Newbie Question. Help!

[archpunk]

Hi.

 

I'm new to the whole bike world and I'm wondering how the 'reloan' of bikes works. Say, a friend is selling his fully-paid RXZ 135 for $2,500 with a COE of 8 years left. Can I 'reloan' his bike from a bike shop even though he's selling it for $2,500? Does it mean the shop will buy his bike for $2,500 and then I'll buy it from the shop? Is it at all possible to pay installments from there?

 

I need help. I'm confused! How does it work actually?? The reason why I'm asking is because I'm a student and I only have a budget of $1,800. I can save the rest of the amount left but I want the bike now. Heh.

[Demon]

Hi.

 

I'm new to the whole bike world and I'm wondering how the 'reloan' of bikes works. Say, a friend is selling his fully-paid RXZ 135 for $2,500 with a COE of 8 years left. Can I 'reloan' his bike from a bike shop even though he's selling it for $2,500? Does it mean the shop will buy his bike for $2,500 and then I'll buy it from the shop? Is it at all possible to pay installments from there?

 

I need help. I'm confused! How does it work actually?? The reason why I'm asking is because I'm a student and I only have a budget of $1,800. I can save the rest of the amount left but I want the bike now. Heh.

 

Since that bike is fully paid, then it will not be a reloan case.

 

What you need is financing, any financing institutions like Hitachi Credit. There are also bike shops that will offer you such service.

 

In your case, I foresee you will face many problems in obtaining financing because you are a student therefore you would need guarantor(s) to support your application.

 

I suggest you don't rush into it. Get a bike that you can pay in full, and make sure you have enough money to maintain and operate it.

[archpunk]

Since that bike is fully paid, then it will not be a reloan case.

 

What you need is financing, any financing institutions like Hitachi Credit. There are also bike shops that will offer you such service.

 

In your case, I foresee you will face many problems in obtaining financing because you are a student therefore you would need guarantor(s) to support your application.

 

I suggest you don't rush into it. Get a bike that you can pay in full, and make sure you have enough money to maintain and operate it.

 

Thanks bro! But how does reloaning actually work? Could you give an example please?

[haoKR]

Hi.

 

I'm new to the whole bike world and I'm wondering how the 'reloan' of bikes works. Say, a friend is selling his fully-paid RXZ 135 for $2,500 with a COE of 8 years left. Can I 'reloan' his bike from a bike shop even though he's selling it for $2,500? Does it mean the shop will buy his bike for $2,500 and then I'll buy it from the shop? Is it at all possible to pay installments from there?

 

I need help. I'm confused! How does it work actually?? The reason why I'm asking is because I'm a student and I only have a budget of $1,800. I can save the rest of the amount left but I want the bike now. Heh.

 

save enuff money 1st then make your purchase,but u mention its your friend?ask him/her to reserve for you 1st or what?