Mercury1 Turbocharged August 5, 2019 Share August 5, 2019 Actually some ADs do allow, I manage to get a 2 year loan when I bought my car as it gave a good discount as compared to not taking the loan. Calculated interest paid would still be below the discount itself. Sometimes I think its also down to the SE to bargain with the management but that's my guess lah Its very hard to get a 3yr loan. Reason is that the socalled interest rate is hidden in the multiyear principal that doesnt reduce over time when calculating interest rate. Trust me I tried to ask for 4 or 5 yr loan but was told nope, min 6 years. Basic point is that car buyers need to be smarter than car sellers... unfortunately most times its definitely the other way round ↡ Advertisement 2 Link to post Share on other sites More sharing options...
hpy090909 2nd Gear August 5, 2019 Share August 5, 2019 (edited) You are being overly sensitive. There is nothing wrong giving an example. I'm happy that this is the most expensive car i've bought using cash. Considering I could only afford to pay cash for cars with a 50K price tag previously, I would say being able to pay 100k for a car in full cash is an achievement. Maybe this achievement is nothing to you because you've paid maybe 200k in cash for a car but I can proudly say I am not in debt. This is called living within your means. judging by the number of likes on my rebuttals ....i guess im not the only one being over sensitive and the person who liked yourpost im quoting ...behaves the same way as you all over the internet from eons ago Edited August 5, 2019 by hpy090909 Link to post Share on other sites More sharing options...
Soya Supersonic August 5, 2019 Share August 5, 2019 Sigh, life is not easy. Scrimping to save every month. Who is the bloody full cash sifu? Basket! Some say that the sifu live in CCK But others reported sightings at Nassim Rd All we know is, he sibei haolian Link to post Share on other sites More sharing options...
yishunite Turbocharged August 5, 2019 Share August 5, 2019 I read your post back and forth a few times to have come to a conclusion I am not only poor but also poor in English.Haha sorry The tldr version is that the downpayment is obviously a barrier to owning the car. But its not only about preventing ppl from having too high a debt-service ratio. If u can accumulate $20-$30k in savings (min for new sub-$20k omv car) it shows u have good financial prudence that should also get u all the way thru paying off the loan. And even when u cant pay, u wont suffer much if u default as car can be sold off with outstanding balance cover by paper value. When u get a clever workaround so u dont have to accumulate dp sum and add on top the much bigger debt service ratio u are taking a huge risk on a depreciating asset... so those who cheat the system may think they very clever but the only clever one is the dealer selling u car at high interest rate Link to post Share on other sites More sharing options...
Vid Hypersonic August 5, 2019 Share August 5, 2019 I can’t pay 100% full cash. 100% full loan have? Link to post Share on other sites More sharing options...
RadX Moderator August 5, 2019 Share August 5, 2019 I canât pay 100% full cash. 100% full loan have?I use cpf can?Since all also lose $$, might as well Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 5, 2019 Share August 5, 2019 relatively speaking....i am the most truthful mcfer Sifu !!!! Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 5, 2019 Share August 5, 2019 Some say that the sifu live in CCK But others reported sightings at Nassim Rd All we know is, he sibei haolian No lah, how can be CCK, Enye confirm stay Holland Road area. 2 Link to post Share on other sites More sharing options...
Cheesey74 6th Gear August 5, 2019 Share August 5, 2019 Eh... U one moment say u easily blew $250k on cars, now u say u can only afford to pay cash with a $50k price tag? https://www.mycarforum.com/topic/2713930-goodyear-eagle-f1-asymmetric-5/page-9?hl=goodyear So what is what? Can u make ur mind? And pls.... Ppl calls me Canon King Dun u dare steal my title. Bloody hell... thought after i stole the cannons from sentosa i'm the indisputable big cannon fairy in mcf liao but still i lose to those in this thread... haiz sigh .. Link to post Share on other sites More sharing options...
Vid Hypersonic August 5, 2019 Share August 5, 2019 I use cpf can? Since all also lose $$, might as well Then people will want to use cpf to buy proton too Link to post Share on other sites More sharing options...
ferrytales 4th Gear August 5, 2019 Share August 5, 2019 Both sides are taking a risk. Buyer take the risk that he can continue to service the monthly installment, seller take the risk that they can collect the money.If buyer dont pay the loan, the seller can just tow the car away happily and sue the buyer till pants drop. Seller wins. Link to post Share on other sites More sharing options...
Shibadog Turbocharged August 5, 2019 Share August 5, 2019 I can’t pay 100% full cash. 100% full loan have? I have heard of people taking loan for renewing COE on their own car. But loan more than the PQP amount. Interest rate also higher than normal. 1 Link to post Share on other sites More sharing options...
Ct3833 Supersonic August 5, 2019 Share August 5, 2019 Haha sorry The tldr version is that the downpayment is obviously a barrier to owning the car. But its not only about preventing ppl from having too high a debt-service ratio. If u can accumulate $20-$30k in savings (min for new sub-$20k omv car) it shows u have good financial prudence that should also get u all the way thru paying off the loan. And even when u cant pay, u wont suffer much if u default as car can be sold off with outstanding balance cover by paper value. When u get a clever workaround so u dont have to accumulate dp sum and add on top the much bigger debt service ratio u are taking a huge risk on a depreciating asset... so those who cheat the system may think they very clever but the only clever one is the dealer selling u car at high interest rate Thanks for explaining, I understood what you meant , just joking with you. I canât pay 100% full cash. 100% full loan have?Since you are joking , I would say sell kidney easier. Haha 1 Link to post Share on other sites More sharing options...
flashbang Turbocharged August 5, 2019 Share August 5, 2019 If buyer dont pay the loan, the seller can just tow the car away happily and sue the buyer till pants drop. Seller wins. Sue doesn't mean will get money back. To tow the car they also need to find it. It's a hassle for everyone involved. Dealers rather have a good customer who pays on time. Link to post Share on other sites More sharing options...
Vid Hypersonic August 5, 2019 Share August 5, 2019 Thanks for explaining, I understood what you meant , just joking with you. Since you are joking , I would say sell kidney easier. Haha [laugh] Ok, OT a little. Got time go to Lazada and see this https://www.lazada.sg/products/bowers-wilkins-nautilus-the-ultimate-loudspeaker-black-one-pair-i286446089-s459905538.html Read the Q&A. Good read on a lazy day. 2 Link to post Share on other sites More sharing options...
RadX Moderator August 5, 2019 Share August 5, 2019 [laugh] Ok, OT a little. Got time go to Lazada and see this https://www.lazada.sg/products/bowers-wilkins-nautilus-the-ultimate-loudspeaker-black-one-pair-i286446089-s459905538.html Read the Q&A. Good read on a lazy day. I’m interested le 3 Link to post Share on other sites More sharing options...
Fastfive1 5th Gear August 5, 2019 Share August 5, 2019 Eh... U one moment say u easily blew $250k on cars, now u say u can only afford to pay cash with a $50k price tag? https://www.mycarforum.com/topic/2713930-goodyear-eagle-f1-asymmetric-5/page-9?hl=goodyear So what is what? Can u make ur mind? And pls.... Ppl calls me Canon King Dun u dare steal my title. I bought my first car at 50K Dumped a ton of cash into it on mods, repairs, etc 30-40K Renewed coe at 45k Total spend is 135K Sold it off at 63K Bought my Z4 sDrive35is at 63K Renewed COE at 40K Fixed wear and tear 5K New paint was 2K Total spend is 110k Total Spent on both cars is around 245K Clearly I didn't spend 250K at one shot. It was accumulated spending on both cars. Link to post Share on other sites More sharing options...
Fu11thr0tt1e Turbocharged August 5, 2019 Share August 5, 2019 (edited) [laugh] Ok, OT a little. Got time go to Lazada and see this https://www.lazada.sg/products/bowers-wilkins-nautilus-the-ultimate-loudspeaker-black-one-pair-i286446089-s459905538.html Read the Q&A. Good read on a lazy day. Can full loan? Edited August 5, 2019 by Fu11thr0tt1e ↡ Advertisement 2 Link to post Share on other sites More sharing options...
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