Help me Calculate New Car loan

[Tubecreamer]

Hi i just called up a few dealers.

 

I wish to trade in my Jun-2009 Vios J for a Kia Cerato Forte.

 

He quoted me 45k for my vios and 51k for the forte.

 

If I take it up, can someone help me:

 

1) How much must I top up?

2) What will my new monthly loan be?

[Ehchang8]

this type of thing every dealers will be able to tell u lah. it's the basic info what.

 

 

[Ix0107]

Hi i just called up a few dealers.

 

I wish to trade in my Jun-2009 Vios J for a Kia Cerato Forte.

 

He quoted me 45k for my vios and 51k for the forte.

 

If I take it up, can someone help me:

 

1) How much must I top up?

2) What will my new monthly loan be?

 

Hi Bro.

 

You need to know what is your outstanding loan for your Vios first.

 

Scenario One

 

For example;

Full settlement for your Vios SGD50,000

Offered Amt SGD45,000

Outstanding Amt SGD5,000

 

For the outstanding amount either you pay by cash or lump into your new loan.

 

If you lump into your new loan;

 

Kia Cerato Forte

Selling Price SGD51,000

Outstanding Amt SGD5,000

Interest Rate 1.99%

Interest Loan for 10yrs SGD56,000 x 1.99% x 10 = SGD11,144

Total Loan Amt SGD67,144

Monthly Installment SGD67,144 x 120mths = SGD560

 

If you DO NOT lump into your new loan;

 

Kia Cerato Forte

Selling Price SGD51,000

Interest Rate 1.99%

Interest Loan for 10yrs SGD51,000 x 1.99% x 10 = SGD10,149

Total Loan Amt SGD61,149

Monthly Installment SGD61,149 x 120mths = SGD510

 

 

Scenario Two

 

Full settlement for your Vios SGD40,000

Offered Amt SGD45,000

Outstanding Amt +SGD5,000

 

For the outstanding amount the dealer will pay you cash.

 

 

 

[Little_prince]

you siao ah? keep your vio la...

 

no diff with forte

[Ix0107]

you siao ah? keep your vio la...

 

no diff with forte

 

 

In fact, I agree too.... Anyway, it's a 09 Vios.... Only 1yr old.... Why want to sell?

[Mcf777]

TS,

is it you buy low and sell high for yr VOIS?

Unless yrs is a lemon car.

 

If not, why change to Forte

Why worry about the loan if you can afford to give up a car after 1 year plus of ownership?

Edited August 13, 2010 by Mcf777

[Tubecreamer]

Actually it is because I was deciding btw Forte and Vios at that time.

 

In e end, I chose Vios for the practical reasons. Like I do sales, need to travel 70%of the time (I clock abt 50-90km a day), n easy maintainance.

 

Then as i drive along, i do regret a bit that i din get the Forte. Then I thot, I only live life once and the COE price when I bot my vios was 5,001- quite gd.

 

So I am deciding whether to just hack it an buy the Forte now.

 

what will u do

Edited August 13, 2010 by Tubecreamer

[Ix0107]

Actually it is because I was deciding btw Forte and Vios at that time.

 

In e end, I chose Vios for the practical reasons. Like I do sales, need to travel 70%of the time (I clock abt 50-90km a day), n easy maintainance.

 

Then as i drive along, i do regret a bit that i din get the Forte. Then I thot, I only live life once and the COE price when I bot my vios was 5,001- quite gd.

 

So I am deciding whether to just hack it an buy the Forte now.

 

what will u do

 

 

Well... Personally, I wouldn't due to the high COE now...

[Tubecreamer]

Well... Personally, I wouldn't due to the high COE now...

 

bro i will be getting a 2nd hand 1 year old forte too, not a brand new one..

[Little_prince]

not worth la bro...

 

seriously.. keep the vios...

 

[Iisterry]

He quoted me 45k for my vios

 

A bit low right?

[Ericongy]

bro i will be getting a 2nd hand 1 year old forte too, not a brand new one..

 

maybe that someone used to own the forte regret after a year of driving and sell it to get a vios?

[Tubecreamer]

haha, if someone wants to exchange forte with my vios, I will gladly consider.

 

Yes bro, that fella trying to pull a fast one. I am going for at least $49k coz a Vios E is going for $55k now (sgcarmart that is. i dun on the ground how much exactly)

[Tubecreamer]

not worth la bro...

 

seriously.. keep the vios...

 

I know... practical side of me says keep it.

 

But I only live life once. So if a gd deal comes along, I may heck it and get the forte

[Kangadrool]

haha, if someone wants to exchange forte with my vios, I will gladly consider.

 

Yes bro, that fella trying to pull a fast one. I am going for at least $49k coz a Vios E is going for $55k now (sgcarmart that is. i dun on the ground how much exactly)

 

SOP. They will pay seller 10K lesser than their selling price and sell to buyer 10K more than what they're paid.

[Ichibawa]

Since you have already made up your mind then just go for it. Don't bother on how much you gonna loose or need to top up or value of new car.

[Verve]

dealers love people like you.

 

its a lose lose situation

 

pay more for an inferior car

 

dealer make 5k for your vios trade in, another 6k for your cerato purchase and 1-2k for your new loan

 

you actually lose 10 plus k regardless even if installment is the same.

 

i have driven korean and now back to vios.

 

my advise is stay with the vios, its one of the best cars in its class.

[Tubecreamer]

dealers love people like you.

 

its a lose lose situation

 

pay more for an inferior car

 

dealer make 5k for your vios trade in, another 6k for your cerato purchase and 1-2k for your new loan

 

you actually lose 10 plus k regardless even if installment is the same.

 

i have driven korean and now back to vios.

 

my advise is stay with the vios, its one of the best cars in its class.

 

 

thanks a lot bro for the assuring words.