Financing a Big Bike

[Los Luver]

I'm planing to buy a MC on my coming trip. The thing is I have to choose between a Honda rebel 500 and a Suzuki boulevard c50.

- Honda costs 220K. I can afford to buy it cash !

-Suzuki costs 399K. I love it but I can't afford it. I wonder if a foreigner on tourist visa can get a loan to finance a MC. I can pay 230K cash down payment + 12/18 month instalments

Will it help if I got a 6 month Ed visa ?

 

[Mikisteel]

I like the Honda much more and if it were the other way round price wise I'd still like it more. 

 

The big question here is:

 

Can you handle these beasts?

 

My Honda click still surprises me and I'm 5 years in the saddle.

[Kinnock]

Go for the Honda.  No need for finance, can be serviced at all the Big Wing dealers, holds its values, looks cool.

 

And if you don't have much bigger bike experience - go for the 300cc version.  Can be serviced everywhere, cheaper, has enough power for Thailand and looks exactly the same!

[Los Luver]

I have 18 years experience with bikes.

I ride Yamaha Dragstar 650 home and I alaways rent a black Honda Shadow 750 and twice the brown one, 750cc too when in Patts

 

 

 

 

 

[brokenbone]

2 hours ago, Mikisteel said:

I like the Honda much more and if it were the other way round price wise I'd still like it more. 

 

The big question here is:

 

Can you handle these beasts?

 

My Honda click still surprises me and I'm 5 years in the saddle.

it took me a week to adjust from 110 cc to 1100 cc,

they are much heavier tho, people with weak legs

arent really suited to drive them.

i can understand the rationale for old people

ditching them in favor of a scooter at age 60,

or even earlier depending on strength & reaction time,

even more so if you got a passenger

 

[Los Luver]

Please guys, the thread title : Financing a big big.

I wish info about that. Anything about driving is not relevant here. 

[Nickymaster]

not possible without work permit.

 

[baansgr]

Difficult without a WP, dont forget most financing on bikes is 1.5% interest PER MONTH....

[Swiss1960]

No, you will NOT get a loan, except maybe from a loan shark at 10% per month...

 

Nobody else will loan you money, because you have no income in Thailand, you obviously don't live here and you have no assets (I.e. condo, house etc) that could be secured for the loan. 

 

Loan sharks... they would take your bones and your life as "secured asset" should you not pay back in time... 

[Kwasaki]

10 hours ago, Los Luver said:

Honda costs 220K. I can afford to buy it cash !

Way to go saves a lot of hassle.

[eisfeld]

If you can't pay for a toy in cash then that's life telling you that you can't afford it right now and simply should not buy it. Interest rates are too high here. What if your income goes away? You can't quickly sell a bike like that to the next guy around the corner.

 

As mentioned without a work permit it will be difficult if not impossible. Only chance would be with a guarantor maybe.

[jackdd]

You will not get finance if you don't work in Thailand

Finance is too expensive anyway, buy a bike which you can afford to buy cash

[Los Luver]

Thanx lot guys for providing me the info I needed.

[lemonjelly]

You could get a second hand low mileage Kawasaki Vulcan 650 for around 200k.... baht sold usually has a few


Sent from my iPhone using Thaivisa Connect

[fxe1200]

On 8/18/2019 at 4:31 AM, Los Luver said:

Please guys, the thread title : Financing a big big.

I wish info about that. Anything about driving is not relevant here. 

This is all you need to calculate your financing. Even in the MC business rates are in between 6 and 20% effective.

 

http://vindeep.com/Calculators/EMICompare.aspx

[CharlieH]

Off topic removed.

[Lokie]

Gone for the Honda all day long... in a few years you will be glad you did, coupled to the fact you dont need to finance if iread it right (have had bikes all my life, all types all sorts of makes and a Honda after a few years is far better in looks/condition than other makes...) The Rebel looks great also though I have never rode one... Ride them first (rent few days) before you commit but best to not have finance if you can cover cost up front - Good luck anyway and enjoy!

[emptypockets]

Don't forget you will need a Certificate of Residence to buy either bike.  What is your plan for doing that on a tourist visa? 

[onlycw]

Put the balance on a credit card? Barclays has a financing offer for like 4.99% after the purchase. Surely, you do have credit back home?