Dowz 1st Gear March 27, 2010 Share March 27, 2010 Just wondering, i see on the newpapers, many ads like 'drive a bmw, only 303 per month' like the advertisement on today's straits times or an audit ' at 200+ per month' what gives? what's the catch? and the ads are by the ADs. anyone knows? ↡ Advertisement Link to post Share on other sites More sharing options...
Wanderer Clutched March 27, 2010 Share March 27, 2010 The first thing that came to my mind is this If you want to pay low installments monthly, you would have to make a huge downpayment in the first place. Any other things, check with the SE Link to post Share on other sites More sharing options...
Jp66 5th Gear March 27, 2010 Share March 27, 2010 The easiest way to call the SE and ask. Since I am not buying bmw or audi, so don't bother... But, what cross my mind is: Make a down payment (eg 40%), pay only interest for 1st 2 yrs (in this case $200- $300 per mth), then pay interest and principal from 3rd yr onward. So if you planing to change car 2 yrs later and use it to offset the balance, it could be quite a good deal. (Just my own guess ) Link to post Share on other sites More sharing options...
Sony 1st Gear March 27, 2010 Share March 27, 2010 mark up the car price, set it as discount for you upfront or work the discount to offset the monthly installment for 1st year.. there's plenty of way to skin a cat... then there's also T&C. a car that cost 150k will cost 150k, no matter what. you will have to pay that amount + interest. Link to post Share on other sites More sharing options...
Ultramega 1st Gear March 27, 2010 Share March 27, 2010 My best guess is that the minimum loan is around 30k.... add the interest then divide by 120 months (the max load period of 10 years), you get monthly repayments of $300+ Link to post Share on other sites More sharing options...
Maroon5 5th Gear March 27, 2010 Share March 27, 2010 likely first yr instalment subsidised or something... Link to post Share on other sites More sharing options...
Blackyv Turbocharged March 27, 2010 Share March 27, 2010 Just wondering, i see on the newpapers, many ads like 'drive a bmw, only 303 per month' like the advertisement on today's straits times or an audit ' at 200+ per month' what gives? what's the catch? and the ads are by the ADs. anyone knows? u bother to digest it?.. seriously, i never bother to ... .....as some pointed out, when a car cost 100K, the buyer have to fork out the 100K + interest somehow over the years....... it's just a matter of now or later... so, if one is thinking he could drive a BMW or Audi with just ~$200-300 per mth, even for 10yrs loan and wondering is it a zero down payment deal, he is not from this small dot or "living in a wonderland" or simply naive.... Link to post Share on other sites More sharing options...
Osiris 1st Gear March 27, 2010 Share March 27, 2010 usual for them. first year low installment, 2nd year onwards full payment. ie deferred payment. Link to post Share on other sites More sharing options...
Xtrocious 1st Gear March 27, 2010 Share March 27, 2010 My best guess is that the minimum loan is around 30k.... add the interest then divide by 120 months (the max load period of 10 years), you get monthly repayments of $300+ Nope - to qualify for these schemes, they want you to put as little down as possible and borrow as long as possible... It's just how they play with the "discount" that they give to the buyers... Instead of giving it straight to the buyer (usually as overtrade), they spread it over the first year to enable marginal buyers to pay very low instalments... In the past, BMW also used balloon instalments which step up very rapidly after the first year... In the end, there's no first lunch Link to post Share on other sites More sharing options...
Dunno Neutral Newbie March 27, 2010 Share March 27, 2010 (edited) Always believe there's no free lunch, period. Most probably need u to take 10 yr loan and only enjoy low instalments for the first or maybe 2nd year, then the rest of the years you have to pay more to cover up the remaining loan. When I say "more", it means more in terms of instalments as well as interest accumulated by the remaining high outstanding loan. Really no free lunch, just marketing gimmick. In fact, you end up paying more in total as compared to normal loans, due to the interest charged on the ballooned outstanding loan still unpaid. Edited March 27, 2010 by Dunno Link to post Share on other sites More sharing options...
Dowz 1st Gear March 27, 2010 Author Share March 27, 2010 i see, thanks brudders. just wondering how is it possible for 300+ p.m for a BMW. if so, all fresh graduates can get a beemer already. Link to post Share on other sites More sharing options...
Jp66 5th Gear March 27, 2010 Share March 27, 2010 i see, thanks brudders. just wondering how is it possible for 300+ p.m for a BMW. if so, all fresh graduates can get a beemer already. No need fresh grad, anyone who wants to own a car can buy beemer Link to post Share on other sites More sharing options...
Mortoncar Neutral Newbie March 27, 2010 Share March 27, 2010 the fastest way to increase one's debt Link to post Share on other sites More sharing options...
Metalbone Clutched March 27, 2010 Share March 27, 2010 lol 300 each mth for BMW, means I can buy 2 BMWs based on my loan amt each mth... Link to post Share on other sites More sharing options...
Leepee 1st Gear March 28, 2010 Share March 28, 2010 What??? How come they never offer such a good loan del like this in Feb when I was buying my BMW. THis low monthly payment is very good for me as I just start work. I can save more each month and can go holiday and eat better. Current car loan is squeezing me by the throat....have to depend on my BF for many essential things when we go out dating! Link to post Share on other sites More sharing options...
Sony 1st Gear March 28, 2010 Share March 28, 2010 What??? How come they never offer such a good loan del like this in Feb when I was buying my BMW. THis low monthly payment is very good for me as I just start work. I can save more each month and can go holiday and eat better. Current car loan is squeezing me by the throat....have to depend on my BF for many essential things when we go out dating! didn't know you are so open and gay about it Link to post Share on other sites More sharing options...
Tinydog Clutched March 28, 2010 Share March 28, 2010 didn't know you are so open and gay about it A guy??? lol. Link to post Share on other sites More sharing options...
Neoxenon Neutral Newbie March 29, 2010 Share March 29, 2010 There's a saying, "the only free lunch in the world is at the end of a hook". Like what everyone else said, the car will ultimately cost you more than S$120k, no matter how you try to slice it. Everyone knows that such an arrangement that allows you to pay very little now is going to cost you big time in the long run (in terms of interest paid). So this gimmick is really targeting those who are very desperate to get their dream car, or very optimistic about their future earning power. Most experienced bros in this forum will tell those buyers "not to chew off more than you can bite". ↡ Advertisement Link to post Share on other sites More sharing options...
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