2nd Hand car vs new car

[Snowblind]

The buyer got 30k cash

[Chris80]

This getz pricing is good provided it is not after cash rebate. Almost dep $10k in the first yr. However buying korean car must hold for long time cos when selling off, they will tell you no resale value. Performance for Hyundai not so good. Maintenance wise, no idea.

[Bunny21]

Sorry. first time buy car. How do you what is the depreciation valve of a car?

If the depreciation is divided by the number of year then why first few year will depreciated a lot. Blur already...

[Mzrmazda3]

If i were you, would use maybe 20K to get a brand new ride and keep the remaining 10K for rainy days

 

Good FC rides can consider Honda Jazz (M) from KM but PI already bring in the 2008 model one liao

 

For Point A to Point B, there are tons of rides available & it will depend on what you want Jap/Korea/Thai/Conti makes are available & also your monthly installment ... etc to take into consideration

[Friendstar]

sighz. its a 1.1m

why mention about performance.

 

 

i donno but resale value for korean cars have been decent.

i don't see an avante depreciating faster than an altis.

[Mzrmazda3]

Basically there is not much re-sale value for cars nowadays ...

[Friendstar]

agreed!!!

hahaha

 

i'm just gonna keep my cars till 10 years

 

dont wish to give govt so much money.

Edited March 1, 2008 by Friendstar

[Leecc73]

I guess no resale value for all the cars.

 

U compare,

Europe??? worst

 

Japan maker

Suzuki

Nissan

May be toyota and Honda better a bit but the price not so good.

Like Old Vios sec. good but if you compare Altis, really bad

 

As long as price cheap and slightly easy maintenance, part cheap i think should be easy to sell. What ever model.

[Nys75]

I would like to recommend you to buy new car and drive for at least 5 years. Lower interest rate than 2nd hand car and likely less problem or no problem for first few years.

 

Perhaps you could buy Daihatsu Sirion 1.3 or Mit Lancer 1.6 GLX. Down 15k-20k, keep the remaining of your cash for rainy days or investment for better ROI when market is bullish.

 

Both cars about the same price and OMV. Different are HB vs Sedan, capacity and Lancer has higher insurance and road tax.

Edited March 1, 2008 by Nys75

[Viceroymenthol]

If paying by cash, then 2nd hand car is more worth it?

 

On the other hand, if buying car whether 2nd hand or brand new, should one pay up all that cash now? Seeing that how high inflation is going to set in the next few years?

 

Shouldn't buyer use the excess money to pay up car to invest in high yielding asset classes like commodities and property? That means pay lowest downpayment for car as possible?

 

Interested to hear your opinions..

Edited March 1, 2008 by Viceroymenthol

[Iygnaug]

This is the problem with a lot of people thinking of buying 2nd hand cars.

 

They only look at the price and never take into consideration the higher int rate (2.5% new vs 3.18% for used), the transfer fees, the lower selling price next time since you'll be 2nd owner and the discount you should factor in for the risk + buying 2nd hand.

 

Having said that, there're of course good and fair deals around for sure.

 

It is easy to get loans for 2nd hand cars at 2.8%. Some 2nd hand car dealers even lower the interest (to 2.8%) if you borrow LESS. Of course, you will have to pay $300++ transfer fess. Some dealer might even charge you contract fees. Actually, the prices listed on sgcarmart are all reference prices. Depends if u know the boss, prices can actually go down by more than 2K with 2.8% rate.

 

Actually the most important thing is to buy 2nd hand cars only from people you really know well with, because hopefully they will tell you the seller's reason for selling. My dad used to sell an accident vehicle to a dealer, and the dealer passed off as accident free. So be careful. As what other bros had mentioned, decide how long you want to keep the car before you buy, then do some calculations. My recommendation is for you to get a almost new car(less than a year) with a few years of warranty left from dealer. At least that's what i did.

Edited March 1, 2008 by Iygnaug

[Snowblind]

Maybe you could be more specific with wat type of car you want.

Prefer hatch or saloon or others, manual or auto? And how long you intend to hold the car.

It will be helpful if someone who bought a 2nd hand car could share their experience.

 

How about this...seems very cheap

 

http://www.sgcarmart.com/main/info-2EjYBQUp-1034.html

Edited March 1, 2008 by Snowblind

[Bunny21]

I am think of a hatch with auto. as for how long may be two to four years...

[Jl1500k]

If buy new car is long term commitment.

If just want to drive 2 - 4 years ofcourse go for 2nd car.

Edited March 1, 2008 by Jl1500k

[Nys75]

Depend on situation...

 

Currently, there are lot of uncertainties in the market (i'm not a pro, just imho, stock look bearish, property look almost peak). It would be better not to "invest" and should use excess cash for down payment. It will minimise the interest paid. But keep certain amount of cash is a must for precautionary purposes.

 

When the market is bullish or started to recover/pick-up from "bad time", minimium down payment and use it for investment would be a wiser move. ROI mostly higher and maybe faster than interest paid. But need to accumulate enough $$$ (subjective) first and use it in the right time (judgement).

[Nys75]

2nd hand Honda Jazz/Fit seem like fit your requirement.

 

Other cars like 2nd hand Suzuki Ignis, Mazda Sp2 are good cars but might be hard to sell away or get at good price.

Edited March 1, 2008 by Nys75

[Snowblind]

Maybe down 10% and take a 2 or 3 yr loan. 06 or 07 cars seems ok as still got warranty I think from dealer. Depends if you want a A to B car with minimum expense, go for the korean cars which seem like almost 6 to 8k cheaper than jap for 06 cars. If you wan abit more style, go for Jazz...nice interior and great FC.

[Bunny21]

any comment on mitsubishi colt?