Deregistrations fall, pointing to slower sales of new cars ahead

[DarkLord]

Waiting for you liaoz!

[Gz0707]

lets see how this scenario works out for this oct 2006 sunny. the plan is to scrap at 5th yr

http://www.sgcarmart.com/main/info-2EYi36Um-1166.html

 

Price - $44k; loan - $40k; loan period - 4 yrs; I/R - 3%

COE - $12k; OMV - $12k

full amt : $44k + $4.8k (i/r) = $48.8k

monthly installment = $933

 

scrap value - 0.825 x 12k = $9.9k

COE = 0.5 x 12k = $6k

body value = $3k

total scrap value = $18.9k

dep per yr : (48.8k-18.9k)/4 = $7.475k

 

at the end u only get abt 19k-20k max, whilst paying a high installment of $933 per mth and depreciation in the 7k range.

Edited October 9, 2007 by Gz0707

[Ghostrider]

Well...can't have the best of both world.

 

Look at it this way....every 9033 you pay...a small portion will come back to you in the end.

 

Off course if you can drive the car for 10 yrs....you will save lah.

 

Like I said...those that can do that (I do know of such people) will not visit forums. They will just poke in the key....turn and drive. What FC...what mod is good...what exhaust etc...who cares. Car can start...can move, stop they are happy liao.

[Ahyoo2002]

IMHO...if there are such pple...they won't be in car forums liao.

 

I have a idea that was struck by a friend...buy a cheap used or new car (like the Sunny or Lancer). Enjoy the warranty period...100% loan and pay off in 4~5yrs (must be before 5th year) and then scrap the car. plus point is that interest will be low...minus point is installment will be high. But rewards is that when you scrap...all the money will go to you. So the 4yrs + of suffering paying high installments, you will be reward with a lump sum...(should be around 13~15K)

 

But can you tahan or not lor...if you can...this is one of the way to go.

 

The rewards shoule be, after fully paid off the loan, drive the car till full 10 years and no need to pay installment at all for the 5 years

[Ahyoo2002]

[Relagsingh]

So it's better to buy a good car and drive till scrap than keep changing ...

 

agree. choose a good car that you know it'll spend a good part of your life with you. something that you really really like. not something cheap and get tired of it after a few years.

 

i dun treat car as a mere transport. if so, i might as well go public.

 

so, save more. dun dive in too quickly.

[Vesfreq]

At least, he didn't make u pay for it.

 

My lao bu car now.... i pay. She couldn't pay up and now all the loan I kena. u heng lah. Now, paying for 2 cars. Should have been driving a s2k.

Edited October 9, 2007 by Vesfreq

[Relagsingh]

S2K.... one of my faves.... its an instant classic.

[Vesfreq]

If its not the s2k, it has to be the itr or jdm ctr. At least, the jdm ctr is still a 4 door family car.

[Ahyoo2002]

lastest figure from LTA, deregistrations continue to fall: