Car Loan Question

[Versatile]

And you are buying a car?

 

Wow!

 

Gulp.....No wonder the streets are flooded.

 

This is the reason why never disclosed your monthly salary to the public. No offence but how much do you think one should earn to afford a car? I know many MCF-ers are elites here but that doesn't mean that the average income earners can't afford one themself. In any case, this is not the first car i owned.

 

And, the topic is merely a question and i don't know why such sarcasm comes into the topic. Anyway, not surprised.. this is MCF.

Edited September 21, 2011 by Versatile

[Ithunk]

This is the reason why never disclosed your monthly salary to the public. No offence but how much do you think one should earn to afford a car? I know many MCF-ers are elites here but that doesn't mean that the average income earners can't afford one themself. In any case, this is not the first car i owned.

 

And, the topic is merely a question and i don't know why such sarcasm comes into the topic. Anyway, not surprised.. this is MCF.

 

bro jus relax

 

anyway for loan approval they will check your back ground credit history and stuff...since u have to top up jus top up the amount

 

if not jus wait for the two other loan applications

Edited September 21, 2011 by Ithunk

[Versatile]

bro jus relax

 

anyway for loan approval they will check your back ground credit history and stuff...since u have to top up jus top up the amount

 

if not jus wait for the two other loan applications

 

No la bro, i very relax. I just despise people think they're pretty well off and pass down such remarks telling people that you earn average earner's pay, you should not get a car, you are causing the daily jam on the race, it's your fault, please don't get a car metality.

[Throttle2]

This is the reason why never disclosed your monthly salary to the public. No offence but how much do you think one should earn to afford a car? I know many MCF-ers are elites here but that doesn't mean that the average income earners can't afford one themself. In any case, this is not the first car i owned.

 

And, the topic is merely a question and i don't know why such sarcasm comes into the topic. Anyway, not surprised.. this is MCF.

 

If you dont use pride and ego to read my comment, it is about the general state of the roads in singqpore . Truly so and caused by the govt after they laxed all the rules. Nothing against you either becos i would say the same thing to a friend.

 

End of the day, your money your life your choice.

 

But sometimes whats required is a jolting comment to make people realise. It doesnt help if i also play along with you, right?

 

So hopefully you dont get so offended now.

It's not about salary, its about suitqbility too

It some one who earns $20k wants to buy a $700k ferrari, ithe message would be the same.

 

If i dont make sense, just ignore me.

 

 

[Cook1234]

when i started working after graduation 10 yrs ago, i was earning 30kpa, that time i was taking a high loan for my first car.

 

now i am earning 10-15 times that amount, not including passive incomes, yet, driving an 8 year old 3litre car, fully paid up.

 

personally, i wise up as i age, speak to different people and learn different experiences and way of doing things. i dun see the need to take loans for cars as at the end of the day, cars are a liability more than anything else...far different from taking loan to buy a condo, or even blue chips for that number of years of holding a car for that same amount of money.

 

that's just my view...i think many will not agree with me anyway.

[Acieed]

Take it easy, bro. Anyone has the right to take loans as long as you know what you're doing.

 

You will be paying interests, about two times your monthly salary, presumably for a 5-year old car at a price equivalent to about 1 year income. After 5 years you will not get to keep the car If that's what you're comfortable with, why not ?

 

No la bro, i very relax. I just despise people think they're pretty well off and pass down such remarks telling people that you earn average earner's pay, you should not get a car, you are causing the daily jam on the race, it's your fault, please don't get a car metality.

 

[Booboon]

Ts, u sold yr avante n used the money "earn" for this car right?

[Versatile]

Ts, u sold yr avante n used the money "earn" for this car right?

 

Yes, you're right. I sold my Avante for this car.

 

[Versatile]

If you dont use pride and ego to read my comment, it is about the general state of the roads in singqpore . Truly so and caused by the govt after they laxed all the rules. Nothing against you either becos i would say the same thing to a friend.

 

End of the day, your money your life your choice.

 

But sometimes whats required is a jolting comment to make people realise. It doesnt help if i also play along with you, right?

 

So hopefully you dont get so offended now.

It's not about salary, its about suitqbility too

It some one who earns $20k wants to buy a $700k ferrari, ithe message would be the same.

 

If i dont make sense, just ignore me.

 

No worries, no ego or pride is used when i read your comments. Just trying to put things straight when such comments is being made.

[Versatile]

Take it easy, bro. Anyone has the right to take loans as long as you know what you're doing.

 

You will be paying interests, about two times your monthly salary, presumably for a 5-year old car at a price equivalent to about 1 year income. After 5 years you will not get to keep the car If that's what you're comfortable with, why not ?

 

The break even point is 4 year. If i continue to drive till 5th year, i'm still able to get a certain amount back less the interests, petrol, roadtaxes paid. In any case, owning a car in Singapore is not an asset and i know it.

 

I'm pretty comfortable in forking out a slightly higher installment after much calculation. If not i wouldn't take huge step in changing. Basically, the old and new is the same price i paid for my Avante less the year differences.

Edited September 22, 2011 by Versatile

[Throttle2]

when i started working after graduation 10 yrs ago, i was earning 30kpa, that time i was taking a high loan for my first car.

 

now i am earning 10-15 times that amount, not including passive incomes, yet, driving an 8 year old 3litre car, fully paid up.

 

personally, i wise up as i age, speak to different people and learn different experiences and way of doing things. i dun see the need to take loans for cars as at the end of the day, cars are a liability more than anything else...far different from taking loan to buy a condo, or even blue chips for that number of years of holding a car for that same amount of money.

 

that's just my view...i think many will not agree with me anyway.

 

 

I am meeting Porker for a cigar this saturday, you care to join?

[I_RIDE_DEEP]

when i started working after graduation 10 yrs ago, i was earning 30kpa, that time i was taking a high loan for my first car.

 

now i am earning 10-15 times that amount, not including passive incomes, yet, driving an 8 year old 3litre car, fully paid up.

 

personally, i wise up as i age, speak to different people and learn different experiences and way of doing things. i dun see the need to take loans for cars as at the end of the day, cars are a liability more than anything else...far different from taking loan to buy a condo, or even blue chips for that number of years of holding a car for that same amount of money.

 

that's just my view...i think many will not agree with me anyway.

 

Wow.. You are so great and doing so well. Unlike poor me.

 

[Cook1234]

cigars are bad for lungs. i can't join.

[Throttle2]

cigars are bad for lungs. i can't join.

 

Cigarettes bad for lungs

cigars are not.

I put a fan to blow away all the smoke from you .