Newbie .

[lesterq]

i use the installment calculator website right . .

for a 5k loan over a period of 5 years at 5% per annum sums up to $500 +++ in

interest only .. so i thinking how come yours become 1 k plus inteerest

[dDtim]

i use the installment calculator website right . .

for a 5k loan over a period of 5 years at 5% per annum sums up to $500 +++ in

interest only .. so i thinking how come yours become 1 k plus inteerest

 

It is the so called prepaid charges for taking a loan.

[lesterq]

installment calculator wont help to calculate that? and possible to take loan to buy bike from private seller?

[swoosh]

Hire purchase cost, admin fees, agreement fees, IU fee, taxes are all incomes in disgusie for bike shops. These are known as hidden cost. Some shops will add these hidden costs after you placed a deposit or when u ready to sign the HP. Some shops will factor all this in and tell you the nett amount to pay. The latter is preferred as it is transparent.

 

Instalment amount is easy to caculate. Taking $2800 as e.g with a 5% pa and a 5year loan. It would be 1.25 x 2800 divided by 60= $58.33 cents per month interest cost is $700. However, most shops will not give you a 100 percent loan, they will asked you to pay the insurance,transfer fee and small portion of the bike price and you are to take remainder amount as loan. Btw, not sure there are 5 percent loan for preowned bikes, market rates as i understand is ard 6 to 10 percent.

 

Like I said earlier, you are still a student, no finance company will loan you any monies. You probablyhas to turn to your family for friendly loans

[swoosh]

i use the installment calculator website right . .

for a 5k loan over a period of 5 years at 5% per annum sums up to $500 +++ in

interest only .. so i thinking how come yours become 1 k plus inteerest

 

1.25 x 5,000 / 60= 104.16. Interest cost :$ $1,250.

[lesterq]

Hire purchase cost, admin fees, agreement fees, IU fee, taxes are all incomes in disgusie for bike shops. These are known as hidden cost. Some shops will add these hidden costs after you placed a deposit or when u ready to sign the HP. Some shops will factor all this in and tell you the nett amount to pay. The latter is preferred as it is transparent.

 

Instalment amount is easy to caculate. Taking $2800 as e.g with a 5% pa and a 5year loan. It would be 1.25 x 2800 divided by 60= $58.33 cents per month interest cost is $700. However, most shops will not give you a 100 percent loan, they will asked you to pay the insurance,transfer fee and small portion of the bike price and you are to take remainder amount as loan. Btw, not sure there are 5 percent loan for preowned bikes, market rates as i understand is ard 6 to 10 percent.

 

Like I said earlier, you are still a student, no finance company will loan you any monies. You probablyhas to turn to your family for friendly loans

 

So is it advisable to buy brand new to have a lower interest rate?

I can if i have a guarantor , no?

[lesterq]

1.25 x 5,000 / 60= 104.16. Interest cost :$ $1,250.

 

From what i understand from your calculations , the interest per annum is stacked based on how many years the loan is and then multiplied by the principal sum? that's daylight robbery . if it's a ten year loan the $$ paid would be 50% more.

means 7k plus for a 5k loan!

Am i right ?

[Boey]

got so low ah the interest now? i loan 8% sia. sian. best get loan from a bank, cheaper, easier to pay installments.

[lesterq]

i only giving example how to get loan from bank?

[swoosh]

So is it advisable to buy brand new to have a lower interest rate?

I can if i have a guarantor , no?

 

Brand new will be about 4% to 5% depending on shops, higher risk higher interest.

[swoosh]

i only giving example how to get loan from bank?

 

I think he is referring to personal loan e.g GE, POSB. So far no bank doing motorcycle loans. Finance company like Hitachi Credit prefer to do Class 2 bike loan.

[swoosh]

From what i understand from your calculations , the interest per annum is stacked based on how many years the loan is and then multiplied by the principal sum? that's daylight robbery . if it's a ten year loan the $$ paid would be 50% more.

means 7k plus for a 5k loan!

Am i right ?

 

this is known as fixed interest loan. Unlike car, bikes do not have any parf value so it is of a higher risk for finance company thus the higher interest. My best advice to you is to borrow from family.

[Boey]

do personal loans. ask your parents do it for you if you're not working.

[lesterq]

Okay. So i live in sengkang and there are three learning centres.

BBDC SSDC CDC. .

From my house to CDC if i take bus is 47 minutes. Bus + train 40 minutes.

To BBDC Bus 67 minutes , train + bus 72minutes.

To SSDC Bus 64 minutes. train+ bus 66 minutes.

 

Is it better to take at bbdc cause people say is faster to learn there or take at cdc which is nearer to me?

[lesterq]

Is ssdc at angmokio catering to class 2b learners? -.- or is it just a branch to sign up for ?

 

 

ignore this post the ssdc amk is just for booking and cancellation

Edited April 9, 2011 by lesterq
found my answer.

[Boey]

bbdc people say passing tp is higher rate. but thats what people think. take anywhere really. if you can ride properly, you can pass. doesnt matter where.

[lesterq]

does being good on bicycle help ?

[pxg]

Hi all! i've got a question here! which option is more feasible? i just passed tp and im 21.

 

A: get a sp, either with 2013 coe or 202x coe, scrap or sell depending on the coe..

B: get a x1r, just ride till i get class 2A. which will be around 2013 as well..

 

i understand that once i get a transport, no matter how sure will lose money.. trying to see which option will lose the minimum. i will definitely upgrade to class 2A! SUPER 4!

[lesterq]

I will take x1r cause insurance will be cheaper. Fuel consumption better.

[pxg]

I will take x1r cause insurance will be cheaper. Fuel consumption better.

 

haha! and it's newer! less engine problem!! right? haha! but x1r second hand so hard to find i went toh guan and queensway nearby those bike shop all dont have x1r!

[lesterq]

buy from private seller? garage forum i saw quite a few:) btw congratulations

[pxg]

buy from private seller? garage forum i saw quite a few:) btw congratulations

 

haha! problem with full cash payment eh itchy hand can't wait! if drag around 2 months time i definitely will be able to full cash! thank you

[mild_slevin]

Hi everyone

 

I'm turning 18 this coming june 23rd. .

Been dreaming about biking ever since i got my first toy motorbike .

My uncle died when he was my age , body got pulled after being

hit by a lorry. Intestines were sprawled all over the road. Gruesome .

Just last year 3 of my cousins died in a car accident. .

 

I just wanna come here to research about the costs of motorbikes per month etc

 

Because i'm a student still. Every month i reckon i would have $250?

I have already set my mind up to make do with a second hand kup kia or a

phantom.

Because it is

: fuel efficient

: cheap

: gets me to point a and back

: won't be prone to thefts , vandalism if i dont make it

too eye catchy.

:no problem pillioning a light girlfriend.

 

Alot of the veterans here always recommend the noobs (me)

to bring someone very expert when buying a 2nd bike .

The problem is this. How do noobs have an expert biking friend?

 

So i started this thread for noobs like me to get experience ,

maybe an expert friend who free enough to accompany them

during purchase. And to just chat

 

I stay in sengkang , school starts 12th april , NYP.

The main reason for a bike is that my bus , 159 , takes the unnecessary turn

into hougang green which is like so redundant. -.- And i hate taking buses. Haha

 

Its good that you able to settle for a "Kup", I rode a X-1R before and its fantastic.

For your case, the major killer would be insurance. Despite its a "Kup", the insurance can easily hit 1000 (*subjective) due to your age and riding experience.

 

Experience dude can help to keep an eye on those payments (*if buying from shop), about the vehicle you can do a simple look out on areas like :

 

Clutch operation

Brake hose (*look out for leakage)

Brake disc (*check for serious wear/warp-page)

Brake operation (*front/rear)

Electrics (signal, headlamp, horn etc)

Tires (*tires should turn freely)

Gear (*smooth transition from gear to gear)

Suspension (*shouldn't bottom out easily)

Radiator (*if any, look out for damage fins)

Any sign of crash

Start up engine, rev the engine, it should sound smooth... warm up vehicle and check for leak

[Boey]

does being good on bicycle help ?

 

lol bro, being good on a bicycle does not necessarily mean you'll be good on a motorcycle. its different cos of the handling. changing of gears, throttle control, brake control, everything.

go take your license first then you'll know. still got 2 more months. dont so anxious lah. relac. go look around the forum first.

[lesterq]

Anybody has experience with installment insurance?//// please advice like which card you use ? debit card can? hhaa