Getting a first car, need advices

[SGCMwind79]

I agree with the rest that you should downpay as much as you can.

But more importantly, you should also have some savings for rainy day, you never know if you will urgently need cash...

You may need to pay those extras if you got retrenched? Car kena accident? Pay fine?

 

[Acewin]

Yup i did factor the rest of the car expenses in.. Thanks for the advice.

 

As for why did i switch to driving is becoz had a bad accident a few months back.

 

Enough of the downpayment thingy, i appreciate it though.

 

New car or 2nd hand car?

 

Depends on your financial. If can afford brand new would be the most ideal.

[Jamesc]

Its simple

 

$50 more for a 1 year old car?

 

Take it.

 

Pays for itself in terms of maintainence

and 3 years of extra driving.

[Expertz]

even if you bought a car and your monthly installment is low, don't forget to factor in your insurance

my friend just bought a rx8 recently and his insurance is 7k

if his insurance drops 1k per year, after 5 years he'll be paying over 25k for insurance alone

do your maths properly

 

also whatever $$ you have, just throw into your downpayment

every cent counts esp if you are taking a long loan period.

don't forget the earlier you fully own your car, the sooner you can go for 3rd party insurance n save $$

[Noel]

I suggest you to fork out some down payment for the vehicle. Mentioned by forumers here, there are some other factors you need to weigh down such as petrol, parking charges, etc.

 

There are always pros and cons buying a new or second hand vehicle. If you browse through and search the forums here, there are lots of incidents that you can learn from.

 

Do not rush, take your time. Owning a car is a long lifetime commitment.

 

Good luck in your search!

[Pcslim]

Thumb of rule for any purchase (house, car, etc): Minimise your loan as much as possible. Period.

[Djdp]

other then the age of e car, u might want to look into scrap value & body value of e car. it will also kind of determine

 

ur break even period.

 

for ex. a 05 altis n 06 altis have almost the same scrap value n same body value, but selling price of 06 one is like around 6k higher then the 05 one.

for me, the 05 one make more sense

[Minikong]

Your fren working for the bank? The more loan you take up the more loan interest you will have to pay the bank. That fren of yours very naive.

Put whatever amount you are comfortable with such that you will not be burden by the installment.

 

I think you know lah. Things like petrol bill, insurance & roadtax, parking etc have to be factored in. Just can't look at the amount of installment per month. Dun forget you will have to eat also unless you are not human.

 

Usually when COE prices are up ppl switch from driving to riding, you are the exception.

 

agree if u can really afford, cut the loan to less than 3 years

[Helpmeplz]

Thanks fellow forumer, now i get i got a clearer picture of how downpayment will benefit.

 

COE going up again.. Is my option more clearer now? Second hand?

 

Or Maybe the COE will drop towards the festive year-end season??

[Galantspeedz]

hmm...

 

no point loan lah...

 

I chose to pay full to save on interest and can buy 3rd party insurance

 

Because u RMC mah

[Galantspeedz]

Ts if u r free u can come find me and I explain to u how it works or u can look thru my various posts to get a idea of how it works.

 

U are only paying 50 more is because ur loan is stretched for an extra 3 yrs not because it is only more expensive by $50 a month. There is a difference.

 

In short, which car is of more value depends on how long u intend to keep the car. The depreciation quoted is only of use if u drive till end of coe otherwise it is pretty much useless and paints a false picture.

 

Treat me to coffee if u r interested to know more cuz knowing how to buy a car is not that simple.

 

Don't worry I not car dealer, I just trying to help out a fellow mcfer

[Helpmeplz]

Ts if u r free u can come find me and I explain to u how it works or u can look thru my various posts to get a idea of how it works.

 

U are only paying 50 more is because ur loan is stretched for an extra 3 yrs not because it is only more expensive by $50 a month. There is a difference.

 

In short, which car is of more value depends on how long u intend to keep the car. The depreciation quoted is only of use if u drive till end of coe otherwise it is pretty much useless and paints a false picture.

 

Treat me to coffee if u r interested to know more cuz knowing how to buy a car is not that simple.

 

Don't worry I not car dealer, I just trying to help out a fellow mcfer

 

Thanks buddy, i appreciate it, and got a clearer picture of how it works. Thanks!!

 

 

[Shanhz]

I think you are making a mistake of thinking that you would be happy to drive a second hand mid range car over a long term. You may think that now but its almost guaranteed that you would either want something better soon or like something else soon especially since this is your first car.

 

You need something that is within your budget, practical and yet possible to replace in a year or two without burning a hole in your pocket.

 

Get a 10 year old honda civic with new coe and inspection cert with a 6 month waranty from the dealer.

35k currently . 10 k downpayment 460 per month for 5 years. You can drive a few years or sell after a year with some money back.

 

Dont get the 'best' you can afford now and regret.

 

to TS: all the advises for 1yr old or 4yr old has its merit. 1yr old is newer and presumably less troublesome and got warr. price is higher coz interest paid over longer period (more than juz $50 per mth) but u get peace of mind.

 

the 4 yr old may have bigger mechanical probs but for a typical jap car, setting aside $2k for repairs is more than enuff to last you a long long time.

 

dun listen to this advise on the COE car. any car that is past 10 yrs will be worth only as much as the COE value. there is NO body value. NO resale value (unless u sell to direct buyer, and have holding power to wait for this buyer to appear). sorry to this poster.. :)

[Happily1986]

to TS: all the advises for 1yr old or 4yr old has its merit. 1yr old is newer and presumably less troublesome and got warr. price is higher coz interest paid over longer period (more than juz $50 per mth) but u get peace of mind.

 

the 4 yr old may have bigger mechanical probs but for a typical jap car, setting aside $2k for repairs is more than enuff to last you a long long time.

 

dun listen to this advise on the COE car. any car that is past 10 yrs will be worth only as much as the COE value. there is NO body value. NO resale value (unless u sell to direct buyer, and have holding power to wait for this buyer to appear). sorry to this poster.. :)

 

I second this.

[Helpmeplz]

today just view a honda fit from a direct owner, price is resonable, but however cosmetic wise need some touch up.

 

problem is i do not have any idea how much the touch up will cost me. Any bro here can enlighten me?

 

some minor scratches, and a smoke knock on the bumper. And if i were to get from a direct owner, how is the proceeding done?

 

i may need to view and test drive before i finalised the deal again, any thing is should look out for? THanks!

[Galantspeedz]

today just view a honda fit from a direct owner, price is resonable, but however cosmetic wise need some touch up.

 

problem is i do not have any idea how much the touch up will cost me. Any bro here can enlighten me?

 

some minor scratches, and a smoke knock on the bumper. And if i were to get from a direct owner, how is the proceeding done?

 

i may need to view and test drive before i finalised the deal again, any thing is should look out for? THanks!

 

Depend what needs to be done. Minor scratches maybe can polish, small knock it depends. If me, I will choose to respray car abt $600-800 for same colour, include getting rid of small knock. Choose this route if u want it super kilat for your first car.

 

As for direct owner procedures, I rem answering to a thread by a mcfer simontan not too long ago. Do a search

[Helpmeplz]

Went again to the AMM last week. Came across a 2.5 year old car, and found the price to be quite reasonable, so did a check with the sales man, and got to know that the car was involvenin an minor accident. Frame and engine of car is intact. And over the years of 2.5 years, 3 transfer done. A respray of the car is done but different from The primary colour.

 

My question is will a STA check tell me if the engine/car is in good condition?

 

And wad are the view of fellow forumer here?

 

Frankly speaking, I was impress that the sale person integrity, and appreciate it. The price of that car is 5k below market price.

It really tempt me to put my name on the paper.

[Little_prince]

Went again to the AMM last week. Came across a 2.5 year old car, and found the price to be quite reasonable, so did a check with the sales man, and got to know that the car was involvenin an minor accident. Frame and engine of car is intact. And over the years of 2.5 years, 3 transfer done. A respray of the car is done but different from The primary colour.

 

My question is will a STA check tell me if the engine/car is in good condition?

 

And wad are the view of fellow forumer here?

 

Frankly speaking, I was impress that the sale person integrity, and appreciate it. The price of that car is 5k below market price.

It really tempt me to put my name on the paper.

 

3 owners in 2.5 yrs..

 

probably a lemon...

 

STA check is damm useless... even accident car also A/B.

 

get a trusted workshop to help u check to be safe