HayateEin Neutral Newbie January 25, 2018 Share January 25, 2018 MY current situation is abit complicated. So I just want to know if the options I'm considering is it feasible. Due to personal issue, I need to change my current car, which is quite new. Problem is I don't want to fork out too much for the new, so I'm considering a downgrade. Current drive, Honda Vezel 1.5X petrol. Less than 3 years old. Out standing loan around 30k. Market valuation is 64 to 69K. Wish to change to either New Kia K3 at 73,999 or 2nd hand MPV of similar value (E.g Wish, Sienta, Etc). Main issue is because I need to change ownership of current car, and can't change unless loan is settle. So only way is to change the car to clear current loan, and get another new loan. Is this move feasible in terms of monetary means. How much do I tend to lose from doing such move? ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Adrianli Hypersonic January 25, 2018 Share January 25, 2018 Why not just sell the car first then look around? Like that no need to settle any loan. Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged January 25, 2018 Share January 25, 2018 MY current situation is abit complicated. So I just want to know if the options I'm considering is it feasible. Due to personal issue, I need to change my current car, which is quite new. Problem is I don't want to fork out too much for the new, so I'm considering a downgrade. Current drive, Honda Vezel 1.5X petrol. Less than 3 years old. Out standing loan around 30k. Market valuation is 64 to 69K. Wish to change to either New Kia K3 at 73,999 or 2nd hand MPV of similar value (E.g Wish, Sienta, Etc). Main issue is because I need to change ownership of current car, and can't change unless loan is settle. So only way is to change the car to clear current loan, and get another new loan. Is this move feasible in terms of monetary means. How much do I tend to lose from doing such move? we can't give proper advise unless we know the reason to change ownership.... why die die must change? cannot just pay the fella cash as if you buying the vehicle from the person? or cough out whatever is agreed and the person get his own car, etc? neither we can tell you how much you lose because we don't know how much you buy the current car, how much your interest, how much your loan amount, etc Want advice need give sufficient info Link to post Share on other sites More sharing options...
Lava 5th Gear January 25, 2018 Share January 25, 2018 take a personal loan to settle the outstanding loan, re-finance the car after name transferred to settle your personal loan. you may loss some interest and time to settle paperwork, if you still want to keep you current car. don't understand why you mentioned downgrade from vezel to k3? aren't they are in the same category? 3 Link to post Share on other sites More sharing options...
RogerNg_185295 6th Gear January 25, 2018 Share January 25, 2018 MY current situation is abit complicated. So I just want to know if the options I'm considering is it feasible. Due to personal issue, I need to change my current car, which is quite new. Problem is I don't want to fork out too much for the new, so I'm considering a downgrade. Current drive, Honda Vezel 1.5X petrol. Less than 3 years old. Out standing loan around 30k. Market valuation is 64 to 69K. Wish to change to either New Kia K3 at 73,999 or 2nd hand MPV of similar value (E.g Wish, Sienta, Etc). Main issue is because I need to change ownership of current car, and can't change unless loan is settle. So only way is to change the car to clear current loan, and get another new loan. Is this move feasible in terms of monetary means. How much do I tend to lose from doing such move? You a uber or grab driver? 3 1 Link to post Share on other sites More sharing options...
kdash Supersonic January 25, 2018 Share January 25, 2018 Why not just sell the car first then look around? Like that no need to settle any loan. he may have commitments such that he still needs a car, eg. family etc. Link to post Share on other sites More sharing options...
13177 Supersonic January 25, 2018 Share January 25, 2018 take a personal loan to settle the outstanding loan, re-finance the car after name transferred to settle your personal loan. you may loss some interest and time to settle paperwork, if you still want to keep you current car. don't understand why you mentioned downgrade from vezel to k3? aren't they are in the same category? I guess many people would feel that if you change car from honda to kia, it is consider a downgrade? Cause korean cars are always view more inferior as compared to jap cars?! Lol. 1 Link to post Share on other sites More sharing options...
Lava 5th Gear January 25, 2018 Share January 25, 2018 I guess many people would feel that if you change car from honda to kia, it is consider a downgrade? Cause korean cars are always view more inferior as compared to jap cars?! Lol. from bmw to Honda will be a downgrade in term of branding. I don't think there is any different between jap and kor car in term of branding. Link to post Share on other sites More sharing options...
DACH Supersonic January 25, 2018 Share January 25, 2018 Your car got involved in a serious accident before? 1 Link to post Share on other sites More sharing options...
RogerNg_185295 6th Gear January 25, 2018 Share January 25, 2018 I guess many people would feel that if you change car from honda to kia, it is consider a downgrade? Cause korean cars are always view more inferior as compared to jap cars?! Lol. This is a hard truth Link to post Share on other sites More sharing options...
nazerath Turbocharged January 25, 2018 Share January 25, 2018 Maybe he want to take advance of the lower coe price? Link to post Share on other sites More sharing options...
HayateEin Neutral Newbie January 25, 2018 Author Share January 25, 2018 Main reason to change is due to new job role which requires me to own a car. (Not grab or uber). Is a sales role. They provide incentive. But problem is the car owner has to be me, which currently it is under my wife's name. Link to post Share on other sites More sharing options...
Soya Supersonic January 25, 2018 Share January 25, 2018 Pay up the $30k cash, go transfer ownership at LTA n retake another loan. Kau tim 4 Link to post Share on other sites More sharing options...
HayateEin Neutral Newbie January 25, 2018 Author Share January 25, 2018 Pay up the $30k cash, go transfer ownership at LTA n retake another loan. Kau tim If so easy, don't need to ask here already. Link to post Share on other sites More sharing options...
Kia7200 5th Gear January 25, 2018 Share January 25, 2018 from bmw to Honda will be a downgrade in term of branding. I don't think there is any different between jap and kor car in term of branding. Try ask the Toyota loyalist Link to post Share on other sites More sharing options...
HayateEin Neutral Newbie January 25, 2018 Author Share January 25, 2018 Why I said downgrade, is because relatively due to the the interior space. and of course Jap cars always command a better premium than Korean cars. That's a fact. 1 Link to post Share on other sites More sharing options...
Soya Supersonic January 25, 2018 Share January 25, 2018 (edited) If so easy, don't need to ask here already.If dun hv $30k spare cash to settle, then why buy a car? Edited January 25, 2018 by Soya 4 Link to post Share on other sites More sharing options...
HayateEin Neutral Newbie January 25, 2018 Author Share January 25, 2018 If dun hv $30k spare cash to settle, why own a car? Yawn~. Are there any laws saying that you must have 30k Cash in order to own a car? ↡ Advertisement Link to post Share on other sites More sharing options...
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