Question regarding car

jerry34 SG

Hi guys,

I got some question, hope someone can help me with this.

Recently, I just brought a weekend car (less den a month) and oso got an loan from the bank. But now I am having second throught already. As I feel it more than a burden. my question now is, can I return or sell back the car to the wholeseller so that I dont have to pay the Bank Loan. Is there anyway to for it.

Hope you guy can help me out wif it. thanks

best regards,
Jerry Embarassed

kenn3th SG

aiyoo.. why did u buy a weekend car.. Confused sell also nt much and i don't think u can return it..

social87 SG

wad car did u buy dude?

how much did ya pay for it?

jerry34 SG

the model of the car is Chevrolet – Aveo Hatchback. n I loan from bank abt 39k. or was it possbile tat if i transfer the car ownership to someone who is interested den will the loan be transfer to tat person oso?

tofushop193 SG

y are u so impulsive sia

n0x SG

u is army regular???

fondue SG

To transfer car to someone else is akin to selling, cos the loan is not transferable. Be prepared to top up cash to clear the loan when you sell the car.

But 39k seems too ex for a OPC Aveo ... care to share the loan details, any cash back , etc ?

jerry34 SG

mmm it come wif 5mths free installment without cash rebate. so is there any way to minuim the my cost when resell back or watever? please advise.

L3nn SG

Sad to tell u the truth....theres no way u can escape already....

Even ur cousin or whoever wanna take over...they will have to take the new loan from the bank you current loaning.. then the bank will minus ur paper & car value from ur 39k but you got to pay the penalties for breaching the loan contract and interest of the 39k that you got to pay the bank after 10years.. so end up you still owe the bank money but you got no car to drive... not worth it la.. unless someone pay ur installments for u but that person drive...approach ur relatives but OPC is damn troublesome somemore...

My advise..keep ur car... rent ur car out during weekends.. sat and sun.. should let you earn at least 100+... depends on ur insurance type also..

My friend same shoes as u but now he not working and shaking at home getting money... at 1st he bought an integra (non-opc) then he kana sack... he rent out integra monthly basis... then he bought another car to rent out also... now he got 3 cars.. 1 under dad , mum and himself.. he driving 1 car himself while 2 cars out for rent.... anyone wanna rent integra or impreza wrx can find him.. pm if you interested lol...he driving picanto for your info lol...