Originally posted by mushigen:
Of course, the best to spend per month on a car is zero,
i.e., don't get a car.
However, if you die die must buy a car, you could:
1) Pay as much downpayment as possible. D/p of 25-30% should ensure
you don't have nightmare every night throughtout the tenure of your
loan.
2) Opt [b]out of the 10-year loan. Opting for 10-year loan
is like digging your grave with a changkul.
Those opting for 10-year loan normally pay very little d/p. This is
akin to digging the grave with an excavator. You had better hope
you don't lose your job or suffer any financial crisis during the
tenure of the loan. This is because you are in a negative-equity
situation. When things get bad, you have to sell your car - and you
have to top-up a neat sum in order to sell it. Your car value will
be lower than the outstanding loan amount!
Paying installments is only one of the difficulties of owning a
car. You have to think abt the cost of parking, fuel, servicing
(which is rather expensive if you opt to go to the agents), and the
occasional "greeting cards" from the authorities.[/b]
Hi
PLs see below the different between 5 years and 7 years loan. So
which one is better ?
Dun forget that there is re-financing service tat the interest rate
is only 1.6% .
Maybe after 1 year of paying, may switch to other bank to get lower
rate . Is there any penalty ? It iz worth ?
