Hey guys.. is it advisable to buy a 2nd hand car? wat would the terms be like if I'm looking at a car < 30K? thanks for any advice!
buying a car with a good exhaust pipe would make having sex with the car super fun.
Originally posted by lem0nade:Hey guys.. is it advisable to buy a 2nd hand car? wat would the terms be like if I'm looking at a car < 30K? thanks for any advice!
What's wrong with buying a 2nd hand car? If you don't have the budget but need the transport, there's absolutely nothing wrong in buying a 2nd hand car where the 1st owner would have kindly absorbed much of the dep for the first few years, not to mention many highly considerable cars which might have currently EOL-ed.
Less than 30k?
For the COE Cars, ie more than 10 years old/renewed COE, the COE CAT A, which would generally comprise of Nissan Sunny, Toyota Corolla, Honda Civic, Mitsubishi Lancer, and the occasional MX5s with classic flip up headlights.
COE CAT B, generally mostly 200E/E200, 318.
for PARF Cars, ie less than 10 years old, generally hard to find sub 30k 2nd hand cars, unless it's OPC cars.
So the question is.... what type of car are you looking for? Because sub 30k is actually very general, it's equivalent to saying "I have 300k, recommend a sports car" kind of situation, so please do let us know what type of car you have in mind / your requirements.
he wants a car that he can have sex with everyday la
hmm... i'm currently looking at the cat A cars... most likely the civic or the presea. how much would i haf to pay per month and for how long? thanks!
For first time car owners, the option of a 2nd hand car has my vote.
For seasoned car owners, it's best to buy it 1st hand.
With a budget of 30K, I'm not for sure what options are available unless you're talking about an OPC?
Determine your budget, find out what models you're after, shop around popular belts, test drive the models and find out more information from a reliable agent.
Things to look out for before you ink the deal, take a look at the certificate of approval from LTA. Find out the last service date of the car, check the shelf life of tyres, car battery, condition of interior are important too.
30k can have how much sex with a bmw?
If your budget is 30k, why dont you save money before buying a car? Alot of cost may just pop out on the way, if you are not RICH enough to buy a 2nd hand car, SAVE first.
Originally posted by lem0nade:hmm... i'm currently looking at the cat A cars... most likely the civic or the presea. how much would i haf to pay per month and for how long? thanks!
You wish to take loan for COE cars? Do take note that when loaning for second hand cars, the interest rate is usually higher than when you buy a first hand car, hence even if the list price is about 30odd k, your monthly installment can still be around the 500-600 range, plus with older cars, maintanence and parts will take up a considerable portion of your budget as wear and tear is bound to happen. Just go to SHC and ask the EG/K owners there.
For that matter, I'd feel that buying a first / second hand PARF korean / malaysian car might be better. Cars such as the Kia Cerato have been proven to be more or less worth it to buy for owners with slightly smaller budget at the expense of say, FC, as compared to Jap Cat As, while malaysian cars such as the Proton Wira is based on the previous generations of Mitsubishi Lancer (using the same 4G13 engine if I recall correctly), so parts will be avaliable and repairs/replacement costs and labour costs across the border is definately much more affordable.
Originally posted by nightsky87:You wish to take loan for COE cars? Do take note that when loaning for second hand cars, the interest rate is usually higher than when you buy a first hand car, hence even if the list price is about 30odd k, your monthly installment can still be around the 500-600 range, plus with older cars, maintanence and parts will take up a considerable portion of your budget as wear and tear is bound to happen. Just go to SHC and ask the EG/K owners there.
For that matter, I'd feel that buying a first / second hand PARF korean / malaysian car might be better. Cars such as the Kia Cerato have been proven to be more or less worth it to buy for owners with slightly smaller budget at the expense of say, FC, as compared to Jap Cat As, while malaysian cars such as the Proton Wira is based on the previous generations of Mitsubishi Lancer (using the same 4G13 engine if I recall correctly), so parts will be avaliable and repairs/replacement costs and labour costs across the border is definately much more affordable.
Usually for those second hand cars under 25K if you can afford to dump your entire cash in it its more advisable.
Interest rates not worth it.
Originally posted by nullifi3d:Usually for those second hand cars under 25K if you can afford to dump your entire cash in it its more advisable.
Interest rates not worth it.
I see... I thot must take up loan den can buy... so must i pay in full amt or can i just pay in instalments?
Originally posted by lem0nade:I see... I thot must take up loan den can buy... so must i pay in full amt or can i just pay in instalments?
No, not neccesarily you have to take a loan. You have the choice to pay in full, ie cash, and you also have the choice to take up a loan (Do take note, for COE cars, most of the time the loan will be provided by their so-called in-house "finance", and their rates will not be.. low.)
However, if you do choose to pay by cash, do take note that the price that you see listed on sgcarmart is not the only amount that you have to pay. When you go and see the car and test drive, etc, and decide, there will suddenly be a lot of additional fees, such as Transfer fee, and they will find means and ways to make you pay more (such as the ever cork "administrative fees") and so on and so forth.
Also do take note that for COE cars, it is better to get from reputable second hand car dealers then just choosing one at Ubi or Thomson/West Coast and just drive away, some of the more reputable ones offer 6-month warranty at their workshop (You will NOT believe how many of those COE cars, you drive out one week and things will inevitably suddenly start to spoil here and spoil there). Do budget for unexpected repairs and maintanence, and do not 100% believe when they say 'just serviced' 'no repairs needed' 'good running condition' etc. I've seen a lot of cars praised to the high heavens by the dealers but less than 1 month, things start to spoil. Highly advisable if you get someone mechanically-savvy to go and look see with you. The cars won't be in perfect condition, but things such as chasis/rusting/essentials must be in acceptable condition.
Depending on whether you are a point A to point B person or the class conscious type.
Imho, better to drive a used car than a new one.
It will save you tens of thousands of dollars. Used car buyers avoid 20% loss in depreciation plus the first 10,000km for every car is most expensive, why not let someone else drive it?
Just be cautious in the purchase, nightsky87 has given many useful pointers.
Cars today are built with better technology, they're a lot sturdier. Buying second hand is no longer the gamble it used to be.
For interest rates, best not to pay for anything above 2.8% no matter what. Buy it, then drive for ten years. For 30K I think you can get a sedan like the Nissan Sunny?
Originally posted by soleachip:Depending on whether you are a point A to point B person or the class conscious type.
Imho, better to drive a used car than a new one.
It will save you tens of thousands of dollars. Used car buyers avoid 20% loss in depreciation plus the first 10,000km for every car is most expensive, why not let someone else drive it?
Just be cautious in the purchase, nightsky87 has given many useful pointers.
Cars today are built with better technology, they're a lot sturdier. Buying second hand is no longer the gamble it used to be.
For interest rates, best not to pay for anything above 2.8% no matter what. Buy it, then drive for ten years. For 30K I think you can get a sedan like the Nissan Sunny?
Hmm.. my main purpose is to get to my destinations.. so I'm not really concerned how the car looks.. Yep.. Sunny can get for under 30K.. but i heard it's a fuel guzzler.. is it true? Anyway thanks to all for yr valuable pointers!
Depends on what constitutes good fuel consumption to you.
13-14km is considered gd fc for some. i'm doing 8-9km and forking out between $200- $250 max from point A to point B a month. best to consult sunny owners. maybe others who know a lot more about car engines and fc can comment.