Cash rebates

[Sash1401]

hi,

 

i came across quite a no of PI... in fact alot of them r selling cars at the price lower than sgcarmart wif some saying eg.2 bid guranteed coe without top-ups. Price before cash rebate...

 

can i noe wat is there to top up for the coe and wat's cash rebate?

 

thanks

[Toyo]

in case they can't secure the COE for u and asked u to top up the differences.

Cash rebates are basically discount. but comes with terms and conditions, usually higher loan amount with higher interest rates

[Mzrmazda3]

can i noe wat is there to top up for the coe and wat's cash rebate?

 

Top up COE meaning if the dealer is unable to secure the COE for that bidding, they might ask you to top up the difference so that they could give you an Open Cat one

 

Cash Rebate is the $$$ returned to you in the form of a cheque which is a certain percentage of your interest incurred from your loan amount The more you loan and depending on the period, the more you get back

[Iziz]

In short, nv take the value of the car to be "after cash rebates, before COE top-up" becoz it will not be the final price, coz after taking into account these 2 items, u will be paying a lot higher for the car.

 

Cash rebate

 

Eg. 3.5% interest rate (30% interest rebate scheme)

 

Latio Sedan base - 58,000

Full loan/10 yrs/Interest rebate = 6,090

 

So instead of telling u the car is 58,000, they r telling u that the price is 51,910 (58,000 - 6,090).

 

COE Top-up

 

Eg. Price of car = 58,000, COE pegged at 16,000.

 

If the COE for 17th Oct 07 rises to S$18,000, u will have to top-up the other 2k difference.

 

Hope this will clarify ur doubts.

 

 

Cheers!

Isaac

[Sash1401]

thanks alot bros....

[Picanto]

the bank will make back the cash rebates from the higher interest rate and loan period.

[Snowie]

Hi,

 

i am wondering how many cash rebate schemes are there? Seems like i have come across a few after enquiring...

 

Anyone can adv?

[Turbonetics]

you give a clear picture.

[Renegade777]

Bro, this cash rebate is not so simple or rosy as it sounds. If you take such gimmicks, you are in for a big time trouble when you want to sell. If not selling, you will continue to feed these scheme lots of interest money. Dun ever take it just because car price is cheap. Pay for the normal car price. It is just like a leech man

Edited December 8, 2007 by Renegade777

[Ahyoo2002]

[Smurfy76]

yah man.. even my PI also advice me not to go for the cash rebates cos in the end u pay more.

 

cash rabates only helpful for those with no $$ to downpayment or those who need to fork out $$ to clear their existing car.

 

but if I fall into both of the 2 situation, I would rather not buy a car.

[Cons18]

In short, nv take the value of the car to be "after cash rebates, before COE top-up" becoz it will not be the final price, coz after taking into account these 2 items, u will be paying a lot higher for the car.

 

Cash rebate

 

Eg. 3.5% interest rate (30% interest rebate scheme)

 

Latio Sedan base - 58,000

Full loan/10 yrs/Interest rebate = 6,090

 

So instead of telling u the car is 58,000, they r telling u that the price is 51,910 (58,000 - 6,090).

 

COE Top-up

 

Eg. Price of car = 58,000, COE pegged at 16,000.

 

If the COE for 17th Oct 07 rises to S$18,000, u will have to top-up the other 2k difference.

Hope this will clarify ur doubts.

 

 

Cheers!

Isaac

bro,what if the COE dropped to $12,000,will they refund the diff($4000)??

[Treesmaker]

Yes, don't bite the bait. There is no free lunch. Banks will never loose out.

Edited December 8, 2007 by Treesmaker