Kelvinleong Neutral Newbie March 6, 2004 Share March 6, 2004 For CONSUMER AWARENESS of financial scheme in NEW/OLD cars... Can those of U that recently bought a car this year (2004), please list down how much of the initial payment & all those nitty-gritty things U gotta pay? I think this will help many forum users in purchasing a car... like me ↡ Advertisement Link to post Share on other sites More sharing options...
Longdi 1st Gear March 6, 2004 Share March 6, 2004 I would like to hear more abt this too. Link to post Share on other sites More sharing options...
Zolidlim Neutral Newbie March 7, 2004 Share March 7, 2004 Think its kinda confi la... Not wise to put it up here. A rough one: 1. $5k booking fee. 2. 10% downpayment. (Off set with booking fee) 3. Insurance. 4. 1st Instalment. Link to post Share on other sites More sharing options...
Kelvinleong Neutral Newbie March 7, 2004 Author Share March 7, 2004 surely got many diff kinds... Link to post Share on other sites More sharing options...
Vit4wd 1st Gear March 7, 2004 Share March 7, 2004 Best to pay in cash if you can afford it, or place as high a downpayment as possible and take minimal loan. How much interest are you getting by leaving your money in the bank (0.2% p.a.?), and how much interest do you have to pay for your car loan (3%?) Link to post Share on other sites More sharing options...
Zolidlim Neutral Newbie March 7, 2004 Share March 7, 2004 Yup, that apply to KM for my ride. But if you want specific amount, I think its Confidential. Link to post Share on other sites More sharing options...
Deathsythe Neutral Newbie March 7, 2004 Share March 7, 2004 Juz came back from Ubi Automega Mart. With 3K u can drive away a 2nd hand car. It includes ur insurance, 1st downpayment, transfer fee, agreement fee, etc. Link to post Share on other sites More sharing options...
Orge Clutched March 8, 2004 Share March 8, 2004 it depends on your income and dealers u r goin to... for a few that i had check out, most are as zolidlim said... 1. $5k booking fee (for bidding of COE) 2. 10% downpayment (off set with booking fee) 3. Insurance (normally around $1.8k to $2.2k if u do not own a car before and are mid 20's) 4. 1st Installment if u r getting at least 2.5k per month, think 10% downpayment shouldn't be a problem... but if u earn slightly more, maybe $3k per month... can ask for 5% down... my colleague got 5% when he got his lancer from C&C... but it all depends... that time KM offer mi $1.3K down for a city onli... as for interest rate, think it is flat 2.2% for 1 to 7 yrs loan... and 2.45% for 8 to 10 yrs loan.... however i know KM & TCM is confirm 2.3% for 8 to 10 yrs loan and for KMC & C&C is confirm 2.45% for 8 to 10 yrs... think if u can find your own insurance source, it will normally be cheaper... but places like C&C will state that if u do not get their loan and insurance, u will have to pay and extra of $2k & $1k more respectively... oh, and point to note... your payment will definitely include half yr road tax and half year radio licence, licence plate and registration fees... Link to post Share on other sites More sharing options...
Buzz Neutral Newbie March 8, 2004 Share March 8, 2004 Why they charge you extra for not taking the loan through them or full settlement is because they wont get a cut from the finance compnay. Typically they get 3% of your loan. So if you take a70K loan he get 2.1k Link to post Share on other sites More sharing options...
Orge Clutched March 9, 2004 Share March 9, 2004 that is true... and for some, if u do not take their insurance, they will also charge u more... cos they also get commission from the insurance companies... however not all practice that... heard that now car company always like to ask people to take up full loan... like that interest rate is higher and loan is higher (good for the SE, more $$$). and monthly it looks lesser installment for u (good for you, on the surface onli)... but please consider properly... if u take up 10 yr loan... u think u can sell and change to a new car 5 yrs down the road... considering now the parf value so low... if u sell your car within 5 yrs... u still gotta fork out money to pay back the bank... Link to post Share on other sites More sharing options...
Arips Neutral Newbie March 9, 2004 Share March 9, 2004 (edited) well this is sillypore, cant beat it, join it, when in rome do what the romans do. haha... buy car pay sell car oso pay knock people die fine, blowjob 1 yr jail cyclist can only cycle on the road, become less padestrian accidents more cyclists deaths Edited March 9, 2004 by Arips Link to post Share on other sites More sharing options...
Morris Neutral Newbie March 11, 2004 Share March 11, 2004 Buy the car, let your pocket be your guide. Wise to put more as downpayment...lesser no. of years for loan. will save more money in the long run. Link to post Share on other sites More sharing options...
Orge Clutched March 11, 2004 Share March 11, 2004 well... let mi correct morris abit... it is not "save more money in the long run"... think should be "lose lesser money in the long run"... hahhaa.. think the most impt is to buy the car within your needs and budgets... in singapore... there is no long term ownership of a car... so no point spend so much... but even though singapore's public transport is so convenience, however nothing beats the pleasure of not squeezing in the bus and mrt with other commuters in the morning and endless waiting time for your bus to come... plus there are alot more things u can do if u have a car... especially when u have a famili... good luck in your car search... hope your new car will improve your appreciation of life and not worsen your life style due to the financial tie up... Link to post Share on other sites More sharing options...
Zolidlim Neutral Newbie March 11, 2004 Share March 11, 2004 Agreed to that. Its too complicated and confusing, taking factors from yr job, salary, age, total amount of loan, etc etc... All these plays a part when coming to purchase of a car, regardless if its a new or used car... Link to post Share on other sites More sharing options...
Tea3 Neutral Newbie March 12, 2004 Share March 12, 2004 Why they charge you extra for not taking the loan through them or full settlement is because they wont get a cut from the finance compnay. Typically they get 3% of your loan. So if you take a70K loan he get 2.1k Maybe I can get some help from you all since this topic of loan cropped up here. Was informed that I can collect my new car. Was asked by SE the amount of loan I would like to take & I chose 80%. SE tried to convince me to take 90% but I refused. Was told that the amount of loan I take will determine the amount of commision. When I refused, was ask if I could then sign some parf transfer paper. SE refused to tell me what it was all about over the phone. Said would rather talk face to face. So the less amount of loan I take, the less commission SE receives. What does that have to do with parf tranfer? I am not scrapping the car, I am selling it to 2nd hand dealer appointed by SE. Link to post Share on other sites More sharing options...
Acemundo Supercharged March 12, 2004 Share March 12, 2004 what i learnt is, before signing papers, anything also can. after signing, u have to give something good before u can. Link to post Share on other sites More sharing options...
Tea3 Neutral Newbie March 12, 2004 Share March 12, 2004 That is true. Before signing, promise heaven & earth. After signing, give s*** only. Link to post Share on other sites More sharing options...
Morris Neutral Newbie March 12, 2004 Share March 12, 2004 damn right...it goes for anything... ↡ Advertisement Link to post Share on other sites More sharing options...
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