Staticx Neutral Newbie April 6, 2008 Share April 6, 2008 Hi guys, yesterday I went to Bedok with my parent, as there were road show by some PI car dealer, was quoted that the Honda Fit 08 can clock 20km/l Then later on, the SA told my dad that he advise us to take on 3.5% instead of 2.5% reason being, if we get the 3.5%, there will be a rebate while 2.5% no rebate. If we calculated with rebate, the 3.5% would be cheaper. Is that true ? If yes, what's the pros and cons for getting 3.5% than a 2.5% ? Thanks ↡ Advertisement Link to post Share on other sites More sharing options...
Heartbroken Neutral Newbie April 6, 2008 Share April 6, 2008 yes its true... im keen to get the fit 08 too... its cheaper becos of the cash rebate then ur given due to the promotion but the downside is that u will be tie down for 5 yrs and the early repayment penalty will be higher.. Link to post Share on other sites More sharing options...
Showtime Neutral Newbie April 6, 2008 Share April 6, 2008 it really depends on how much rebate you get isn't it? it you quote some figures, perhaps other forum may be able to contribute their opinions? Link to post Share on other sites More sharing options...
Showtime Neutral Newbie April 6, 2008 Share April 6, 2008 anyway don't think you can get 20km/l based on realistic driving conditions. that having being said, the fit is known for excellent fuel economy. Link to post Share on other sites More sharing options...
Nighthawkcity 1st Gear April 6, 2008 Share April 6, 2008 i counted before.. that is only if you hold the car to the full car loan.. meaning no early redemption.. correct me if I am wrong.. Link to post Share on other sites More sharing options...
Staticx Neutral Newbie April 6, 2008 Author Share April 6, 2008 Yea, he did calculate 2.5% and 3.5% based on 60k for the price of Fit 08, and showed my dad. If let's say i decided to change a new ride after 4~5yrs, is it worth getting the rebate ? Sorry cos i'm not very good in calculating loans Link to post Share on other sites More sharing options...
Jl1500k Clutched April 6, 2008 Share April 6, 2008 (edited) Maybe you can calculate with rebate 3.5% interest with 10K down payment and 10 years loan is how much. Same for 2.5% without rebate with 10K down payment with 10 years loan base on the cost of the car is 60K. You will see the figure different lor. With rebate usually come with term and condition. There is penalty if you sell away or change ride within 5 years you need to pay them back base on pro-rated the rebate you had received earlier. Edited April 6, 2008 by Jl1500k Link to post Share on other sites More sharing options...
Frozebite Neutral Newbie April 6, 2008 Share April 6, 2008 Yes it is worth it Link to post Share on other sites More sharing options...
Picanto 3rd Gear April 6, 2008 Share April 6, 2008 what bank is that? Link to post Share on other sites More sharing options...
Throttle2 Supersonic April 6, 2008 Share April 6, 2008 Hi guys, yesterday I went to Bedok with my parent, as there were road show by some PI car dealer, was quoted that the Honda Fit 08 can clock 20km/l Then later on, the SA told my dad that he advise us to take on 3.5% instead of 2.5% reason being, if we get the 3.5%, there will be a rebate while 2.5% no rebate. If we calculated with rebate, the 3.5% would be cheaper. Is that true ? If yes, what's the pros and cons for getting 3.5% than a 2.5% ? Thanks the higher interest with rebate may bind you to a longer loan tenure. work out the difference then compare and choose Link to post Share on other sites More sharing options...
Staticx Neutral Newbie April 6, 2008 Author Share April 6, 2008 OCBC. Like i mention earlier just now, intend not to change ride between up to 4th yr, and if there is penalty, how much or rather how would they calculate it ? Link to post Share on other sites More sharing options...
Eyke Supercharged April 6, 2008 Share April 6, 2008 If yes, what's the pros and cons for getting 3.5% than a 2.5% ? You should provide more details first: rebate %, min loan tenure, etc. Link to post Share on other sites More sharing options...
Staticx Neutral Newbie April 6, 2008 Author Share April 6, 2008 Not too sure exactly is it 30% as i heard yesterday, and as for min loan, din really ask as i were just talking to my mom bout the boot space between SSS and Fit 08 Link to post Share on other sites More sharing options...
Redwood Neutral Newbie April 6, 2008 Share April 6, 2008 30%!!! Got the phone number to the PI? Link to post Share on other sites More sharing options...
Ahyoo2002 2nd Gear April 6, 2008 Share April 6, 2008 Hi guys, yesterday I went to Bedok with my parent, as there were road show by some PI car dealer, was quoted that the Honda Fit 08 can clock 20km/l Then later on, the SA told my dad that he advise us to take on 3.5% instead of 2.5% reason being, if we get the 3.5%, there will be a rebate while 2.5% no rebate. If we calculated with rebate, the 3.5% would be cheaper. Is that true ? If yes, what's the pros and cons for getting 3.5% than a 2.5% ? Thanks If rebate is 30%, 3.5% X 0.7 = 2.45%. I think better that you get the 2.5% one, you sure loss even more as long as you did not finish the loan before you change again. Link to post Share on other sites More sharing options...
Beavc Clutched April 6, 2008 Share April 6, 2008 Hi guys, yesterday I went to Bedok with my parent, as there were road show by some PI car dealer, was quoted that the Honda Fit 08 can clock 20km/l Then later on, the SA told my dad that he advise us to take on 3.5% instead of 2.5% reason being, if we get the 3.5%, there will be a rebate while 2.5% no rebate. If we calculated with rebate, the 3.5% would be cheaper. Is that true ? If yes, what's the pros and cons for getting 3.5% than a 2.5% ? Thanks I suggest you not take the rebate. I took a rebate from HL and have to sell the car after 3 years to avoid paying them the full rebate. After 3 years will be pro rated....so my advise is DON'T take! unless the T&C is different Link to post Share on other sites More sharing options...
Staticx Neutral Newbie April 6, 2008 Author Share April 6, 2008 How bout i sell the car ard 3yrs like you ? Does it more worth that way if i dun keep it for 4~5yrs ? Link to post Share on other sites More sharing options...
Jl1500k Clutched April 6, 2008 Share April 6, 2008 then better get one experience car owner to go with you since you are new and first time car buyer. You must know what to ask especially when taking the rebate option. Later the PI see you green green sure con you to take this take that The best don't conmmit and sign on the spot if not sure, go back seek for advise with someone to discuss. Alot of first timer go car show room blur blur kena also dun know ↡ Advertisement Link to post Share on other sites More sharing options...
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