Which Car Are You Driving Now?

[applefreak 1]

aiyo, then might as well get the basic version voyager

i'm really captivated by their ad where they fold all the seats away

wow

[Chunky Monkey 2]

This is the one thing I can never comprehend about SG. So many people are driven (sorry the pun) to own the newest car and take on car loans that are literally liken to having a noose tied around their necks and they drown in monthly installments.

Isn't it very sad that you still perhaps have a study loan to clear, and on top of that take a home loan, reno loan, and now even car loan? One should not live on credit to get a lifestyle. Spend only what you can afford and make choices to help yourselves to be loan free.

I can literally use ONE credit card to buy a Lexus SUV or a Volve XC90. But do I do that? No. I bought a second hand MPV that I intend to let it run its course till it goes kapoot. 15K depreciation a year is all I can stomach. Losing anymore is plain stupidity, to be honest. You can never get rich living beyond your means, and have nothing left in your kitty when you are old. And it's no one's fault but your own.

[applefreak 1]

15K depreciation! that quite a lot ain't it?

assuming the voyager cost $100k, that's only $10k a year...

and one credit card to buy a car, that would mean you either earn $100k a month, or the card is tied to a very FAT bank account

but guess if we dun have a lot of loans and can probably pay at least 30-50% of the car price upfront, there's no harm buying a nicer car

that's why i give myself five years to save up for a nice car

rather than settle for something else...

[Chunky Monkey 2]

Like I said, 15K is *all* I can stomach and anything less is much appreciated.

Trying to be a sleuth, applefreak?

Saving up for a car and paying in cash. That is great priority. Saving up for 5 years, so you can get a *bigger*, nicer = more expensive?? car is not wise.

In auto loans, interest is calculated based on annual res. So customers pay alot of interest despite the loan on a monthly reducing basis.

[applefreak 1]

no lah, saving up so that i can afford at least 30%, if possible 50% of the car price loh

now can't afford 30% of any car, except my two 'kars' (as in legs)

cannot bring myself to take any loan that'll last more than 4 yrs (home loan is the only exception)

my aim is a hybrid, if possible without ka chng

yes, i've heard loads about this dun-know-what 7 rule

that's why the less car loan one takes, the better off one will be

over 5% a year is not what i can stomach

[GMC 12]

actually the basic voyager is not really very expensive

think it's at $100k.

it's more expensive than most japanese car but for a chrysler that capacity

is consider reasonable liao

but the FC is not very good

Buy it used.!

BTW, the vehicle is not expensive, the taxes are.

[ARCHer 0]

and one credit card to buy a car, that would mean you either earn $100k a month, or the card is tied to a very FAT bank account

You are not going to use the credit card to pay for the car fully, right? Assuming you take 90% financing, on a $100k car, your credit card only need to have a credit limit of $10k. Since the maximum credit limit cannot exceed 2 months' income, that means you only need to earn $5k a month.

[GMC 12]

This is the one thing I can never comprehend about SG. So many people are driven (sorry the pun) to own the newest car and take on car loans that are literally liken to having a noose tied around their necks and they drown in monthly installments.

Isn't it very sad that you still perhaps have a study loan to clear, and on top of that take a home loan, reno loan, and now even car loan? One should not live on credit to get a lifestyle. Spend only what you can afford and make choices to help yourselves to be loan free.

I can literally use ONE credit card to buy a Lexus SUV or a Volve XC90. But do I do that? No. I bought a second hand MPV that I intend to let it run its course till it goes kapoot. 15K depreciation a year is all I can stomach. Losing anymore is plain stupidity, to be honest. You can never get rich living beyond your means, and have nothing left in your kitty when you are old. And it's no one's fault but your own.

You are absolutely correct.....(I'm not done).... . to a certain extend. haha

KNN, if everyone saves up and pay in full, how is the bank going to pay our saving accounts interest.?

You cannot anticipate what is the pricing in the next 5 years, autoloans are nothing as compared to housing loans. Not that I encourage spending but we never know whether we live tomorrow.

So it is your stupidity if you lose > $15k/yr but not for others?

ya ya, i also quite like it. a sliding door car!

some japan made cars are more expensive. our honda MPV (japan made) is about $100k plus liao.

so what was the percentage of the COE and Custom Duty and ARF of the $100k plus?

[Chunky Monkey 2]

KNN, if everyone saves up and pay in full, how is the bank going to pay our saving accounts interest.?

You cannot anticipate what is the pricing in the next 5 years, autoloans are nothing as compared to housing loans. Not that I encourage spending but we never know whether we live tomorrow.

So it is your stupidity if you lose > $15k/yr but not for others?

so what was the percentage of the COE and Custom Duty and ARF of the $100k plus?

In all due respect, GMC, there is NO WAY an autoloan is nothing compared to housing loan. Auto loans are on annual res, where housing loans are on daily res. And that said, the interest on auto loans are higher too. Yes, in dollar terms, an auto loan is smaller but in interest calculations and the costs of a loan to a customer, it's the worst form of secured credit.

It's quite a twisted logic to argue that one should get an auto loan, so that banks can afford to pay interest on our savings deposit.

And ... I cannot comprehend your last comment.

[korea 0]

15K depreciation! that quite a lot ain't it?

assuming the voyager cost $100k, that's only $10k a year...

and one credit card to buy a car, that would mean you either earn $100k a month, or the card is tied to a very FAT bank account

but guess if we dun have a lot of loans and can probably pay at least 30-50% of the car price upfront, there's no harm buying a nicer car

that's why i give myself five years to save up for a nice car

rather than settle for something else...

not surprisingly at all to use ONE credit card to buy a car. hubby has a friend who's so rich that he can use ONE credit card to pay for a BMW.

so what was the percentage of the COE and Custom Duty and ARF of the $100k plus?

i don't really take note of such things b'cos hubby'll be the one who in charge with all these. i just use my backside to sit.

Edited May 23, 2007 by korea

[applefreak 1]

think car prices have been dropping in the recent years

actually i'm considering a 2nd-hand hybrid

but heard comments from car salesman that dun know how is the battery condition...

for me fuel efficiency is rather important but engine capacity cannot be sacrificed

have seen a chery qq at the junction. when the light turned green, i almost fainted at it's speed

guess i'm a speed junky

[korea 0]

think car prices have been dropping in the recent years

actually i'm considering a 2nd-hand hybrid

but heard comments from car salesman that dun know how is the battery condition...

for me fuel efficiency is rather important but engine capacity cannot be sacrificed

have seen a chery qq at the junction. when the light turned green, i almost fainted at it's speed

guess i'm a speed junky

cherry QQ is a china made car. i guess you all also know its lifespan liao. when we were in shanghai last nov and we saw many cherry QQ on the road. it should be a popular car in china.

[Ah Keong 0]

think car prices have been dropping in the recent years

actually i'm considering a 2nd-hand hybrid

but heard comments from car salesman that dun know how is the battery condition...

for me fuel efficiency is rather important but engine capacity cannot be sacrificed

have seen a chery qq at the junction. when the light turned green, i almost fainted at it's speed

guess i'm a speed junky

Coz itz very light. And with its small wheels, itz got less rotating mass to deal with. Even Picanto can pick up faster than my Impreza ... But then again, any car can pick up faster than a 1.6L NA Impreza ... !!

[applefreak 1]

actually i mean the chery qq pick up really cmi

think the lane next to it three four cars go by liao it's still only 10m away from the stop line

[korea 0]

actually i mean the chery qq pick up really cmi

think the lane next to it three four cars go by liao it's still only 10m away from the stop line

really so serious!!