How much u all dp for a new Cl 2 typically ~$24K bike?

[Guest NPNT]

I tink bikeshops follow SIMPLE INTEREST, while xb84 is using COMPOUND INTEREST.

 

am i right? or wrong?

 

and merlino.. ur qn... a bit too kaypo ady. haha.

[xb84]

my final attempt to explain.

 

xb84 loans newbie $100,000 to be repaid in 2years at an interest rate at 10%.

 

in the first year, newbie repays me $50,000 and $10,000 (interest). my capital outlay was $100,000. i have earned my 10% interest on the $100,000 capital outlay.

 

the balance amount that newbie owes me is $50,000, and i have already taken back the $50,000 and i can loan the $50,000 to someone else already.

 

in the second year, newbie owes me a balance of $50,000 to be repay and similarly interest at $10,000. my capital outlay here is only $50,000. i have effectively earned 20% on the $50,000 capital outlay.

 

 

 

 

first year ..... i use $100,000 to earn ..... interest of $10,000

second year ..... i use $50,000 to earn ..... interest of $10,000

[xb84]

I tink bikeshops follow SIMPLE INTEREST, while xb84 is using COMPOUND INTEREST.

 

am i right? or wrong?

 

and merlino.. ur qn... a bit too kaypo ady. haha.

 

wrong lah...

[xb84]

credit cards --------- compound interest

auto loans ---------- fixed rate

hdb loans ---------- reducing balance

[xb84]

lets make life simpler....

 

just go take a loan.......

 

buy $12k bike..... go take 2yr loan.... after 2yrs.....

 

...... buy $24k bike ....... go take another 2yr loan..... after 2yrs......

 

...... buy $48k car ......... go take another X yr loan...... after X yrs....

 

....... buy $x car ........ go take another X yr loan........

 

 

just LOAN, LOAN, LOAN. happy can liao. from singapore zoooooom to thailand and back in 24hrs and be declared an iron butt......

[fantom]

i understand ur method.. so called point of view from bikeshop.. but eventually the lender still collect the principle and interest which he deserve. he doesnt take more, or less.

[ramen71]

Wildcard,that's a nice and practical explanation,

Not every1 can afford to pay more than 30% d/p for the 1st bike,infact myself had paid 2k for my previous bike and loan up to 4 years,i dun really bother and calculate on those intrest rate as i pretty much love on cl2 bike and keen to own it..so i did it finally..

[xb84]

Credit makes our lives so much BETTER.

[YEN96]

Lets put it this way..there are reallie rich pple in this society..and i mean reallie loaded rich.

 

ASK YOURSELF this question....How many Singaporeans are totally "Debt Free???? " = NVR OWE money at all to banks & finance companies.

ARE YOU DEBT FREE or NOT ??? WHO wll choose to be in debts & liabilities !

 

BUT BUT BUT There are people who are debt free on this island.

LET group this debt free people into 2 categories:

Category A

5 room HDB Flat - FULLY paid UP

Honda Civic - FULLY paid up

Yamaha R1 - fully paid

 

Category B

Bungalow in district 9 - Owner bought this property - CASH deal

Ferarri - Never realli drive, buy for display purposes - Cash deal

Mercedes S class - Never test drive, jus call agent, say wanna book car, set date to collect. thats all ...CASH payment !

DUcati 1098 - Seldom ride ..1yr maybe clock 1000km mileage, paid cash

 

More often than not, depends on your "urge", "impulsive" , rational thinking.

Option A - Would you choose to take a 6 yr loan for a R1 ?

OR

Option B - If you could save enough for 2 years to make a CASH deal for the R1 ??

This is a personal decision...how long loan, how much interest incurred, depends on your personal "level of comfort"

 

thanks

[Sky99]

did TS managed to get his bike?

[Guest NPNT]

did TS managed to get his bike?

 

u say leh?

[minorsage]

u say leh?

 

how much downpayment and how long loan-period?

[Cool79]

buy 2nd hand 1 la.... u r new to class 2 bikes right?

get a 2nd hand ride for 2 yr or so then change to 1st hand lo

 

 

but if u want to buy 1st hand... try to down as much as u can... set aside 2k like dat.... u confirm sure will mod 1.... DB, slider n etc... n also bra... total will be abt 1k... plus brake hose le...