Team-BHP - The KTM Duke 390 Ownership Experience Thread

Quote:

Originally Posted by dkaile (Post 3161034)

Duke 390 on-road price Del: Rs.199,949, Mum: Rs. 203,643, Bangalore - Rs.211,841. Chennai Rs.203,902, Hyderabad: Rs.205,523, Pune: Rs.198,046

Pondicherry on-road price:

Basic Price : 160337
VAT: 16034
Ex-Showroom - 176371
RTO - 2067
Insurance - 4358
Mandatory Fittings - 1204 :Frustrati
On-Road price - 184000 :thumbs up

Quote:

Originally Posted by sriramv.iyer (Post 3162691)

If thats what the saving is, it doesn't make sense at all - Save your frustration by avoid Govt banks.

Unless you are planning to pre-close, Govt Banks have better deals.

Dealing with SBI is not the problem. I had a very nice experience with them when I signed up for a car loan. It was my first time too with SBI and this meant opening up a new account with them. That too I went about doing all the work myself and not through the car dealer. Sure; it required some running around but I was saving a lot in the case of the car loan. With this experience, I will always go back to them if there is a saving to be gained. In the case of this two wheeler loan, I don't stand to gain much. Bajaj Finance are offering pre closure post 3 months without any penalty. I should consider the option of swiping my credit card and switching it to an instalment over a year or take a personal loan from the payroll account, as suggested my another forum member.

Quote:

Originally Posted by sandeepmohan (Post 3160167)

Was expecting a long queue when I visited KTM Indiranagar but that was not the case. They opened at 7am and they started accepting bookings on the dot at 8am. Not too many folks. I am number fourteen. The dealer name is Khivraj Motors. 30K booking amount which is fully refundable. No word on delivery. The usual 90 days. Being among the first to book the motor cyle, the bike may turn up a lot sooner is what I was told. No display motorcycle too. I tried sitting on the 200. The hard seat and pimple grips were the first thing that got my attention. I find the seating acceptable. It is just a matter of getting used to it. A word on the introductory pricing which is 2.12lac on road. This can increase and folks who have booked the motorcycle will also have to cough up the increased amount. This is clearly mentioned in writing on the application form. The application form says no cancellation charge in one paragraph and in another, mentions a Rs. 4000 cancellation charge. I have confirmed that this is a typo mistake.

There is no cancellation charge if you wish to cancel the booking after 90 days, in the event Bajaj is unable to deliver the bike in 90 days as indicated in the purchase agreement. If you wish to cancel before 90 days, there will be a INR 4000 charge. Its not a TYPO error...

Quote:

Originally Posted by sandeepmohan (Post 3162661)

I spoke to the SBI toll free line and their interest rate comes to 17.95% per annum for a two wheeler loan. Nowhere as attractive as their four wheeler loans.

SBI is very expensive for a two wheeler loan. Talk to Bank of India or Vijaya Bank. They are offering in range of 10.75 t0 11.5 on a reducing
daily basis and no prepayment or part payment penalty.

Vijaya bank jp nagar manager assured me to get bike loan sanctioned in a couple of day's time when i had enquired for a loan for buying Ninja.

Also its not fixed as you mentioned. Its FLAT. There is a lot of difference between these two. Fixed means the interest rate will be same through out the tenure. Flat means interest component will not come down as and when you make emi payments.

I would say personal loans and loan on some credit card are cheaper than bajaj finance. For personal loans, try with HDFC who provide between 14 to 15% on a reducing basis (Not flat). Kotak offered me personal loan @ 12.99% on a reducing basis as i got an ACN salary account with them.

Quote:

Originally Posted by djay99 (Post 3162884)

Upon reading this, i immediately called up Indian Bank, as it has a branch right next to my house, just to see what they say. Since I have booked an Electra and am waiting for it.

The person who picked the call did not even mention to me the interest rate, he asked me where do i work and what bank is my salary account, to which i replied and he immediately said why don't you get it from that bank, i said their rates are high.

So he said we can do it, however would need 3 yrs IT Return, and an undertaking from your employer that they would directly transfer the money to the bank...instead of me paying through my Savings/Salary account which is weird.

Quote:

Originally Posted by sudhiryr (Post 3162925)

Personal Loans/car loans/home loans - will always be on reducing Balance
2W loan - will always be on Flat basis....

This is the thumb rule.

There is no thumb rule as you mentioned. It is up to the financier to decide. I got to know that HDFC provides bike loans for Harley/Honda on a monthly reducing basis.

Many banks are not very interested in providing two wheeler loans as its not very profitable for them as many of the loans accounts are opened for small amounts - say below 50K or 60K. This was told to me by regional head of a nationalized bank.

Quote:

Originally Posted by gearbox (Post 3162974)

I would suggest you to visit bank when its nationalized, since things work only when you meet them in person.

Before visiting any of the banks, checkout interest rates on their website - not all nationalized banks offer bike loans at cheaper rates.

Quote:

Originally Posted by sandeepmohan (Post 3162332)

Visited KTM Indiranagar to hand over finance documents. A display bike will be there on Monday. Attached the interest rates based on down payment.

I put these numbers through an online EMI calculator and get the rate of interest as over 20% (12 months) and 25% (36 months). :Shockked: Am I doing something wrong?

This is what Shreeram Bajaj in Mumbai emailed to me:

Dear Sir,

The most awaited bike has been launched with a price of just Rs.1.80 lacs Ex- Showroom Mumbai. Please find below the detail price of KTM Duke 390.

Basic Cost : Rs 1,79,613/-
Octroi Charges : Rs 7,565/-
RTO Charges : Rs 14,360/-
Insurance : Rs 3,412/-
On Road Price : Rs 2,04,950/- (Mumbai On road)
Colors : White

Minimum Booking amount is Rs.30,000/- only & waiting period is 90 days.

HDFC Finance Scheme
Down Payment : Rs. 53,550/-
EMI : Rs.8,134*24 months (ROI 11.00% p.a)
EMI : Rs 5,912*36 months (ROI 11.00% p.a)
EMI : Rs. 4,814*48months (ROI 11.10% p.a)

Chakan Plant Strike:

"Are you readying other plants for KTM production?
Not at all. KTM production will be at Chakan. If I knew today it is going to take two-three months, anything is possible. But I would very much like to believe this would not be the case and therefore I am hopeful to do that here (production). Also, our first priority in terms of production is to produce KTM for export and domestic and the second priority is to produce Pulsars for export.

How comfortable are the inventory levels?
There is a four-five week long inventory with Bajaj Auto and its dealers, depending upon which state we are talking about. For a customer buying a Pulsar, there will be no issue."

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