Sec Hand Versus New

[Shadyfish]

Based on your nett income and fact that transport allowance can be removed anytime, safer to request for company's transport. A van or pick up is better than forking own $$$ to buy a car. At least, maintenance and petrol is on company's expenditure. Don't forget, allowance is still income taxable. So, nett effect is even lesser for your car allowance. A Picanto and Getz can easily cost $1,100/month to up keep.

 

the problem is my company got no van/pickup...i am a sales/marketing staff...just joined the company not too long...will need to run around to meet clients...quite bobian and its really a chore to take taxi and bring all my sales barang barang up and down n meet client... for me, my company gives the car allowance as "claims" at the end of the month.... please advice bro on any idea i can get a car yet monthly maintenance be like < 1.1 - 1.2k...very much appreciate all the kind feedback here...its really helping me

[Shadyfish]

So from what i know now is that, whether new or 2nd hand car,

 

1) i still need to pay insurance fee yearly of around 2K++ depending on car model

2) road tax yearly payment too

3) monthly installments w interest loan serviced from either bank/dealer(2nd hand car)

4) petrol and parking expenses

5) maintenence....

 

 

so if i choose not to put a downpayment, choosing full-loan.... i will also need to standby about 4k as will need to pay that immediately when buying a car right? correct me if i am wrong....

 

some more questions:

 

COE at the end of car's life, scrape off value is the COE ?

 

OMV and PARF stands for what and what are their uses in me deciding to own a car?

[Picanto]

net income 1.44k and can have a transport allowance of 850/mth from company

 

with these $$, i recommend buy a picanto/getz. the bigger the car you buy, the less savings you have.

but if saving $$ not that important to you, then can also consider a 1600cc car.

[Guest EverestLeasing]

So from what i know now is that, whether new or 2nd hand car,

 

1) i still need to pay insurance fee yearly of around 2K++ depending on car model

2) road tax yearly payment too

3) monthly installments w interest loan serviced from either bank/dealer(2nd hand car)

4) petrol and parking expenses

5) maintenence....

 

 

so if i choose not to put a downpayment, choosing full-loan.... i will also need to standby about 4k as will need to pay that immediately when buying a car right? correct me if i am wrong....

 

some more questions:

 

COE at the end of car's life, scrape off value is the COE ?

 

OMV and PARF stands for what and what are their uses in me deciding to own a car?

 

 

 

COE at the end of car's life, scrape off value is the COE ?

 

- At the end of car's life, scrape off value is the minimum PARF. This is based on a percentage of the OMV. Can be 80%, 65%, 55% or 50%, depending on when the car was registered. See What is Paper value

 

OMV and PARF stands for what and what are their uses in me deciding to own a car?

 

- OMV is the original cost of production of the vehicle. The higher the better, so that you can get back more money when you decide to deregister/scrap your car.

 

 

[Yaloryalor]

Hi all,

 

Looking for some advice down here. If I am planning to go overseas to work in about 4 to 5 years time. Would it be advisable to get a sec hand say a 05 car ( Range ~30K) versus a brand new car? I suppose a sec hand car would make more sense, but how does the calculation goes?

 

If I were you, I will buy a 2nd hand 1.5 or 1.6L Jap car. Buy 2~3 years car so has lower depreciation. Jap car cos reliability and cheaper parts.

 

 

Edited September 16, 2009 by Yaloryalor

[Jakku]

If I were you, I will buy a 2nd hand 1.5 or 1.6L Jap car. Buy 2~3 years car so has lower depreciation. Jap car cos reliability and cheaper parts.

I am considering that as well.. My take home is around 3k only and I dun wish to spend to much money on transport( planning to get married) btw, is insurance really so ex, I am going to be 26 next year

[Rickster]

Hi all,

 

Looking for some advice down here. If I am planning to go overseas to work in about 4 to 5 years time. Would it be advisable to get a sec hand say a 05 car ( Range ~30K) versus a brand new car? I suppose a sec hand car would make more sense, but how does the calculation goes?

 

If i were you, I'd go for a 2nd hand car. New cars now are freaking expensive.

 

Go for those that are about 1 yr old +/- that are still under warranty.

 

Weather you buy it from dealers or direct owners, you will be able to save a great deal as compared to brand new.

[Rickster]

How do I calculate the depreciation per year for each car? I suppose sec hand cars like my sec hand bike would still have some wear and tear parts to replace. Many thanks for the input

 

Thats y get those that are about a year old. These cars hardly have any wear & tear parts to change.

 

Anyway, for wear & tear parts of a car, they are usually things like tyres, battery, brakes, timing belt etc not very expensive items.

[Rickster]

hi bro, thanks for sharing..

 

btw, i m contemplating between a 2nd hand mazda 3, toyota altis 1.6 and mitsubishi lancer 1.6. dunno which one is between in terms of FC, cost of maintainence, depreciation, horsepower etc..

 

owners of these models, hope u can share ur experience and views here.. thanks.. sorry TS for hijacking ur post cos i cant put up a new post. dunno y.

 

Among these 3, dun bother about performance.

 

However, for comparison sake, Mazda 3 gives the worst acceleration & FC but the best high speed handling among the 3.

 

Maintenance wise, all 3 are about the same.

[Rickster]

Hi there,

Sorry i am a newbie here in this forum..i have just started a job and looking to buy a car due to the nature of the job i am in...in sales n marketing.... i just looking around for a small capacity car...either a Kia Picanto or a hyundai Getz...can some kind souls here help me whether is it a fuel efficient car?

 

Can also someone explain to me on how to go about getting a used car from this forum and what are the things to look out for? Thanks in advance

 

I cant start a new thread in this forum so sorry to TS for starting my own question

[Rickster]

the problem is my company got no van/pickup...i am a sales/marketing staff...just joined the company not too long...will need to run around to meet clients...quite bobian and its really a chore to take taxi and bring all my sales barang barang up and down n meet client... for me, my company gives the car allowance as "claims" at the end of the month.... please advice bro on any idea i can get a car yet monthly maintenance be like < 1.1 - 1.2k...very much appreciate all the kind feedback here...its really helping me

 

Actually, it all depends on how much you are willing to down pay for your car. the 1.1-1.2K/mth is more likely the figure that comes with a $500 monthly loan repayment.

[Z8040235]

Borrowing TS thread,

 

I'm looking at buying a used car too due to my job requirement. Thinking of getting a 3-4 yr old Honda Civic or Hyundai Avante. Some details of my situation:

 

1) Gross Salary 3.2k

2) Will be getting 700 for vehicle allowance

3) Will be given fuel card from my company

4) Having 2 kids that's why getting sedans

5) Cash tight right now

 

Some questions for fellow forumers:

 

1) I intend to get a full loan w/o deposit, will i be able to get the loan to cover the insurance from the dealers too?

2) What about the transfer fee, is it inclusive in the price of the car or is it additional? If its additional, possible to get that in the loan too?

[Yapahfai]

Borrowing TS thread,

 

I'm looking at buying a used car too due to my job requirement. Thinking of getting a 3-4 yr old Honda Civic or Hyundai Avante. Some details of my situation:

 

1) Gross Salary 3.2k

2) Will be getting 700 for vehicle allowance

3) Will be given fuel card from my company

4) Having 2 kids that's why getting sedans

5) Cash tight right now

 

Some questions for fellow forumers:

 

1) I intend to get a full loan w/o deposit, will i be able to get the loan to cover the insurance from the dealers too?

2) What about the transfer fee, is it inclusive in the price of the car or is it additional? If its additional, possible to get that in the loan too?

 

 

nope. insurance is separated from car loan. Normally, u need to pay for 1 year insurance first.

For subsequent insurance payments, can arrange to pay yearly or monthly, depending on which company.

Transfer fee is also separated. Need to pay full first.

 

From your description, is your total take-home pay $3260 inclusive of allowance?

For fuel card, are u charging all petrol expenses to it? Any max limit? All petrol costs fully covered?

Edited September 16, 2009 by Yapahfai

[Jakku]

nope. insurance is separated from car loan. Normally, u need to pay for 1 year insurance first.

For subsequent insurance payments, can arrange to pay yearly or monthly, depending on which company.

Transfer fee is also separated. Need to pay full first.

 

From your description, is your total take-home pay $3260 inclusive of allowance?

For fuel card, are u charging all petrol expenses to it? Any max limit? All petrol costs fully covered?

 

quite shiok got fuel card.. if only i get one fuel card as well

[Alfisti168]

hi bro, thanks for sharing..

 

btw, i m contemplating between a 2nd hand mazda 3, toyota altis 1.6 and mitsubishi lancer 1.6. dunno which one is between in terms of FC, cost of maintainence, depreciation, horsepower etc..

 

owners of these models, hope u can share ur experience and views here.. thanks.. sorry TS for hijacking ur post cos i cant put up a new post. dunno y.

Between these 3, Altis is the most fuel-efficient. Maintainance wise all 3 should be about the same, assuming you don't service with Agent.

 

Performance wise the Altis is lightweight, hence should have good performance. It should be quieter than the Lancer too. Mazda 3 will be underpowered, but will offer the best handling among the 3. And Mazda 3 also has the styling that would last too - Altis and Lancer styling will be VERY dated 3-4 years down the road.

[Mach23]

For relatively cheap and trouble-less motoring, Altis gets my vote as well for fuel efficiency and quality repute. However, getting a used car requires doing some homework before purchase. Consider the following:

1. Accident-free?

2. Mileage (15-20k km or less per annum would be average)

3. Test drive (listen out for strange noise/unusual behaviour)

4. Under warranty?

 

If in doubt, get a trusted friend (preferably one who own the same make/model) to go with you for a spin. And don't stinge on the vehicle assessment (e.g. Vicom, STA) unless you have a trusted mechanic to provide objective review.

 

All the best...

Edited September 16, 2009 by Mach23

[Z8040235]

nope. insurance is separated from car loan. Normally, u need to pay for 1 year insurance first.

For subsequent insurance payments, can arrange to pay yearly or monthly, depending on which company.

Transfer fee is also separated. Need to pay full first.

 

From your description, is your total take-home pay $3260 inclusive of allowance?

For fuel card, are u charging all petrol expenses to it? Any max limit? All petrol costs fully covered?

 

My take home would be $3120. All petrol cost fully covered.

[Subutai]

For 2nd hand cars, remember to cross check servicing / mileage with AD and verify that vehicle is still under AD warranty if vehicle less than 3 yrs...

There have been feedbacks of the odometer being tampered.

And of course, keep a sharp eye to look for any phyiscal defects on car body, etc, etc.