Originally posted by 39th:
With an income of 32K p.a, what 2 litre car can i buy and how much loan can i take from bank? Anyone can kindly advise?
32k / annum for 2 ltr car, will be a bit tight. if I remembered correctly they wun give you 100% loan at the most is 95%. Unless you put under combine name with your spouse. If your installment is around $600 a month shouldn't be a problem.
2 ltr car road tax about $1440 a yr. Insurance wise would be more than $1600 (0% NCD + above 35yr old + no accident) if it is mazda 6 2.0. That is one of the lowest
I would advise you to get a 1.6 sedan or 1.8mpv like pinic.
Not to forget servicing which could range from $100 to $800 depending on which package for a typical sedan
Its quite hard to say on forums. you will need to seek advise from your frens who are driving or from SE in car showroom. Talk to a few and compare what they say.
What you can try is target a few cars in your mind and get more information on it.