Bikes as security

[Toast]

Hi.

Anyone know of a lending institution (preferably not dodgy), which will use a fully insured, road registered bike as security for a loan?

It seems screwed to me that this is treated differently from a car if it has full insurance.

Thanks for any advice.

[Fishy]

I'm pretty sure the bank will, as long as the bike is owned outright.

Did you come across a finance company that treats it differently to a car?

[Toast]

I'm pretty sure the bank will, as long as the bike is owned outright.

Did you come across a finance company that treats it differently to a car?

Yeah bro, it's called ASB...they wouldn't have a bar of my argument.

Tried PRF/GE also...no love.

[Fishy]

Yeah bro, it's called ASB...they wouldn't have a bar of my argument.

Tried PRF/GE also...no love.

Shit that sucks man!. try Marac Finance, call a chick called Jane Skellern her DDI is 520 8087.

[Bloody Mad Woman (BMW)]

I went through a credit union - in Napier at the time, Baywide. I had never banked with them prior to getting a loan from them! Would suggest you try a local credit union.
Good luck

[SARGE]

if you own the bike outright and have nothing owing on it .. you can re-finance it through MTF..


give Alistair a ring at Colemans .. you will need to get the bike appraised for retail value..

i re-financed mine in order to toss some engine bits at it.. pretty straight forward process

[McJim]

Be careful you don't get shafted on the interest rates Toast.

While I'm on the subject....

I was flabbergasted when I came to NZ at the interest on loans with banks and the plethora of charges - you're not the first person I've heard who has been disappointed by ASB.

I am disgusted at the amount of charges levied by major banks in New Zealand too. It would seem that they are unaware of the fact that the customer is their livelihood. I was with National Bank but have moved to TSB. One of the last Kiwi owned banks - I think TSB are great - all the big banks charge you for things that should be free...like having an account...there should be no monthly fees. Card transactions....should have no fees. This 'no fees' system is how it works back in UK - the banks make their money by investing the money you deposit with them wisely or on legitimate interest charges for money you've borrowed.

Any bank tries charging you in the UK it's a simple case of "Ok then - I'll close my account - byeee" Kiwis don't yet do this as readily as Brits but you should - it will mean a better deal for all of us in the future.

And it will allow Toast some options on borrowing money.

[The_Dover]

Don't be silly Jim, those fancy adverts don't pay for themselves.

[Beemer]

When I tried to get a loan through the National Bank they wouldn't accept the bike - only a car. Not sure about other banks as I have a house now and they tend to accept that as collateral quite happily!

[Oscar]

Try MTF. http://www.mtf.co.nz/index.asp (http://www.mtf.co.nz/index.asp)