hi.
opc ins is cheaper by abt 10 to 15% (a rough guide)
mthly instalment depends how much loan u tke for the car, plus any
dwnpayment.
usually 2nd hand car cant tke full loan yrs ie, 10yrs. so usually
sometimes mthly can be high which is reasonable for u to buy a new
car. but then brk even for 2nd car is faster.
say if u tke a loan of 5yrs. mayb ard 2nd yr u can more or less chg
car.
say u tke full loan and a loan yrs of 5yrs.
picanto opc selling $19k.
interest rate 4%/yr
19000x4%=$760/yr x 5= $3800 (total interest payable for 5yrs)
total car cost (meaning loan taken) $19000+$3800= $22800
mthly instalment = 22800/5yrs = $380
---
opc rd tax $50
yrly insurance $1900 (assuming less than 1 yr driving exp, under
25yrs old)
1st mth instalment $380
how to knw if u can qualify for the bank loan.
tke ur mthly instalment multiply by 4(times of ur pay)
u must earn at least that amt to get loan.
i hope it helps.
thou a bit messy and lack of info.
: )
