Questions About Buying Used Bike From Shop w/ Hire Purchase

[sPo0n]

Dear All,

 

Intending on getting my first bike soon, got quite a few doubts needed to be answered. Say, i saw a class 2b bike (tzm/sp/krr/ta200) at a shop i really fancy, so first thing first i ask the person what's the OTR price which is around $3k - (fyi, i am still a p-plater)

 

so now the doubts,

- is $500 enough for downpayment "normally" ?

 

For the other $2.5k i intended to get a loan for 1yr

- can be done?

- estimate interest rate?

- do i need guarantor? 1 or 2? (how they judge if you need one?) i earn ard $1.6k should not have problem paying the monthly loan ma or they die die must need one?

 

I try browsing through the forum but not all questions are answered fully so don't flame me please and thanks folks!

[SparkerS1]

Dear All,

 

Intending on getting my first bike soon, got quite a few doubts needed to be answered. Say, i saw a class 2b bike (tzm/sp/krr/ta200) at a shop i really fancy, so first thing first i ask the person what's the OTR price which is around $3k - (fyi, i am still a p-plater)

 

so now the doubts,

- is $500 enough for downpayment "normally" ?

 

For the other $2.5k i intended to get a loan for 1yr

- can be done?

- estimate interest rate?

- do i need guarantor? 1 or 2? (how they judge if you need one?) i earn ard $1.6k should not have problem paying the monthly loan ma or they die die must need one?

 

I try browsing through the forum but not all questions are answered fully so don't flame me please and thanks folks!

 

haizzz, ok, downpayment now for u should be $1000 cos of the rising insurance n p-plate.

the balance can be paid by installments, if one yr, ask the shop to calculate for u, then nowadays buy bike very easy, shops nowadays provides a lot of services, just step in n ask.

 

that time i must have guarantor, for ur case u can ask them also.

then u even earn more than me, i maintain 2 bikes somemore, so shouldn't be a problem to u

[sPo0n]

1000 downpayment is not a big issue just that finding a guarantor really troublesome, dun wanna trouble ppls also

 

haizzz, ok, downpayment now for u should be $1000 cos of the rising insurance n p-plate.

the balance can be paid by installments, if one yr, ask the shop to calculate for u, then nowadays buy bike very easy, shops nowadays provides a lot of services, just step in n ask.

 

that time i must have guarantor, for ur case u can ask them also.

then u even earn more than me, i maintain 2 bikes somemore, so shouldn't be a problem to u

[SparkerS1]

1000 downpayment is not a big issue just that finding a guarantor really troublesome, dun wanna trouble ppls also

 

haha, no choice, that time i ask my friend to be guarantor cos parents not free

[sPo0n]

okies thanks bro

 

haha, no choice, that time i ask my friend to be guarantor cos parents not free