Installment for bike

[swiftee]

Hi,

 

For those owning big bike (e.g. class 2) on installment, what percentage of the bike's OTR price did you pay as downpayment, how long a plan did you take and how much did you pay per month?

 

Thanks!

[ProFatSir]

  swiftee said:

Hi,

 

For those owning big bike (e.g. class 2) on installment, what percentage of the bike's OTR price did you pay as downpayment, how long a plan did you take and how much did you pay per month?

 

Thanks!

 

Dear swiftee,

 

Down payment depends on the individual bike shop.

some 10%

some 20%

some even 500-1000sgd ride away.

 

the interest depends on the amount of loan and years of loan.

 

how long to loan?

depends on how much the buyer can afford monthly

 

how much to pay a month for installment?

depends on the loan amount

eg

loan of 20k with 5 yrs interest(4%/annual)

 

20k+interest(abt 4000)=24000+misc fee

 

24000/5yrs(60mth)=400 a month.

 

the short you loan you save the $ on interest.

[xXxRatedxXx]

Oh guru tony... how about reloan? How does that work?

[ProFatSir]

  xXxRatedxXx said:

Oh guru tony... how about reloan? How does that work?

 

reloan is another story...

 

consider loan from GE or singpost will be a much better deal.

if the bike shop is offering a better deal also can consider.

[crazydj]

Dear guru tony.

 

If i got no guarantor, but i wish to get a loan, is it still possible?

 

Thanks.

[ProFatSir]

  crazydj said:

Dear guru tony.

 

If i got no guarantor, but i wish to get a loan, is it still possible?

 

Thanks.

 

will not reply to this question(you are waiting for ppl to flame you!)

[xXxRatedxXx]

  crazydj said:

Dear guru tony.

 

If i got no guarantor, but i wish to get a loan, is it still possible?

 

Thanks.

 

Can.... sell one liver one kidney then full cash the bike out.... Ducati also can no problem!

 

  tonychan said:

will not reply to this question(you are waiting for ppl to flame you!)

 

http://static.howstuffworks.com/gif/flamethrower-intro.jpg

[crazydj]

So die die must have guarantor?

 

Then how come i got hear a particular story of a young boy who bought an R15 for 12k? I always wondered who was his guarantor.

 

Eh you guys don't so bad la. I really wanna find out a way to buy a bike on loan without a guarantor. Is it possible to like buy a bike pay 90% then they let you pay the 10% on monthly installments not exceeding half a year and no need guarantor?

[ProFatSir]

  crazydj said:

So die die must have guarantor?

 

Then how come i got hear a particular story of a young boy who bought an R15 for 12k? I always wondered who was his guarantor.

 

Eh you guys don't so bad la. I really wanna find out a way to buy a bike on loan without a guarantor. Is it possible to like buy a bike pay 90% then they let you pay the 10% on monthly installments not exceeding half a year and no need guarantor?

 

anyone as long as he can show his prove of income can be the guarantor.

some shop will ask for 2 guarantors.

some shop will ask for company pay slip.

 

the most powerful prove is

CPF statement for the last 15 mth.

 

*PS-R15 for 12k if theres a guarantor no problem.

if you can pay the 90% of the bike,what is the remaining 10% to you?

[crazydj]

  tonychan said:

anyone as long as he can show his prove of income can be the guarantor.

some shop will ask for 2 guarantors.

some shop will ask for company pay slip.

 

the most powerful prove is

CPF statement for the last 15 mth.

 

*PS-R15 for 12k if theres a guarantor no problem.

if you can pay the 90% of the bike,what is the remaining 10% to you?

 

Good point for the last part. Anyway, if i show my payslip or CPF statement for the last 15 months,which suggests i can pay up my installments, is it possible for me to buy a bike under hire purchase without a guarantor? Has this been done before?

[xXxRatedxXx]

  crazydj said:

Good point for the last part. Anyway, if i show my payslip or CPF statement for the last 15 months,which suggests i can pay up my installments, is it possible for me to buy a bike under hire purchase without a guarantor? Has this been done before?

 

Call your favourite bike shop and ask....

[ProFatSir]

  crazydj said:

Good point for the last part. Anyway, if i show my payslip or CPF statement for the last 15 months,which suggests i can pay up my installments, is it possible for me to buy a bike under hire purchase without a guarantor? Has this been done before?

 

as long as the bike is not fully paid up.the shop will need guarantor from you.

[crazydj]

Oh okay. Thanks. I never paid installments for a bike before.

 

Anyway, a lil off topic, i just changed my chain and sprockets last 2 weeks and now, can see that the slack is quite obvious. Is this normal for new chain and sprockets?

[ProFatSir]

  crazydj said:

Oh okay. Thanks. I never paid installments for a bike before.

 

Anyway, a lil off topic, i just changed my chain and sprockets last 2 weeks and now, can see that the slack is quite obvious. Is this normal for new chain and sprockets?

 

i never paid installment for 6 bikes.

 

i reply you in PM.

[736cc]

  crazydj said:

Good point for the last part. Anyway, if i show my payslip or CPF statement for the last 15 months,which suggests i can pay up my installments, is it possible for me to buy a bike under hire purchase without a guarantor? Has this been done before?

 

if you buy bikes from shop and you able to pay 60-70% then you will NOT need a guarantor. Mah motor do that.

 

R15 for 12k, 12k is not alot of money then the best is pay full cash if cheaper.

Edited April 24, 2010 by 736cc

[swiftee]

thanks for all comments

 

i understand the process, just wld like an idea of what kind of plan others are taking... so i can have an idea on whether what im planning is realistic or nt... thanks