Loan Matters

[NooBNooBNooB]

1)Izzit possible to fully loan an amount of about 15k?If not,whats the highest % that can be loaned?

2)What is the criteria to be able to take up the loan?

3)What is the roughly % of interest nowadays?7%?

4)Will the % of the interest be higher if i were to loan over a longer period of time or will it be the same just that the interest amount adds up to be more?

5)What is the longest period of time that can be loaned?

6)How is the interest being calculated?e.g.Assuming i take a loan of 15k over a period of 6 yrs,is it calculated as 15k x 7% = $1,050,$1,050 x 6 = $6,300.Is this the correct calculation?

 

Thx for all the help.

[hanhan]

correct

[swoosh]

Originally posted by NooBNooBNooB@Aug 3 2006, 04:16 PM

1)Izzit possible to fully loan an amount of about 15k?If not,whats the highest % that can be loaned?

2)What is the criteria to be able to take up the loan?

3)What is the roughly % of interest nowadays?7%?

4)Is the % of the interest if loan over a longer period of time or will it be the same just that the interest amount adds up to be more?

5)What is the longest period of time that can be loaned?

6)How is the interest being calculated?e.g.Assuming i take a loan of 15k over a period of 6 yrs,is it calculated as 15k x 7% = $1,050,$1,050 x 6 = $6,300.Is this the correct calculation?

 

Thx for all the help.

answering u to the best of my knowledge

 

1) Depend on the how well the bike shop know u and vice versa.

2) Income statement and you will need a guarrantor

3) Some shop offering 4% for new bike

4) (you may want to rephrase the qn, dun understand wat u saying)

5) See no. 1

6) You are right most shops use this method. 15k+6.3k/72=$ 296 permth

[NooBNooBNooB]

Originally posted by swoosh@Aug 3 2006, 07:15 PM

answering u to the best of my knowledge

 

1) Depend on the how well the bike shop know u and vice versa.

2) Income statement and you will need a guarrantor

3) Some shop offering 4% for new bike

4) (you may want to rephrase the qn, dun understand wat u saying)

5) See no. 1

6) You are right most shops use this method. 15k+6.3k/72=$ 296 permth

In Question 4,Im trying to ask will the interest % be charge higher (e.g. from 4% to 6%) if i were to loan it for a longer period...

[swoosh]

No, not that I know of. Bike loan is different from car loan.

[Cyanide14]

Anyone knows which motortiam I can get a loan from?

Credit company is Bike Production?

 

Thanks!

[dezaid]

Hi,

Can any one let me know, what are the fees and rules are imposed for Malaysian who're goin to buy a singapore bikes (installment) ?

[JeeV]

does the guarantor need to bring along his/her pay slip as well?

[welly]

does the guarantor need to bring along his/her pay slip as well?

 

not necessarily

[BlackBandit]

Hi,

Can any one let me know, what are the fees and rules are imposed for Malaysian who're goin to buy a singapore bikes (installment) ?

 

Usually, you need to either be a student or gainfully employed in Singapore, meaning you either need to be holding a student pass or work permit holder. If you're either one of these, then there is no difference in charges as a Singaporean buyer...