Regarding Car Purchases
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Hi all,
Does any one has any idea if my family wants to get a car from a authorised dealer say a Kia Rio , and I am the only one with a driving licence in the household. But i do not have a stable income. Izzit possible to get a car loan say under my dad or sister's name and have the car under my name? Or simply izzit possible to purchase a tat car? -
buy car need license meh?
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buy car no need licence? so anyone can just buy a car and register it under his/her name? Is tis e case?
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you have never bought a car before didnt you?Originally posted by sinicker:buy car need license meh? -
No problem!! you can always get your dad/sis to be the guarantor.Originally posted by jakku:Hi all,
Does any one has any idea if my family wants to get a car from a authorised dealer say a Kia Rio , and I am the only one with a driving licence in the household. But i do not have a stable income. Izzit possible to get a car loan say under my dad or sister's name and have the car under my name? Or simply izzit possible to purchase a tat car?
However, if you just got your license within a year, the standard car insurance starts from 2K depending on what kind of car you get.
Anyway, you can check with the car dealer, what do they need in order to get the loan approved. Maybe your cpf statement and your dad/sis 's payslip etc..
Howver, if you are considering second-hand car, read the link below..
http://www.sgforums.com/?action=thread_display&thread_id=197210 -
nope. just drive.Originally posted by fckes:you have never bought a car before didnt you?
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Yes you can. Which means, the car will be under your name but the finance side would be your dad or sis name to be your guarantor.Originally posted by jakku:Hi all,
Does any one has any idea if my family wants to get a car from a authorised dealer say a Kia Rio , and I am the only one with a driving licence in the household. But i do not have a stable income. Izzit possible to get a car loan say under my dad or sister's name and have the car under my name? Or simply izzit possible to purchase a tat car?
But rememeber, if total income declared under the combine name is less than 3k, they will only give you a 90% loan.
But if you are just going to buy the car at full payment, just walk in and go ahead.
Remember to ask the agent to check up your insurance premiums. AIG is one of the highest, there are cheaper options like NTUC or Aviva.
It would be better to get someone experience to accompany you when purchasing the car, so as to make sure the agent does not cheats you and get better deals. Coz one of my fren so stupid, instead of taking a 35k loan with 2.88% interest, become 35k + 2.88% + 5% addtional gst coz he kenna cheated by the agent who say need to add in GST when the selling price was nett price
.... Bullsh1t.... But its from PI... hehe -
great... thanks a lot for the info... but for e insurance part most of the authorised dealer would require me to buy an insurance from them rite? i cant outsource myself until the sec yr rite?
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Yes if not lesser discount, 2nd onward can buy other insurance.