Expat motorcycle financing?

[Gary D]

4 minutes ago, Hobbit112 said:

 

4. In addition, for foreigner, the applicant must have been in the Philippines for at least one (1) month and will stay in the country for at least six (6) months from date of application

Good they have changed it from 1year. I assume the balikbayan can now qualify. 6 month tourist visa are still not a given so those on a tourist visa may still struggle.

[Tommy T.]

15 minutes ago, Hobbit112 said:

4. In addition, for foreigner, the applicant must have been in the Philippines for at least one (1) month and will stay in the country for at least six (6) months from date of application

That's good to know. But think about this. Reading this rule, it means the foreign applicant would have to receive his 6 month visa and go to LTO the same day it is granted or his visa would be valid here less than the required minimum 6 months.

Am I correct, in my thinking here? I am just thinking about some of the workers here and how they might likely interpret that rule exactly as written thus making it possibly challenging for a tourist visa holder.

Edited January 29, 2020 by Tommy T.

[Hobbit112]

You can renew your visa 2 weeks before it expires.  That gives you two weeks to begin your application.  Your new visa then runs from the expiration date of your old visa.

Edited January 29, 2020 by Hobbit112

[Tommy T.]

2 minutes ago, Hobbit112 said:

You can renew your visa 2 weeks before it expires.  That gives you two weeks to begin your application.  Your new visa then runs from the expiration date of your old visa.

Thanks for that clarification Hobbit. That's great news for the OP and any others with the tourist visas.

[Ninpo2dan]

17 minutes ago, Gary D said:

Good they have changed it from 1year. I assume the balikbayan can now qualify. 6 month tourist visa are still not a given so those on a tourist visa may still struggle.

"All temporary visitors, regardless of nationality and not otherwise disqualified, who wish to extend his/her tourist visa during the last thirty (30) days of the previously issued LSVVE, or upon the expiry of a regular visa extension.  The total duration of extension shall be not more than six (6) months from the time of expiration of authorized stay."

That is a quote directly from BI, in regards to the Long-Stay Visitor Visa Extension (LSVVE). They state the current maximum extension is for 6 months. And this is for tourist visa. If they are not giving those extensions out, it's possible they are not applying for the correct extension type. This is different than a regular 30- or 60-day extension. The LSVVE also includes ACR card.

I know there are problems with some gov employees not knowing how to fully perform their duties, or lacking knowledge on the rules/laws they are employed for. As long as these things are legal and valid, if someone gets denied then they might try going back at a different time and date. Might take a few attempts before you get an employee that actually knows what they're doing, and properly understands the current rules/regs in place.

[Gary D]

8 minutes ago, Tommy T. said:

Thanks for that clarification Hobbit. That's great news for the OP and any others with the tourist visas.

You still need to be near a BI that handles 6 month visas, at one time not all did. Also there local rules to consider, Davao I believe would only give 6 months to tourists married to filipinas and I had heard you can only have a limited number of 6 month visa. I'm sure they make a lot of it up as they go along.

[Tommy T.]

24 minutes ago, Gary D said:

Also there local rules to consider, Davao I believe would only give 6 months to tourists married to filipinas and I had heard you can only have a limited number of 6 month visa. I'm sure they make a lot of it up as they go along.

You may be right, but that was not my experience with tourist visas up to just less than one year ago. I was able (here in Davao) to just follow the regs  as have been described in other threads - 30 day, 60 day and full 6 month extensions. There was maximum stay of 3 years which has also already been posted. Then do a visa run like JGF described a while back.

I also had one ACR card but subsequent ones I was told were "out of stock" And no Filipina spouse required. I never went into BI after the very first visa and used an agent instead that charged me very little - maybe a few hundred pesos each time - well worth it to save hassle and sitting around waiting.

You are for sure right that some of it is improvised as they go. L and I both remark that Filipino rules and regs often seem to be moving targets...

Edited January 29, 2020 by Tommy T.

[Gator]

On 1/28/2020 at 8:38 PM, Ninpo2dan said:

The last person I spoke with said financing on the Rusi would be about 4k per month, which includes insurance. I think that's with 20k down, so the total finance term even with high interest shouldn't be too bad.I know it's a China bike, but friends that own them have said they aren't bad for the price.

You get what you pay for.

When I lived in Cebu I had a Racal 150 (clone of the Honda XR). I bought it as a repo from a Racal dealer, it only had a few hundred km's on it and I thought (at the time) I got a good deal as I paid around 40K for what I considered what was essentially a new bike. Within a few weeks I put more than what I paid for it into it. Had to rewire most of it due constant electrical issues, new carb, horn, rear sprocket, chain, tires, battery, rear master brake cylinder, brake arm, wheel bearings, clutch cable and numerous fittings. I found out that the dealer only sold them and didn't work on them nor did they really stock any parts. The parts used were a mismatch of Honda, Suzuki and who knows what > Honda carb, Suzuki battery and brake cylinder. Electrical switches that looked like they from Honda, but the OEM part wouldn't fit (starter switch on the handle bars). In addition, I had spend a few hours tightening every nut, bolt and screw I could get to (and used Loctite when I put them back) as well as all the spokes. Plus it started to leak oil after about 1,200km. I wound up selling it for 35K. 

If you you do decide for to get a Rusi or any Chinese clone and plan to keep it longer than a couple of years, then you might reconsider and buy a Japanese bike for a more trouble free experience. I would only recommend you buy a Chinese clone if you have the tools, knowledge and enjoy working on bikes or only want a bike for light use.  

This time around I got a new Honda 150XR-L. Was 89,900 pesos out the door and included a helmet. Not shown in the pic is a larger "2 helmet" sized Givi box I added to it. The bike has more than enough power haul my fat ass around town and it's light and nimble (great when weaving thru traffic). I did consider getting a "big bike" like a KZ Vulcan or one of the ACE 400's (motorstar engine), but  decided that most of my riding would be around the city and I didn't need so much power or a heavy bike, nor did I need to spend well over 200K pesos. I had found a nice late model and well maintained Vulcan for 260K, and was seriously tempted to pull the trigger, but common sense prevailed, lol.

When it comes to financing I did ask the Honda dealer about it (I was also considering a new Honda big bike). The sales rep said that a Phils bank account was needed (which I have) and a minimum 20% down payment. Interest was based on your credit score and the lowest rate with excellent credit was 11%. She then asked about my visa status and I was told that they would not even consider financing someone who was on a tourist visa (I didn't ask about a co-signer). 

 

 

[Dave Hounddriver]

42 minutes ago, Gator said:

I didn't ask about a co-signe

Same story here.  Got all the way up to a phone call saying "You're financing is approved".  Went in to sign the papers and they had a spot for the "Filipino co-signer".  I asked what that was about and they said: "foreigners need a Filipino to cosign for them but it is no problem.  We can find you someone to co-sign.  Just give them a little gift and they are happy."  Could have been true.  I heard others say they had the same situation.  Could have been BS to get me to give a gift.  What it did do is cause me to say "feck off" and walk out the door.

[Howard]

I bought a 180 Kawasaki Rouser a couple years back and rode the hell out of it before selling it, I paid like 65,000 cash for it. It was plenty of power for the city and for me and the wife to take long rides in the Rizal mountains etc. I've owned 3 Harleys back in the states and I really wouldn't want anything that big here, especially in Manila.