Help!!

[Venuswxy]

But my job requirement to have a car is a must. That is why. Anyway, my manager told me sfter probhation there is an increment. All that u mentioned I have tot thru it before deciding to get myself Colt or Jazz.

[Venuswxy]

Can anyone calculate the break-even point for the Jazz suppose I take up a loan of $50k from bank? Thank you!

Edited July 1, 2005 by Venuswxy

[Emkay]

If you take the Jazz @ 48.5K full loan @ 3% for 7 years

your monthly payment will be $698.63 and you pay the first installment on Aug 2005.

 

By December 2008, your Jazz paper value will be $26,975.

And by this time, you would have paid 40 installment or:

 

$698.93 x 40 = $27,957.20

 

If you redeem by this time you would have a few thousands dollars interest rebate so I would safely say your break-even point is on or before December 2008.

 

Emkay

[Venuswxy]

That is not so bad. But I am taking $50k loan, overloan.

[Emkay]

If possible try not to do that.

 

Cos 3 years down the road you'll be so tempting to change your car (like most of us ). You may want to have some residue value from this car for your next car's installment.

 

Also, remember to check the interest panalty .. i.e. will there be any panalty if you sell your car before the loan matured.

 

I'm also looking for a car to replaced my 3.5 years old lancer (itchy ) .. may be i go look for a colt

 

Emkay

[Wankie]

3 yrs?