need help with reloaning.

[beeteezeroninezero]

i mayb repeating a same question to u guyz. but i need some info. though been riding for 1 yr, im stil new to reloaning.

 

i heard Hitachi can do refinancing n so on. so is there any minumum amount? how they charge their interest n so on. if there's a link i cud go to...mayb cud provide me wif it here? cool guyz. =]

[stwb1981]

u can borrow full loan but subject to approval

for example...

zx10 selling at 16000

u can go hitachi n apply for paperwork

they will loan u 80% onli

but u can mark up the selling price to let say 20000

tis u gt 2 liaise wif the owner

u get the pic so far

hitachi oso charge a $100 admin charge

dun worry usually will approve unless u gt bad credit record

note that hitachi onli loan for class 2 bike n pref 1000cc n above

u can check wif them for more info

oso the longer u drag yr instal the higher intrest

i loan 2 years 4.785%

it damn cheap

[iffy]

just follow his lead ! wont be wrong.

[stwb1981]

yup.. thanks...

coz nwadays seldom or even none of the motortiam do refianice

hitachi is gd coz if u decide to full settle the loan they even rebate u certain intrest

oso can pay by giro save trouble...

[Gerald]

a friend of mine managed to get a loan for a 400cc bike from Hitachi. I think they are doing smaller bikes like 2A now.

[beeteezeroninezero]

hey tanx stwb1981. n all the others. im actualli lookin to reloan a 400cc bike. since gerald said tat his fren got it done...den i guess hitachi is doin for 2A bikes too. do they accept loans below 10K? ard 3K liddat.

[otw]

Originally posted by Gerald@March 27, 2007 08:34 am

a friend of mine managed to get a loan for a 400cc bike from Hitachi. I think they are doing smaller bikes like 2A now.

Just call Hitachi they only do big bike 900cc and above...

[Gerald]

i am not too sure.. he bought a dragstar classic.. i think about 7k.. My understanding on Hitachi is that their minimum loan is 5k. But then again that was sometime ago. Why dont you call them up and check? I think MayBank is doing loans for Harley Davidson. Not sure if they doing for private deals.

[stwb1981]

Well best is u call up Hitachi Capital Singapore

tink they ans all yr qns....

Hmm 2A bike well u can try but 3000 diff loh

maybank pvt deal i dun tink they go

for cars yes but nt bikes....

[Omerta]

if i sell my bike, and the buyer does a reloan frm hitachi, do i needa full settle my outstanding loan frm my finance company, so tat hitachi will loan my buyer e amount?

[stwb1981]

once u sell yr bike ....

n buyer reloan ...

seller gt 2 settle all outstanding loan ...

usually tat the case...

buyer can reloan fr the seller fianice company

COI or.....

but change fianice company...

hmm

i dun tink so ....

[TangoBoy]

For 3k loan...better use Easicredit by OCBC or other credit card loans...if ur pay is above 1.4k..

but make sure u pay the minimum amt on time every mth.

OCBC Easi Credit charge quite low interest...and only chargeable on the balance amt.

for pay 1.5k above...u can get 5k credit.

[too_hot]

U can et a loan from Everbright which is at industrial estate next to Singapore Post Centre (just apposite Paya Lebar MRT). They charge btw 6 - 8%. Don't bother calling Hitachi. I tried late last year and they say they only do BMW, Harley, Ducati 1000cc and above.

 

If the amount u intending o loan is between $4k - $6k. Might be a good idea to use credit lines if u're eligible to apply or already have cos they often have promos with interest as low as 3%. Only thing is that its for 6 months so u may need to have a few of them (Cashline, Readycredit, Easy credit, etc.) to roll ur balances around. If u can pay within one or two years u'll probably save compared to normal vehicle loans where they calculate the interest based on the full amount for the full period of loan (which is actually not very fair la)...

 

cheers

[eyz]

jus spoke to hitachi for the past few days. their new policy is tat they will only 800c and above. however, if the applicant fits the minimum criteria (pay, job, loan amount), they will consider the loan, , but on a case by case basis. however, ya need to pay a non refundable handling fees of 100$.

 

if ya're buyin from a private buyer whose bike is still under the finance of a bike shop. the steps wud be like tis

1) buyer get log card (seller's name) to apply for the loan

2) once loan approved, the money will be prepared for release addressed to seller's name.

3) seller wud need to cough out the money to pay the outstanding loan.

4) transfer of ownership at LTA

5) submit log card (buyer's name) to Hitachi

6) Hitachi will handover the cheque to the seller

 

Most of the time, the problem encountered is usually the seller unable to pay the outstanding loan.

[stwb1981]

Dun use credit cards or lines....

long run die....

[Omerta]

thx for the enlightenment.

[BlackDawn]

Originally posted by stwb1981@March 26, 2007 08:32 pm

i loan 2 years 4.785%

it damn cheap

My loan with Hitachi is 4.375% for 3 years.. so I guess i got a good deal?

[p0508384]

called A S Phoon for reloan... charge me 8% for a 3k loan... quite steep...?

[Arcfire]

Originally posted by p0508384@April 02, 2007 01:29 pm

called A S Phoon for reloan... charge me 8% for a 3k loan... quite steep...?

Quite is an understatement.

[fred86]

ASP reloan is $200 regardless the loan is from $1 to $4k per year. but there is agreement fee, and some scanning fee.

[davgancw]

Hitachi is a load of crap.. applied for $5k loan only for a BMW oso kena reject. $100 process fee burn. told them my pay only $1.8k a month. minimum is $2k. still they encourage me to try la. DAYLIGHT ROBBERY:bouncefire: Anyone tried EVERBRIGHT care to share. like what kind of fees they got?