Originally posted by Ah Wei:
Hi,
Hope this helps:-
1) Yes, there are 42 mnths left in this car.
2) presume you drive the car away at 0 drive away, your mnth will be ard SGD678.00 a month for 42 mnths loan.........
3) You'll get back abt SGD8700.00 when you scrap the car in 2008 April. Its known as the parf.
4) OMV remains the same throughout.
ANyway, a 4.9k depreciation for a Nissan March at this current market is consider expensive. the depreciation of a Nissan March 1.0l now is around 4.4-4.6k at most........... I just happened to help a friend look out for one recently (earlier this mnth). Of cos, a lot still depends on the condition.
Also, the 40,000km mileage is very doubtful............ too little for comfort. But is its real, than it must be a pretty 'new' car............
Hi Ah Wei, thanks for the kind scoop!
That cleared up much but being the hopeless newbie, I have a somemore questions lined up..
1) good, i didn't embarass myself on the arithmetics.. Here's a part where i'm usually lost, if i should i choose to sell the car after a year, what would i be looking at? Eg, what happens to the loan; would i make a substantial loss; considerations you veterans make; etc..
2) thanks for the figure, looks like it came processed with a 10.5% interest from the $26K pricetag. Maybe it would be wise for me to go toss in a 20% downpayment..
3) How did you arrive at the PARF? is it fixed?
4a) uh, i don't seem to see the use of the OMV figure.. maybe i shouldn't bother about it?
4b) The depreciation figure, how does it come about and how does it affect the consumer? From your example, it seems to fluctuate, differ car to car.
Once again, thanks for the assistance, your friend's fortunate to have your help.