Fivegear Clutched October 9, 2006 Share October 9, 2006 Hi guys, I have been driving my present car for slightly more than 3 years. Bought at $80,388 with COE of about $32,000.00. Am thinking of changing car now to a 1.8L car which cost around $76,000.00. I am quite a dimwit when it comes to calculating whether is it a suitable time to change car. What are the things i should be considering? Sorry, i know i sound hopeless. Any advice or pointers? ↡ Advertisement Link to post Share on other sites More sharing options...
Vit4wd 1st Gear October 9, 2006 Share October 9, 2006 Most impt thing is to check how much is your outstanding loan. If it is more than your car paper value + body value, technically speaking, you have to top up money to 'sell' your car. ie. pay the bank outstanding loan amount. Link to post Share on other sites More sharing options...
Ac67 Neutral Newbie October 9, 2006 Share October 9, 2006 use the financial loan calculator found in xxxxxxx.com, that will calculate your car break-even period. Link to post Share on other sites More sharing options...
Fivegear Clutched October 9, 2006 Author Share October 9, 2006 Ask before. May have to top up about another $4k. But the current COE is quite tempting. Am thinking if i intend to continue driving for at least the next 3-5 years, why don't i make a more now since COE is relatively cheap. If i wait till mid next year it might jump a few thousand more. What do you think? Link to post Share on other sites More sharing options...
Familymanz 3rd Gear October 9, 2006 Share October 9, 2006 check whether will ya owe the bank anything after dumping in ur paper + body..... 1.8L....76K.... CIVIC izzit Link to post Share on other sites More sharing options...
Familymanz 3rd Gear October 9, 2006 Share October 9, 2006 ur $$$$ mah..... if ur present car is perfectly ok & suits all ur/family needs... then ok mah..... if not.... top up & buy a new car & slog for it for the next few years lor Link to post Share on other sites More sharing options...
Fivegear Clutched October 9, 2006 Author Share October 9, 2006 Yup, that's one of the shortlist one. Am thinking of Slphy nissan also or mazda 6. Anyway, if i really were to top up 4k to settle outstanding loan, do u thinking i am crazy or foolish? Link to post Share on other sites More sharing options...
Ccssgm 1st Gear October 9, 2006 Share October 9, 2006 Ya Loh........ Link to post Share on other sites More sharing options...
Familymanz 3rd Gear October 9, 2006 Share October 9, 2006 my opinion nia.... anything less than 5K is acceptable.... provided ur next loan for the new car, does not deviate much from ur present loan.... but from a 80K car to a nearly 80K car..... i think u need to downpayment @ least a few K too..... do ur sums rah Link to post Share on other sites More sharing options...
Ccssgm 1st Gear October 9, 2006 Share October 9, 2006 Now COE Cheap Y wan to waste yr Present car COE wich cost 2k more each year ???????????? Link to post Share on other sites More sharing options...
Fivegear Clutched October 9, 2006 Author Share October 9, 2006 Do u know what's the interest rate charge by kah motors right now? Am trying to work out a spread to see whether i am crazy enough to change car. Last time Gei Kian loan 10 years loh... . Anyway, for my remaining outstanding loan i will always be playing catch up between paper value + COE rebate < loan amount right? Link to post Share on other sites More sharing options...
Fivegear Clutched October 9, 2006 Author Share October 9, 2006 Errr.... what do u mean by present COE cost 2k huh? Link to post Share on other sites More sharing options...
Familymanz 3rd Gear October 9, 2006 Share October 9, 2006 Kah Motor... they have 2.... 3.5% with minimum loan + 5 yrs lock in...but comes with 3~4K cash rebate.... another is 2.85% w/o any lock in Link to post Share on other sites More sharing options...
Ccssgm 1st Gear October 9, 2006 Share October 9, 2006 [ Yr present car COE 3.2k Per year (32K) Now COE 1.2K Per year (12K) Is Zzzzzzzzzzzz save 2k Per Year ????????????? Link to post Share on other sites More sharing options...
Fivegear Clutched October 9, 2006 Author Share October 9, 2006 Then isn't it more worthwhile to change to a lower COE at 1.2K? Link to post Share on other sites More sharing options...
Ccssgm 1st Gear October 9, 2006 Share October 9, 2006 Give LTA drink KO-PI loh Link to post Share on other sites More sharing options...
Auron 2nd Gear October 9, 2006 Share October 9, 2006 Most impt thing is to check how much is your outstanding loan. If it is more than your car paper value + body value, technically speaking, you have to top up money to 'sell' your car. ie. pay the bank outstanding loan amount. i'm a newbie with car... always see ppl mentioned car paper value + body value? so how to get the above 2 figures? Link to post Share on other sites More sharing options...
Char 5th Gear October 9, 2006 Share October 9, 2006 WHAT CAR YOU DRIVING ? ↡ Advertisement Link to post Share on other sites More sharing options...
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