Finance Option for Super Bikes

DirtyHarry · 15th April 2009, 10:45

Bushan is very high and that's the reason I asked if anyone has availed bank loans (minus private finance institutions) for super bikes.

My friend Prefers either Fireblade or R1.

The reason why nobody finances privately imported bikes is due to non-availability of comprehensive insurance in case of fire/accident etc.

DirtyHarry · 15th April 2009, 13:31

Quote:

Originally Posted by GTO

You guys may also want to consider getting a personal loan, if you encounter a problem in bike financing. Many banks offering competitive rates out there. Also, don't overlook the loan against fixed deposit option.

I doubt any finance company will cover a privately imported bike.

Thanks GTO, prefer to deal with a bank and avail a autofinance option. I was told that Bushan charged about 7% interest till end of feb or march.

Jonny Bravo · 15th April 2009, 14:13

if we dont any option for insured & financed import sbk then we should be safe & buy from Yammie INDIA with BAF finance & some Comprehensive Insurance. I have gone this way & am very happy as i feel safe for my Super Purchase its legal, insured & proper warranty cover PRAPT SBK

runeet · 15th April 2009, 14:42

err sorry for asking a noob question but exactly do you mean by comprehensive insurrance for the bike?

Jonny Bravo · 15th April 2009, 16:55

Comprehensive Insurance = where the vehicle is covered by insurance for any event of total loss/theft etc etc

3rd party insurance = In case of any accident then the party you bang you vehicle can claim damages from your insurance agency

(hope I am right)

darklord · 16th April 2009, 05:31

Isn't there some sort of a ceiling for two wheeler loans? I have heard about some Cooperative Banks having a ceiling as low as 35,000, though in case of nationalized banks, the case will be quite different.

straight6 · 16th April 2009, 12:30

Axis bank also finances but only for the Yamahas.

Jonny Bravo · 16th April 2009, 13:33

Quote:

Originally Posted by straight6

Axis bank also finances but only for the Yamahas.

are they any cheaper then the BAF folks ... for yammie SBKs ... as BAF charges 8%flat interest for full tenure.

hiren.mistry · 16th April 2009, 14:02

Quote:

Originally Posted by black12rr

A person I know had his bike(R1) financed by canara bank also (they were fast and ICICI lost it with too much of pain in a$$ ) .

IIRC, that person was Akhil aka Rossiter from XBHP (I think he is around this forum as well).

Cheers

DirtyHarry · 16th April 2009, 19:47

Quote:

Originally Posted by runeet

err sorry for asking a noob question but exactly do you mean by comprehensive insurrance for the bike?

Comprehenisve insurance covers you for damages done to your own bike and onto others and for thefts/damages.

DirtyHarry · 16th April 2009, 19:50

Wonder if Yams and Hondas have their own finances like the 4 wheeler finances like Ford finance etc.

Does anyone know of anyone who has availed loan for 1000RR in India?

Jonny Bravo · 16th April 2009, 22:40

for YAMAHA you have BAF but other du-pahiya wahan makers dont have their own subsidiary but they may be trying to have some tie-up with other banks etc to be able sell their bikes like YAMs do.

straight6 · 16th April 2009, 22:51

Just spoke to Honda today. They have tied up with HDFC. Horrible bank.

Technocrat · 17th April 2009, 12:20

WHy do you say so, its one of the best banks when it comes to loans.

IronWolf · 17th April 2009, 13:31

So as a FYI can someone post whats the On Road Price and finance options, like Down payment amount + EMI per month for x years? - For CBR1000RR, R1, MT-01 and the Busa?

15th April 2009, 10:45	#16
DirtyHarry BHPian Join Date: Mar 2008 Location: Bangalore Posts: 59 Thanked: 8 Times	Bushan is very high and that's the reason I asked if anyone has availed bank loans (minus private finance institutions) for super bikes. My friend Prefers either Fireblade or R1. The reason why nobody finances privately imported bikes is due to non-availability of comprehensive insurance in case of fire/accident etc.
	() Thanks

15th April 2009, 14:13	#18
Jonny Bravo BHPian Join Date: Nov 2008 Location: india Posts: 209 Thanked: 5 Times	if we dont any option for insured & financed import sbk then we should be safe & buy from Yammie INDIA with BAF finance & some Comprehensive Insurance. I have gone this way & am very happy as i feel safe for my Super Purchase its legal, insured & proper warranty cover PRAPT SBK
	() Thanks

15th April 2009, 14:42	#19
runeet BHPian Join Date: Nov 2008 Location: Pune Posts: 43 Thanked: 0 Times	err sorry for asking a noob question but exactly do you mean by comprehensive insurrance for the bike?
	() Thanks

15th April 2009, 16:55	#20
Jonny Bravo BHPian Join Date: Nov 2008 Location: india Posts: 209 Thanked: 5 Times	Comprehensive Insurance = where the vehicle is covered by insurance for any event of total loss/theft etc etc 3rd party insurance = In case of any accident then the party you bang you vehicle can claim damages from your insurance agency (hope I am right)
	() Thanks

16th April 2009, 05:31	#21
darklord BHPian Join Date: Oct 2007 Location: TVM (KL-16) Posts: 743 Thanked: 3,112 Times View My Garage	Isn't there some sort of a ceiling for two wheeler loans? I have heard about some Cooperative Banks having a ceiling as low as 35,000, though in case of nationalized banks, the case will be quite different.
	() Thanks

16th April 2009, 12:30	#22
straight6 Senior - BHPian Join Date: Oct 2007 Location: Bombay Posts: 2,548 Thanked: 296 Times	Axis bank also finances but only for the Yamahas.
	() Thanks

16th April 2009, 19:50	#26
DirtyHarry BHPian Join Date: Mar 2008 Location: Bangalore Posts: 59 Thanked: 8 Times	Wonder if Yams and Hondas have their own finances like the 4 wheeler finances like Ford finance etc. Does anyone know of anyone who has availed loan for 1000RR in India?
	() Thanks

16th April 2009, 22:40	#27
Jonny Bravo BHPian Join Date: Nov 2008 Location: india Posts: 209 Thanked: 5 Times	for YAMAHA you have BAF but other du-pahiya wahan makers dont have their own subsidiary but they may be trying to have some tie-up with other banks etc to be able sell their bikes like YAMs do.
	() Thanks

16th April 2009, 22:51	#28
straight6 Senior - BHPian Join Date: Oct 2007 Location: Bombay Posts: 2,548 Thanked: 296 Times	Just spoke to Honda today. They have tied up with HDFC. Horrible bank.
	() Thanks

17th April 2009, 12:20	#29
Technocrat Senior - BHPian Join Date: Feb 2004 Location: GTA Posts: 14,813 Thanked: 2,700 Times	WHy do you say so, its one of the best banks when it comes to loans.
	() Thanks

17th April 2009, 13:31	#30
IronWolf Senior - BHPian Join Date: Jun 2007 Location: Benga-loo-ru Posts: 1,569 Thanked: 45 Times View My Garage	So as a FYI can someone post whats the On Road Price and finance options, like Down payment amount + EMI per month for x years? - For CBR1000RR, R1, MT-01 and the Busa?
	() Thanks