Possible to downpayment $500 at shop & take out bike?

[Tequila]

So as the title says, isit possible?

 

i heard one of my friend downpayment $500(the sum includes insurance as well) & take out bike, isit possible?

 

cause i hear ppl say must pay the insurance full first.

 

but if downpayment $500, means the shop pay for me the full insurance first and after which i pay them monthly installments.

[compfused]

So as the title says, isit possible?

 

i heard one of my friend downpayment $500(the sum includes insurance as well) & take out bike, isit possible?

 

cause i hear ppl say must pay the insurance full first.

 

but if downpayment $500, means the shop pay for me the full insurance first and after which i pay them monthly installments.

Most likely must be able to cover the insurance..

[Tequila]

Most likely must be able to cover the insurance..

 

So means cannot down $500 alone first ahhs?

[DeusExMachina]

So as the title says, isit possible?

 

i heard one of my friend downpayment $500(the sum includes insurance as well) & take out bike, isit possible?

 

cause i hear ppl say must pay the insurance full first.

 

but if downpayment $500, means the shop pay for me the full insurance first and after which i pay them monthly installments.

 

 

For your one year of insurance coverage, you want to add it into your 5 or 6 year loan and add interest huh?

 

 

Then when year 2 comes and you have to renew insurance and road tax how?

 

Where u gonna get the marnee?

[Tequila]

For your one year of insurance coverage, you want to add it into your 5 or 6 year loan and add interest huh?

 

yup, exactly.

 

Then when year 2 comes and you have to renew insurance and road tax how?

 

Where u gonna get the marnee?

 

hmm then how? isit possible?

[lawbah]

get RXK maybe can ba ...? or cg125

 

2nd year take out another bike lor... remaining instalments add on x interest lor

[garfieldrox]

$500 is super hard to down. Cuz insurance price is going up. Unless u r over the age of 26... Den got the chance!!

[Tequila]

wahh. but my friend got down $500 before leh, take out Kawa

[compfused]

wahh. but my friend got down $500 before leh, take out Kawa

Depends on the age and ridin experience..You seem to be in a hurry to get a bike..Save more $$ and downpayment more..Its the best advice I can give..Or better yet..Save up and pay full cash..

[sw33t_r0s3s]

yup...just pass dont rush to get bike. look around first. It really helps. Even if you take out, you still will need to set aside spare cash in case your bike need repairs

[DeusExMachina]

yup, exactly.

 

 

 

hmm then how? isit possible?

 

My advice. Don't.

 

Just save up for a few months more. Pay your insurance and road tax upfront. Then downpay a bit more for the bike.

 

Less loan = less interest = less monthly instalments.

 

You will be less stressed out. Your salary or allowance per month is also for your own well being.

 

Always make sure that you have enough to eat well before committing to a bike. You can live without a bike, but you must eat to live.

 

Just some friendly advice.

[sICkbOi-dOt-cOm]

But without bike i don't have appetite to eat.. How to live???

[rodman74]

if u have tight budget maybe can check out the forum for bike . maybe can try look for those COI with minimum cash top up. save the cash in hand u have for insurance. hope this help. Bike shop 's second hand bike also not gurantee swee swee no problem one. jus my 2 cents comment cheers. hope this help .

[DeusExMachina]

But without bike i don't have appetite to eat.. How to live???

 

Steal a Chinaman's bicycle from a lamppost near the MRT station la. Bring along a pair of cutters. I know it's not a real bike, but at least you can make do and have the appetite to eat dim sum.....

[Yongster]

As what the other bros have advised, put more downpayment.... If you can't

 

cough up at least 20% - 30% of the bike cost as downpayment, then it's

 

advisable to save up more....... If u try to rush it, u will be struggling and suffering long

 

term...

Edited August 26, 2009 by Yongster

[sICkbOi-dOt-cOm]

Ahh... this call's for some China Dim Sum at GL...

[ulysses_sc]

So as the title says, isit possible?

 

i heard one of my friend downpayment $500(the sum includes insurance as well) & take out bike, isit possible?

 

cause i hear ppl say must pay the insurance full first.

 

but if downpayment $500, means the shop pay for me the full insurance first and after which i pay them monthly installments.

 

Your friend is so screwed. You want to follow?

 

Fact: you CANNOT afford a bike YET.

[BlackDawn]

Another wannabe biker headed for financial ruination.

[sian ar]

well it is common n heard of ppl who down 500 onli even a guy whom juz pass can take out a bike n down 500 .. its all hw u nego wif the shop. but be warn..u will end up paying more in the end.. as bike shop will settle ur installment 4 tat year for u but will insert it into ur monthly payment..for example bike is 3k, insurence is 1 k. minus ur 500 left is 2.5k all is broken up into ur installments .then plus intrest. depending on shop .. so in the end the shops makes more money wif all the intrest earn as u would surely knw the higher u owe the more intrest they profit. and as for the following year renewing of ur insurence is by ur ownself.

hope tis helps u .. chose wisely whether to cough up little n end up paying more or chose 2 save abit more n down more which will result u wif less burden.

[ryanryanryan]

i use to down 500 for both my x1 and sp, now i dunnoe stil can now, i was refering to around 1 and 2 years back

[KwanYu]

5 years back i put a downpayment of $500 to bring my Phantom out.

[STRYKER]

bro dun rush...chill2....still early for u to talk abt getting bike.u down 500 den ur monthly u wanna pay how much?190/mth for 2yrs?anyway dis is gonna be ur 1st ride,try to not to spend so much on it coz im sure 1yr later u wanna upgrade 2 2a coz can see from ur eagerness...so might as well just let people laugh at u riding apek2 bike for ur 1st yr...den when 2a comes u can haf some savings...look further ahead before u go deep into a corner....too fast u'll crash....too slow u cnt get up back....

[jms80]

For your one year of insurance coverage, you want to add it into your 5 or 6 year loan and add interest huh?

 

 

Then when year 2 comes and you have to renew insurance and road tax how?

 

Where u gonna get the marnee?

 

Think the sarcasm was lost on him.

 

Bro, save up first. Where you gonna get the money if the bike needs repair.