Jump to content

how to apply car loan for direct owner purchase?


Defcon
 Share

Recommended Posts

anyone can shed some info on this? given the car is 120k. i need to loan ard 70-80k. how to do so for direct purchase?

↡ Advertisement
Link to post
Share on other sites

9 minutes ago, Defcon said:

@Ody_2004 the purpose of a forum is to seek info from people with past experience. what wrong with asking a question here

Err.... Isn't that what Ody_2004 is providing? To get car loan as a direct owner, you go directly to the bank. Instead of the AD (which basically tie up with the bank) to facilitate and provide a one stop service for you when you buy new, you are essentially still borrowing from the bank.

I guess the question is more of when the car is still under loan when the seller needs to settle the loan ( I am guessing cos it is not clear in your question). Then you can go thru a third party service (such as the one provided by sgcarmart) to settle the transaction. Eventually, you are still borrowing from the bank or a financial institution.

  • Praise 3
Link to post
Share on other sites

2 minutes ago, Hosaybo said:

I guess the question is more of when the car is still under loan when the seller needs to settle the loan ( I am guessing cos it is not clear in your question). Then you can go thru a third party service (such as the one provided by sgcarmart) to settle the transaction. Eventually, you are still borrowing from the bank or a financial institution.

Alternatively find out which bank the seller is using and try to get a bridging loan from it. Save some hassle loh..

best if seller can clear the loan then be easier

Link to post
Share on other sites

In this climate with ridiculous COE prices and all the trickle down effects, I sincerely hope the car is an absolute "need" and not a "want" in your case. Good luck. 

  • Praise 4
Link to post
Share on other sites

1 hour ago, Defcon said:

@Ody_2004 the purpose of a forum is to seek info from people with past experience. what wrong with asking a question here

Do ask banks. I tink thats the most straight forward way to go about.

Maybank. Dbs. Etc. Banks that provide car loans the proper way.

 

Cheers

  • Praise 1
Link to post
Share on other sites

5 minutes ago, Spurman said:

Do ask banks. I tink thats the most straight forward way to go about.

Maybank. Dbs. Etc. Banks that provide car loans the proper way.

 

Cheers

Yup. With No middle man, no extra admin fee or whatever bulls**t fee. 

  • Praise 2
Link to post
Share on other sites

4 minutes ago, Mkl22 said:

Yup. With No middle man, no extra admin fee or whatever bulls**t fee. 

For corporate or personal same procedure with business requiring 3 mths or 6 of bank records. Etc. Biz roc. Etc.

Insurance would be higher usually though. Ncd max 20par

Link to post
Share on other sites

1 hour ago, Turboflat4 said:

In this climate with ridiculous COE prices and all the trickle down effects, I sincerely hope the car is an absolute "need" and not a "want" in your case. Good luck. 

thanks for the concern. i am already driving a car now. planning to downgrade to an older car (oh who can resist Fd2r) which caught my eye

  • Praise 1
Link to post
Share on other sites

No offence to TS 

 

It is a bit difficult to find the right answer here cos most Dai Gor here all full cash one

 

thats why I dare not ask about installment loan rental etc 

 

PS. me ultra tiny fry 🤐🤐🤐 with 2 cents worth of ron 92 

  • Praise 1
  • Haha! 6
Link to post
Share on other sites

2 hours ago, Defcon said:

@Ody_2004 the purpose of a forum is to seek info from people with past experience. what wrong with asking a question here

Someone has given you the way to go, exactly what you’re asking and you’re being snippy?

  • Praise 8
Link to post
Share on other sites

4 hours ago, Ody_2004 said:

How about making a trip to the bank sound to you?

Simi bank? I suggest PM sifu T2 if ever need to borrow $$. Heard Warren Buffet oso PM him

  • Haha! 1
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
 Share

×
×
  • Create New...