Paid the 1st installment

[Guest Icez]

arshavin wrote:

hope in 3 yrs time, wont lose too much money on this new car. cost me 144k...

haven't factor in interest 1.99 x 10 year * $144k...

[Guest chiaster]

which works out to be $172656 total loan quantum and $1438.80 per month but he says it's only $1339 per month??? :shocked:

Icez wrote:

haven't factor in interest 1.99 x 10 year * $144k...

[Guest hkhamateur]

chiaster wrote:

which works out to be $172656 total loan quantum and $1438.80 per month but he says it's only $1339 per month??? :shocked:

:laugh::laugh::laugh:

Two possibility:

1) Maths nt too gd la :Cry:

2) SE give him e final wrong figure. :shocked:

3) downpayment $$ deducted n calculated to lump sum off. :whistle:

[Guest arshavin]

I already say the final installment is after deduction of old car trade in n booking fee deposit

[Guest kai]

:confused:chiaster wrote:

which works out to be $172656 total loan quantum and $1438.80 per month but he says it's only $1339 per month??? :shocked:

Quite a big amount of loan :Cry: Wonder if it would be better to pay off the loan in a shorter period of time to save on the interest incurred? :confused:

[Guest arshavin]

Took 134k bank loan. Discuss this loan issue with friends today too.

[Guest chiaster]

ok, now it all adds up... $160666 total loan amount... $1338.88 per month... :becky:

arshavin wrote:

Took 134k bank loan. Discuss this loan issue with friends today too.

[Guest jhun_4040]

dun talk money la.. very stress those figures. LOL

Talk in nasi bryanis or tea halia can ??

[Guest blackknight]

chiaster wrote:

ok, now it all adds up... $160666 total loan amount... $1338.88 per month... :becky:

This is small amount for chiaster....bigger amount coming in 17 months and 3 weeks later

[Guest Jarebbsg]

blackknight wrote:

This is small amount for chiaster....bigger amount coming in 17 months and 3 weeks later

17 month and 3weeks........

1. Cannot be a baby

2. Cannot be new car

Maybe a house......

Whatever it is, the bigger the commit, the bigger the fun. Congrats.

[Guest jhun_4040]

chiaster wrote:

ok, now it all adds up... $160666 total loan amount... $1338.88 per month... :becky:

37,703 plates of Nasi Bryani from CV

or 133,888 cups of tea hailas

OMG, u can eat for almost 103 years if u eat everyday 1 plate !!!

or 126 years if u drink 3 cups per day !!!

[Guest chiaster]

who says that it's a small amount??? :shocked:

me not rich ok!!! :sad:

blackknight wrote:

This is small amount for chiaster....bigger amount coming in 17 months and 3 weeks later

roof already settled, mate... this amount that i will be incurring is for my wedding... which i hope it won't be so expensive!!! :Cry:

Jarebbsg wrote:

17 month and 3weeks........

1. Cannot be a baby

2. Cannot be new car

Maybe a house......

Whatever it is, the bigger the commit, the bigger the fun. Congrats.

[Guest vt5sport]

9339 wrote:

So some one pay booking fee deposit for you ? Your old car is a FOC from family ?

muz be loaded. $10k booking fee can juz 'disappear' from the books. LOL!

[Guest Wes23]

What are some of you paying for installment? I'm sure most of us are on installment if not all,

For me: took 46k loan for 4/5 years, monthly installment at 867 per

Month. Down quite a bit of my hard saved money, plus a little contributions fro

My lovely parents!!!

[Guest arshavin]

Wes23 wrote:

What are some of you paying for installment? I'm sure most of us are on installment if not all,

For me: took 46k loan for 4/5 years, monthly installment at 867 per

Month. Down quite a bit of my hard saved money, plus a little contributions fro

My lovely parents!!!

Envy good life u. Got parents support.

[Guest Wes23]

Still young ma.. Afterall, their contribution is minimal... Only 20 percent...

[Guest skid]

Motorists taking bigger loans as COE prices surge (ChannelNewsAsia) 27 Oct 2011

SINGAPORE: As car prices rise, motorists in Singapore are chalking up bigger debt on their motor vehicle financing, according to latest figures released by Credit Bureau Singapore (CBS).

The average loan quantum in July 2011 increased by 38 per cent, compared to the same period two years ago.

Motorists now take loans with an average principal amount of $85,105, compared to $61,511 two years ago, and $74,399 a year ago.

Despite the heavier debt commitment, delinquency rates for motor vehicle loans are on the decline.

Only 2.49 per cent of car loan holders had an instalment that was overdue by more than 30 days in July 2011, compared to 2010's figure of 2.65 per cent, indicating that consumers are managing their payments well.

William Lim, Executive Director of CBS, said the figures do not come as a surprise.

He said: "It is unsurprising that loan quantum has surged given that COEs premiums, and consequently car prices have soared in the last two years. At the same time, premium cars have also overtaken mass market brands in sales, and luxury and sports cars have also hit new highs."

CBS' data also show that as a result of high car prices, the demand for new motor vehicle loans continue to fall.

From January to July this year, consumers took up 36,911 car loans, compared to 38,913 and 43,119 in the same period in 2010 and 2009, respectively - these include loans for new and second-hand cars.

The CBS study also further revealed the effects of gender and age on motor vehicle loan trends.

The age group of 40-44 borrowed the highest loan quantum, which stood at $99,411 in July 2011.

Conversely, those aged 21-29 borrowed the lowest loan quantum of $57,857.

Senior consumers above 54 years old bore the heaviest brunt of the steep increase in loan quantum, experiencing the highest increase of 53 per cent in their principle amounts in July 2011 compared to two years ago.

Consumers aged 35-39 made up 19 per cent or almost one-fifth of new car loan holders, making them the top customer segment for these loans, according to the snapshot in July 2011.

Young motorists exhibit the highest delinquency rate of 3.66 per cent, while consumers above 54 years old have the lowest delinquency rate of 2.02 per cent. CBS said the trend is consistent with other loan products.

Male motorists tend to take bigger loans than female motorists. They also make up 75 per cent of new loan holders, outnumbering female loan holders by three to one.

Lui Su Kian, Head of Deposits and Secured Lending, DBS Bank, said: "The average loan amount for car loans with DBS have increased by more than 10 per cent year-on-year. However, affordability remains healthy as customers seeking maximum financing have remained stable.

"As we see more wealth being created in Asia, we have also observed that the financing of cars priced at more than $200,000 have doubled compared to 2010."

CBS said it will continue to monitor the delinquency rate for motor vehicle loans, encouraging motorists to assess the affordability of their car loan carefully and practise responsible borrowing.

[Guest vt5sport]

Wes23 wrote:

Still young ma.. Afterall, their contribution is minimal... Only 20 percent...

lucky u. i wouldn't buy a car, let alone a merc if i needed my parents to help me wif the d/p tho. but that's juz me.

[Guest arshavin]

For me, I only look at CAT A COE cars.

Yearly road tax is cheaper

Car insurance suppose to be cheaper

I know the downside is lower trade in value. That's why I target the best of the group. For example for Honda CAT A COE car, Jazz 1.5L sunroof is the best

For Mercedes Benz, C180K is the current best one. But next yr when B-class new model is out, it will be another story

[Guest hkhamateur]

arshavin wrote:

For me, I only look at CAT A COE cars.

Yearly road tax is cheaper

Car insurance suppose to be cheaper

I know the downside is lower trade in value. That's why I target the best of the group. For example for Honda CAT A COE car, Jazz 1.5L sunroof is the best

For Mercedes Benz, C180K is the current best one. But next yr when B-class new model is out, it will be another story

E all new B Class is nicz... n bigger liao! :becky:

Lots of diff fm current made! :music:

news fm German automotive show 'Drive it'

We'll see! :shocked:

[Guest arshavin]

C180K is the cheapest model inside C-class and is a COE CAT A car. In terms of value, difficult to make a direct comparison with 180CGI and other C-class models

[Guest grey3443]

Wes23 wrote:

What are some of you paying for installment? I'm sure most of us are on installment if not all,

For me: took 46k loan for 4/5 years, monthly installment at 867 per

Month. Down quite a bit of my hard saved money, plus a little contributions fro

My lovely parents!!!

Lucky you....I have to support myself and mine is x2 of your loan and installment. What's yr net price after deduction of all overtrade, discount, service credit..etc?

[Guest arshavin]

grey3443 wrote:

Lucky you....I have to support myself and mine is x2 of your loan and installment. What's yr net price after deduction of all overtrade, discount, service credit..etc?

look like mr greay bro has bargined himself a very good trade in price for his old car

[Guest grey3443]

arshavin wrote:

look like mr greay bro has bargined himself a very good trade in price for his old car

It is all in the head...but we still like to check if we have the best deal.:bounce:

[Guest arshavin]

grey3443 wrote:

It is all in the head...but we still like to check if we have the best deal.:bounce:

Most important the next time when we change car, we can go change together. Better bargaining power