Sdf5725 1st Gear July 1, 2009 Share July 1, 2009 know someone pay by AMEX charge card in full. got no interest from the bank and a lot of membership points. ↡ Advertisement Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 1, 2009 Share July 1, 2009 You are right, I should have bought a cheaper car instead. But I bit the bullet to go for my dream car.... It's a risk that I am willing to take. actually, many people make the following mistake. they equate the risk they are willing to take as being the risk they are able to take. very often people are willing to take the risk but when shi*t happens, they realise they are not able to. Anyway, hope it turns out well for you and enjoy your dream car. cheers Link to post Share on other sites More sharing options...
Windchoco 1st Gear July 1, 2009 Share July 1, 2009 You are right, I should have bought a cheaper car instead. But I bit the bullet to go for my dream car.... It's a risk that I am willing to take. I find that if 1 bites the bullet too early on to get a better car, he might find it even harder to get his dream car when he change cars years later. Link to post Share on other sites More sharing options...
Gearoil 1st Gear July 1, 2009 Share July 1, 2009 Anyone buy car and pay FULL CASH? Why? Clever or Stupid? Pls share why u pay Full Cash and why not? What are the Pros and Cons? If u pay full cash? Wats your model? How much? Is it wise to do so? General rule of the thumb...my thumb anyway... Buying a depreciating asset like a car....if price is below $50k or so just pay full or else take the best advantage of the min loan with min period and 'kill the car' before 3 to 4 years. But then peasants are real show off and this shows in their 'skill' even in buying a pigeon hole... Example...price of pigeon hole around $350k to $500K ( mostly 4 to 5 roomers) ...throw so much into reno.....even if the pigeon hole is going to appreciate ...it will not even match what they took as loan and what they threw in for reno!.....hahahahahahahahahaha The only exception are the old timers who thought ( I said thought) they had made a BIG bundle when they brought their hole long , long time ago but what made is only in paper value! Link to post Share on other sites More sharing options...
Canceria 1st Gear July 1, 2009 Share July 1, 2009 You are right, I should have bought a cheaper car instead. But I bit the bullet to go for my dream car.... It's a risk that I am willing to take. Mind to share which dream car u went for? Link to post Share on other sites More sharing options...
Rm2s 5th Gear July 1, 2009 Share July 1, 2009 know someone pay by AMEX charge card in full. got no interest from the bank and a lot of membership points. Which car dealer allow you to do so? They have to pay charges to Amex you know. Link to post Share on other sites More sharing options...
SGCMklein Neutral Newbie July 1, 2009 Share July 1, 2009 Very tough question.. but this option of cash payment is certainly a pleasant headache ONLY for those with extra cash on hand... just some of my personal coments below. Logically you have shld pay full cash if you do not have other uses for the cash or you could not get a return (from parking it somewhere) that is higher than the int on the hire purchase. On whether you can earn higher returns on your cash is really subjective.. Do take note to save some money for contingencies.. If you are unsure and have extra cash on hand, my advise would be to go "middle of the road"... put maximum downpayment with minimum loan and shortest loan tenure.. usually you get to enjoy a lower interest rate. Most importantly everyone's wealth profile is different.. do what would best for the sake of your own pocket.. Link to post Share on other sites More sharing options...
Friendstar Supercharged July 1, 2009 Share July 1, 2009 I pay full for both my odyssey and mazda3sp i don't like to be in debt. some believe there's such thing called good debt vs bad debt. i believe in NO debt. Link to post Share on other sites More sharing options...
Friendstar Supercharged July 1, 2009 Share July 1, 2009 actually, many people make the following mistake. they equate the risk they are willing to take as being the risk they are able to take. very often people are willing to take the risk but when shi*t happens, they realise they are not able to. Anyway, hope it turns out well for you and enjoy your dream car. cheers what is that "dream" car? Link to post Share on other sites More sharing options...
Friendstar Supercharged July 1, 2009 Share July 1, 2009 His interest savings is the costs of my 2nd hand 2.4ltr Sonata. eh bro... sonata FC frugal? i read its 9km/litre Link to post Share on other sites More sharing options...
Jamesc Hypersonic July 1, 2009 Share July 1, 2009 If I had so much cash to pay for my car in full, I would be very happy but I do not think its wise. Cos you might get robbed on the way to the car dealer carrying your bag of cash! Link to post Share on other sites More sharing options...
Friendstar Supercharged July 1, 2009 Share July 1, 2009 Save 40k in interest!! My Gawd....you must be buying an expensive car. Assuming taking 7 years for a $200,000 loan.....(200,000x0.028%x7yrs)=$39,200 savings! If I HAD $200,000 spare cash....I would be flipping on property....example putting a $200,000 downpayment on a house/condo(costing ~ $1 million) with a TOP date of 2013 be better? I am sure the house will appreciate at least $100,000 by 2013 which is only 4 years away. Still got ($100,000 - $39200)= $60,800 spare cash at the 7th year! i guess it should be a ferrari. Link to post Share on other sites More sharing options...
Friendstar Supercharged July 1, 2009 Share July 1, 2009 If I had so much cash to pay for my car in full, I would be very happy but I do not think its wise. Cos you might get robbed on the way to the car dealer carrying your bag of cash! errr u don't literally carry bags of cash to the dealer leh.... Link to post Share on other sites More sharing options...
Accuphase 1st Gear July 1, 2009 Share July 1, 2009 Mind to share which dream car u went for? For me, any car in the 80K to 100K range is a dream car. I stretched my budget and got myself a Frostie 2.5XT. Link to post Share on other sites More sharing options...
Sdf5725 1st Gear July 1, 2009 Share July 1, 2009 Which car dealer allow you to do so? They have to pay charges to Amex you know. He paid his MG convertible. i believe most of the premium brand AD will accept this. It is a charge card not the credit card. Link to post Share on other sites More sharing options...
Rm2s 5th Gear July 1, 2009 Share July 1, 2009 He paid his MG convertible. i believe most of the premium brand AD will accept this. It is a charge card not the credit card. Not true. Most AD set a limit on the amount you can pay via cards (Premium Automobile limit to 10K, VW also limit to 10K, PML I think is also 10K). All cards will have charges they have to pay. For e.g. why would SLS small shop tell u pay cash price is lower compare to Nets or credit card. Link to post Share on other sites More sharing options...
Picanto 3rd Gear July 1, 2009 Share July 1, 2009 Not true. Most AD set a limit on the amount you can pay via cards (Premium Automobile limit to 10K, VW also limit to 10K, PML I think is also 10K). All cards will have charges they have to pay. For e.g. why would SLS small shop tell u pay cash price is lower compare to Nets or credit card. perhaps the shops do not want to pay commission charges to the card companies? Link to post Share on other sites More sharing options...
Hiphiphoray 6th Gear July 1, 2009 Share July 1, 2009 eh bro... sonata FC frugal? i read its 9km/litre Its worst than frugal. I only get 8.5km/ltr. That is when i stayed in Sembawang, 50% Highway. Now stay in Toa Payoh a little better liao. 80% Highway getting me 10km/ltr. But its still a good car with lots of power sitting 5 adults comfortably. Although the interior is damn plain and boring. But at that kind of pricetag, cannot complaint liao rah. ↡ Advertisement Link to post Share on other sites More sharing options...
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