Hi bros.noob here need explanation

[Oooooooi]

hi bros.i really would consider myself to buy a 2ndhand car.car which im looking at is hyundai getz 1.1m which cost abt 18k for the opc yr 2006 registered car.i'll be taking the OPC scheme cause my work is shift work,so i dont really need to drive during 7am to 7pm.and other than the cost of the loan per month,what other cost should i consider monthly that can seriouly damage my wallet??like insurance??cause i dont really know how the system works here as im a foreigner.thanks so much bro for u explanation,really appreciate it =)

[Mini-itx]

Quite a few things need to pay

 

1. Parking, season parking

2. Petrol

3. Maintenance, like changing oil etc....

4. Road tax

5. Insurance

6. Installment (if any).

7. Veh Transfer fee

8. Dealer processing fees (if buying form dealer). Must bargain, don't get chopped.

9. Fines.... You will definitely kana fines once in a while, parking fines etc....

 

If possible, I recommend you to buy direct from owner instead of dealer.

 

Forget to add: If using in day, !!REMEMBER TO PAY $20!! Its extremely serious if you forget. AFAIK, 1st offence is $5K fine.....2nd offence $10K..... Kana twice 15K gone already...

Edited September 27, 2010 by Mini-itx

[Civic93porsche911]

http://www.mycarforum.com/index.php?showtopic=523867&hl

 

 

U can refer to this thread to get a rough idea of all the costs..

Edited September 27, 2010 by Civic93porsche911

[Oooooooi]

thx for the fast reply bros.but 1 thing,if i juz took my lisence this yr and im 21 yrs old this yr,roughly how much will the insurance be??izit paid by installment over the year or must pay 1 big lump sump at the end of every yr?

actly i drive in my hometown,but since i went back only abt 2times every yr for the last 10 yrs,therefore i cant really convert my foreign lisence.will they take into account the driving experience i had in my hometown for the insurance??thx bross =)

[Oooooooi]

but i cant come up with a huge lump sum of money to buy cash frm owner bro.or bank loan is a solution to buyin frm owner??=)

[Civic93porsche911]

Yeah u can get bank loan to buy from owner.. and if im not wrong u can include yr first INS into that loan too..

[Civic93porsche911]

And you cant pay Insurance monthly.. got to be lump sum at every renewal..

[Moredhel]

  On 9/27/2010 at 9:00 AM, Oooooooi said:

thx for the fast reply bros.but 1 thing,if i juz took my lisence this yr and im 21 yrs old this yr,roughly how much will the insurance be??izit paid by installment over the year or must pay 1 big lump sump at the end of every yr?

actly i drive in my hometown,but since i went back only abt 2times every yr for the last 10 yrs,therefore i cant really convert my foreign lisence.will they take into account the driving experience i had in my hometown for the insurance??thx bross =)

 

Insurance is paid as a lump sum. At least mine is.

 

For a 21 y/o foreigner, I dare say your insurance would be pretty high. Also depending on what car you're driving, sports/2door/turbo/coupe/ are all additional costs. Would probably in the 3k plus 4k region for a b&b. Bros correct me if I'm wrong.

 

For previous driving experience in your hometown, I would recommend you take the Singapore Driving License as I doubt driving in SG would be anything close to what you are used to in your hometown. Would also be a good chance to orientate yourself with SG roads and driving styles so additional accidents are avoided.

[Mini-itx]

  On 9/27/2010 at 9:02 AM, Oooooooi said:

but i cant come up with a huge lump sum of money to buy cash frm owner bro.or bank loan is a solution to buyin frm owner??=)

 

You don't need to pay in full to buy form owner, can always take loan. But you have to apply yourself. You can choose banks to take loans from of finance companies.

 

One company I did deal before is Lian Hong Pte Ltd. Pretty good service. You can try giving them a call.

 

http://pitstop.------.com/merchant_info....p;postalsector=

[Mini-itx]

Btw, things you need to do and pay:

 

1. Insurance

2. Transfer fees

3. Road Tax (6 months or 1 year if expired)

4. Inspection (if needed)

 

For transfer fees, you need to go down to LTA with the owner and do the transfer, then pay up on the spot and the car is yours.

 

When your loan is approved, the finance company will pass you the cheque containing the amount to pass to the owner. Then you just pass the $$$ to the owner and owner will release the car.

[Mini-itx]

Bro, if you want to save $$$, get a COE car instead and 3rd party w/o fire and theft insurance. Much cheaper.

[Passion]

Why not you tell us how much you earn?We calculate for you?Looks like you want to own a car than need to own a car.At age 21,insurance can go up to 4k a month,even for a 1.1 Getz.

[Little_prince]

  On 9/27/2010 at 9:09 AM, Civic93porsche911 said:

And you cant pay Insurance monthly.. got to be lump sum at every renewal..

 

actually insurance CAN be paid by instalment... pls get your facts right

 

http://www.income.com.sg/promo/index.asp

Edited September 27, 2010 by Little_prince

[Majordan]

use your father's name to buy the car la... insurance much cheaper

 

21 yrs old can buy car liao ah? kids these days very good life

[Civic93porsche911]

wow, din know got such thing. anyway wouldent recommend ntuc, their premiums are too high..

[Little_prince]

Hmmm... high meh?

 

last time used to be quite ok...

[JX83]

Ya won't recommend the ntuc income very high price to pay..

[Oooooooi]

thanks so much bros for the reply.im earning about 2k in a month.staying wise,my father pay for me.therefore 2k is for my personal expenses.haha and would really get a car,cause it can save lots of my time cause im thinking to get part time degree.

btw mini itx bro,wht u mean by "get a COE car instead and 3rd party w/o fire and theft insurance" care to elaborate more bro??hehehe

and will it be ok if i buy the car under my friend name,cause insurance wise will be cheaper =)

thx again bross for the answer,really appreciate it