Any pointers for help in buying a car

[Cyberdick]

I am interested to get either a Toyota Estima or a Honda Accord as I do not have any problem with installment & running cost but unfortunately I was restricted in getting one because of an old bad credit record.

 

Can anyone give some pointers as to how I can get to own one with $0 drive off?

[Taxi]

what is your definition of old bad credit record?

[Nf0rc3r]

den go to the bank directly talk to loan officer. explain ur situation. show him ur income. show him ur bank account balance. prove u got no problems paying at all.

and explain properly why u had a bad credit record. (with a reasonable reason of cos, like family emergency need to pay for operation. not stupid reasons like no money, forgot.)

 

If still reject tell officer u dun mind higher interest rate.

 

u r high risk. so dun expect 2% like everyone else.

Edited September 11, 2010 by Nf0rc3r

[Tigerwoods]

DP 50% and you get your loan approved...

[Djdp]

get in house loan lor

[Jordanplus]

U want $0 drive off sound like u don't have any saving, $0 drive away....? No such thing at least u need few $k (min 2k) for booking fee & 1st month instalment & insurance (some dealer may offer free for 1st year).

Pay cash......but I don't think so.......

[Tigerwoods]

Ability to Afford a car = have DP of 20~30% + able to pay installments of max 7 years.

If don't have the complete equation = you are not ready.

[Kano]

Maybe try Tokyo leasing?

 

Do they check your credit rating?

[Picanto]

Maybe try Tokyo leasing?

 

Do they check your credit rating?

 

 

of course

[Sologuy10]

I am interested to get either a Toyota Estima or a Honda Accord as I do not have any problem with installment & running cost but unfortunately I was restricted in getting one because of an old bad credit record.

 

Can anyone give some pointers as to how I can get to own one with $0 drive off?

 

[5936]

Sorry, I dont get it.

 

All my purchses are downpayment usually 10% and installment arrangement.

 

 

[Kano]

Maybe try Tokyo leasing?

 

Do they check your credit rating?

 

But Tokyo Leasing are not affiliated to the credit bereau. They have no access to check the hirers credit rating except for banks and the participating institutions like hong leong and singa finance.

 

[Kiadaw]

Ability to Afford a car = have DP of 20~30% + able to pay installments of max 7 years.

If don't have the complete equation = you are not ready.

 

I wouldn't be so quick to judge, maybe he wanted to use the money to invest, or whatever reason.

 

I think Nf0rc3r suggestion is the best approach.

[Cyberdick]

Old bad credit record was because of a business failure that resulted in a bankruptcy some 5 years ago and now alredy a discharged for more than a year. Currently workng in a MNC and drawing around 8K with allowance from Company for transportation. Expected to pay upfront a few Ks byt not definitely 10s of Ks. Need the car for work and for foreign visitors to ferries them around.

 

Any real good opportunity for owning 1?

[Kiadaw]

Old bad credit record was because of a business failure that resulted in a bankruptcy some 5 years ago and now alredy a discharged for more than a year. Currently workng in a MNC and drawing around 8K with allowance from Company for transportation. Expected to pay upfront a few Ks byt not definitely 10s of Ks. Need the car for work and for foreign visitors to ferries them around.

 

Any real good opportunity for owning 1?

 

I think your pay is more than comfortable for the price range of car you are thinking of getting. What you need to show the bank is your income statement, & show that your job is stable (like company is healthy, not shifting to other cheaper countries anytime soon, your position is safe, say got promoted recently)

 

Why not speak to a bank officer? You need me to recommend you one?

[Cyberdick]

Sure, any help is very much appreciated