole in my wallet...

Take note that during your BMT months, your bike will be sitting idle waiting for you to ride it on Sat/Sun/Holidays only.

[c y au]

hi bro,

in yr situation if really wan as transport mode then get a kup kia or wat cos EVERYTHING is cheap(road tax, ins,petrol............) all the best:thumb:

[fnee]

another aprilia fan.. haha

 

well when i first started reading the forums, i so wanted a first hand 05 aprilia too.. but after going Mah and reading up on the bike.. i realised it would be very foolish to buy a first hand bike UNLESS you plan to ride it for like... 5 years and above? cause you'll lose about half the price of the bike when you sell. like what some have said, get a 2nd hand one. good conditioned 2nd hand aprilias are not really that hard to find. go the the aprilia thread and ask around, they'll be willing to help i'm sure. there are some guys also planning on selling their bikes, you can try getting from them as well. shops generally sell 2nd hand aprilia at damn high prices + the condition of the bike is usually unknown.

 

read the aprilia thread, you'll learn alot.. (:

[jhawk2820]

Originally posted by Xiao Zhu@May 18 2006, 02:45 AM

I'm turning 19 and going NS in 4 months time, I have decided to buy the new 06' RS125 from MAH Motors. I heard that I can pay by installments over at MAH Motors, but not sure if I'm elligible.

 

QNS 1: If both my Parents don't have stable income, neither do they draw >$1500 each per month, would MAH Motors allow me to pay by installments taking into consideration that I would be a Full-Time NS man.

 

Since I'm really crazy over Aprilia and more crazy over their new 06' RS125 model, I don't really mind eating grass for 2 years, anyway, I have some savings of my own. The machine price is $10,600 SGD, assuming that insurance for a 2b bike at my age would not be very expensive, I'm estimating that the NETT price for this dream bike to be $11,500 SGD.

 

QNS 2: If I pay a down payment of $1,500 SGD, I would leave a remaining balance of $10,000 to be paid over 4 years by installments. I would like to know how big motordiams like MAH Motors calculate their intrest. I heard from my friend who owns an Aprilia that if the intrest is 7% a year, its (7+7+7+7)% meaning total of 28% intrest of the $10,000 SGD, meaning I have to pay $2,800 SGD of intrest within this 4 years? Really appriciate if someone could show me an example or do calculate for me the math.

 

Hoping to get some helpful replies! Thanks alot!

bro,

 

be more realitic.

buy bike is easy, but maintenance is the most headach part.

 

every month, you need to paid your installment, fuel, 2T and set a some of money for servicing. with your monthly NS paid dont think you left any cash for yourself.

 

and Aprilia stuff are not cheap either.

 

why not settle down a cheaper and lower maintenance cost bike like wave or pulsar or getting a 2nd hand bike.

 

buying expensive bike and only can ride during the weekend during your NS days, i think its also a waste of money too.

 

wait till you save enough, then upgrade to better bike.

 

think that will be a better choice for you

[Roadrunner71]

Is this Xiao Zhu guy for real or what?

 

He's 19, abt to enter NS, with not-so-rich parents, and he's considering buying an Italian-made 2-stroke sportsbike that's expensive to buy and expensive to maintain.

 

I'm 35, holding a stable govt job, earning 4K, and yet I'm just considering to buy the fake sportsbike Honda CBR150 - 4-stroke, Thai-made and costs less than half the price of the Aprilia RS125.

 

Geez, what's the world coming to with today's youngsters?!

[wait4me]

ppl do, not what they need but what they wan

and ppl dun buy, what they need but what they wan

[jhkim]

Originally posted by mctan@May 18 2006, 01:00 PM

QNS 1: If both my Parents don't have stable income, neither do they draw >$1500 each per month, would MAH Motors allow me to pay by installments taking into consideration that I would be a Full-Time NS man.

 

Normally motorshop does not care how much does your parents earn. They only care whether you pay or installment on time or not.

 

 

 

Calculation 1.

machine price $10,600

interest 7% for 4 years = 28%

If you loan 10k> interest = $2,800

Monthly installment =(10,000+2,800)/48months= $266.66

 

Calculation 2.

Yearly insurance = $1,500 for current age

Yearly road tax = $80

Every month = (1,500+$80)/12=$131.66.

 

Calculation 3.

IU unit = $160 (optional)

Handling fee$150(depend on motorshop)

 

During the purchase of this bike. You must get ready at least.

$1500 (insurance) + $40(half yearly road tax) + $150 (handling fee) + $160 (IU)

+$600 reminder machine price + 5% GST around $600 =$2910.

 

Then every month you have to save $266.66 for monthly instalment and $131.66 for next year insurance and road tax.

 

For the above calculation does not included money for petrol, parking, servicing etc

AND its just an estimation.

 

If you think that receive just $350 from NS can afford to pay for all these, not to forget there is one song in the army " Army pay you $1, and they take back 99"

If not, save the money for better usage or upgrade your license to 2A or 2.

 

 

Good luck and enjoy your NS

 

Super thanks,

 

Very clear now...I just need to adjust my own quotes from yours.

 

However you didn't include COI? I am newbie.....is there a reason for it?

 

Thanks again...

 

I am gonna go down tomorrow to see how it works out for me.

 

Do you think they will give freebees like helmet or gloves?

[episode2]

oh geez...aprilla again...when extrema came out first...was rather tempt to get but was riding old RXZ at that time...den later replica came out..OMG..another tempt...but was riding a 400cc bike at that time.Trust me...do a low cost for a class 2b bike first..transport and not blow wind.Cos u still need to live on...We put petrol and mantain of the bike...let say touch woods..someone push ur bike down or so on and on..another wallet burn.But same i also have dreams when i got my licence too...DREAM of FZR150 and end up i paying like hell at that time and push back to motordiam...haiz....den later get a Yamaha LC125 for a change.Cheaper..can thrust anyhow and parts are cheaper.WHen u get ur Class 2A..it will be more stable for u to own a bigger CC bike as u will love it.Class 2...i think when u are more finacial stable ..sure lots of choices will comes to you.Cheers palz...get a bike for transport will be best of best.

[Mr Zh4n]

I guess that's no need to flame him, it's good that he has dreams, just work hard and your bike will come to you one day. For now, don't kill yourself over a motorcycle. It's no fun definately. Imagine 2nd thinking on spending money every you need to. Get a 2nd hand one, the people who buy it first takes the greatest loss, so be wise.

 

I hope you get your RS125 soon. Ride safe.

[squallgoh]

hey, just my 2 cents worth

i serving army now and abt to ord soon, i've experienced the diff phases of army.. ur first yr pay will not be enuff to even feed a SP or kips, cuz every now and den u haf to buy stuff for army and phone bill will be higher oso (if got gf lah)..

if u really wan a bike, i suggest a cub or ta200, quite cheap n gd to ride oso.. den get 2A license le buy a better bike like GSR or CBR..

btw at my camp last wk, my fren GSR400 pick up win a RS125 3-4 lamp post...

if u really like sports bike, get cbr150 lor.. hee

[Guest IceBerkZ]

bro, u comparing a 400cc to a 125?? that's not fair rite?...

 

anywayz to thread starter...

During NS, Pls dun waste ur $$ on ur bike. most of us experienced this before and from my experience, after ur BMT and posting and promotion to at least a corporal rank, save some of ur $$. coz after u ORD, wen u're jobless, those savings will help u out while u're searching for a job. If u're already working by den, the $$ u saved while in NS can be ur emergency fund or even holiday funds.

 

I am an aprilia fan also, I also own an RS125Y2K currently. Honestly wen news that Mah displayed the '06 RS125, i went down to start the bike, touch it, dream of buying it until i "talked" to my NSR150 and told it i wana sell it for the '06 RS125 but even for me with a stable job, had to twice.

 

wen u only haf 2b license, since not much choice sportbikes, u do tend to dream of getting the '06 RS125. but wen u're holding a bigger class license, u start comparing the worth of the first hand bike prices. Wat most of the ppl here said is true, like "why pay 10k for 125cc wen u add another 3k-4k can get RS250?" or another 4k-5k for a 1st hand 400cc bike? btw, do u noe currently 2nd hand R1s are abt 8k++ only?! the first version la of coz but still?!

 

anywayz, r u still under probation? if u r, den stick to bikes dat cannot exceed 100km/h by default. like kupkias or four stroke small bikes. this will help save ur license, especially from speed traps. trust me, u wont wana experience revocation, as a rider its like getting ur hands & legs cut off.

 

maybe after 1 or 2 years wen the current owners of the '06 RS125 feel like selling their bike, u might wana get from them. at least by then u shud be in a better financial position to own ur dream bike.

[anric79]

mah motor dont care whether ur parent earn how much , if u never downpayment at least 30% of ur bike they will require 1 gurantor

and for interest wise if u say 4yr it will be 4+4+4+4= 32%. new bike at mah motor is 4% per year. my advice for u is to buy a second hand bike mainly for ur transportation , hse to camp and camp to hse. cos army pay really really very low cannot survive one.

[kennethy]

well man, i guess you have hear it all... none of the people who replied your thread is for the idea of you getting the bike...

 

instead, most would ask you to get a second hand bike good enough for your transportation needs...

 

i share their same sentiments too...

 

dun start something you can handle... live within your means is my best advise (not just buying bike but everything else in life)...

 

cheers!