Looking for a Guarantor?

[Lone Rider]

Are you looking for a guarantor? I'm looking for one also. SMS me at 9102-6850, Chris.

[deanz4]

crazy who wanna do this??

[Lone Rider]

Just trying my luck. If nobody, I'll just pay full cash.

[dinie]

i dont understand wad this whole thread is abt.. care to explain pls?

[Lone Rider]

I'm looking for someone who's looking for a guarantor because I myself looking for a guarantor also. You buy bike, I buy bike, I guarantor you, you guarantor me. I hope I don't have to park all the money away by buying cash.

[ImPeRzA]

  Quote

Originally posted by Lone Rider@Dec 12 2006, 07:46 AM

I'm looking for someone who's looking for a guarantor because I myself looking for a guarantor also. You buy bike, I buy bike, I guarantor you, you guarantor me. I hope I don't have to park all the money away by buying cash.

Well if im not worng. Those ppl who are buying a a bike and is under 21 need a guarantor. If he need a guarantor how can he be yours? Buying straight cash to me is better then paying installments. No intrests and is much cheaper.

[WildCard]

Not really.

I'm 26 and yet I still need a guarantor when I took a finance plan for my bike.

It depends from shop to shop....

[Lone Rider]

Your money today is worth less tomorrow due to various economic reasons. Inflation rate for example on average is about 3%. Bike loan interest varies from 4 ~ 6% which means the actual interest you pay is much lesser and you got more cash in hand that does not do into fast depreciation compared to value being locked in a motorcycle.

 

FYI I'm getting a 2A and I'm into the 30s riding for a couple of years.

 

I'm looking for anyone who is also facing the guarantor issue to help one another.

 

Please help me by not diverting my thread.

[Lone Rider]

I'm still looking...

[J73]

i heard tt nwadays as long as u loan u'll need a guarantor ... is it true??

[wait4me]

  Quote

Originally posted by J73@Dec 18 2006, 11:29 AM

i heard tt nwadays as long as u loan u'll need a guarantor ... is it true??

yr daughter lor

[archenemy]

not really lah...

 

when i bought my bike from AS Phoon...they didnt ask me for a guarantor...

[retro]

  Quote

Originally posted by archenemy@Dec 18 2006, 01:38 PM

not really lah...

 

when i bought my bike from AS Phoon...they didnt ask me for a guarantor...

then why they ask for my guarantor!!!!

[wait4me]

  Quote

Originally posted by retro@Dec 21 2006, 01:53 PM

then why they ask for my guarantor!!!!

i tot standard proceudre??

[OhMiGosh]

  Quote

Originally posted by wait4me@Dec 21 2006, 03:35 PM

i tot standard proceudre??

varies from bike shops ..

[pyro13]

well terr was once when someone asked for a guarantor here and it weas successfull was stingrhea i think.. since u can buy cash.. y not??

[Siao_Liao]

i bought my bike frm HKL...no guarantor leh...they nv ask me...but last time i get bike from dexin..need.

[duracellb]

  Quote

Originally posted by Lone Rider@Dec 12 2006, 09:39 AM

Your money today is worth less tomorrow due to various economic reasons. Inflation rate for example on average is about 3%. Bike loan interest varies from 4 ~ 6% which means the actual interest you pay is much lesser and you got more cash in hand that does not do into fast depreciation compared to value being locked in a motorcycle.

 

FYI I'm getting a 2A and I'm into the 30s riding for a couple of years.

 

I'm looking for anyone who is also facing the guarantor issue to help one another.

 

Please help me by not diverting my thread.

When the bike shop charges 4% interest rate, the effective interest rate you pay is actually about 8%. Anyone who has taken finance/banking course will be able to confirm this.

 

In terms of investment returns, it is better to pay cash for your bike unless the cash you hold could generate return of more than 8%.

 

Also, please rethink about going into such complex mutual guarantor arrangement with stranger... you are better off approaching more established bikeshop who do not need guarantor. I think Looi's doesn't need for amount less than $10k.

[Kutrax]

  Quote

Originally posted by Siao_Liao@Dec 28 2006, 07:27 AM

i bought my bike frm HKL...no guarantor leh...they nv ask me...but last time i get bike from dexin..need.

u bought 1st hand bike or 2nd hand?

if the bike less than 3k maybe shop close 1 eye.

[madman]

I tink sometimes people hav misconception about this interest rate thing...

 

When they charge 4%, and you take a 2 yrs loan, the interest is not 4%, but doubled. 3yrs will be 12% off your loan, and that's huge...

 

Imagine you bargain for that $100 discount, thinking you save hundred, but when you take a loan, calculate the total amount you will pay in total, then you'll know how much extra is forked out for the same bike.

 

Bike that cost3-4k, not that much,but a new CL2 bike alot of diff...

[Siao_Liao]

  Quote

Originally posted by Kutrax@Dec 28 2006, 10:06 AM

u bought 1st hand bike or 2nd hand?

if the bike less than 3k maybe shop close 1 eye.

hahaha...u see my signiture? rvf got cost below 3k 1 meh? if yes...then help me order 1 also..lolz..