For vios, if you take 50k loan for 10 yrs, your montly payment
is $540 at 3% interest. So at the end of 10 yrs you actually paid
65k instead of 50k for the car. Thats a huge difference. So try not
to take 10yr loan.
BM do not have restriction on PARF paper ownership, so if you are
buying vios, you can use all the cash you can afford to buy parf
paper on on the open market at a discount, and use the full value
to pay for the car.
Eg.
Suppose you can down 10k cash.
Buy 10k of parf paper from the open market or bros here at x%
discount (2nd hand car dealers are buying in at 6~8% discount). If
you can get it at 5% discount, then you only pay 9.5k for the 10k
parf paper. Savings of $500 upfront.
Your SE can use the full 10k parf paper to pay for coe n ARF.
But check with SE on what is the max amount you can use. My friend
could use almost 2ok for his vois, so he save close to 1k this
way.
