Buying a car
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I am 25 yrs old now and intend to buy a car. I have 3 choices:
Following prices are " On The Road Price "
1) Mitsubishi Lancer ----------> abt 49K
2) Toyota Corolla Altis --------> abt 57K
3) Toyota Vios ------------------> abt 47K
*** I am kinda budget and intend like downpayment 8K. Which one of the above is more worth it? I am looking for a low fuel consumption car. I intend like drive for 2 - 3 yrs only then change a new car again. Should I go for 7, 8 or 10 yrs installment plan? Please advise. -
if me was in ur position..
vios
drive 3 yrs
7 yr loan where possible(actually as short as u can afford.. to pay less interest)
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I went to ask the interest rate. It's 3.25% per year for 10 yrs plan. Actually I intend to get Lancer cuz firstly the price almost the same and secondly lancer is nicer than vios.Originally posted by nOrmalbOi:if me was in ur position..
vios
drive 3 yrs
7 yr loan where possible(actually as short as u can afford.. to pay less interest)
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u oredi have a car in mind.. then u ask for what..Originally posted by Rolex:I went to ask the interest rate. It's 3.25% per year for 10 yrs plan. Actually I intend to get Lancer cuz firstly the price almost the same and secondly lancer is nicer than vios. -
Lancer FC not that goodOriginally posted by Rolex:I went to ask the interest rate. It's 3.25% per year for 10 yrs plan. Actually I intend to get Lancer cuz firstly the price almost the same and secondly lancer is nicer than vios. -
if you know how to doll up your vios, i find it not bad.Originally posted by Rolex:I went to ask the interest rate. It's 3.25% per year for 10 yrs plan. Actually I intend to get Lancer cuz firstly the price almost the same and secondly lancer is nicer than vios.
saw a couple of vios nicely dolled up.
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wah lauz he need confirmation his choice is right mah......Originally posted by nOrmalbOi:u oredi have a car in mind.. then u ask for what..
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not that bad too..... and after all 1 is made in thailand 1 is made in japan. sad to say though workmanship for lancer is not fantastic but workmanship for vios is bad!!Originally posted by EkBoy:Lancer FC not that good
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Since you only want to driv for 2 to 3 year, have u consider renting a car then?Originally posted by Rolex:I am 25 yrs old now and intend to buy a car. I have 3 choices:
Following prices are " On The Road Price "
1) Mitsubishi Lancer ----------> abt 49K
2) Toyota Corolla Altis --------> abt 57K
3) Toyota Vios ------------------> abt 47K
*** I am kinda budget and intend like downpayment 8K. Which one of the above is more worth it? I am looking for a low fuel consumption car. I intend like drive for 2 - 3 yrs only then change a new car again. Should I go for 7, 8 or 10 yrs installment plan? Please advise.
The rental rate per month for a new car (6 month or less) can be at $1,400 max. This include road tax and insurance.
What will be your montly payment (road tax + insurance) with ur $8k down payment?
If is about the same, then might as well as rental...
You wont have the headache of selling and bear the depreciation ! -
i agree..Originally posted by huoye:not that bad too..... and after all 1 is made in thailand 1 is made in japan. sad to say though workmanship for lancer is not fantastic but workmanship for vios is bad!!
the insulation for the vios is... pukeblood status man...
forever go those drive thru car wash... inner part oso will have water one...
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If you intend only to drive for 2-3 yrs only, I'd advise you to buy a resale car. Reasons:Originally posted by Rolex:I intend like drive for 2 - 3 yrs only then change a new car again.
1) You won't suffer so much loss when you change another car in 2-3yrs' time.
2) You have more options as the price to pay is lower than a brand new car.
3) You can "practice" on a resale car before owning a brand new car if you are a new driver.
4) Other reasons that I may not have thought of at the moment. -
Hi kmkm, thanks for your help. My company could be sending me overseas to work in future like maybe 1.5 - 2yrs time for a period of dunno how long. So now I intend to buy a car or rent a car (like for 1 - 2yrs). Would it be more worth it if i rent a car for 2yrs? I don't have to lose the downpayment like 10k for a new car, no need to pay road tax and no need to pay insuarance only need to pay parking and petrol and the monthly car rental. But if rent a car, how about the servicing and repair if anything spoilt? What are the pros and cons for getting a car and a rental car for 2 yrs???Originally posted by kmkm:If you intend only to drive for 2-3 yrs only, I'd advise you to buy a resale car. Reasons:
1) You won't suffer so much loss when you change another car in 2-3yrs' time.
2) You have more options as the price to pay is lower than a brand new car.
3) You can "practice" on a resale car before owning a brand new car if you are a new driver.
4) Other reasons that I may not have thought of at the moment. 
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I have never rented a car before, so may not advise you completely, especially wrt servicing, repairs or any other costs related to accidents or insurance. But if the rental rate per month is $1,400 max as mentioned earlier by pqr, I think it may still be a better choice to get a resale car. The reason is that the paper loss from a resale car is confined mainly to its COE rebate difference over the next 1-2yrs even though you have to fork out more money for a resale car upfront.Originally posted by Rolex:Hi kmkm, thanks for your help. My company could be sending me overseas to work in future like maybe 1.5 - 2yrs time for a period of dunno how long. So now I intend to buy a car or rent a car (like for 1 - 2yrs). Would it be more worth it if i rent a car for 2yrs? I don't have to lose the downpayment like 10k for a new car, no need to pay road tax and no need to pay insuarance only need to pay parking and petrol and the monthly car rental. But if rent a car, how about the servicing and repair if anything spoilt? What are the pros and cons for getting a car and a rental car for 2 yrs???
Let say you rent a car at $1k per month, then over 2 yrs $24k will be gone (exclude petrol, ERP and parking). But if you buy a reasonably well maintained 3yr old resale car, the real paper loss when you sell it 2yrs later is around $4k to 6k since the COE of such a resale car would be around $20k-$30k. Of course, this is provided later on you sell the car at a premium to its paper value that is similar to what youÂ’d pay for it when you buy.
The common costs of petrol, ERP and parking are payable no matter what option you choose, so this is a difference of $18k-$20k in savings which, after factoring the payments for 2yrs of road tax, insurance and normal servicing costs for the resale car, can still leave you with spare cash to buy your own air tickets in case your company sends you overseas without paying for it later. And if you still find extra savings after that, you can write me a cheque too. -
But surprisingly, Mitsubishi(made in Japan) has a larger number of recall compare to Toyota(made in Thailand)Originally posted by huoye:not that bad too..... and after all 1 is made in thailand 1 is made in japan. sad to say though workmanship for lancer is not fantastic but workmanship for vios is bad!!
Vios is meant to be a budget car afterall therefore one should not expect too much in terms of its interior and exterior design. -
Go for manual lancer, you can't go wrong with that. It can do 14kpl if you know how to drive it. But if going for auto-tranmission, go for vios.Originally posted by Rolex:I went to ask the interest rate. It's 3.25% per year for 10 yrs plan. Actually I intend to get Lancer cuz firstly the price almost the same and secondly lancer is nicer than vios.
I don't see why Altis is in the picture.
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A girl driving a manual car err....i perfer auto. But if i buy mit lancer, it's almost the same price as vios and somemore it looks nicer than vios in terms of interior and exterior.Originally posted by wbucket:Go for manual lancer, you can't go wrong with that. It can do 14kpl if you know how to drive it. But if going for auto-tranmission, go for vios.
I don't see why Altis is in the picture. -
Originally posted by Rolex:
normal servicing is included in the montly rate.
But if rent a car, how about the servicing and repair if anything spoilt?
The good thing about renting is that when car spoilt, there is replacement and they will most likel tow away and do for you as it is "their car". -
Have you test driven the auto lancer? Rev it hard, if you don't see any problem, then I guess lancer is your answer.Originally posted by Rolex:A girl driving a manual car err....i perfer auto. But if i buy mit lancer, it's almost the same price as vios and somemore it looks nicer than vios in terms of interior and exterior.
Anyway, majority of the females in kelisa club drives a manual car, just for your info. -
i wouldn't advise anyone taking a long term loan for a car intended for short term use. u lose too much and may even find urself having to top up cash in order to sell the car going by the current market trend. why not opt for car sharing? pay for only wad u use, when u use it. no worries on the hassle of servicing either.
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car sharing is only suitable for those who needs car now and then...after office and weekend etcOriginally posted by tailslide:i wouldn't advise anyone taking a long term loan for a car intended for short term use. u lose too much and may even find urself having to top up cash in order to sell the car going by the current market trend. why not opt for car sharing? pay for only wad u use, when u use it. no worries on the hassle of servicing either.
if she need it for her job often, then car sharing not suitable
any form of loan term is not good... -
corolla altis, best! fuel compulsion very good and also very luxury! can last you to around 6 years bah. but dont buy altis now, new altis coming out i guess?
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Opss, didn't catch the loan 7years and only drive 1-2 years thing. Most likely have to top-up near 10k-20k to sell it. The first 1-2 years for long loan period is usually just paying interest, not even getting to the car price yet.Originally posted by tailslide:i wouldn't advise anyone taking a long term loan for a car intended for short term use. u lose too much and may even find urself having to top up cash in order to sell the car going by the current market trend. why not opt for car sharing? pay for only wad u use, when u use it. no worries on the hassle of servicing either.
Best to go for 7-8year old second-hand cars then. -
dats assuming dat she actually needs it more for work than leisure. nobody really specified anything in this respect.Originally posted by pqr:car sharing is only suitable for those who needs car now and then...after office and weekend etc
if she need it for her job often, then car sharing not suitable
any form of loan term is not good...
yeah, paying any form of loan will incur exhorbitant interest rates on top of the high depreciation in the first few years of the loan tenure. but this may be a necessary evil in the name of liquidity for the common singaporean.