Buying used car. Difference in car installment?

[Yawnz]

http://www.sgcarmart.com/used_cars/info.ph...199&DL=2199

 

Was looking at the civic above, and the description says $753 monthly installment. However, the DBS loan below based on 1.88% is $981 monthly installment?

 

Can someone enlighten me on this on why there is such a large difference? Are there any significant additional purchase cost involved before i get this car?

[Latio2005A]

http://www.sgcarmart.com/used_cars/info.ph...199&DL=2199

 

Was looking at the civic above, and the description says $753 monthly installment. However, the DBS loan below based on 1.88% is $981 monthly installment?

 

Can someone enlighten me on this on why there is such a large difference? Are there any significant additional purchase cost involved before i get this car?

 

You shd just pick up a phone and call the dealer and ask him.

 

Who else would have known better?

[Soufigo]

$753 should be balloon scheme already.

[Didae]

Good day to you bro, maybe the dealer has offered a lower monthly installment because of the "balloon scheme".

[Dafansu]

click financial, should be 900 plus per month if no deposit.

[Bobztoise]

http://www.sgcarmart.com/used_cars/info.ph...199&DL=2199

 

Was looking at the civic above, and the description says $753 monthly installment. However, the DBS loan below based on 1.88% is $981 monthly installment?

 

Can someone enlighten me on this on why there is such a large difference? Are there any significant additional purchase cost involved before i get this car?

 

My understanding is that DBS loan does not apply rule of 78

However loan outstanding seem to reduce at a slower pace for initial years

 

Without looking into the fine print, I reckon DBS loan is better if you intend to service the loan for more than 3 years

If you have a habit of changing cars every 2 years and redeem loan early, perhaps better to take other banks loan

 

[Premroy]

If i rmb correctly DBS has a penalty of 6% compared to only 1% for other banks for Early redemption.

 

 

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Prem Roy

Contact : 94872143

Email : [email protected]

Facebook : Prem Roy Motoring

 

~Safe and hassle free quick transactions for the sale of your car with ease..!

[Stiener]

No indication of '$0 downpayment' required. Which means you might be expected to make a down payment lor. Banks don't always consider giving full loan.

[N3m0]

Hi. Ive just bought a used car. Can i know how and where to pay for the monthly installment? Will there be any letter to state that we need to pay?

[13177]

Hi. Ive just bought a used car. Can i know how and where to pay for the monthly installment? Will there be any letter to state that we need to pay?

Your used car dealer SE never advise you on this? 

[N3m0]

Nvr

Edited February 1, 2018 by N3m0

[Leo72]

Hi. Ive just bought a used car. Can i know how and where to pay for the monthly installment? Will there be any letter to state that we need to pay?

Which bank or credit company you're taking the loan from? Some banks and Credit companies do allow payment of your monthly instalment by AXS and Giro. Some banks and credit companies only allow Giro, payment by cheques or cash deposit machine.

[Unfazed]

Hi. Ive just bought a used car. Can i know how and where to pay for the monthly installment? Will there be any letter to state that we need to pay?

The car has been bought..and if u dun know how & where to pay, then no need to pay lor, better still right?

 

Even better, do us a favor & let us know which finance co is so gd that doesnt tell its clients on modes of payments.

 

Got letter no letter got diff? Got letter, pay? No letter, no pay?

 

This is a qn asking if one should take pants off to fart?

 

Lol...

[N3m0]

Mine is maybank. How do i know if can make payment by axs or giro?

[Soya]

Wah sei.......free car!

[inlinesix]

Call the bank

 

Theeeeeeeee

[Leo72]

Mine is maybank. How do i know if can make payment by axs or giro?

Maybank allow cheque, giro or cash deposit payment, no payment by AXS. Did your dealer get you to sign giro form for Giro payment? Maybe you can call up the bank or check with the bank for the giro payment form, Can call the auto finance hotline at 6550 7888.

[13177]

Bank will send you all the document on your car loan and tell you the monthly installment amount the option for payment, if you opt for GIRO, you need to fill up the GIRO form and send the form back to them.