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Thread: Buying a bike on EMI is a bad idea ?

  1. #11
    Rookie 40U5513's Avatar
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    Default Re: Buying a bike on EMI is a bad idea ?

    I don't like your plan.

    Will take ages. . . .

    No no no.

    EMI, here I come.
    Quote Originally Posted by jaypatel View Post
    Repair your Bicycle and Call yourself Fitness Freak or something
    .
    No Maintenance + fitness..
    Until u can afford Dominar
    jaypatel likes this.

  2. #12
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    Default Re: Buying a bike on EMI is a bad idea ?

    All the best then brother,
    Before Spending huge amount on Dominar,
    Read Rich Dad Poor Dad or Millionaire next door book...
    Raj_gor likes this.

  3. #13
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    Default Re: Buying a bike on EMI is a bad idea ?

    Quote Originally Posted by 40U5513 View Post
    I don't like your plan.

    Will take ages. . . .

    No no no.

    EMI, here I come.
    Here is another angle that you may wish to look into -
    1) have you decided on the emi amount and loan tenure
    2) what’s the interest rate on the loan
    3) do you have any personal loan offers from your bank
    4) if yes to 3, then what is the interest rate on this loan and the emi amount for the same tenure as the two wheeler loan
    5) if emi amount and the interest of the personal loan is less than that of two wheeler loan then make the right choice

    Benefits
    1) your dream dominar won’t be hypothecated. you will be free to sell whenever you wish to (if at all you wish to)
    2) options for new or pre-worshipped will open up if opted for a personal loan

    Caution
    1) if this is your first outing on personal loan, please be cautious of people offering you very low interest rates verbally and then change it when your are signing the loan agreement.
    2) Run far away from people asking commissions to get you a personal loan. They’ll promise you the sun, moon and the universe, take your money and abscond.
    3) be aware and careful to who you submit your documents for the loan
    4) ensure you write the purpose for which the documents are presented and self attest it with the date
    5) don’t hand over your cheque’s either blank (without signature) or written till the time you sign the loan agreement
    6) Don’t sign the loan agreement unless you receive confirmation of your loan approval via text, email or both

    Hope this helps!!

    Happy Dominar Shopping!!!

    Cheers!
    40U5513 likes this.

  4. #14
    Rusted kb100's Avatar
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    Default Re: Buying a bike on EMI is a bad idea ?

    Quote Originally Posted by cruizer13 View Post
    Hi.just came across this thread.So let me put in my 2 cents worth.
    First and foremost you will not have a credit score if you dont take credit

    H
    As for financing vacations for big borrowers etc is a load of crap in my opinion. Excepting Vijay Mallya, no other business man has run away without servicing their loans. All the other absconding business men have commited straight forward bank fraud in cahoots with bank employees. As far as Mallya is concerned, we will get our money back. We may not get the interest but atleast the principle. This is called arbitration and it is a common enough practice the world over. I did not hear anyone complaining when he was providing best in class service in the airline industry. Even the best of airlines in the world are struggling coz the margins are abysmal.he ventured into a business without having any knowledge whatsoever. Tried to be the best and lost a lot of money. Macro ventures always have bank money and investor money involved. No business man ventures into a multi thousand crore investment with his own money. So banks lost a lot of money. They are equally responsible for not having done their due diligence before giving him a loan. So lets not make villians out of people like Mallya who take risks, make money and generate employment. Sure they dont have any altruistic motives but jobs are generated and economy grows as a side effect of the balls that such people have to take risks and do business.
    Anyways I seem to have gone on a tangent here so let me come back to the point.
    All you guys and girls who dream of a SBK, do go ahead and take the plunge. Save enough for your down payment so that the emi is not more than 20 to 30% of your monthly salary. That should keep you comfortable. As always ATGATT please. Do spend decent money on good gear. After all you need to be in one piece to service that bloody loan

    the guy was siphoning funds from his airlines to paper subsidiaries abroad and it was showing up in its balance sheet , when he was requested by some of the banks to produce the balance sheet of those paper companies , he refused to submit them and using his political influence and intimidation, because of this some banks from the consortium refused to lend and pulled out , if you have funds to finance other companies then why do you need to borrow, if you have to borrow then why spend it on other companies.. simple question, , and coming to due diligence it all goes out the window when you have your yes man running the show, and mallya is no villain , he is just a crook who stole and ran
    how do i know , i work for one banks that pulled out
    cruizer13 likes this.
    Kawasaki KB100/enduro/125 substitute parts list http://www.xbhp.com/talkies/508615-post105.html

  5. #15
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    Default Re: Buying a bike on EMI is a bad idea ?

    Quote Originally Posted by kb100 View Post
    the guy was siphoning funds from his airlines to paper subsidiaries abroad and it was showing up in its balance sheet , when he was requested by some of the banks to produce the balance sheet of those paper companies , he refused to submit them and using his political influence and intimidation, because of this some banks from the consortium refused to lend and pulled out , if you have funds to finance other companies then why do you need to borrow, if you have to borrow then why spend it on other companies.. simple question, , and coming to due diligence it all goes out the window when you have your yes man running the show, and mallya is no villain , he is just a crook who stole and ran
    how do i know , i work for one banks that pulled out
    Thanks for the insight.
    One man's black magic is another man's Engineering

  6. #16
    Rusted Zapps's Avatar
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    Default Re: Buying a bike on EMI is a bad idea ?

    Quote Originally Posted by kb100 View Post
    the guy was siphoning funds from his airlines to paper subsidiaries abroad and it was showing up in its balance sheet , when he was requested by some of the banks to produce the balance sheet of those paper companies , he refused to submit them and using his political influence and intimidation, because of this some banks from the consortium refused to lend and pulled out , if you have funds to finance other companies then why do you need to borrow, if you have to borrow then why spend it on other companies.. simple question, , and coming to due diligence it all goes out the window when you have your yes man running the show, and mallya is no villain , he is just a crook who stole and ran
    how do i know , i work for one banks that pulled out
    I'd still call him a villain not a crook, and yes there are many more villains that need to be unmasked.

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