Help with Reloan

[BrOkEn]

Hey guys,

 

I've did a search and read through some threads about reloans, but after calling up some of those bikeshops to ask about their reloan services, seems that they either do not provide them anymore or not for my bike.

 

Btw, I'm riding a NSR 150 SP.

 

Shops that I called:

-Bike Productions

-Pleasure Motorsports

-Everbright Motors

-HKL

-Hitachi Credit

-Wing Yap Motors

 

Why is it so hard to find a bikeshop that does reloan now a days? I think the only confirmed place that does it is AS Phoon. Is it because when bikeshops don't provide reloan, private sellers like us will have no choice but to push in our bike to the bikeshop if we cannot find buyers who are willing to pay full cash? IMO, that sucks big time.

 

By the way, if you guys know any bikeshops that confirm provide reloan services for SP, please let me know here or drop me a PM k? Really appreciate it.

 

Thanks!

[SparkerS1]

thats the way on how they do business, they wanna take in bikes cheap, do up abit then sell ex.

 

maybe they dun wanna take risk?

they scared of bike shop becoming finance company?

they feel troublesome collecting installments?

the interest rate too low? they wan higher interest then they implentment bikeshop reloan?

 

i dunno whats their reason

[BrOkEn]

thats the way on how they do business, they wanna take in bikes cheap, do up abit then sell ex.

 

maybe they dun wanna take risk?

they scared of bike shop becoming finance company?

they feel troublesome collecting installments?

the interest rate too low? they wan higher interest then they implentment bikeshop reloan?

 

i dunno whats their reason

 

Hey SparkerS1, thanks for your inputs on this matter.

 

yeah. guess that they also want to try to have a control on the market instead of allowing private sellers to take away their business. because private sellers do not need to pay rent, pay staff salaries, earn income, that's the reason why bikeshops tend to mark up the price of bikes bought from them, they have to earn a living right?

 

hMm. i feel that they won't be taking a risk if they provide the reloan services, because first, as the bike is not bought from them, i believe that it will be fair to charge a higher interest rate, so that it will be worthwhile on their investment. as for the installments, the buyer will have to go down every month to pay for it. therefore no hassle in this.

 

and also i believe that when they offer the reloan service, they can keep a 2nd key and repossess the bike if the owner defaults on his payments.