Hello, I'm interested in buying a secondhand big bike. Looking at the Z900, GSX750, 765 STR for secondhand, and the 800NK if I were to buy a new bike. However, after asking a shop, it's said that for secondhand bikes can only do loan with credit. However, credit (especially for secondhand bikes) are quite expensive. I was quoted with a 7.5 p.a% if credit loan was to be used. Wanted to ask, do banks not do loans for secondhand bikes?

Maybe personal loan with certain bank is cheaper. If possible, get personal loan from bank and buy the bike 'cash'.

either credit or motorcycle shop will offer installment plan for second hand motorcycles, but expect the rate to be much higher than car loan.

Take PA from bank or buy with hard cash, motorcycle shops are in cahoots with credit leasing companies because of the commission rates and they get to eat your 'processing fee'. They typically also mark up the price so high up you're essentially paying 50% or more over MSRP by the end of your loan term

This post has been edited by iambryan1234: Jan 30 2024, 06:44 PM

My previous bike. I took a pl . It was a good offer as I was a loyal citi cc holder.

Very very much cheaper than taking a hire purchase loan

its normal practice. mainly cause the amount loaned is on the lower side

like the rest suggested personal loan is an alternative

how about new bikes? whats the odds to get a 7 year loan?

if new bike no problem.. just show needed documents to aeon credit and high chance you'll get it

which service has lowest rate? no idea.. some shop has 0% credit card purchase but for your credit card to have 50k+ credit limit means you need to be plenty rich

EPF 3rd account may materialize. that might be an option as well for funding

No, too risky

Suggest, take personal loan, and use the money for the bike, serve the loan
Or, save money, and buy cash, it saves on interest, and peace of mind... by the time you saved enough for the bike, you will have better options anyway - 2nd hand Z900SE with Ohlins

Then maybe rather than taking a personal loan (Maybank is 7% p.a%), I'll start my venture into bigger cc bikes with an older Z800 since that's the only bike I can pay in cash. Unless anyone knows banks that do personal loans at a lower p.a% ?

Personally, taking a 7 year loan on a motorcycle is too long.

You can try Bank Muamalat. But their downpayment requirement is stiff.

I'm okay with a hefty downpayment. Bank Muamalat actually does do loans for used bikes from what I can see on their page and PDF.:
https://www.muamalat.com.my/downloads/consu...e-Financing.pdf
This STR 765R really does seem appealing, any opinions?
https://www.facebook.com/marketplace/item/1064846345389224/

do you need a bike?
if not, don't spend to buy anything

Z800 are too old, and they've been end of life with Z900
Z750 - maybe better as mostly CBU Japan
Z1000 also around same price, but higher fuel consumption

GSR750 maybe newer with existing GSXS750 still in production
CBR650F CB650R first second gen or facelift also better option

More of a want as a hobby than a need. If it's just a need, I already have my old Z250. Just looking for an upgrade.

unless it comes with a considerable tag. not to say i have money coming from my eyes but had a bit savings here and there and all other commitments, safety nets are in place hence the 7 year target.