need a bit of help here

woodlandsHool SG

need a bit of help here ....

my brother bought a 1997 SiR in 2001 for about $60k++

still got about 2 years left ... roughly still own about $20k+ .mthly instalment $870/=

cause the instalment very siong , i suggest him to change to honda jazz/fit

do u think if we trade in for a 2nd hand honda jazz/fit , do we still hv to fork out alot of money

cause i calculate if a 2 years old honda jazz/fit $60k+ loan 8 years , downpay about $5000 mthly is about $600+ which i think still manageable then the current SiR

shall we trade in the SiR or sell off the SiR and get the honda jazz ?

or both way also cannot cause hv to fork out quite a large sum of money ..

Praetorian111 SG

You can go to one motoring website key in the i/c number and car plate number. You will be given the amt that remains when you scrap your car.
It may helps in calculating the amount that you can trade or when you sell the car.

woodlandsHool SG

can u link me directly cause alot of options there … not sure which one … thanks bro~

nick34 SG

2nd hand Jazz is at about 55k-60k ... try sourcing out for better deals before you sign on the dot Wink

View as many Jazzs as possible and you will be able to get a better deal

woodlandsHool SG

i’m sorry … a 2years old jazz/fit should be around 52k-56k … my error .. so is it a wise choice to get rid that SiR cause i afraid we hv to pay more instead cause we r still owning loans to bank … cause what we cannot tahan is the mthly instalment of the SiR which amount to $870/= while a 5k downpay on a honda jazz/fit will only cost about $620-650 mthly … SiR can run no doubt , but it’s time we take the cost mthly and fc in consideration because of our financial burden …. it’s either we get a honda jazz/fit or endure with the SiR till 2007 when we eventually scrap and get back the parf value money

woodlandsHool SG

any opinion….........

huoye SG

got a better idea for u. buy a cheaper car lor…............and a 2nd hand jazz can be cheaper…...if u have the contacts…......also hor is ur SiR a Manual or Auto and wads the paper value of the vehicle…. i may be interested in ur vehicle if it is a manual…...............

woodlandsHool SG

actually we intended to get a 2nd hand jazz/fit , what worry us is whether we hv to fork out a sum of money a not cause we still own the bank 2 yrs of loans

wbucket SG

Looks like a close to 100 percentage loan to me for the SiR. Might have to fork out about 5k if you trade-in. Selling it off as 2nd-hand might bring you closer to clearing your debt.

If you intend to full loan again for jazz, I suggest you get a new one. Interest rate would be much cheaper. S$66k-S$5k = S$61k. 10 years loan might bring you about S$700 monthly installment.

woodlandsHool SG

okie ... let's say we dun intend to buy a car after we sell off the SiR , as this situation .. if we sell roughly u guys think we will still need to fork out a sum of money if we sell the car .?

as below

bought the 1997 SiR in 2001 for $68000

downpay that time $10k and monthly $870

now still 2 more years to scrap in 2007

still own bank loans till the scrap date ...

do u think if we sell off this car now .. we still hv to fork out a sum of money ? if that is the case then we will endure till the scrap date cause at least we get a sum of $10k++ back as parf .

huoye SG

u will not get cash back…...wad u get is the paper rebate dat facilites u getting another car….the rebate will be valid for a year….......and since lidat….and i dun think u haf much loan left…wad u can do is call ur bank to ask for the outstanding….......