Buying scooters in installment

Hi guys, i plan to buy a new scooter and i plan to buy in installment as i don’t want to shell out a significant amount of money (50-70K is a big enough for me). How much do they charge for interest? and do dealers / shops offer installment for foreigners in the first place?

Appreciate the feedback.

Are you sure you want to get a new one?
There are good second hand ones around and that won’t require a large amount to purchase.
Are you looking at a specific model?

actually yes, i would like a new one, but then of course if there are really good second hand ones then i might consider. I was looking at an FB group selling second hand scooters but most of the models they sell are around 7-10 years already, i am looking for at least around a couple year old second hand scooter. I have no specific model in mind, although i’m leaning towards either Yamaha or Kymco.

I’ve never tried scooters on installment but I’ve asked about personal loans for vehicles at the bank and was told hell no.

One option is try to get a credit card, buy the scooter at Carrefour and then the bank can put it on installment payments for you for a lower interest rate

thanks, @dan2006, i’ve tried the credit card too but i got declined to many times already, it’s actually weird and not bragging about it but i’m a platinum card holder in my home country but that’s not worth a dime here in Taiwan apparently.

Which bank declined?

The dealer will offer monthly interest free payments, but not without a line of credit.

I’ve seen that sign above dealers lots… 72 payments no interest like that. Can foreigners get it too?

Like I said

Ctbc and cathay (i applied for Costco card). What bank do you have?

And where do you get line of credit from? Thanks

There are loads of threads on that, try a search

You can have a line of credit in Taiwan and then apply for a different one and get refused. The foreigner curse.

I couldn’t find a single thread on line of credit or credit line. Could you point me to one?

Quite frustrating actually.

A line of credit, just like anywhere else.
You have to have a credit card.
Or be able to qualify for a bank loan.

Ok got it, so yeah i don’t have a local credit card or bank loan qualification.

It’s a pretty safe bet, then, that the answer to post would be “No”, then.

You might be able to swing some kind of co-sign with a local person, I don’t know.

I heard people say personal loans (credit cards, etc.) are hard to get here. You have to prove you have provable income and have to be really low risk before they will grant it. This is for locals too.

They say any loans for big ticket item where the item itself is used as collateral for the loan is very easy to get even with bad credit. The only question is how much interest will be. Things like house, big machines, maybe car is much easier to get loans for because the bank can track them and if you default the bank would repossess it.

Unfortunately scooter is too hard to track so banks treat it like a personal loan.

Thanks everyone for the inputs! I’ll try my luck and will let you know what happens.