Buying a bike under installment

devilplot 4 SG

Hey guys i getting first hand bike.. but i am not 21 yr old yet so do i have to buy e bike under someone else name who is above 21? if yes does that person need to possess class 2b licence? or don’t need..

mhcampboy SG

Bye bye….

devilplot 4 SG

Don't flame me can anot? i trying to get reply from loudness or technoboy...

technoboy SG

Lol, why me? I think you need a guarantor for that.

gigabyte14 SG

i love to fuck your sister Embarassed

caleb_chiang SG

Rolling Eyes

devilplot 4 SG

does that person need to have class 2b? cos u always reply to my question one ma

technoboy SG

I don't think he need to have 2b license, but have some conditions like over 21 years old and have a steady income maybe?

Not too sure about that since I didn't went through this process. Maybe others can advise.

What bike are you getting?

LoudnessFZ SG

erk..why me?i believe there are far more experience and veteran riders here.

but ill tell u what i know;

u can buy first/2nd/3rd or multiple hand bike for as long as u care,but if ur U21.
u need a guarantor..how many guarantors depends on the bikeshop.

but the higher the price of the bike,the more guarantors u need.

these guarantors need not have class 2b,but they have to be above 21 not counting family members or friends,even strangers can be ur guarantor.

if u donno why these guarantors are needed,its for the bikeshop to cover their @ss..even u one day jialat cannot pay..then they will find ur guarantors,and these guarantors then will have to pay for u.

if they still dont pay,then theyll be in trouble,including u.

so i suggest u buy a 2nd hand bike,cheaper and lesser guarantors needed.

so as for the bike ownership,i think if ur still under instalment then the bike is still owned by the bikeshop..only once u finish instalment,then they will transfer the bike ownership to u and ur guarantors are free from them.

so hope that helps

viciouskitty74 SG

To correct some misconception.

Even if you are above 21. You are buying a bike under installment. You will still need a garantor. The only difference is that whether the bike shop trusts you. If they dont, then they will rather you bring along a outside outside garantor.

Generally, some bike shop act as your garantor if they are helping you take the loans from either Mitsui or some other Loan Companies. Thats why they have this thing about repossessing your bike when you dont pay up and agreements issues and so on.

viciouskitty74 SG

You are below 21.
You want to buy a new bike, preferably with a installment plan.

Ans: Yes, you can do the above in your name. You will need gaurantors.

And do take note, that you need to also be aware of additional finances needed for the following:

a) Insurance Premium. Peg at S$1k minimum IN CASH if its not covered with the installment plan you take from the bike shop.

b) Road Tax, COE, ERP Unit, Transfer Fee, Agremeent Fees, Rack & Boxes & even a deposit if they are not covered by the installment plan. Around S$2k.

c) A tank of Petrol; a bottle of chain spray; bike wash items; raincoat & pants; cash card, bike parking coupon & your season parking. (take note that season parking starts in the beginning of the month at some location, so you might be better off using parking coupons and then applying for giro for season parking for the new month.) This should take up at least S$100/- which should stabalise to about $60 a per month.

d) Also do standby rainy days monies, where you might encounter summons. servicing, changing of engine oils and regular maintenance.