how does bike 'reloan' work?

[freshbutt]

Hi

 

I saw someone selling his bike, e.g. $20k. I don't have enough cash on hand. Who can I approach to so I can buy this bike? I have heard of 'reloan' but I do not understand how it works. someone kind enough to explain to me?

[zalk]

Bike shop takes ownership of bike. Bike shop pays seller full cash. You pay bike shop in installments. End of installments, you get ownership. Basically like buying a used bike on installment except the interest rate a bit higher and you get to choose the exact bike you want.

[freshbutt]

Bike shop takes ownership of bike. Bike shop pays seller full cash. You pay bike shop in installments. End of installments, you get ownership. Basically like buying a used bike on installment except the interest rate a bit higher and you get to choose the exact bike you want.

 

Thanks Zalk! by the way, any shops to recommend?

[Limiter]

can consider taking personal loan from bank

[MrTzm150]

Hi i am new to motorcycle. I still don’t get it about the reloan. So i came across to one of the carouseller, he have fully paid the bike but this one part he said find your own reloan. What is he trying to say eventho the bike is fully paid? N also i have the money to pay the full cash (sorry for the bad english)

Edited July 5, 2019 by MrTzm150

[kaiq]

Seller is assuming buyer doesn't have enough cash. Doesn't apply to you in this case.

 

Hi i am new to motorcycle. I still don’t get it about the reloan. So i came across to one of the carouseller, he have fully paid the bike but this one part he said find your own reloan. What is he trying to say eventho the bike is fully paid? N also i have the money to pay the full cash (sorry for the bad english)

[armani123sg]

Hi i am new to motorcycle. I still don’t get it about the reloan. So i came across to one of the carouseller, he have fully paid the bike but this one part he said find your own reloan. What is he trying to say eventho the bike is fully paid? N also i have the money to pay the full cash (sorry for the bad english)

 

some people will enquire about the bike and ask if loan available. so he is just making it clear there is no loan from him and if buyer needs a loan, he/she should look for a reloan. for your case, you are paying full cash so doesnt affect you.