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Driver stuck with vehicle / loan?


Cokiee
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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.

we should never spend beyond our means. then again everyone has their reasons to buy a car.

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.

best indication: the smile on your face as u take your 1st drive of your new car :)
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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.

Buy within your means and spend prudently.

 

If your family is small and your income is middle level, why need to buy 2 cars?

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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.

 

heh thanks much! T'was only in jest. Yes have driven both a continental and a japanese now, and I'd say that the conti requires a fair bit of babying. The Ford was an AT and was quite known (i only found out after though) to have issues though, so maybe that skewed my perception a bit. 

enjoy the new car!

 

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

 

Most definitely not! I'm prepared to drive this to the end of it's COE life. Hopefully no major issues come up in the 4 ish years that I'm slated to own it.

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.

 

I completely agree. Like in my case currently - it's getting a bit long(er) drawn than I'd have preferred really, and right now I just want to get this over and done with. 

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heh thanks much! T'was only in jest. Yes have driven both a continental and a japanese now, and I'd say that the conti requires a fair bit of babying. The Ford was an AT and was quite known (i only found out after though) to have issues though, so maybe that skewed my perception a bit. 

 

 

My car count includes 5 Jap, 4 French, 3 Italian, 2 Korean, 1 Brit and 1 German...and still counting. Oh, I part own a race-mod M'sian also. Everyone of them was a journey of excitement and discovery, and new experiences. I am addicted to the feeling.

 

Do let me know if you need more car advice, a 2nd opinion to check out the Bravo, or even MT driving tuition!  [:)] 

Edited by Toeknee_33
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Fiat bravo with a 50k loan? I thought this car is pretty old already... most should be left 2-3 years now.

 

I think the last new Bravo was registered either in 2013, 2014 or maybe even 2015. So should still have a fair few on the road.

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Hi guys,

 

have got a theoretical scenario which i've recently heard of someone being in - it's not anyone i know, so purely academic purposes, and seeing if anyone has any ideas.

 

So car owner currently has a vehicle, with a 50k car loan left. Take for example he's paying 1K a month. He feels that he can't afford to pay this monthly installment now, and wants to reduce the amount he pays monthly. Repricing is out of the question, as the market is homogeneous.

 

He inquires as to the price he can sell the car at. Unfortunately, it fetches a bid of say ... 25K. He doesn't have sufficient cash to cover the additional 25K, even after selling the car. However he doesn't mind paying off the 25K in (lower) monthly instalments. 

 

What are the options open to him in this case? I know that taking a personal loan - assuming his income can support - is one option. 

Unfortunately, such scenarios do happen due to various reasons. Some under pressure to please girlfriend, some factored in future pay increment that did not materialize, some overspend and underestimated the cost of upkeeping a car, and many other reasons. Importantly is to deal with it soonest when realized.

 

As suggested by many here, either Grab or Uber it out if really must still drive, otherwise cut lost asap. Do the necessary to fetch the best deal and take a loan to pay back the outstanding. Once pay back 还是一条好汉

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Unfortunately, such scenarios do happen due to various reasons. Some under pressure to please girlfriend, some factored in future pay increment that did not materialize, some overspend and underestimated the cost of upkeeping a car, and many other reasons. Importantly is to deal with it soonest when realized.

 

As suggested by many here, either Grab or Uber it out if really must still drive, otherwise cut lost asap. Do the necessary to fetch the best deal and take a loan to pay back the outstanding. Once pay back è¿æ¯ä¸æ¡å¥½æ±

drive Grab/Uber cannot please gf le... haha
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