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When buying new/used,do you take up car loan or pay in full?


Girlgirlzz
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this is My Car Forum

 

of course pay full cash lah.

 

if take loan then it is NOT YOUR CAR.

 

hahaha

 

hmmm shld start a new forum site ............ Not-So-My-Car Forum 

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dont be silly.

 

singapore so many rich people.

 

although most of us are talking cock. there is ALOT of people who can easily full cash a car or even several cars.

 

 

Ya since i cannot afford a car i must make sure all the rest also cannot. superb comment, loving it. Supporting 80% - 100% payment in full!

 

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dont be silly.

 

singapore so many rich people.

 

although most of us are talking cock. there is ALOT of people who can easily full cash a car or even several cars.

so sorry lil puppy I forgot this is mcf. Hahaha.
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so sorry lil puppy I forgot this is mcf. Hahaha.

 

the really rich folks who can afford full cash on several car probably no time to come to talk cock in mcf

 

all too busy earning money lor

 

only us small fries come here speculate on coe up down few k

 

the rich people i know don't give a shit about coe up down few k. they want to buy they will just buy. not even in their consideration.

 

haha

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the really rich folks who can afford full cash on several car probably no time to come to talk cock in mcf

 

all too busy earning money lor

 

only us small fries come here speculate on coe up down few k

 

the rich people i know don't give a shit about coe up down few k. they want to buy they will just buy. not even in their consideration.

 

haha

Don't say until we are that useless. We contribute to the traffic in mcf and mcf in turn get to earn moolah from the ads lei hahaha
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It will be really something if people were to see a horse picking up groceries .... hahha :grin:

 

how old are the young padawans ? your "Wish" is not to contribute to the jam i hope hahaha :XD:

Just the one. Going on 12.

 

So it's not that I have a large family. I just have a "large" family. If you get what I mean. :D

 

Hint: when driving up north with parents, we really like the space of an MPV.

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Just the one. Going on 12.

 

So it's not that I have a large family. I just have a "large" family. If you get what I mean. :D

 

Hint: when driving up north with parents, we really like the space of an MPV.

 

oh young padawan got long way to go haha.

 

I hope your "large" family will not be out of place hahha

 

depend on how many adults you bringing up north ... i still find ody is a better mpv in that cat.  :D

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If you can afford to pay off the car in full, then it becomes a simple calculation. Opt only for the minimal quantum and period of the loan to get the discount. If the interest on the loan comes to less than the discount (especially by a lot), then it would be stupid not to take the loan wouldn't it?

 

Of course, try negotiation first. But if the salesman remains absolutely firm, and if you stand to save money by taking the loan, then that makes more sense. The key is whether you can afford the car without the loan at all. If the answer is yes, then just take the option that costs you less.

 

I was faced with the same situation for my Wish from Borneo Motors. The salesman absolutely refused to throw in the loan discount of $2500 unless I took a loan with them (no matter how much I insisted). So I took the absolute minimum - $30k loan over a year, having calculated that the interest will come to much, much less than the amount I would save.

 

it used to be taking minimum loan benefits will save more than paying full cash.

 

But i didn't really find it the case when i bought in 2015. But maybe cos sales were slower than with COE in the 70k+ region.

Full cash would have been a better deal out of the 3 of the 4 dealerships i went to. 

Edited by Lala81
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the really rich folks who can afford full cash on several car probably no time to come to talk cock in mcf

 

all too busy earning money lor

 

only us small fries come here speculate on coe up down few k

 

the rich people i know don't give a shit about coe up down few k. they want to buy they will just buy. not even in their consideration.

 

haha

Hahaha

Yeah

Reminded me of my wife's tai tai Fren

Bought odyssey. Told my wife damn cheap. Only $100k

My wife so excited, told me go and buy one too

It was actually $170k or something like that

Rich ppl just round down 5 figure sum lol

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My advice to new young couples - buy your house first, car is secondary.  Have car or no car is not going to die.  No house, then stay where?  Istana?

 

Although what you say definitely makes financial sense, it is also makes financial sense to most if we say: don't buy car in Singapore, invest the money. Just take Uber/taxi.

 

 

I think its not about whether you already own a house or need to take loan:

 

e.g.

 

25 yr old : pay 10k cash take 90% loan for $100k car.  Don't own house yet.

 

 

45 yr old : House already 75% paid up. Got 220k in bank. Pay 200k in full cash for 200k car.

 

Can argue that the 25yr old is more able to 'afford' it.

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it used to be taking minimum loan benefits will save more than paying full cash.

 

But i didn't really find it the case when i bought in 2015. But maybe cos sales were slower than with COE in the 70k+ region.

Full cash would have been a better deal out of the 3 of the 4 dealerships i went to. 

 

As you say, it's not always the case, but I actually saved money with the minimum loan in my case.

 

I believe the salesman makes a little extra commission if you take a loan, and it doesn't matter if it's the minimum. So he was happy, I was happy. I would've been happier if he'd thrown in the discount without asking me to take any loan at all, but he just didn't budge.

 

In the end, things worked out pretty well for that purchase, with the COE rebate and all.

Edited by Turboflat4
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I do not pay in full if the new/used car is under warranty.  Just pay 80%.  In case the car got problem and agent/seller default on warranty, I have the bank to back me up.

 

But if no warranty, then f##k it la, of cos pay in full.

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i pay FULL CASH too...

 

 

 

 

 

 

 

 

 

for my son's ferrari remote control car.

Lol.......

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the really rich folks who can afford full cash on several car probably no time to come to talk cock in mcf

 

all too busy earning money lor

 

only us small fries come here speculate on coe up down few k

 

the rich people i know don't give a shit about coe up down few k. they want to buy they will just buy. not even in their consideration.

 

haha

I fully agreed with you. Car is merely for transportation reason in spore.

 

If we need to top up cash on those bus card before we can utilise them on board the bus, I don't see why we must take loan (future earning) to own a car. All serve the same purpose. I won't want a car knowing the car is a liability to my future earning. If can't afford the price of conti than go for jap/ kor or even resales. At the end of day still just a car to ferry from point a to b. Don't ever think about owning a car can give you the status recognition. You are still sitting on a pcs of liability.

Edited by Kopites
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I fully agreed with you. Car is merely for transportation reason in spore.

 

If we need to top up cash on those bus card before we can utilise them on board the bus, I don't see why we must take loan (future earning) to own a car. All serve the same purpose. I won't want a car knowing the car is a liability to my future earning. If can't afford the price of conti than go for jap/ kor or even resales. At the end of day still just a car to ferry from point a to b. Don't ever think about owning a car can give you the status recognition. You are still sitting on a pcs of liability.

Brand is a very important criteria when choosing car in Singapore.. End of the day, Singaporeans still yearn for such recognition
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I fully agreed with you. Car is merely for transportation reason in spore.

 

If we need to top up cash on those bus card before we can utilise them on board the bus, I don't see why we must take loan (future earning) to own a car. All serve the same purpose. I won't want a car knowing the car is a liability to my future earning. If can't afford the price of conti than go for jap/ kor or even resales. At the end of day still just a car to ferry from point a to b. Don't ever think about owning a car can give you the status recognition. You are still sitting on a pcs of liability.

 

more often than not, we actually judge people based on what car they are driving on the first impression...

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