Pay $1838 possible to get loan approved ?
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If my pay is as above will a loan be granted ? for a OPC ?
How is the procedure ? I apply a loan 1st ? Or chose car, chose colour, then bid COE, etc. -
Normally, banks will approve if our car installment is less than 1/3 of your gross pay.Originally posted by skthk:If my pay is as above will a loan be granted ? for a OPC ?
How is the procedure ? I apply a loan 1st ? Or chose car, chose colour, then bid COE, etc.
Dun have to worry so much, juz go to the dealer.. pick your car and tell the SE to apply bank loan for u. However, highlight to him you WILL BUY the car ONLY WHEN the bank approve your loan. COE? dun have to worry also.. let the SE do the work. Hope the above helps. Gd luck! -
Thanks bro for reply.Originally posted by siaokao:Normally, banks will approve if our car installment is less than 1/3 of your gross pay.
Dun have to worry so much, juz go to the dealer.. pick your car and tell the SE to apply bank loan for u. However, highlight to him you WILL BUY the car ONLY WHEN the bank approve your loan. COE? dun have to worry also.. let the SE do the work. Hope the above helps. Gd luck!
Dun understand COE, if up then I pay more ?
At which stage is people say "sign on dotted line" then cannot get freebies, change color, or even change model ? -
Depends on what deal you get from your SE. Some are G'ranteed COE (1,3 or 6 bids) some are not. So if possible, get these g'ranteed deals.Originally posted by skthk:Thanks bro for reply.
Dun understand COE, if up then I pay more ?
At which stage is people say "sign on dotted line" then cannot get freebies, change color, or even change model ?
It will be unlikely for you to get freebies once u sign on the dotted line.. as to changing of colours and models.. depends on which dealer you go to. Are you looking at Vios? If so, I suggest go test drive other cars around that kinda price range. Go check out the Fiat Panda (ok.. I'm bias.. keke).. its nice and cheerful.. plus the Dealer is very flexible.. unlike.. uhem.. BM.
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no offence...but its not easy maintaining a vehicle with $1.8K..
purchasing is not everything..still have to take into consideration insurance,servicing,petrol, parking, etc.. -
1838 ur take home or ur gross pay?
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Depends... you will need to have worked for about 1 year i your present company.
Many banks did not approve my loan even though my pay is more than 4 times the monthly instalments. The last bank accepted to grant me the loan (but with super high interest) with a guarantor though.
Even with a budget car (non-OPC), prepare to fork out about S$1k - S$1.2k per month. That's for your monthly instalment, petrol, maintenance, carpark coupons & season parking. Not forgetting the insurance and road tax as well. In yr third year, servicing cost will be borne by you as well. Each major servicing will cost u ard S$200+ excluding changing the brake pad, etc whioch is very ex...
Consider carefully first, k?
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drop the idea.
how can you afford a car with that salary? -
My rule of thumb is that if you want to maintain a normal saloon car, a safe amount to set aside for one is $1k a month... But that would leave you with less than $1k for yourself... not a good idea if you have other commitments... Best is to have around $2k plus....
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What! you dare to buy car with only $1800 salary?
I know a medical doctor earning more than $10k a month and his accountant wife about $8000 a month taking MRT and bus to work. They don't own car. They fully pay up their house and 2 other properties. They are looking to buy another property soon.
I don't think you should spend more than 20% of your take home pay on car. Live below or within your means. -
Sometimes, we have to accept facts. The fact that you're not ready to own a car if you're earning a mere $1.8k/mth.
I know facts are hard to accept...
It's like if your feet is small don't wear big shoes for goodness sake. -
Comm'on guys.. his question is abt loan.. not abt affordability. I'm sure he is already pressing his calculator liao.. so let the man decide.
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ya ya I know I poor. Actually have work for xxxxxxxx 15 years to this gross pay.Originally posted by rich989898:What! you dare to buy car with only $1800 salary?
I know a medical doctor earning more than $10k a month and his accountant wife about $8000 a month taking MRT and bus to work. They don't own car. They fully pay up their house and 2 other properties. They are looking to buy another property soon.
I don't think you should spend more than 20% of your take home pay on car. Live below or within your means.
only considering a OPC. then again how it goes - means 17K over 10 years
meaning actually 1 years 1.7K each month $140+.
Then if 5 years sells how ? I have to pay out $8500 ?
OPC got what difference - road tax cheaper how much? Insurance ?
Your this medical doctor is very let say "uncommon" ? Its their personal choice. Don't think can relate to me. cos they jolly well can afford 2 cars each. They are some richer people who are more "noew".
I am not haolian, i know u guys comments are in good intentions. i just wondering if can afford a opc for family.
Pica seem too small, then next Getz, Aveo5, sedan -
Wonder if could be mistaken about OPC price? it's 17k rebate off the normal car price. So depends on the normal price of the car, subtract 17k for the OPC price.Originally posted by skthk:ya ya I know I poor. Actually have work for xxxxxxxx 15 years to this gross pay.
only considering a OPC. then again how it goes - means 17K over 10 years
meaning actually 1 years 1.7K each month $140+.
Then if 5 years sells how ? I have to pay out $8500 ?
OPC got what difference - road tax cheaper how much? Insurance ?
Your this medical doctor is very let say "uncommon" ? Its their personal choice. Don't think can relate to me. cos they jolly well can afford 2 cars each. They are some richer people who are more "noew".
I am not haolian, i know u guys comments are in good intentions. i just wondering if can afford a opc for family.
Pica seem too small, then next Getz, Aveo5, sedan -
I know someone may not like me for saying this, but I'm scolding my gf for the same reason that I wanted her to wake up, I have paid up all her credit card debts, which amounts to about $10k.
And I just want to say that if you don't have the spare cash, then don't commit to a car or credit cards. By doing so, you're actually working for the bank because the car loan and the credit card interest rates will make your life miserable. If you earn $10k by all means, get what you want, but if you want to struggle to get a car, then you have to be prepared to endure the suffering for another 5-10 years of the car loan. The thing is, many people think they can do that, but in reality, most cannot endure sufferings month and month for the next 5-10 years, in fact most can't even endure past the first few months.
Last time my gf keep crying to me about her debts, and I really hate that I had to pay up for her coz of the relationship, but my point is, consider properly now rather than regret later about the wrong decisions in life. -
Hi and good evening,I hope I don't sound condescending,but if you can,reconsider your option of buying a car.Maintenace of a car in Singapore is a high cost 'luxury'.Do some maths and calculate how much you can spare each month for the car,do remember to factor in 'incidentals'.Please don't feel slighted or insulted,just want to ensure you know of the many 'hidden cost of car maintenance'.Thnks and good luck!
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Most of my friends live below their means. They have no problem paying 100% cash for any new cars in the market. But some chose not to drive and others drive small car. Reason being car is a depreciating assets and a liability.Originally posted by DailyFreeGames.com:I know someone may not like me for saying this, but I'm scolding my gf for the same reason that I wanted her to wake up...
In fact, many poor drive fancier and more expensive cars than the rich. Frankly, how many people actually ‘own’ the car? Do you want to know why only 1% of the populations are rich and 99% poor? Just see how the 99% people spend their money
PS: Some rich people do drive very expensive car. The catch is they don't use their own money -
the getz seems a gd bargain if u can overlook the badge..
tink shud be under 40k for a opc..
alternatively, y dun u take a look at the used car market? -
anyway, dun be sensitive im sure most ppl in the forum r not trying to 'suan siao' u, they r juz worried u may take the wrong path n fall into the debt trap..
try to live within ur means, n if ur finances allow, then tink of buying a vehicle..
no pt making ur family happy by ferrying them ard in comfort, but having to dig in hard whenever the bills come..
regards