Loan

[Route88]

Married,50% ncb, AXA,comprehensive,older than you !

Why? u wanna quote me cheaper

[Weixiang_06]

what's and how old is ur ride?

 

mmz.. AIG quoting me $895 for comprehensive cover, authorised workshop is BM Toyota.... the ride is coming to 1 yr old... excess of $500.. 14 days use of car, guarranteed, no excess for windscreen replacement @ Toyota... is this a good deal? or am i expecting a better deal than this[laugh]

 

mine is a little 1.5l thailand car...

 

NCD = 30%

Edited December 21, 2006 by Weixiang_06

[Vit4wd]

Hi people, is it true when wanna buy car, your pay slip (income tax) must be 4 times or more than your monthly installment then the loan can be approved?

 

 

For 7 yr loan, your gross salary must be 3 times of your loan (mthly installment)

 

For 10 yr loan, your gross salary must be 4 times of your loan (mthly installment)

 

 

So that means someone whose monthly installment is $500 on a 10 yr loan needs to earn at least $2,000 gross.

 

This person's take home pay would be $1,600. Minus $500 installlment = $1,100 left to spend. There's still insurance, road tax, petrol, ERP toll fees, HDB & office parking fees & maintenance to take care of.

 

How much is left for this person's personal expenses?

 

Hhmmm... isn't it a bit risky?

Edited December 21, 2006 by Vit4wd

[Statix]

I think that's pretty darn cheap already man,

 

I got quoted $1800 for a New 1.8 Stream,comprehensive with AXA. 10% NCD only cos I've been driving abroad and lost all my previous NCDs.

[Route88]

My ride is 2.4 cc,comin to 3.5years. Looks like my avatar

No xcess if repair with their workshop,windscreen free. Ins premium will get lower if

ur loan amount getting less n less and ncb up and up

 

AIG is a bit stiff....but cheaper not necesary good,depends on package u want.

[Route88]

For ur age and ncb,should be ok bah....try diff quote with diff agent next year

[Route88]

Hmmm....i dont know abt this sia....now den u give info

[Vit4wd]

what is i'm self-employed? i.e, own business?

 

ic... i'm only 23 and just started working.

 

i already have a car but it's under my brother's name. thinking of changing car and having it under my name instead.

 

 

If you are in your 20s.... The way to go is to register your first car under a "low risk" age group person in your family.

 

Then if you can't wait any longer, when you hit 30, then register the car in your own name.

 

Great diff in insurance premium for a 29 & 30 yr old, assuming both 0% NCD.

[Andrefoo]

Actually it depends on how you spend. More on the car means less on other things. If you count petrol, road tax insurance and your car loan assuming its about $600 every month, you could easily spend up to 12k maintaining your ride, because there's also tyres, maintenance ERP and all the other stuff you have to think of. I calculated for myself, if i buy a car, means I spend less on other things. The plus side is that I used to spend a lot on cabs as I was always rushing for time, now its easier for me with my own vehicle and the amount i pay for it is about $300 more than if I were to take public transport....

 

 

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