Anyone buy car and pay FULL CASH? Why? Clever or Stupid?

[LPPL]

Car loan is one of the worst kinds of loan anybody can ever end up with. According to "Rich dad, poor dad" housing mortgage is a good debt but not car loans. Always stick to this rule...If you cannot afford to fully pay for a car, don't buy a car.

Edited March 27, 2017 by LPPL

[Throttle2]

Rich is a vast and deep definition...there are some belong to "old rich", "new rich" etc...maybe some u know them?? Hehe :) :)

KLB, S-goi, weeeeechong, ooiHL etc...

 

Ya, dream...ask for rolex advise, I say no problem..I got shi fu T2!!! Muahahaha

Dog sick how ah ??? Zzzzzz

 

U r close boss!! I know u prolly don't like a raging bull, but how about a prancing horse ?? 430 still looking a brilliant stallion or a 458 may be a worthwhile ride!! Suit U Boss :) :)

New rich like to splash, create noise.

Old rich work hard to get there, more down to earth.

I am categorised as No Rich, work hard but didnt get there, TPS.

Plse give me chance. Can only afford Vezel, Boss

[Sdf4786k]

Tan Chong required minimum loan of 30k at Int rate of 2.25% for minimum 1 year (I said 3% as I think now is higher but I don't know the exact). So one can take this minimum loan and pay int of $675 to get discount of $2000 off the car price. The loan duration is for 1 year only. Taking this minimum loan as opposed to full cash payment saves one $1325. Sorry I have confused another bro.

 

There are 2 group of people that needs a fair bit of education.

 

the first type.

 

Aiyeah 2% 3% only.. why calculate so much.... since I loan long period divide out can liao.. how much can it be right ???

 

while the add on for the loan maybe "affordable" the quantum amount for the total interest is really scary..

 

The second type.

 

I buy and then service the loan lor.. any way buy car is loose money one.. I take long term max and the NPV will be taken care off..

 

??? this is even more jiat liat IF your car kanna accident in year 2 with high CEVS.

 

The price you paid and die die if the repair cost plus structure of car with two beams damage, you have to make good of the difference. PLUS if not careful and slap on with rule 22, you looking at serious financial consequence..

 

The valuation is luan luan lye one hor. You cannot simply go SGcarmart and tell insurance guy that the Market value is 100K...

[Enye]

Your boss still stay in full paid HDB, get utilities rebate and park his full cash S-class in his HDB MSCP?

 

Multiple private properties around Singapore and overseas?

 

 

 

 

 

 

Just trying my luck

wanna get utility rebate cannot own other properties besides hdb

 

elite professional dunno is ok..., since you stay atas condo

 

 

[Vratenza]

Aiyah... U dunnoe son/daughter, extra son/daughter, father mother name also can be use as proxy to buy investment properties one meh? Am surprise leh....

 

If the boss can stash such large wads of "pocket money" in his drawer accessible by his employee. What makes you think that he has no way of hiding it from the taxman?   

 

700k Elite know these limitations HDB cos planning or already upgraded?   

 

wanna get utility rebate cannot own other properties besides hdb

elite professional dunno is ok..., since you stay atas condo

[leehock13828]

Car loan is one of the worst kinds of loan anybody can ever end up with. According to "Rich dad, poor dad" housing mortgage is a good debt but not car loans. Always stick to this rule...If you cannot afford to fully pay for a car, don't buy a car.

How many consumers actually think like you? Very few

Tan Chong required minimum loan of 30k at Int rate of 2.25% for minimum 1 year (I said 3% as I think now is higher but I don't know the exact). So one can take this minimum loan and pay int of $675 to get discount of $2000 off the car price. The loan duration is for 1 year only. Taking this minimum loan as opposed to full cash payment saves one $1325. Sorry I have confused another bro.

Now is 2.68 for 2 yrs

[ccc888]

I am easily contented, imo got steady monthly nett passive income of $5k, i am happy already. Not scare kena retrench.

[DC1977]

I am easily contented, imo got steady monthly nett passive income of $5k, i am happy already. Not scare kena retrench.

happy bird lo.....nett passive income $5K!!! nett active income $10K..wow...total $15K!!!!!

 

song song jiak lemon liao la...

[Sunny]

I am not sure your definition of "rich"

Most of The real RICH I classify as "RICH". Yes, the real really rich!

I believe they do not have time for car forum and stuffs.

A typical way they buy cars

1. Select a brand and model of their choice.

2. Ask friends etc...for any contact.

3. Call up for price etc...over phone or email

4. If price ok, confirm on colors & options etc..over phone or email

5. Arrange collection of payment at their convenience.

6. Delivery of car at their residence or convenience.

 

And if below conditions are fulfilled, yes...these buyers I classify as REAL REAL RICH

1. They do no ask nor need to test drive.

2. Never ask about loan or interest rates etc..whoever serving will not ask too cos it really lowers ones standard & integrity when serving such level of customers.

3. They do not need and never step into the showroom.

 

So ya....:)..wanna impose loan blah blah etc...$15k is really really spare change but not happy no buy..very simple. I am not sure but Try asking a ferr@ri buyer saying minimum loan required, he may not buy anymore prancing horse forever in a lifetime at all...and lost forever...more than 1 car..these are people who change car frequently..lose a California, 458, 488, F12 etc..every new model they will buy.

I don't need to test drive.

Don't like it

 

I don't like go new launch

 

Don't like go showroom if not intending to buy car

 

If price right...then go sign (free wifi)

 

 

 

But not rich at all

[Evillusion]

I feel so poor...

[Vinceng]

Car loan is one of the worst kinds of loan anybody can ever end up with. According to "Rich dad, poor dad" housing mortgage is a good debt but not car loans. Always stick to this rule...If you cannot afford to fully pay for a car, don't buy a car.

No need so drastic.

 

If no loan is allowed for COE, high chance it may dip to $10K

[Throttle2]

happy bird lo.....nett passive income $5K!!! nett active income $10K..wow...total $15K!!!!!

 

song song jiak lemon liao la...

 

Woooh yah boh?

$15k you wow already?

 

Mai keh keh leh

[Fuelsaver]

How I wish is my drawer..

Hmmm must b ur cfo drawer..

[Aaronlkl]

My boss table always untidy!

[Wyfitms]

Lol he money changer or...

[DC1977]

My boss table always untidy!

lai liao lo...pay full cash wahhhhhhh.......super messy le.....

[Enye]

My boss table always untidy!

 

i think you work for washing machine company

 

I don't need to test drive.

Don't like it

 

I don't like go new launch

 

Don't like go showroom if not intending to buy car

 

If price right...then go sign (free wifi)

 

 

 

But not rich at all

[Sunny]

i think you work for washing machine company

 

 

fwah....like a big boss

 

buy watch, buy car, buy property all no need to look

 

like just buy

 

 

 today you very free hor?