The Bad Wolf

Just wanted to know if any of the members on here have actually secured a bank loan for their R1, Hayabusa, FZ1 or the Ducati Monster.

If yes, what are the details regarding -

• Loan Eligibility and Documents Required
• Is a guarantor needed?
• What percent of loan can be approved
• What is the loan duration
• Processing fees or charge etc.
• Any special schemes?

The only thing I found so far is that HDFC bank has a finance scheme available for Harley Davidson bikes. I am trying to contact them and see if they do it for other brands too.

Would be good if the members can provide any insights into the process.

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Noor

Thread approved

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aargee

Add ICICI for HD motorcycles - ICICI Bank two wheelers loans, Service Charges for two Wheeler Loans (see bottom)
And I assume, Kawasaki motorcycles should be financed by Two Wheeler Loan - Bajaj Finserv Lending
And Yamaha CBU's again from BAF I guess - Products | India Yamaha Motor Pvt. Ltd.

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The Bad Wolf

According to the website -

"Currently two wheeler loans are offered on Harley Davidson models only."

Looks like they are not even catering to the common commuters

I wonder how the people going for Ninja 650R are financing their purchases.

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diehard

They do finance other bikes Got the loan for FZ1 from them only
The area manager actually gave me an insight ! almost 50 HD, 30 Ducaties , 4 or 5 yamahas and couple of suzukies !

BTW keep negotiating on the price and the interest !! thats the only way to bring the crazy interest rates down from double to single !!

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n_aditya

See this - Bank of India

From the above link "The Scheme provides loan for purchasing 2/4 wheeler vehicles (like car, scooter, motorcycle etc.). Maximum amount of loan is Rs. 25 lacs, depending upon cost of vehicle & income of proponent, at attractive rate of interest and easy repayment plan".

I approached the Bank of India branch in my neighborhood when i was to buy my ninja but they require extensive documentation. Plus they went back on the interest amount committed (10.50%) saying that was a festive offer and the new one was 11.25%. For a measly sum, the amount of documentation they needed inspite of being a customer for over 25 years made me feel that i was taking a multi crore loan. Dropped the idea of a loan from these banks.

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kinshuk.arya

is it possible to bargain on the interest rates as well???

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The Bad Wolf

Wow!.. did not know that interest rates could be bargained for. I am still waiting for HDFC's call. good to know about this in advance.

and that is a lot of HDs and Ducatis selling considering Bangalore only!

Agreed! SBI can also be a major pain in the ass with their processes.

Well we do know that now

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kinshuk.arya

^^ yeah thnx to your post.... i had enquired about the financing schemes for the r1 a couple of months back... the downpayment required was around 6 lakh and the rest can be financed through the dealer itself... the roi for a 5 year loan was around 12% and the emi was coming to be around 22k

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RIP VINU.... May you get the bike and ride of your dreams in heaven.....

My Gallery: http://www.500px.com/kinshuk_arya
My Dream: 168mph + 998cc + 150bhp

Fz headlight with p220 PROJECTOR setup for sale. PM me for details. for pics (http://www.facebook.com/media/set/?s...0533996&type=1)

The Bad Wolf

Thanks for the info mate... This should come in handy for prospective big bike customers like me... who are just beginning to look around for info.

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