advise needed on loan calculation

[FREDDY]

let say i borrow 10k loan from bike shop

interest is 6%

4years loan

installnment per mth will be 10000x0.06=600/year

=10000+(600x4)=12400

=12400/48=$258.3333333

 

is this how they calculate?

 

is borrowing from fiancial commpany lik hitachi interest lower or bike shop?

if get from finiacial company can i purchase 3rd party insurance for my bike?

 

anione care to advise

as this is the first time i wan to get a loan for bike

[swoosh]

Yes that is how bike shop charged interest. hitachi charging 4.75 but i think only lending for cl 2 bikes. main criteria is you must have employment income. urs is a new bike or old bike?

[hongwei09]

hi where do u get yr reloan care to share?