Need advise

[jyo]

Hi bros

 

Need some advice on my bike. i just traded in TA200 for Suzuki DR125 sm. My DP was 1.5k with trade in. 9.6k with insurance. 160 x 58 mths more to go! 5 yrs loan.. yes 5 yrs!

 

My problem is.. i am interested in getting my 2A licence .. and intend to upgrade. What are my options ? i bought it from ASP.. so there is this no early repayment agreement. As far as i know, i could trade off my bike at any motor shops as well right ? .. really made wrong decision in first place as i thought i wont get 2A.

 

Thanks..

[BlackDawn]

Hi bros

 

Need some advice on my bike. i just traded in TA200 for Suzuki DR125 sm. My DP was 1.5k with trade in. 9.6k with insurance. 160 x 58 mths more to go! 5 yrs loan.. yes 5 yrs!

 

My problem is.. i am interested in getting my 2A licence .. and intend to upgrade. What are my options ? i bought it from ASP.. so there is this no early repayment agreement. As far as i know, i could trade off my bike at any motor shops as well right ? .. really made wrong decision in first place as i thought i wont get 2A.

 

Thanks..

You can't trade off you bike to other motordiams because its still under hire purchase with ASP.

[mild_slevin]

there's chances where u can trade in ur DR125 for 2A bike despite there's hire purchase.

You can check around any shop, but chances that you get cash return would be very low. Unless you ride it for another 2-3yrs.

[jyo]

thanks.. i think i got my answer ..

[LollyPoP]

ASP did mention that there isn't any early penatly, but they didn't say if it's applicable if u trade-in to other bike shops.

well, there're always hidden agreement.

[jyo]

there's chances where u can trade in ur DR125 for 2A bike despite there's hire purchase.

You can check around any shop, but chances that you get cash return would be very low. Unless you ride it for another 2-3yrs.

 

Hi another reason is, i learnt that i am overpriced for my bike. My concern is, if i am going to ride for another 2-3 yrs.. or finish my whole payment. i am afraid i will be at a bigger loss.. because i bought my bike at a higher price initially.

 

Which option is better to suffer minimal damage ?

 

 

1. Finish off whole payment then sell off

2. Finish off 2 yrs then sell off.. like pple say 2 yrs to break even..

3. Trade off my bike now for another bike..

4. OR find a buyer for my bike.. and forsake the DP i put in..

if there are other methods.. pls enlighten me... Thanks !!

[BLACK COMET]

Hi another reason is, i learnt that i am overpriced for my bike. My concern is, if i am going to ride for another 2-3 yrs.. or finish my whole payment. i am afraid i will be at a bigger loss.. because i bought my bike at a higher price initially.

 

Which option is better to suffer minimal damage ?

 

 

1. Finish off whole payment then sell off

2. Finish off 2 yrs then sell off.. like pple say 2 yrs to break even..

3. Trade off my bike now for another bike..

4. OR find a buyer for my bike.. and forsake the DP i put in..

if there are other methods.. pls enlighten me... Thanks !!

 

 

1. Make sense. But by then how much can ur bike fetch 5 years later. this will depends on the market demand 5 years later?

2. Can do that too. But prepare to take back zero cash.

3 Not a good idea. U end up paying even more.

4. Can also.

 

Anyway, from my understanding, ASP do not have early Penalty for early settlement. Even u push into other bike shop. Other bike shop will call ASP to settle the amount as per agreement. U should have a copy of the Hire purchase agreement. It's all stated there.

 

I did something like that 7 years ago with my first bike. But bike back then was cheaper. bike 6.4K. down 1K. loan 5.4 for 3 years.

1 month 176.

 

Sold off 1 year later to private buyer at 3.8K.

 

ASP did a recalculation for early settlement for me. Meaning instead of 3 years interest. They make it into 1 year interest. So I got back like 800 cash.

 

I don't think that is any problem.

[KeraKing]

see if other shop willing to take in ur bike, they may settle with as.p.

 

My friend traded his varadero which still under installment at another shop.

[jyo]

thanks ezzy,comet.. and kera ! i got a better scenario of where i am heading now.. thanks again !!