Jump to content
ferrytales

Why you should NEVER do $0 driveaway or 10 years loan

Recommended Posts

Hypersonic
2 minutes ago, ferrytales said:

thats why i used the $6.5k depre + 5k token sum from dealer + parf of $2.5k as a calculation but in actual fact, its even lower. 

If people sell to me

I guarantee it will be a lot lower.

:grin:

Chop, sign guarantee.

↡ Advertisement
  • Haha! 2

Share this post


Link to post
Share on other sites
Turbocharged
2 hours ago, Mkl22 said:

But many still want to buy cars they desire with high loans and minimal down payment. let people do what they want. All adults. 

Yes, let them commit financial suicide. No one force them to walk into the dealership and sign on the dotted line.

 

  • Praise 2

Share this post


Link to post
Share on other sites
Turbocharged
5 hours ago, Hamburger said:

Saying is easy but to be prudent really takes discipline. 

 

I love the gen 4 sorento and I could afford it by taking up a 50k loan. 

But decided to just buy a few years old gen 3/ with AD warranty with cash and be debt free. 

That feeling outweighs the thrill of driving a new car for me. 

But that's just me and not for anyone. 

I took loan even though can full cash because the finance rebate let me put the proceeds from the loan into a FD that earned me a few hundred dollars more at the end of the loan lock out period. 
 

But if you need a loan to afford the car you want then you must really consider the stability of your income.

Share this post


Link to post
Share on other sites
4th Gear

Taking a loan is fine esp with the low i/r now with some ADs offering 1.88%. 

The problem is over leveraging and getting burnt in the end. 

Share this post


Link to post
Share on other sites
Hypersonic

TS started a thread to tell us cars are expensive in Singapore.

Who knew?

:grin:

What next? He will start a thread to tell us housing is also sibei expensive?

Why don't he tell us something we don't know?

Singapore has the world's Most Expensive Vending Machine.

 

  • Haha! 1

Share this post


Link to post
Share on other sites
5th Gear
58 minutes ago, Macrosszero said:

I took loan even though can full cash because the finance rebate let me put the proceeds from the loan into a FD that earned me a few hundred dollars more at the end of the loan lock out period. 
 

But if you need a loan to afford the car you want then you must really consider the stability of your income.

Bro, with this logic, the whole of singapore must really consider the stability of our incomes before getting a house. 

  • Haha! 1

Share this post


Link to post
Share on other sites
Turbocharged
39 minutes ago, thebutcher said:

Bro, with this logic, the whole of singapore must really consider the stability of our incomes before getting a house. 

Curious to why you equate car loan being similar to a housing loan? 

Share this post


Link to post
Share on other sites

5th Gear
3 minutes ago, Mkl22 said:

Curious to why you equate car loan being similar to a housing loan? 

Nothing wrong in getting a car loan if he/she can service the payments. 

Same like housing. 

  • Praise 1

Share this post


Link to post
Share on other sites
Turbocharged
15 minutes ago, thebutcher said:

Nothing wrong in getting a car loan if he/she can service the payments. 

Same like housing. 

 

tenor.gif?itemid=12591824

  • Praise 2
  • Haha! 1

Share this post


Link to post
Share on other sites
Turbocharged
26 minutes ago, thebutcher said:

Nothing wrong in getting a car loan if he/she can service the payments. 

Same like housing. 

I would assume that you are not from the financial industry? 

Share this post


Link to post
Share on other sites
Turbocharged
2 hours ago, Jamesc said:

TS started a thread to tell us cars are expensive in Singapore.

Who knew?

:grin:

What next? He will start a thread to tell us housing is also sibei expensive?

Why don't he tell us something we don't know?

Singapore has the world's Most Expensive Vending Machine.

 

Autobahn Motors used to be known to sell single ownership cars when they were located at Newton. Wonder if this legacy is still continued at the new premise?

Share this post


Link to post
Share on other sites
Supercharged

Its true about housing and cars in Singapore.

I dare say that when property owning ability is achieved, owning a car is doable.

Going the other way around, car then property is not wise. Even for property owners.

Preferably more than one property then get a car would be better route.

 

Share this post


Link to post
Share on other sites
Twincharged (edited)
21 minutes ago, Vinceng said:

Autobahn Motors used to be known to sell single ownership cars when they were located at Newton. Wonder if this legacy is still continued at the new premise?

the cars they are selling are rich men toys,  they cant be single ownership, more likely 3,4,5, 6 if not  more. 

Edited by Ct3833

Share this post


Link to post
Share on other sites
3rd Gear

Gents, I think let's not forget that many people these days get a new car, and then.... "slap on" the PHV label and voila! - you have it - a car that "pays for itself"!

Wow! Now all I gotta do is head out and pick up a few fares by driving for a few hours each day after dinner with the family...! And I can own a Merc/Audi/BMW! Just, wow!

  • Haha! 5

Share this post


Link to post
Share on other sites
Turbocharged

Actually there’s a life hack I want to share with you all. It’s called - SAVINGS

Example you want to buy the current Corolla Altis today but found out you don’t have much cash to deposit and you don’t want to take huge loan although you can well afford the installment. I’d suggest start saving for the next 3 years to get that next generation of Altis. Applicable to first time car buyer who just started work.

Dont be stupid take $0 drive away 10years loan. 

  • Praise 3

Share this post


Link to post
Share on other sites
Turbocharged
20 minutes ago, Zxcvb said:

Actually there’s a life hack I want to share with you all. It’s called - SAVINGS

Example you want to buy the current Corolla Altis today but found out you don’t have much cash to deposit and you don’t want to take huge loan although you can well afford the installment. I’d suggest start saving for the next 3 years to get that next generation of Altis. Applicable to first time car buyer who just started work.

Dont be stupid take $0 drive away 10years loan. 

No ah. I can service the installments so I can afford it

Don't look down on me

People can see what I can drive but they can't see how big my liabilities are!

  • Haha! 5

Share this post


Link to post
Share on other sites
Turbocharged (edited)
26 minutes ago, Zxcvb said:

.

Dont be stupid take $0 drive away 10years loan. 

It’s YOLO for some. To them saving 3 years is stupid. 
Banks need people to take loans. Else how they survive. So we need to appreciate people contributing to making the economy hum along. 😂

Edited by Mkl22
  • Haha! 2

Share this post


Link to post
Share on other sites
Supersonic
20 minutes ago, Mkl22 said:

It’s YOLO for some. To them saving 3 years is stupid. 
Banks need people to take loans. Else how they survive. So we need to appreciate people contributing to making the economy hum along. 😂

Yah this year $0 driveaway corolla

 

3 yrs later he can buy new c class $0 driveaway 🤣

↡ Advertisement

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×