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The problem is, they've seen a lot of loans go bad, and in the name of being cautious, they go overboard. I've heard of nationalised banks which are penalising loan officers for granting loans without proper scrutiny, by cutting their retirement pension etc. So, can't blame them for going slow and asking for too many papers.Originally posted by n_aditya View PostNothing taken personally Akhil. Apologies if my post reflects that. My experience was at that branch and the quality of interactions has seen a decline over time (even for everyday transactions).
I was inquiring for a 2L loan and was asked to provide documents which showed assets ranging from no. of vehicles at home, property documents, deposits in various banks with account types and numbers, mutual fund details, etc. At that time i felt they were asking for too much.
But yeah, in general, these banks have become even more inefficient. It is quite frustrating."Tough times never last, but tough people do." - Robert Schuller
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R.I.P Kriss; 15.06.1981 - 11.10.2009 -- You will not be forgotten.Comment
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5 years....
personal loan for second hand bikes??
but aint the rates on personal higher??/ like somewhere around 18-20%??Timon: Orange Yamaha FZ16 2009
Optimus: Red Mahindra XUV500 W8 FWD 2013
Atom: Red Tata Nano XTA 2016
Pumba: Red Harley Street 750Comment
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Ahhh... makes more sense now.Originally posted by kinshuk.arya View Post5 years....
personal loan for second hand bikes??
but aint the rates on personal higher??/ like somewhere around 18-20%??
Thank god that I have not been smitten by R1.
I have been eyeing the Hyosung ST7 and more recently the Kawasaki Z1000 (based on rumors only.. nothing concrete).
I hope these bikes will not rape my bank account.
The question about 2nd hand bikes was for the benefit of anyone looking to buy one. Personally I am not that into second hand stuff.sigpicComment
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upto 21.5%Originally posted by kinshuk.arya View Post
wasn't suggesting he go for it...
just that it's more or less the only option for a used-bike..
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Okay, not sure what you mean, but it's really not the bike which will impact your bank account, but the bank and the loan that you chooseOriginally posted by The Bad Wolf View PostAhhh... makes more sense now.
Thank god that I have not been smitten by R1.
I have been eyeing the Hyosung ST7 and more recently the Kawasaki Z1000 (based on rumors only.. nothing concrete).
I hope these bikes will not rape my bank account.
The question about 2nd hand bikes was for the benefit of anyone looking to buy one. Personally I am not that into second hand stuff.
Lots of people take personal loans to buy new grey market bikes as well.Originally posted by xionite View Postupto 21.5%
wasn't suggesting he go for it...
just that it's more or less the only option for a used-bike."Tough times never last, but tough people do." - Robert Schuller
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R.I.P Kriss; 15.06.1981 - 11.10.2009 -- You will not be forgotten.Comment
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yup. coz the "discount" on the bikes make the 21.5% ROI a good deal.Originally posted by rossiter View Post
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I meant that the mighty R1 is an expensive SOB. Had I been in love with it... then I would have had to shell out a considerably larger amount.Originally posted by rossiter View PostOkay, not sure what you mean, but it's really not the bike which will impact your bank account, but the bank and the loan that you choose
I am happy that my tastes are more inclined towards the cruiser and naked variety.
Obviously the bank and the loan type are important factors but the price of the bike itself matters. The ST7 on road costs something like half of the R1s ex showroom price.sigpicComment
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Good for you that you have not been bitten by the full fairing bug.... I am also ppsitive bout the rumours of the zx10r at the price range of less than 10lakhs otr.... Seeng the ninja650s pricing i think kawasaki will do it also....Originally posted by The Bad Wolf View PostI meant that the mighty R1 is an expensive SOB. Had I been in love with it... then I would have had to shell out a considerably larger amount.
I am happy that my tastes are more inclined towards the cruiser and naked variety.
Obviously the bank and the loan type are important factors but the price of the bike itself matters. The ST7 on road costs something like half of the R1s ex showroom price.Timon: Orange Yamaha FZ16 2009
Optimus: Red Mahindra XUV500 W8 FWD 2013
Atom: Red Tata Nano XTA 2016
Pumba: Red Harley Street 750Comment
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Yeah... the faired bike craze in India knows no bounds.Originally posted by kinshuk.arya View Post
I had my heart set on the gorgeous ST7 (about 6 lakh OTR) but a couple of days back I heard rumors about the devilishly handsome Ninja Z1000 and that made me stop in my tracks.
Not sure about ZX10R but rumors say that the Ninja Z1000 could be launched (by end of current fiscal year) at under 8 lakh OTR - reported by trustvishwas.
So I have decided to wait it out till the news is confirmed. After all I can buy only one badass bike for now and the info provided by senior members in this thread would help a lot.sigpicComment
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my source about the zx10r is also same.... and i dont think there is a ninja tag before the z1000....... it is one good looking bike, aggressive styling, looks that mean business.....Originally posted by The Bad Wolf View PostTimon: Orange Yamaha FZ16 2009
Optimus: Red Mahindra XUV500 W8 FWD 2013
Atom: Red Tata Nano XTA 2016
Pumba: Red Harley Street 750Comment
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Sharing few thoughts on loaning a motorcycle
Following the American foot steps, hairpin to aeroplane's are available on loans & bank's are chasing to put people in debt at a wink of an eye.
To me, loan for a vehicle sounds little hard to digest as its an asset for heart, but, if one thinks right out of brain, the reality might be hard to digest. For the moment, lets keep buying something out of necessity aside & talk about buying something for lifestyle.
On one side, people pay a hefty 15% interest, then the fuel price (which is more than what is sold in the west) & add to that the expensive maintenance. Quite possible for people may have fat pay cheques, but, certainly to be entertained after having few solid assets. Otherwise, one is certainly bound to regret in long run for sure.
My principle has always been, save for the life style & then postpone the purchase, rather than buying it now & paying for it later. That way, it helps to accumulate interest, yield for better products & take informed decisions.Skill is what keeps you on a Motorcycle
Awareness + Skill is what keeps you out of harm's way
ATGATT + Awareness + Skill means you might Live To Ride another dayComment
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You are right... thanks for the correction.Originally posted by kinshuk.arya View Post
Very well said aargee!Originally posted by aargee View Post
Personally I believe that if my cant pay for something using my debit card... then I do not need it.
But then again, hunting for information helps in getting such valuable advice
Very wise words indeed... I would urge any young guys out there looking to take out exorbitant loans to pay heed to your advice.sigpicComment
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instead of taking heavy loans one can always go for a used bike (an option i am seriously considering and hoping that in the next 2 years i should be able to afford one)
plus also seeing the change in the pricing standard set by the hyosung, kawa and cbr250r i am hoping that in the next couple of years one should be able to buy a litre class sbk within a 10 lakh rs range which if happens will reduce the prices of the used bikes significantly....Timon: Orange Yamaha FZ16 2009
Optimus: Red Mahindra XUV500 W8 FWD 2013
Atom: Red Tata Nano XTA 2016
Pumba: Red Harley Street 750Comment
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