Does my Gurantor needs to have a basic income ?

[metrec]

Erm, I was wondering if my gurantor needs to have a basic income ? Because my gurantor-to-be is a housewife. Hm.. someone clear my doubts please. Thanks.

[SparkerS1]

hi!

gurantor must be 21yrs and above.

It doesn't matters who is it.

Cos gurantor will be responsible for your installments if you have not enough money to pay.

No need to have income.

This is what i know of.

 

 

[metrec]

oh. I see. Thanks man. =) Anyone care to reassure me ? haha. Because one of my friends told me that my gurantor needs to have a basic income or the gurantor may be charged.

[Demon]

  Quote

Originally posted by metrec@March 11, 2007 11:54 pm

oh. I see. Thanks man. =) Anyone care to reassure me ? haha. Because one of my friends told me that my gurantor needs to have a basic income or the gurantor may be charged.

you need a guarantor because the hirer is unable to satisfy all the conditions, be it age, income..etc. Therefore the guarantor be able to satisfy all the condition.

 

[Nicholai]

Which means that the guarantor should have a basic income, preferably... make sense considering the guarantor needs to cover for the buyer should he/she is unable to fullfil the financial commitments of the deal.

[singrider]

I think guarantor must have an income - for example the finance company will ask for the last income tax or payslip as evidence.

[SparkerS1]

guarantor no need to have income. they must be 21 and above.

They just sign the paper can liao.

If u no money pay installment, they will find the guarantor.

They dun care whether the guarantor have income or not.

Got money pay bike shop can liao.

 

I ask from bike shop last month and these are what they say.

 

Got anyone to prove i am wrong?

Cos i also need guarantor to buy bike if i buying new bike.

2nd hand bikes no need to have guarantor.

[asophan]

wait so meaning 2nd hand bikes no need guarantor even if paying installments?

[SparkerS1]

Yeap.

Only new bikes need guarantor if paying by installments if under 21 if not mistaken.

 

new bikes full cash and 2nd hand full cash or installments no need guarantor.

 

call bike shop to get more info depending on what u wan, new or 2nd hand bikes, full cash or installments.

[Darkness19]

buying a 2nd hand bike and if u r paying by installment,u will still need to hav a guarantor if u r under the age of 21

[Guan_Xi]

I was a guarantor for my friend's 2nd-hand bike. My friend is above 21 yrs of age, and so am i. I do not have an income.

 

hope this helps.

[yotsuga]

hmmm i guess different shop different requirements...mine has to have a basic income, they ask my family member to show pay slip and must not be above 45 yr old. PLus the gurantor shouldn't be your own family member....they scare one run all run

 

i mean nt to be stupid but who will be your gurantor if your family doesn't??? everyone is scare that later the buyer don't wan to pay the gurantor have to paid...with that in mind who will be your gurantor..

[lilshah83]

wah lau... if guarantor cannot be family member, very difficult leh... coz only family can realli trust... how to ask outsider to be guarantor... ? haiz...

[dinie]

  Quote

Originally posted by Guan_Xi@April 19, 2007 12:43 am

I was a guarantor for my friend's 2nd-hand bike. My friend is above 21 yrs of age, and so am i. I do not have an income.

 

hope this helps.

wah.. wad shop is tt? pm me if u need to..

[Guan_Xi]

  Quote

Originally posted by dinie@April 19, 2007 04:46 pm

wah.. wad shop is tt? pm me if u need to..

Shop's name is Bike Production.

[JetGrey]

I just bought a bike from Mah Pte. I was told the guarantor need to be 21 years or older and working. My mother housewife, so I try ask. He say cannot. In the end, my older brother become my guarantor.

[Echo]

guarantor is one who guarantees an obligation and has a legal duty to fulfill it. Different shops have their own different conditions, but by right, guarantor should have basic income... Ask thoroughly before commit.

[dinie]

  Quote

Originally posted by Guan_Xi@April 19, 2007 05:22 pm

Shop's name is Bike Production.

wow thanks.. will keep tt in mind.