Driver stuck with vehicle / loan?

[Toeknee_33]

I would be keen to know what car this is.

[Kyrios]

4) lease out the car in open market, eg sgcarmart.

 

There might be legal concern but when so desperate already....

 

You mean this scheme?

 

https://www.lta.gov.sg/content/ltaweb/en/roads-and-motoring/renting-out-or-hiring-a-private-car.html

[Heartlander]

You mean this scheme?

 

https://www.lta.gov.sg/content/ltaweb/en/roads-and-motoring/renting-out-or-hiring-a-private-car.html

That is a legal way to go about. What I meant was  type ...

[DACH]

This is part of his plan. Dude's not in dire circumstances, just taking proactive actions to reduce his monthly debt expenses. Part of the reason why he's selling the car is that the current job affords him a car, and there's no need for two at home.

So it's not an urgent sale?

[Cokiee]

So it's not an urgent sale?

I'd say it's urgent insofar as he wants to sell it soon so he doesn't have to pay installments on a liability he doesn't use. So, sooner rather than later.

[flashbang]

I'd say it's urgent insofar as he wants to sell it soon so he doesn't have to pay installments on a liability he doesn't use. So, sooner rather than later.

Sell immediately and pay up lump sum shortfall, or continue paying installments with interest. Should be easy to calculate.

[Terrylmt]

Precisely. It's clear-cut what he needs to do - one, bite the bullet, sell it off and pay it off once and for all to be rid of the liability; or two, continue to service the loan and live with it.

 

Seeing as how he has already committed to the sale - he has once again committed himself to something that he didn't think through clearly till it is too late. He has to proceed with the sale now, and he has to cough up the amount owing.

[Toeknee_33]

And we still don't know what car model we are discussing.

[Terrylmt]

And we still don't know what car model we are discussing.

 

Please refer to my avatar/profile pic.

 

[Cokiee]

And we still don't know what car model we are discussing.

 

Its a Fiat Bravo.

[Toeknee_33]

Its a Fiat Bravo.

Oh oki, happy purchase!

[Jq1988]

This is part of his plan. Dude's not in dire circumstances, just taking proactive actions to reduce his monthly debt expenses. Part of the reason why he's selling the car is that the current job affords him a car, and there's no need for two at home.

 

Oic

[Cokiee]

Oh oki, happy purchase!

 

 

heheh do i sense a slight bit of disdain there? (: But anyhow, live and die by my decisions heh.

[Toeknee_33]

heheh do i sense a slight bit of disdain there? (: But anyhow, live and die by my decisions heh.

No, definitely not. Car buying is always a joyous affair; so much excitement and anticipation and new experiences. I was giving you my well wishes.

 

The Bravo is a good car at a great price as long as you don't expect Jap/Kor levels of reliability and ease of maintenance.

[kdash]

Its a Fiat Bravo.

enjoy the new car!

 

since its MT, i dont suppose u intend to sell in future?

[Mkl22]

heheh do i sense a slight bit of disdain there? (: But anyhow, live and die by my decisions heh.

It’s not disdain. It’s probably less envious about the good deal. Edited October 15, 2017 by Mkl22

[Andyngps]

Maybe...let friend or relative use the car and bare the monthly installment but insurance must be covered.

Or rent out the car. Heard of a fren doing it. Seriously one should think twice when buying cars in Singapore. If cannot afford then don't buy to begin with. Gone are the low coe days. Edited October 15, 2017 by Andyngps

[Terrylmt]

No, definitely not. Car buying is always a joyous affair; so much excitement and anticipation and new experiences. I was giving you my well wishes.

 

 

Agree. Car buying, like house hunting, is an extremely emotional affair. You will feel emotionally charged and drained at the same time when the transaction is finally completed. Trust me, I've been there quite a few times.

 

But at the end of the day, once you are strapped up behind the wheel, caressing the supple steering and gear stick/lever, and cruising down the open road with your favourite tunes (be it music or engine noise - entirely up to you) - all that would feel like a fart in the hurricane.