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finance O____O ?

Discussion in 'Businesses and Service Providers' started by kpun, May 26, 2011.

  1. hey guys i was wondering if anyone knows how the finance would work if i bought a bike from a private dealer, directly from a person?

  2. need to do your homework. dealer finance can be very expensive. talk to a bank?
  3. Hu? Any way you want it to work.
  4. You can take out a personal loan/finance loan of your choice from a provider of your choice, and then pay the required funds to the person your buying the bike private from.

    However finance companies generally have rates based on type of bike and age of bike, I.E. higher rates for older bikes, lower rates for brand new bikes.

    Personal loans are generally secured or non-secured. GOOGLE is your friend.
  5. All the above.
    Rates can be based on various things - ie. age, credit history and value of the bike,
    as finance companies only value the bike on bottom market price, so if your purchasing a bike that is being sold for higher (ie because it has alot of aftermarket junk, or low ks'..etc), they may not loan you the full amount!
    But thats all still based on your borrowing power.

    Just go find the mob you want to loan from, or the mob that will give you the loan.
    If its going to be secured against the purchase, the lender will just need proof of purchase (ie copy of rego papers).. as they own it till you pay it off.
  6. What's the scenario kpun? Is this one of those reseller places that sell bikes on consignment?? If yes, they're shiftier than quicksand!
  7. You would make an application, have it approved. Then you would need to proovide the purchase order to the finance company, they would transfer the funds to the seller or write you a cheque to give to the seller.