What are the secrets behind the car loan?
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What are the secrets behind the car loan?
Secret 1
When we take a car loan, the current interest rate is about 2.98%-3.25% per annum, if we check the time deposit rate in commercial bank, it also close 3% now, How do the banks make money from car loan?
I guess the secret is here:
If we deposit $10,000 in the bank for 1 year, we can only withdraw this $10,000 at the end of maturity.
But when we take a $10,000 car loan, from the 1st month or 2nd month we start to pay the installment, so the actually interest rate is 35%-40% higher than the nominal interest rate, this 35%-40% is a good profit for the banks.
The nominal interest rate here is a common trick of all installment loan, am I right?
Secret 2
This is something I can not understand, need someone to enlighten me.
When I go to Nissan car showroom, the SE told me that if I can take $30,000 loan for just 1 year, they will give me S$1500 rebate; interest rate 3.25% if do not need rebate, interest rate goes down to 2.98%.
Mitsubishi Lancer: S$35000, 5 years (but only lock-in 3 years), S$38000 cash rebate in 1 month later. interest rate 3.25%
Toyota Vios: Take min S$25000 loan for 1 year, the list price goes down S$1000.
Chevry Aveo: Take 50% loan, (roughly S$21000), give S$3000 rebate, they did not specify the term.
Even follow the secret 1 to calculate the interest, for Nissan case, the total interest amount is only S$975, and they give S$1500 rebate!, in all the other case, the same scenario, whatÂ’s wrong here?
Is it because:
1: If someone pay all the cash in full, then this guy is too rich, the dealers must chop more from him, and if someone take car loan, then the dealers willingly to reduce the price, we all know that calculate by Open Market Value, all the car dealers earn a very fat profit, there is enough room for them to reduce price, so car loan rebate is just a good excuse for them to reduce the price for some not so rich customers?
2: The car dealers have other arrangement with banks, the bank and dealers can earn profit in other hidden ways? -
Its all part of a conspiracy
when u pay in full payment,they demand or sort of make it difficult for u by wanting u to produce ur income tax watever
my guess is that the sales man or company do get comission cuts -
olala.. I've been watching you post for the past few weeks.. Congratz, you have successfully proof yourself to be a TOTAL IDOIT. If you know NOTHING.. try not to give stupid and baseless "advice". I suggest u stick to your x-box, sggirls or bar@sgforums.Originally posted by olala:Its all part of a conspiracy
when u pay in full payment,they demand or sort of make it difficult for u by wanting u to produce ur income tax watever
my guess is that the sales man or company do get comission cuts
Btw, no need to reply or fire me with your CAPS and "SUE YOU" thinge.. I'm flame proof. -
stfuOriginally posted by siaokao:olala.. I've been watching you post for the past few weeks.. Congratz, you have successfully proof yourself to be a TOTAL IDOIT. If you know NOTHING.. try not to give stupid and baseless "advice". I suggest u stick to your x-box, sggirls or bar@sgforums.
Btw, no need to reply or fire me with your CAPS and "SUE YOU" thinge.. I'm flame proof.
u buy cars they will question u abt the large amout of $ here and there
u go bring cold hard cash there and see loh -
and if u got personal attack pm me la
dun dirty ppl topic wif out conflict
gan ni laobei -
hahaa!! unlike u.. I'm not guy.. U can carry on.. go gan ni laobei!! wahahaa!!!Originally posted by olala:and if u got personal attack pm me la
dun dirty ppl topic wif out conflict
gan ni laobei
Remember.. I'm flame proof.. wahahaa!!! -
wat an idiot laOriginally posted by siaokao:hahaa!! unlike u.. I'm not guy.. U can carry on.. go gan ni laobei!! wahahaa!!!
Remember.. I'm flame proof.. wahahaa!!!
can always try bring 50k or more in cold cash to the showroom
seee their reaction and wat they will ask u to produce -
Wanna show off u very rich have "cold hard cash"? really so.. go buy your 2nd hand GTR, GTO or watever lah.. no need to wait for licence one.. there are ppl here bought their cars with cash - your so-call "cold hard cash" even before getting licence.. park at home.. slowly ZING their cars. 1st day pass driving test.. put on "P" plate.. go driving liao.. but hor.. these ppl unlike u hor.. post so much ribbish.. But hor.. u win them one thing.. they not as big a show off like u.. wahahaa!!Originally posted by olala:stfu
u buy cars they will question u abt the large amout of $ here and there
u go bring cold hard cash there and see loh
Next. -
the one wif no talk is u wanOriginally posted by siaokao:olala.. I've been watching you post for the past few weeks.. Congratz, you have successfully proof yourself to be a TOTAL IDOIT. If you know NOTHING.. try not to give stupid and baseless "advice". I suggest u stick to your x-box, sggirls or bar@sgforums.
Btw, no need to reply or fire me with your CAPS and "SUE YOU" thinge.. I'm flame proof.
u didnt even state u point pertaining to topic
only barge here and make personal attack
get a life man or go f* wif ur gf
yaya,im being offensive on purpose
dun ponder -
Next..Originally posted by olala:wat an idiot la
can always try bring 50k or more in cold cash to the showroom
seee their reaction and wat they will ask u to produce -
watch guys watchOriginally posted by siaokao:Wanna show off u very rich have "cold hard cash"? really so.. go buy your 2nd hand GTR, GTO or watever lah.. no need to wait for licence one.. there are ppl here bought their cars with cash - your so-call "cold hard cash" even before getting licence.. park at home.. slowly ZING their cars. 1st day pass driving test.. put on "P" plate.. go driving liao.. but hor.. these ppl unlike u hor.. post so much ribbish.. But hor.. u win them one thing.. they not as big a show off like u.. wahahaa!!
Next.
did i say im very rich?
i meant ur parents or perhaps urself will have perhaps 30k savings when ur older
but if u bring these cash in stacks to the showroom
they will question u
tats all
dun come finding fault cz its stupid
i said liao la,u dun believe u can always witdraw 50k in cold cash and bring to show room for car purchase -
Well.. coz u donno how to read..Originally posted by olala:the one wif no talk is u wan
u didnt even state u point pertaining to topic
only barge here and make personal attack
hahaa.. sure.. I'm having a good life.. and f*ing girls for a long time already!! wahahaaa!!!!Originally posted by olala:get a life man or go f* wif ur gf
yaya,im being offensive on purpose
dun ponder
Next next.. faster.. i going out! -
dun give me cok laOriginally posted by siaokao:Next..
always sholve the answer and evidence into u guys face and u guys will say"next"
"watever"
is that the trend?or have u been shot down flat?
i say liao ma,bring the $ to showroom and u will c for urself
talk so much here oso no result,go there urself and see loh -
You bring paper cash to buy car?Originally posted by olala:dun give me cok la
always sholve the answer and evidence into u guys face and u guys will say"next"
"watever"
is that the trend?or have u been shot down flat?
i say liao ma,bring the $ to showroom and u will c for urself
talk so much here oso no result,go there urself and see loh
What's your problem?
I use NETS!
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pls lah.. 50K cash go buy car nothing lah.. so many ppl here go buy cars even take loan also go with more than 50K deposit liao.. sigh.. and btw, I never imply me, or my father or my mother.. grand father, grand mother.. uncle.. grand uncle rich mah.. unlike u.. wahahaaa!!Originally posted by olala:watch guys watch
did i say im very rich?
i meant ur parents or perhaps urself will have perhaps 30k savings when ur older
but if u bring these cash in stacks to the showroom
they will question u
tats all
dun come finding fault cz its stupid
i said liao la,u dun believe u can always witdraw 50k in cold cash and bring to show room for car purchase -
wat i meant was if u dun take loan and bring cash there to purcahse a car,the dealer will question uOriginally posted by SexyChin:You bring paper cash to buy car?
What's your problem?
I use NETS!
but siaokao tink otherwise
wat a dog barking..siaokao...ahahaha -
aiyo.. u really have problem reading leh.. or i post too fast liao??Originally posted by olala:dun give me cok la
always sholve the answer and evidence into u guys face and u guys will say"next"
"watever"
is that the trend?or have u been shot down flat?
i say liao ma,bring the $ to showroom and u will c for urself
talk so much here oso no result,go there urself and see loh -
yaya...but thats beside the pointOriginally posted by siaokao:pls lah.. 50K cash go buy car nothing lah.. so many ppl here go buy cars even take loan also go with more than 50K deposit liao.. sigh.. and btw, I never imply me, or my father or my mother.. grand father, grand mother.. uncle.. grand uncle rich mah.. unlike u.. wahahaaa!!
if u wanna make payment at least in cheque
wat i said was if u bring 50k in codl hard cash they will question u
wats ur prob?
soemtimes i dun wan start war but ppl juz wun read carefully wat i type -
hahaha.. many ppl have try this on me without any success.. try harder.. wahahaa!!Originally posted by olala:wat i meant was if u dun take loan and bring cash there to purcahse a car,the dealer will question u
but siaokao tink otherwise
wat a dog barking..siaokao...ahahaha -
looks like sunday is the day when i can release my stress on ppl
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"Beside the point"?? why? excuses ar?Originally posted by olala:yaya...but thats beside the point
if u wanna make payment at least in cheque
wat i said was if u bring 50k in codl hard cash they will question u
wats ur prob?
soemtimes i dun wan start war but ppl juz wun read carefully wat i type
ur point abt bringing "Cold hard cash" to buy car has got nothing to do with the threadstarter's post abt loans..
As with the rest of your postings.. u r jus trying to show off.. -
comm'on.. faster!! i have a date to meet (to release stress).. faster!Originally posted by olala:looks like sunday is the day when i can release my stress on ppl -
lol!Originally posted by siaokao:"Beside the point"?? why? excuses ar?
ur point abt bringing "Cold hard cash" to buy car has got nothing to do with the threadstarter's post abt loans..
As with the rest of your postings.. u r jus trying to show off..
u dun even understand wats besdie the point dumb cunt
it means that those point r reasons but irelevant to wat i made
ya,wat i posted might has nth to do wif what thread starter said
but it definetly shot u down
cz ur point state that bringing cash to show room is ok ma
i cant b bother too much
go out for all i care,u got too many tiem at hand -
sometimes i pity "rich" kids like u.. no life sit in front PC post rubbish.. sorry.. cannot play wif u liao.. gtg man! I have a life to live! wahahaa!!
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eh.. I tot u 17? real or not? have u taken ur PSLE? u really have problem reading huh? wahahaa!!Originally posted by olala:lol!
u dun even understand wats besdie the point dumb cunt
it means that those point r reasons but irelevant to wat i made
ya,wat i posted might has nth to do wif what thread starter said
but it definetly shot u down
cz ur point state that bringing cash to show room is ok ma
i cant b bother too much
go out for all i care,u got too many tiem at hand
Or u too stressed up.. cannot think straight? wahahaa!!!
okok.. i really gtg.. sure have ppl u can play wif here.. bb!