Advice for buying car

[Ekul]

Hi all. This is my first post in this forum. I am thinking of buying a car, probably a used one. So I would like to check with the experts here whether now is it possible to get a 1.5-2 yrs old used car in the market which cost around 40 - 45k. I also would like to check with you how much do i need to pay for 1st yr insurance.. i am 28 and doing indoor job. my license is less than 1 yr

 

Thanks in advanced....

[Deel]

hmmm 1.5-2 yrs car at 40-45k... why dun u get new... lower interest rate summore...

[Crv2004]

hmmm 1.5-2 yrs car at 40-45k... why dun u get new... lower interest rate summore..

 

 

Nope , it is not a good idea because like that he don't have to loose so much money if he change his car later. Because the car price drop the most the first 3 yrs. So by doing that he will not have bear the most lost of the car.

[Tploh]

Try this website for some price indication ( only indication, still need to nego hard )

 

http://www.sgcarmart.com/main/index.php

[Wbucket]

Advise is to buy new and stay with it for 10 years. I believe by changing car, the loses you made might eventually be about the same. Of course you will enjoy a different car feel. For new buyers, I guess the concern is who to buy from. Which workshop you can trust to help you check the car, things like that.

 

If you have plans to change car soon, why not get a slightly older car? 3-5 years.

 

For your insurance, depending on which insurance company you took up, it might ranges from 2k to 3k, since you are still a P-plate.

[Ekul]

Hi. I am thinking of buying 2nd hand due to the lower depreciation as compared to new car. 1.5-2 yrs as i think the car should still be quite new after 1.5-2 yrs.

 

any car that you recommend? i dont really mind considering small cc car. :)

 

Thanks a lot

 

P/S: did not expect the car insurance could be so expensive!

[Osiris]

what are u going to use the car for? work? fetch kids? self? kao chabo?

need to state more so that we can help u narrow down as your price range many many choice

[Ekul]

Hi. I will mainly use it for work. so looking for something FC good and easy to maintain...

 

Thanks..

[Blackyv]

i believe ~2yrs old vios could be reached with around 50K or lesser and with toyota engine, no worries.....

[Ekul]

Hi, i feel that 50k is over my budget already. 40-45k is better. if can get lower will be great.... but i do agree Toyota car is very reliable!!!

 

thanks...

[Silver_blade]

Have you considered new Kelisa or Picanto? Car loan interest for new car is lower.

[Blackyv]

have a look at this....

 

http://forum.toyotaclubsg.com/viewtopic.ph...5c2209ebc637187

 

someone selling corolla 2003/march at 45K...

[Tploh]

If you intend to keep it for 3-5 years, recommend to consider 3-5 years used car, as they are in the old tax and have higher parf rate ( i.e. higher paper value when you sell ).

 

And since the body for 3-5 years car can only fetch several $K only, you can bargain hard with direct seller for a good buy.

[Swatdila]

want to buy my 2yr 10mth Hyundai accent anot?

[Madix]

have you considered new car? ard 46k for hyundai cars, accent and getz. Or maybe neighbours up north, proton cars? these cars shld be in your range right?

 

New cars have advantage over old cars in that you receive car in stock condition, no need worry that engine has problem or parts need changing, and usually you receive some free servicing for a period of time, depending on dealers. Plus the feeling of new car is definitely different to that of a 2nd hand one. IMHO.

 

bros what's the int rate for 2nd hand car loans? new cars ard 2.5%, some financing companies can offer re-finance as low as 2%, of course with all the fine print.

Edited May 25, 2005 by Madix

[Clawer]

Bro, I send u a pm!

[Ekul]

Hi. actually i am also thinking of Picanto, as most of the time i will be the only one in the car. also picanto FC very good right? the road tax and insurance for big cc cars also very xiong...

 

but the depreciation for new car is really

 

anyway still have not decided, that is why i am here to check with the experts here..

[Shawndlittle]

hi everyone... i read & acquired lots of useful info here.. Thank you all.

 

I read from experienced bros mentioning that it is cheaper to own a used car as they have lower depreciation. So very happily I start looking around for a used Hyundai Matrix (not more than 3 yrs old), but to my disappointment it's depreciation does seems to be as mentioned. In fact it is more economical to buy a new Matrix... maybe my negotiation skill lousy .

 

Let me explain my calculation...

 

New Hyundai Matrix

selling price = $49,999

omv = $12,569

coe = $16,500

depreciation till 10th yr = $4,312 per yr

 

1 of the used Matrix I enquired

selling price = $39,600

omv = $13,302

coe = $28,005

reg date = 16-jan-2003

depreciation till 10th yr = $4,305 per yr

paper value = $32,000

 

By comparing above depreciation I think it is more economical to buy a new Matrix.

Any bros can help to comments?

Also for those experienced bros, could you kind enough to advise how much lower must be the used car depreciation in order for you to consider a reasonable buy?

 

Experienced bros also did mentioned that today situation dealers buy in used car at Paper Value. Looking at the used car price quoted to me, the dealer actually make $7,600 profits? How do you react to this?

 

Thank you all bros for answering in advance... Hv a great day!