Car for Couples?

bathtub SG

Hello everyone!

My girlfriend and I are intending to get a small OPC car for ourselves, with the willingness to set aside $300pm each for everything ie car installment, petrol,, erp, etc...not considering the annual insurance and road tax. Parking no issue cos can park in hostel Laughing

Do you guys think tis is realistic?

With limited knowledge, Getz seems to be the better choice. Do we have other options? The chelovet aveo hatchback seems to be within budget too, not very sure.

Any opinion guys?

[email protected] SG

Kia Picant or Proton Gen 2

rathcycle SG

honda jazz if u push up ur budget by a little...

5000 post !

gentlerock SG

Hi,

I assume that you're both undergrads.

I do have some comments regarding your suggestions on OPC, etc....but the first and most important thing you have to realise is that if you don't have a job and regular high-enough income, it'll be next to impossible getting a loan at all.

So the first question is: are you able to register the car under another person's name?

BufPuf SG

park in hostel = stay in hostel?

U might wan to ask yrself the need for a car.

Also, planning to get married soon? If not, i don't think is wise to invest together. Skali *touchwood* break liao, how to split siah.

kiss29 SG

I am not going into the crap about additional $$$ that you will need to fork out once your bought the car.
I am sure you will have some spare cash to pay the micellaneous fees like Insurance, reg fees and ownpayment(10% of $30k is only $3k, so I assume no problem for you)

I like your dream to own a OPC with your GF. It will be a liberator for you after lessons and can enjoy travelling with your GF.

Yes...try to get the Getz and get a ten year loan. I will make the monthly installment affordable. When you graduate, and can earn MORE $$$, I am sure you will be upgrading to a nicer car.

So don't be discouraged with the negatives advices that many people will be giving you. Go with you Dream. Just like you chose to Study Universtiy yourself, no one can force you to study or not to study right? I say go with your dreams.....Now it the time to get the cheap OPC....soon when the COE start to be reduced and the COE raises high...you will be banging your balls for not booking the car ASAP,ie NOW.

Garage R SG

chery QQ??? Surprised

pqr SG

10 years loan also means that the amt of interest paid is so much more and u cannot "break even" the car at all

casshern SG

get real. staying in hostel getting a car?

both without income?

i dun mean to be a wet blanket but, its a no-go. owning a car is not as simple as u think

ditzy SG

I'm sure they have the money to get a car, I mean, they can study in uni and afford to stay in hostel. Give them a break man. Laughing

Thailand_Hero SG

If you get into any accident...

you wont have the money to pay the damages. worse if your car is beyond repair...the insurer won't pay the full sum for you and u have to clear the bank loan immediately.

so if u dont have at least $10k set aside after your downpayment and expenses...dont bother buying a car.

Anti_AhSiah SG

10 year loan? The car is a negative equity. Selling the car means paying the bank in cash for the differences. Many people take 10 year loan. They must be dumb.

gentlerock SG

The general rule of thumb is to try to take as short a loan as possible - preferably 3 years. Max. 5 years. Because most people sell their cars after 5 years anyway.

NEVER take a 10 year loan - I know lots of people who get trapped by it. As many people have already said: Financing for a car can be a very tricky trap!

But first, threadstarter, you must realise that when you take a loan, the credit company/bank will ask you for documents showing your income, etc. They must know that you can pay back (logically, they can't loan money to someone without a stable and sufficient income).

bathtub SG

hi guys

hm maybe I can divulge abit about our financial status.

For myself, I am already 'bonded' with my sponsoring company and left 1 more year to graduate. For my gf, she's already graduated for 3years and having a stable income.

Financially, we are able to manage with a small OPC car. Parking in hostel is just a means to save the HDB season parking for 1 year Laughing

Budget wise, we're keeping it low so that we'll still have enough $$ to get married and buy house. But not Chery QQ nor Kelisa la...would like some form of protection should anything happens.

So guys, is Hyundai Getz our only option? Know of any other small cars that fit our budget?

Regards

rathcycle SG

2nd hand cars ?

rathcycle SG

this car is good
fast and cheap

http://www.sgcarmart.com/main/info-20vuNLEY-1000.html Laughing

ceecookie SG

http://www.sgcarmart.com/main/info-2fEW6Cnv-1059.html

this one even better and suave with a few more Ks Laughing

gentlerock SG

Hi again,

Thanks for sharing.

No doubt you are bonded and guaranteed a job. But you see, the first problem still remains. The credit company will ask you for you pay slip....or your CPF contribution for the last 6 months, etc.

Credit companies assigns loans based on what you're earning.....not what you're gonna earn.

I suggest that the best way now is to call up the credit company or car agent, etc....to ask if you are able to take a loan in your position right now.

You might want to know that there have been cases recently where buyers have given a downpayment to reserve his car. Then after he couldn't find a credit company which will give him a loan (although he had a job). He lost his thousands of dollars of deposit.

I know the urge to own a car and I don't mean to burst your bubble.....but some down-to-earth sensibility is very important for cases like these.

gentlerock SG

Read this please:

http://motoring.asiaone.com.sg/articles/O_20050310_002.html

In a single year, 404 people in Singapore complained that they have lost their downpayments for cars.....after being rejected by the credit companies.

rathcycle SG

the 200sx is cheaper la, altou fc and those tax can kill