Announcement

**Samarth 619** · 05-20-2015, 12:23 AM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

Topic Approved.

Well, I do hope Triumph India can keep up the high name earned by its parent company. We all know that the road to these 1600 bikes was not without controversy. Money can be earned later on anytime. Name mostly can't be.

We wish Triumph India and more so, its customers, all the best for a glorious future.

**amritaksha** · 05-20-2015, 05:36 PM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

As Samarth619 has very rightly said these 1600 odd bike have not been without controversy. Triumph caters to a very aspirational segment in our country and the slightest hint of lie would not be acceptable. Power figures would not have meant much if the purchase would have been an easy one and we would have been able to change such bikes at will, however that is not the case.
With what Triumph has done, it has committed the cardinal sin of avarice and that has removed it from the my dream list as well as from that of many others....but maybe it does not matter to them as we are dreamers and would be unlikely to ever afford a Triumph anyway.

**pulsater** · 05-20-2015, 06:29 PM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

The offer: 2,35,000 + 5,99,400 (9,990 x 60) = 8,34,400

Bonneville ex-showroom price, Delhi = 5,99,000

So basically 2,35,000 upfront cost is like the advance interest. In order words you are paying 28% extra on top of ex-showroom price, for the convenience of 5 years repayments. Did I do good in maths?

**Nithesh** · 05-20-2015, 07:28 PM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

Originally posted by pulsater View Post

The offer: 2,35,000 + 5,99,400 (9,990 x 60) = 8,34,400

Bonneville ex-showroom price, Delhi = 5,99,000

So basically 2,35,000 upfront cost is like the advance interest. In order words you are paying 28% extra on top of ex-showroom price, for the convenience of 5 years repayments. Did I do good in maths?

Interest rate applies no? Plus wouldn't they be considering OTR rather than ex-showroom?

**pulsater** · 05-21-2015, 12:15 PM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

Originally posted by Nithesh View Post

Interest rate applies no? Plus wouldn't they be considering OTR rather than ex-showroom?

ya I know. Just saying that the offer is just like any processings of a two-wheeler/personal loan repayments (minus tedious bank paper work hassle). In UK/USA motorcycles are sold by manufacturers on 0% APR (Annual Percentage Rate) which means you don't need to pay any interest annually, if you are regular with your EMIs payments.

**UnsettledNose73** · 05-21-2015, 02:31 PM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

Originally posted by amritaksha View Post

As Samarth619 has very rightly said these 1600 odd bike have not been without controversy. Triumph caters to a very aspirational segment in our country and the slightest hint of lie would not be acceptable. Power figures would not have meant much if the purchase would have been an easy one and we would have been able to change such bikes at will, however that is not the case.
With what Triumph has done, it has committed the cardinal sin of avarice and that has removed it from the my dream list as well as from that of many others....but maybe it does not matter to them as we are dreamers and would be unlikely to ever afford a Triumph anyway.

I think its about time we stop whining about the power figures. Mistakes happen, after all we are humans, I am pretty sure it was just carelessness rather than an ill intention of the company. Plus I think they rightly compensated those who felt deceived. I'd like to look forward to the wonderful years of two wheels in India. We are rising, breathing and riding in fresh air. With so many options and so much to experience what we couldn't even dream of before. I am highly optimistic for each and every company selling Motorcycles in India and I heartly welcome the future of two wheels to my motherland. and I am still considering a Street triple to fulfill my dreams.

----consecutive posts auto-merged-----

Originally posted by pulsater View Post

ya I know. Just saying that the offer is just like any processings of a two-wheeler/personal loan repayments (minus tedious bank paper work hassle). In UK/USA motorcycles are sold by manufacturers on 0% APR (Annual Percentage Rate) which means you don't need to pay any interest annually, if you are regular with your EMIs payments.

That's because in UK/USA generally the financing is done by the manufacturers them self. Here in India they have partnership with HDFC so yeah whatever HDFC says.

**yellowspunk** · 05-21-2015, 03:18 PM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

nothing for the other models?

**Deathmate.Zed** · 05-21-2015, 05:18 PM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

Originally posted by UnsettledNose73 View Post

I think its about time we stop whining about the power figures. Mistakes happen, after all we are humans, I am pretty sure it was just carelessness rather than an ill intention of the company. Plus I think they rightly compensated those who felt deceived. I'd like to look forward to the wonderful years of two wheels in India. We are rising, breathing and riding in fresh air. With so many options and so much to experience what we couldn't even dream of before. I am highly optimistic for each and every company selling Motorcycles in India and I heartly welcome the future of two wheels to my motherland. and I am still considering a Street triple to fulfill my dreams.

People have stopped whining about the power figures fiasco, but it has left a bitter memory in their minds. And Triumph is not a 'human', it is a company who has more responsibilities than mere 'humans'. Ask the people who have paid for this mistake. And the real issue wasn't the detuned power figures, but the company's blatant refusal to compensate citing 'read fine print'. What if the owners had not raised this issue so much? Do you feel the company would have honestly compensated by themselves?

Whether the owners have been justifiably compensated or not is their personal opinion, and I would not comment on it.

And yeah I welcome all manufacturers to our motherland, provided they respect the customers of our motherland and not take them for granted.

**rachitsharma2000** · 05-22-2015, 12:02 AM

Triumph Bonneville at EMI Of Rs 9,990: Stupidest scheme. EVER!

As usual, I was surfing automobile news in the morning when one article caught my attention.

Pay an EMI of Rs 9,990 for half a decade and bring home a Triumph Bonneville | Motoroids

Having worked in the unsecured loans department of one of the largest bank in India, the numbers did not make sense. There was something very wrong with them. To ascertain my doubts, I called up the Triumph showroom in Mumbai and found the news to be true with a minor difference in the ex-showroom price.

Basically, in Mumbai the ex-showroom price is Rs. 6.3 Lacs and down payment is Rs. 2.66 L. So, loan value is Rs. 3.64 L

A few keyboard strokes later on excel, I knew what exactly was wrong with these numbers. You can try out the calculations yourself:

= RATE(60,-9990,364000,0)*12

(where 60 = number of months
9990 = EMI
364000 = Loan amount)

So, the rate of interest for this scheme comes out to be freaking 21.7%!!!

To put things into perspective, if you are a salaried individual working with a reputed IT firm like TCS etc and decent credit history, ICICI Bank and HDFC Bank offer personal loan at 13% to you. Without ANY security. Without any guarantor. Without the need of hypothecation of your vehicle. Within 48 hours! This amounts to an EMI of about Rs 8282. Assuming a higher rate of interest of 15% also gives an EMI of Rs. 8660.

Even the shady moneylender in my hometown charges 1.5% per month, ie, 18% annual rate of interest.

I don't know what, or rather, if the managers in Triumph were thinking before rolling out this scheme. Either they don't understand a word of Finance or they think Indian customers don't.

A piece of advice if anybody is planning to avail this scheme: Don't. This is daylight robbery. Better apply for a Personal Loan at a reputed bank.

**krishna77** · 05-22-2015, 12:35 PM

Re: Triumph Bonneville at EMI Of Rs 9,990: Stupidest scheme. EVER!

That's some good maths. Hope Triumph learns from the mistakes it made in the past and don't repeat them!

**pulsater** · 05-22-2015, 01:15 PM

Re: Triumph Bonneville at EMI Of Rs 9,990: Stupidest scheme. EVER!

Originally posted by rachitsharma2000 View Post

As usual, I was surfing automobile news in the morning when one article caught my attention.

Pay an EMI of Rs 9,990 for half a decade and bring home a Triumph Bonneville | Motoroids

Having worked in the unsecured loans department of one of the largest bank in India, the numbers did not make sense. There was something very wrong with them. To ascertain my doubts, I called up the Triumph showroom in Mumbai and found the news to be true with a minor difference in the ex-showroom price.

Basically, in Mumbai the ex-showroom price is Rs. 6.3 Lacs and down payment is Rs. 2.66 L. So, loan value is Rs. 3.64 L

A few keyboard strokes later on excel, I knew what exactly was wrong with these numbers. You can try out the calculations yourself:

= RATE(60,-9990,364000,0)*12

(where 60 = number of months
9990 = EMI
364000 = Loan amount)

So, the rate of interest for this scheme comes out to be freaking 21.7%!!!

To put things into perspective, if you are a salaried individual working with a reputed IT firm like TCS etc and decent credit history, ICICI Bank and HDFC Bank offer personal loan at 13% to you. Without ANY security. Without any guarantor. Without the need of hypothecation of your vehicle. Within 48 hours! This amounts to an EMI of about Rs 8282. Assuming a higher rate of interest of 15% also gives an EMI of Rs. 8660.

Even the shady moneylender in my hometown charges 1.5% per month, ie, 18% annual rate of interest.

I don't know what, or rather, if the managers in Triumph were thinking before rolling out this scheme. Either they don't understand a word of Finance or they think Indian customers don't.

A piece of advice if anybody is planning to avail this scheme: Don't. This is daylight robbery. Better apply for a Personal Loan at a reputed bank.

Thank You. You just put things in order to what I was trying to say in my previous post. The scheme is not that attractive if you get down to real maths and realize that one will end paying too much extra money as interest for next 5 years of his life.

**s1d** · 05-22-2015, 02:51 PM

Re: Triumph Bonneville at EMI Of Rs 9,990: Stupidest scheme. EVER!

Originally posted by rachitsharma2000 View Post

Having worked in the unsecured loans department of one of the largest bank in India, the numbers did not make sense. There was something very wrong with them. To ascertain my doubts, I called up the Triumph showroom in Mumbai and found the news to be true with a minor difference in the ex-showroom price.

So, the rate of interest for this scheme comes out to be freaking 21.7%!!!

Even the shady moneylender in my hometown charges 1.5% per month, ie, 18% annual rate of interest.
A piece of advice if anybody is planning to avail this scheme: Don't. This is daylight robbery. Better apply for a Personal Loan at a reputed bank.

You my friend should be the financial adviser on loan related queries here on xbhp

Quiet a few of these two wheeler loans need some analysis to find the true rate of interest charged.

**Freak inExile** · 05-22-2015, 03:52 PM

Re: Triumph Bonneville at EMI Of Rs 9,990: Stupidest scheme. EVER!

Originally posted by rachitsharma2000 View Post

A few keyboard strokes later on excel, I knew what exactly was wrong with these numbers. You can try out the calculations yourself:

= RATE(60,-9990,364000,0)*12

(where 60 = number of months
9990 = EMI
364000 = Loan amount)

So, the rate of interest for this scheme comes out to be freaking 21.7%!!!

For further fiddle here is a tool:

EMI Calculator for Home Loan, Car Loan & Personal Loan in India

http://emicalculator.net/

EMI Calculator - Calculate Equated Monthly Installment (EMI) for Home Loan / Housing Loan, Car Loan & Personal Loan in India (with interactive charts)

**Robert** · 05-22-2015, 04:24 PM

Re: Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

They make great bike for an affordable price ! That's a perfect recipe of success

Announcement

Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

Triumph Motorcycles sells 1600 bikes in 2 years in India: xBhp News

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment