Great video! Sharing from my personal experience, my first bike was bought using in-house installment (about $380 per month) during my NS time. The first few months were a breeze because I could pay with my NS pay. The pain kicked in once I ORDed and started looking for my next job (There was no grabfood/foodpanda back then). With few months of no income, how was I supposed to pay the $380?. This excluded the maintenance fee (season parking, petrol, saman, monthly servicing, etc). I decided to sell the bike just to get rid of the $380 monthly installment. I lost a lot, but my mental health recovered from the constant stress. Fast forward some years to today, I am now riding a used 2A bike, paid in full. No stress of installment. If they think used bikes are problematic, it means they dont do enough research on how to get the "perfect" used bike. Everything Reezal and Barry said is so true I wish I knew it all back then.
Thank you for your compliment and sharing your experience! Feel free to share the video ! Yes I agree on the used bikes part, not all used bikes are crap, just do the research and judge on your own!
Yes full cash is the best, buy within your means. When your bike don't have instalment you will not likely scrooge on maintenance and when you resell your bikes you will not lose so much. Great video Barry Baltus! Lol
Thank you ! Yeah of course, Full cash is the best but not everyone has the same financial capability. So most importantly, whatever you go for, must be able to handle consequences too! :D
Simply put, in this world only sg residents get to pay the most expensive price for a yamaha, honda, suzuki, kawasaki, kup kia's comparing same models etc. And many just say Boh Bian. Only in singapore. No where else has such a nightmare. The root cause is the tax called COE.
You missed out another loan type that many people might not be familiar with, is credit union loans. A bit like bank loan, but if you are already a member of certain unions, the interest rate might be better, with better terms.
Thanks for sharing! So far, these are the loan types that we are more familiar with. Maybe you might want to share more on the credit union loans in the comment session that might help ?
Also some shops will charge u for a high early settlement fee that wouldn’t make financial sense. Then u will have trouble selling your bike 😬 unless u ask someone to COI which is another risk all together. If not u will be “force” to “trade in” your bike at the same shop in order to upgrade and repeat this loan process all over again. 🙃 forever locked in…
yes I heard of such too. Most importantly, before signing, have to really ask questions to prevent yourself being stuck. Really scary situation indeed.
im a new class 2b rider to be in the future. main concern is just to use it as a form of transport and dont really care about the aesthetics of it, and okay with used bikes as well. what models would you recommend? and i heard that scooters are generally preferred for this mode of transportation, do you agree?
It really depends on what you might need to carry. As for me, I started off with Honda phantom when I got my 2b. At that time, both bikes are the same price, either I take the kawasaki krr 150 or phantom. I chose the phantom because other than daily commute, I carry my camera gears so it makes more sense for my choice of bikes at that time. The best bike is the one you will be the most comfortable with in terms of riding position and control. If there are test rides available, go for it!
The used market for 2B bikes is quite insane now. I passed 2B Jan 2023 and luckily I managed to get a CB190X for a good price with 6 years left and acceptable mileage. Other sellers were selling 1-2k more with lesser COE and more mileage. I was going more for looks though lol. But fuel consumption is not bad around 30-ish KM/L, while keeping it legit 80-90KMH for the highways (don't want to get points!). But the bike has only 5-gears and beyond 90/95KMH, it's already panting 🤣
Wow which motor tiam u go kana 6% 😱 tot the norm is 4% for new & 5% for resale. Go to bigger establishment which usually r lower. My pass few new bikes were @2%.
in Singapore, our motorcycle licence are in 3 categories. First level is Class 2B (Allowed to ride any motorcycles below 200cc), after a year later after we passed, the 2nd level is 2A (Allowed to ride motorcycle between 201 cc to 400 cc) and the final level is Class 2 which allow the rider to ride motorcycles above 400 cc. Hope this helps!
If it is full cash, not a problem. But also must see your licence as in Singapore, a foreign licence would require a conversion but you are allowed to ride in Singapore. Need to check with the authorities for more information.
@@SingaporeProbashiblog.4306 do ensure you read the terms and conditions carefully before you sign any agreement, if you are not sure, remember to ask and ensure you know of everything so you won't end up being surprised with unknown costs in between! Cheers!
Great video! Sharing from my personal experience, my first bike was bought using in-house installment (about $380 per month) during my NS time. The first few months were a breeze because I could pay with my NS pay. The pain kicked in once I ORDed and started looking for my next job (There was no grabfood/foodpanda back then). With few months of no income, how was I supposed to pay the $380?. This excluded the maintenance fee (season parking, petrol, saman, monthly servicing, etc). I decided to sell the bike just to get rid of the $380 monthly installment. I lost a lot, but my mental health recovered from the constant stress. Fast forward some years to today, I am now riding a used 2A bike, paid in full. No stress of installment. If they think used bikes are problematic, it means they dont do enough research on how to get the "perfect" used bike.
Everything Reezal and Barry said is so true I wish I knew it all back then.
Thank you for your compliment and sharing your experience! Feel free to share the video ! Yes I agree on the used bikes part, not all used bikes are crap, just do the research and judge on your own!
Great vid! Good for all new riders who are considering loans
thanks man ! Let's keep the riders community positive together!
Loved how comprehensive this video regarding bike loans was !
Thank you! Glad it helps!
Yes full cash is the best, buy within your means. When your bike don't have instalment you will not likely scrooge on maintenance and when you resell your bikes you will not lose so much. Great video Barry Baltus! Lol
Thank you ! Yeah of course, Full cash is the best but not everyone has the same financial capability. So most importantly, whatever you go for, must be able to handle consequences too! :D
Simply put, in this world only sg residents get to pay the most expensive price for a yamaha, honda, suzuki, kawasaki, kup kia's comparing same models etc. And many just say Boh Bian. Only in singapore. No where else has such a nightmare. The root cause is the tax called COE.
awesome, reasons why i dont take loans as much as possible
Hi, there are Lease to Own schemes which also sound very enticing. Perhaps you can do another tips episode on this?
thanks for suggesting! maybe I'll take a look into it.
@@Motorgrapher Youre welcome, great content by the way. Just nice when I am going around to look for suitable bikes. haha.
COE now is just $10k. World highest broke its own record many times!🤣
yeah indeed... :(
Your calculations are wrong. Compounded interest of 6% based on 850. You will be paying $1360.. :P
So sorry for the error and thanks for pointing out man ! I'll update the error in the description. Thanks again man!
You missed out another loan type that many people might not be familiar with, is credit union loans. A bit like bank loan, but if you are already a member of certain unions, the interest rate might be better, with better terms.
Thanks for sharing! So far, these are the loan types that we are more familiar with. Maybe you might want to share more on the credit union loans in the comment session that might help ?
Please do make a video about how to find second had bike for beginners especially 2B. Thank you
Thanks for your suggestion, I will see what I can come up with. Cheers!
After a year, have you found a 2B second hand bike for beginners how was the experience and how much did you pay for it?
Also some shops will charge u for a high early settlement fee that wouldn’t make financial sense. Then u will have trouble selling your bike 😬 unless u ask someone to COI which is another risk all together.
If not u will be “force” to “trade in” your bike at the same shop in order to upgrade and repeat this loan process all over again. 🙃 forever locked in…
yes I heard of such too. Most importantly, before signing, have to really ask questions to prevent yourself being stuck. Really scary situation indeed.
@@Motorgrapher yea. the problem with youngster is they are too excited just want to get a bike out… don’t care about the long term cost. 🙃
Wheb you say Boh Bian you accept it by avoiding or ignoring the issue
im a new class 2b rider to be in the future. main concern is just to use it as a form of transport and dont really care about the aesthetics of it, and okay with used bikes as well. what models would you recommend? and i heard that scooters are generally preferred for this mode of transportation, do you agree?
It really depends on what you might need to carry. As for me, I started off with Honda phantom when I got my 2b. At that time, both bikes are the same price, either I take the kawasaki krr 150 or phantom. I chose the phantom because other than daily commute, I carry my camera gears so it makes more sense for my choice of bikes at that time.
The best bike is the one you will be the most comfortable with in terms of riding position and control. If there are test rides available, go for it!
The used market for 2B bikes is quite insane now. I passed 2B Jan 2023 and luckily I managed to get a CB190X for a good price with 6 years left and acceptable mileage. Other sellers were selling 1-2k more with lesser COE and more mileage. I was going more for looks though lol. But fuel consumption is not bad around 30-ish KM/L, while keeping it legit 80-90KMH for the highways (don't want to get points!).
But the bike has only 5-gears and beyond 90/95KMH, it's already panting 🤣
Thanks Reezal
WOOO BARRY GONNA BE INFLUENCER LIAO
thanks for your support, catch up soon!
Lets say a bike base price is $4.5k. The coe lets say $9k. Thats like buying 3 bikes at base price. I think this is a world class achievement🤣👏👏👏
Thought vehicle loan are simple interest? Technically is expensive too
Wow which motor tiam u go kana 6% 😱 tot the norm is 4% for new & 5% for resale. Go to bigger establishment which usually r lower. My pass few new bikes were @2%.
There are.. But the main point of this video is to understand what is happening in general. Quite a few new riders signed blindly. So must be careful
What is 2B?
in Singapore, our motorcycle licence are in 3 categories. First level is Class 2B (Allowed to ride any motorcycles below 200cc), after a year later after we passed, the 2nd level is 2A (Allowed to ride motorcycle between 201 cc to 400 cc) and the final level is Class 2 which allow the rider to ride motorcycles above 400 cc.
Hope this helps!
just full cash a bike.. if no money don ride...
If within 20K, probably alot of people still can, after saving up. But upwards of that, quite painful to the wallet lol
Singapore workers can buy bike.
If it is full cash, not a problem. But also must see your licence as in Singapore, a foreign licence would require a conversion but you are allowed to ride in Singapore. Need to check with the authorities for more information.
@@Motorgrapher
Thank you so much vai.
i working in Singapore. Bike is my dream. I like to buy one second hand bike.like 2/3 thousand dollar.
@@SingaporeProbashiblog.4306 do ensure you read the terms and conditions carefully before you sign any agreement, if you are not sure, remember to ask and ensure you know of everything so you won't end up being surprised with unknown costs in between! Cheers!
@@Motorgrapher okay trying
@@SingaporeProbashiblog.4306 Can I ask if you have gotten yourself a bike 2-3k?