By: Daksh on 2015-10-23

I have purchased Honda CB Shine (disc brake) through 0% interest scheme at Rs. 71,084, is this price reasonable price?

1 Answers

The on-road price of Honda Shine (disc brake) in Delhi as on 15.11.2015 is Rs. 63,007 and the on-road price of Shine (disc-brake) in your location also should also be around Rs. 63,000, you are saying that you have purchased on 0% interest rate but this doesn’t seem to be the case here as you have paid around Rs. 8,000 extra (71,000 – 63,000) which is around 12.7% of the on-road price and the current loan rate on two wheeler loan is around 11% - 12% so this bike would have cost you little less amount if you had bought it without 0% interest scheme.

Such zero per cent schemes have hidden costs inbuilt. Perhaps the biggest loss for you would be forfeiting the cash discount on a product that you could have otherwise got if you had bought it on full payment. This apart, you will also be paying a transaction or processing fee under the zero per cent scheme and consequently more money through advance EMIs so unfortunately, you end up paying more than what you actually think you are paying.

Prashant   2015-11-30 13:44:50

Your Answer

By posting your answer, you agree to the privacy policy and terms of service

Type the characters you see in the picture