Buying Motorcycle for My Son

My son want to have a motorcycle so that he can use it during his study far away from home. After he had surveyed a lot of places, he found the cheapest motorcycle for Yamaha FZ 150. It is a second hand motorcycle. We don't want to waste money to buy a new one. Buying a vehicle is not an investment. Unless, it is meant for generating income, it is worth it to buy a new one.

Although my son work part time during his long holiday, his income is not sufficient to buy the motorcycle by cash. He wanted to buy it by the motorcycle shop's loan. After I shown the calculation, it is very expensive to buy the motorcycle by a loan. Hence, I loan the money to him to buy the motorcycle by cash!

I know my son cannot repay me by monthly since he has just beginning further study for his diploma for a semester. And, I don't want the loan money to lost its value upon my son's graduation. So, he have to calculate the money to be equivalent to gold value which is currently RM191 to 1 gram (Public Gold). The total cost to buy including the road tax and insurance was RM4,232. Hence, he owes me about 22.16 grams of gold.

I prefer the money value to be preserved in gold since this loan is going to be more than 5 years without any interest. Gold is good to hold the value. But, gold as a physical cannot generate wealth on its own.

The booking money was paid to the motorcycle shop, Fook Yong Motor Trading Sdn. Bhd. on 22 April 2017.  The second payment was made on 25 May 2017. The motorcycle was registered under my son's name on 26 May 2017. All the documents were completed by 28th May 2017. Upon completion, I paid the balance on  28 May 2017. Since, my son work until 10pm, I have to bring back the motorcycle on my own on 29th May 2017 as shown in the pictures.

It has been 15 years since I drove a 150cc motorcycle. It felt different. But, it is good enough for my son.