whats the best budget for me?

• Juntaox

  26 Sep 05, 17:23

  Hi everyone
  
  I need some advise on buying a car. Be it 1st or 2nd hand though.
  My situation now is..Am in a sales job so i need a transport which my company is providing allowances $500 monthly and petrol full claim. All i need to calculate to pay per month is the insurance, road tax, carpark & etc..
  
  Well, hoping not to be tied down by the car expenses, am looking at a affordable rate installment such as around $500 per month with $0 driveaway possible? Currently am interested in Vios & hyundai accent hatchback model. I know nuts about cars. Kindly advised.. Thanks.
• fondue

  26 Sep 05, 20:55

  get a 2-3yr old car at paper value. can sell n buy new car a yr or two later when COE price is more stable (hopefully) or when COE drop below 10K.
  
  for vois, you'll be paying $500 only if you take 10yr loan. Car cost 50+k and you pay 15+k interest !!! But, if you have to sell in a few yrs time, you'll need to top-up cash cos the resell value will be less that your outstanding loan.
  
  insurance, road tax, parking, servicing will cost you at least another $250 a month.
  
  Else get a kangoo or something
• Praetorian111

  26 Sep 05, 21:12

  I think for sales, a vios will be a much more decent car. However you will have to pay an additional of 200 plus on top of the car allowance ver month. This will exclude having to pay for additional road tax, insurance etc.
  
• wbucket

  27 Sep 05, 08:51

  Vios is good, go for it. But the advice on getting second-hand cars would be much better for you. Cause for a new vios, with no downpayment, it would easily cost you another 500 per on top of your allowance and fuel claims.
• Gazelle

  27 Sep 05, 12:42

  Originally posted by Juntaox:

  Hi everyone
  
  I need some advise on buying a car. Be it 1st or 2nd hand though.
  My situation now is..Am in a sales job so i need a transport which my company is providing allowances $500 monthly and petrol full claim. All i need to calculate to pay per month is the insurance, road tax, carpark & etc..
  
  Well, hoping not to be tied down by the car expenses, am looking at a affordable rate installment such as around $500 per month with $0 driveaway possible? Currently am interested in Vios & hyundai accent hatchback model. I know nuts about cars. Kindly advised.. Thanks.

  How much is your company offering you for basic salary?
  
  $500 only enough to pay for your petrol and general repairs.
• Juntaox

  27 Sep 05, 17:02

  Hi
  
  am more looking for 2nd hand car though cause 1st hand car will be too costly for me. my company paying $500 transport & $500 petrol which is quite sufficient. So i thought if a 2nd hand vios be a better choice? or a new/2nd hand hyundai accent? Diesel car is out cause my company requires me to have a salon car. Hopefully if theres any $0 drive away with a vios monthly of $500 or slightly more? Thank you guys for your advice.
• Gazelle

  27 Sep 05, 17:26

  Originally posted by Juntaox:

  Hi
  
  am more looking for 2nd hand car though cause 1st hand car will be too costly for me. my company paying $500 transport & $500 petrol which is quite sufficient. So i thought if a 2nd hand vios be a better choice? or a new/2nd hand hyundai accent? Diesel car is out cause my company requires me to have a salon car. Hopefully if theres any $0 drive away with a vios monthly of $500 or slightly more? Thank you guys for your advice.

  If you are doing sales, suggest you get a Jap car will proven reliability. Toyota is a good choice. It might be more expensive than the hyundai, but i believe they will hold better resale value, so the running cost will pretty much be the same.
  
  zero down payment will mean bigger loan, bigger loan mean higher installment. You have to do your math and decide.
  
  
• wbucket

  27 Sep 05, 17:29

  Originally posted by Juntaox:

  Hi
  
  am more looking for 2nd hand car though cause 1st hand car will be too costly for me. my company paying $500 transport & $500 petrol which is quite sufficient. So i thought if a 2nd hand vios be a better choice? or a new/2nd hand hyundai accent? Diesel car is out cause my company requires me to have a salon car. Hopefully if theres any $0 drive away with a vios monthly of $500 or slightly more? Thank you guys for your advice.

  S$0 drive away is a hugh liability. Like I said, for vios, even for 2nd hand, you need to cough out about 300-400 extra, assuming your S$500 cannot be use to cover road tax, insurance and other extra stuff.
  
  Background info. I think new Vios is about 53k now. 1 year old about 50k, 2 year old about 48k. Go here http://www.sgcarmart.com/main/listing.php, to check out the prices.
  
  So assuming 3% interest rate, which is low for second-hand, reasonable for new car 10 year loan.
  
  53k = 563 monthly
  50k = 588 monthly
  48k = 744 monthly
  
  It is never sufficient when you count to the exact number. I was lucky I choosed a car that is 14k below my maximum budget. Else you will see me eating grass now.
• w2k_83

  27 Sep 05, 21:33

  Originally posted by Gazelle:

  How much is your company offering you for basic salary?
  
  $500 only enough to pay for your petrol and general repairs.

  my company is providing allowances $500 monthly and petrol full claim
  
  He gets full petrol claim on top of the $500 so he only needs to pay for instalment, insurance, roadtax, parking, servicing and repairs
  
  In total I would estimate that u require around 700-800 to own a new Vios