Break Even

[Bsbs]

If everyone is like you then there is no need for coe and erp liao but unfortunately not everyone can be like you.....me for one[bigcry] 4.5 yrs more to be slave to the bank.

[Speedsun]

Only the current car I am driving was already breakeven once I drove out of the showroom. I did put in more downpayment as I have not had enough confidence to generate more money from other investments than paying interest to the bank.

[Chrispie]

http://www.xxxxxxx.com/pdb/selectcar.php?funcid=5

 

if link fails, go to www.xxxxxxx.com, then car guide, then car loan calculator..

[Ahyoo2002]

People always talk about break even and change car every 3 yrs.

To calculate it, take 60%-70%, 7 yrs loan.

Eg.

car = $60k

Deposit = 20k

Loan = 40k

Monthly = 570 (include interest) 7 yrs loan

 

Balance 4yrs = $27360

Scrap price for a 3 yr old car worth 60k on the average is 30k

 

$30k - $27360 = $2460 (break even or gain back rebates)

 

The damage for 3 years usage = $60k - $27360 = > $30k

[Drumstick]

well.. the 30k will have to be taken as though you are paying rental for the car.

No choice if u wanna buy a car.

Different cars and price varies...

 

Dun forget, as a car owner, we already lost 5 - 10% on first day of collection of car.

This lost is mainly due to sales commission and profit from the seller. Coz when we sell a car, it's base on paper value+COE+body value.

 

A typical 1.6jap car depreciate at between 4.2k - 6k per year.

 

In order to minimize loss, its not advisable to take a huge loan as the interest can kill. On the average the interest is going to be 15k for a 10 yr full loan package.

Instead of buying a car at 60k, it will be 75k.

Which is y the rich is becoming richer..they make full payment..no need pay interest. The amt save go for better investment to earn back the $$....

[Ahyoo2002]

Rent a Jap car at $10k a year, loan interest not inclusive yet

[Lyjj]

Hi,

 

I had taken 10 yrs loan for my current car, this is my 4th years and if I sell still require to cough out 9-10K depending on the car price, yes, 5-6 years to break-even !!

[Sktan10]

Yes!

Some 15k go to the bank for interest for 10yr loan.

Some 15k go to the dealer profit.

So either way,we still loss.

[Throttle2]

exactly, there really is no "Breakeven"

 

a car is an expense is an expense is an expense.

 

it is not an investment where you can truly breakeven.

 

you simply lose more or lose less

but whatever it is, as car buyers, we lose...............