Finance options.

[The Pastor]

Hi all.


There is a bike i've got my eye on,

However im 3k short (6k bike)

I rang up GE money today, only to be told that I cant have 3k only 2k as "you don't have enough debt" <-- being that I don't owe anything.

This sounds to me as if they only want to lend money to people who cant pay it back.

I could pay the loan back at $250 a week.

I can't use bike shops as its a private sale and I can't get insurance.

I'd like to try the bank but i don't want to have to take time off work.

Im not tooo worried about paying the extra from a company like GE money.

What should I do?

Cheers

RM

[cowpoos]

why can't you get insurance?

[McJim]

Ask your bank. Their rates will be more competetive than an independant finace company.

[shafty]

Juice up the story a little...........whats the bike??

[Alltrax]

Private Message sent.

[The Pastor]

Its a 2002 sv650, very mint.

I cant get insurance becuase im on my R.

I can't get my full when my suspension ends (25 augest) because my defencsive driving cert is too old (done in 2003)

I'll be getting my full and insurance asap (october 28).

I want to get a bike to go down to the cold kiwi on.

[BarBender]

Its a 2002 sv650, very mint.

I cant get insurance becuase im on my R.

I can't get my full when my suspension ends (25 augest) because my defencsive driving cert is too old (done in 2003)

I'll be getting my full and insurance asap (october 28).

I want to get a bike to go down to the cold kiwi on.


Lets have lunch on Monday and talk about it...
Is that your yellow bike parked next to mine in the carpark?

[The Pastor]

Lets have lunch on Monday and talk about it...
Is that your yellow bike parked next to mine in the carpark?
no thats john, he sits next to me.

Lunch is good, i love food.
Do you have some finance hookups?

[BarBender]

no thats john, he sits next to me.

Lunch is good, i love food.
Do you have some finance hookups?

No - just wanna know why you want to hookups a 650 with no insurance.

[Slingshot]

Hi all.

I'd like to try the bank but i don't want to have to take time off work.



You don't need to take time off work to organise a loan these days. You could look at at personal loan (which should have structured repayments) or a credit card (most banks now offer a low interest card). PM me if you want more details.


Private Message sent.

That's thrilling!!

[The Pastor]

banks only opertate from 9-4.30pm. Sux when you work 8-7pm.

[Slingshot]

banks only opertate from 9-4.30pm. Sux when you work 8-7pm.

The branches do, but the Contact Centres are typically 24x7 and you can apply online for credit cards.

[JimO]

banks only opertate from 9-4.30pm. Sux when you work 8-7pm.


call your bank any time day or night they will do the work on the phone and then the papers will turn up in a couple of days, sign them and send them back, cant be easier..from what i have heard Ge and the other finance companys are ripps or you could try motor trade finance- a phone call cant hurt

[The Pastor]

you can apply for loans over the phone?

[McJim]

Sounds like you're putting barriers in your way already - where's this famous kiwi 'Can Do' attitude?

Call the bank on your tea break or lunch and tell 'em what you want to do and they'll send you an application form.

[Laava]

When I was young I didn't qualify for a $1500 loan and it was38% to hire purchase. My Dad said why not get a Visa card. Best and cheapest "loan" I could get. Worth a try?

[The Pastor]

yeah, ive applied online for extra credit limit (didnt know you could do that..)

If i don't don't get the credit limit i need. i'll try the bank again for a loan, but they charge a fee of 200 bux :(

[McJim]

yeah, ive applied online for extra credit limit (didnt know you could do that..)

If i don't don't get the credit limit i need. i'll try the bank again for a loan, but they charge a fee of 200 bux :(

Change bank then dude. Kiwibank and TSB are pretty light on the charges. the rest of the banks in New Zealand haven't yet cottoned on to the fact that they are a service industry and the clients can go elsewhere.

Coupled with this the Kiwi public hasn't yet realised that they hold the power not the banks and that they can vote with their feet to start a bank charge war.

It's a nice illusion the banks here want to keep. Back home we're further along that road. there are no standing charges for having an account. There are no charges for transfers. No charges for taking out a loan (other than maybe 6% apr!) and certainly no charges for paying for your groceries at the supermarket!

[imdying]

I'm not against you riding uninsured outside of your license conditions, that's your call to make. I think it might be unwise to go into hock to put yourself into that situation though. Consider how much you'd have as a deposit saved up by the time you get your full... now then you could buy a totally legal kick arse bike :yes:

[The Pastor]

its only a few weeks till i get my full.

i wanna go down on it to the cold kiwi :)

as far as changing banks, i really like asb's internet banking and zero fee apporoch to uni students and intrest free over draft.

i have 50-60% saved up atm.

[imdying]

its only a few weeks till i get my full.Even more reason to wait :yes: Reward yourself by getting hammered at the kiwi :yes: You might be able to find a pillion seat if you've got a few bucks for gas?

[The Pastor]

the bike is a private sale, so i don't see the point of waiting?

getting my full and insurance would only help if i was buying from a dealer.

the personal loans that are secured (i.e., need insurance) are minium 5k

i don't want to get into debt that will take me longer than 3 months to pay off.

im a complete finance noob, but from my understanding a credit card loan will be the cheapest option, highest intrest rate, but no fee, and if im paying it off really quickly i'll have less than $600 in costs, compared to 1600 from a loan.

but we will wait, i have a feeling that if ge money won't give me 3k then visa won't either.

[imdying]

The point of waiting is that you'll be fully legal, and all insured up.

If you go into hock to get this, you might hit a patch of diesel on the way to the kiwi. No bike, no insurance, potentially facing a fine it the cops catch up with you, and still a loan to pay.

It just seems that you're pretty close to sorting your shit out lifewise, I'm not sure why'd you want to risk it all for some mere motorbike rally, one that you could find another way to if you put your head into it.

It's not a beat up, just another perspective you might not have considered. Patience is a virtue, possess it if you can... often found in women, never in a man (or so my wife loves to tell me). There will be other bikes, other rallys, and other woman...

[The Pastor]

yeah i understand what your saying,

but i don't want to miss out on this bike as im almost in love with it. i've already missed out on a bike last weekend becasue i couldnt get to it quick enough.

im not going to ride it while suspended, and i've been riding for a year on my 1000 with out a full. im not worried about that. well i worry about the 25 demerits i get a pop but yeah.

i understand what you mean tho, there will be another bike out there.

even if i crash i can still make the repayments easy enough.

[imdying]

but i don't want to miss out on this bike as im almost in love with it. i've already missed out on a bike last weekend becasue i couldnt get to it quick enough.Ahhh, love is blind... get someone who knows (maybe races?) SVs to have a look at it for you, very easy to be led by emotions and not realities ;)

[The Pastor]

its a 2002 modle, old style full fairings, well looked after:love: have you ridden the 650? I hear its quite awesome :)

[iwilde]

I agree with Imdying, wait and save your money. Don't get suckered into the money trap that most young people do these days. Once you start it's to easy to think "wtf, i need a new helmut and leathers". Saver your money, get your licience, then you'll likely find a better bike than the one you're looking at now.

[Riff Raff]

Don't go to GE Finance - it's a rip off. I had a personal loan from them that I've been paying off for two and a half years and had another two and a half years to go. I got myself in the poo a bit financially with other financial commitments. Went to my bank for a loan to consolodate my debts. I'm paying $30 a week more than I was to GE Money, over 3 years, but I'll be able to pay it off quicker because I've got more money at my disposal each week. The interest rate is a lot lower with the bank as well. I should have read the contract carefully from GE when I took out the loan but it's hard to do when there's 20 pages to sign and all in small print.

Steer clear of these finance companies.

[Sanx]

GE Money are known in the Sanx household as GE Fucking Finance. They're a bunch of disorganised, dishonest wankers who will not stop at anything to get their way. They loaded up a default against my name with Baycorp about three years ago because I'd failed to make payments on a loan I'd never taken out. They refused, numerous times to provide me with any information - like a copy of the contract. Finally their debt collectors took me to court.

It was actually quite amusing in the end. They produced a contract that:
Did not have my name on it. It was similar, but not the same.
Had a date of birth which would have made me 17 years older than I am.
Was signed two years before I emmigrated to New Zealand.
The judge reprimanded them for wasting the court's time, awarded them costs, and ordered them to pay me compensation for a damaged credit record.[/LIST]

[Gremlin]

I can't get my full when my suspension ends (25 augest) because my defencsive driving cert is too old (done in 2003)
slightly off topic, but I asked about this. Apparently there is no expiry date on a certificate. They will tell you there is, but passrite checked, and I don't believe any expiry is listed (in law either). However, you can only use it once (it is loaded against a class of license - ie, class 1 OR class 6)

[The Pastor]

well the problem they said was that becuase i didnt hold my 6R when I did the cource I can't use it. They are an utter bunch of cockwank homosexual dick munchers. There is absolutly NO motorbike specific stuff in it.

[Gremlin]

well the problem they said was that becuase i didnt hold my 6R when I did the test I can't use it.
ah, ok. Yes, if you have a 18 month wait on R (ie, under 25) then you have to wait till you have had your R for 6 months. Over 25, you can obviously sit the course straight away (normal period on R for >25 is 6 months, iirc)

edit: The course isn't about practical skills really, either, thats the BRONZ course. The defensive driving/riding course is just that. Learning how to identify hazards, and ride defensively, rather than most aucklanders, offensively. Its about the attitude you take on the road.

[The Pastor]

ah, ok. Yes, if you have a 18 month wait on R (ie, under 25) then you have to wait till you have had your R for 6 months. Over 25, you can obviously sit the course straight away (normal period on R for >25 is 6 months, iirc)

edit: The course isn't about practical skills really, either, thats the BRONZ course. The defensive driving/riding course is just that. Learning how to identify hazards, and ride defensively, rather than most aucklanders, offensively. Its about the attitude you take on the road.
I [expleteive deleted] know what the [expleteive deleted] cource is. I've already done the [expleteive deleted] cource.

Im sick of paying the [expleteive deleted] [expleteive deleted] cops and [expleteive deleted] courts [expleteive deleted] 400 [expleteive deleted] dollars and 25 [expleteive deleted] demerits becuase they won't let me get my little [expleteive deleted] bit of [expleteive deleted] paper.

I've been driving/ riding for [expleteive deleted] 5 [expleteive deleted] years!

L[expleteive deleted]T[expleteive deleted]S[expleteive deleted]A and the A [expleteive deleted]A don't give a [expleteive deleted] about [expleteive deleted] road safety, they just want to [expleteive deleted] people around so they can make an extra [expleteive deleted] $150 bux

[expleteive deleted]!!!







im not sure if you can tell but im really angry at the ltsa and AA.

[The Pastor]

bike sold :( :(

[Nasty]

bummer dude :(

[ynot slow]

That sucks not getting ya bike,who cares if you had no licence,sounds like ya can handle it,personally I'd have waited till I had full licence,another way to look at it is if it was meant to be,you would have had the bike,maybe wasn't to be.Sounds stupid but who knows.Had same thing when buying cars,seemed to work out in the end though.

[The Pastor]

yeah, but i wanna ride :( 3 months it too long!