Yeshe Turbocharged March 7, 2013 Share March 7, 2013 With the recent loan regulations by MAS on cars, there have been alot of debate. It would be good to see the statistics how much are really affected based on MCF pool of people ( although alot rich people ) the poll will be based on the car you intend or think of buying before the loan regulation and with the new regulation, how much DP can you AFFORD to down? eg, if person A intends to buy an Altis, 100k, then his DP% will be based on 100k. if B intends to buy a super car at 1mil, then his DP% will be based on 1mil. ↡ Advertisement Link to post Share on other sites More sharing options...
Watwheels Supersonic March 7, 2013 Share March 7, 2013 (edited) I was thinking, even if some ppl can easily put 50% dp, are they willing to commit so much cash at once? I'm not talking about cash rich ppl who is able to pay full amount. I'm talking about those who have cash on standby just in case when they really need to use. Or to put it simply to play safe. I still prefer 30%dp and loan 70%. Feels more financially secure to have some money around just in case. Edited March 7, 2013 by Watwheels Link to post Share on other sites More sharing options...
Timex1441 1st Gear March 7, 2013 Share March 7, 2013 i think ur question shld state whether the trade-in value of existing car is included into the down payment. Link to post Share on other sites More sharing options...
Yeshe Turbocharged March 7, 2013 Author Share March 7, 2013 i think ur question shld state whether the trade-in value of existing car is included into the down payment. yes of course the DP would include anything one would decide to get cash from, be it car trade in, sell houses, shares, other assets. bottomline is he would do it for the sake of getting that car. no point selling everything just to get a supercar? Link to post Share on other sites More sharing options...
Yeshe Turbocharged March 7, 2013 Author Share March 7, 2013 I was thinking, even if some ppl can easily put 50% dp, are they willing to commit so much cash at once? I'm not talking about cash rich ppl who is able to pay full amount. I'm talking about those who have cash on standby just in case when they really need to use. Or to put it simply to play safe. I still prefer 30%dp and loan 70%. Feels more financially secure to have some money around just in case. tats correct, so its really up to individual, even if u have say 100k in cash, but only willing to DP 50k max and keep 50k for other emergencies Link to post Share on other sites More sharing options...
S4vtec 3rd Gear March 7, 2013 Share March 7, 2013 i would think a lot of forummers easily have the cash to put the downpayment for a 120k car. but the question is would he? Link to post Share on other sites More sharing options...
Nzy Twincharged March 7, 2013 Share March 7, 2013 I guess many will be willing to put all their savings into the DP. If not in the past why so many take full loan just to own a car? I feel many are willing to sacrifice alot of things just to be able to get a car. Link to post Share on other sites More sharing options...
Yeshe Turbocharged March 7, 2013 Author Share March 7, 2013 Wah.. quite a sizeable will.pay full cash. interested to know those pay full cash is buying wat car Link to post Share on other sites More sharing options...
Toothiewabbit Supersonic March 7, 2013 Share March 7, 2013 Wah.. quite a sizeable will.pay full cash. interested to know those pay full cash is buying wat car err...geely ck opc? Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged March 7, 2013 Share March 7, 2013 my thinking is abit different.. i work backwards.... i will see how much cash i can afford and based on this amount, i then see what cars are available to me... Link to post Share on other sites More sharing options...
Nzy Twincharged March 7, 2013 Share March 7, 2013 Wah.. quite a sizeable will.pay full cash. interested to know those pay full cash is buying wat car I pay full cash. But just a cheap hyundai. My family don't believe in taking loan. Had to get a cheap car cuz I didn't want to use more than 20% of my cash for the car. Link to post Share on other sites More sharing options...
Nzy Twincharged March 7, 2013 Share March 7, 2013 my thinking is abit different.. i work backwards.... i will see how much cash i can afford and based on this amount, i then see what cars are available to me... Thats the way I do it too. I only willing to use up to 20% of my savings and I don't want to take a loan. So thats my budget for the car. Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged March 7, 2013 Share March 7, 2013 Thats the way I do it too. I only willing to use up to 20% of my savings and I don't want to take a loan. So thats my budget for the car. ya... and usually can get something decent.. Link to post Share on other sites More sharing options...
Yeshe Turbocharged March 7, 2013 Author Share March 7, 2013 I pay full cash. But just a cheap hyundai. My family don't believe in taking loan. Had to get a cheap car cuz I didn't want to use more than 20% of my cash for the car. Tat is a very logical n prudent way Link to post Share on other sites More sharing options...
Benarsenal Turbocharged March 7, 2013 Share March 7, 2013 my thinking is abit different.. i work backwards.... i will see how much cash i can afford and based on this amount, i then see what cars are available to me... Same. I mean, we all have our dream cars and all, but cannot afford means cannot afford what. Why go through much suffering for it? Just live within your means lor. ↡ Advertisement Link to post Share on other sites More sharing options...
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