How much loan do luxury car buyers usually take?

[Nzy]

I dun get it. u spend so much of your allowance to get a cheap car and it doesn't give you the wow factor since it is not an expensive ride after all

 

To them its still a car after all. Depends on who you ask. Those that I know who do this are usually those whose family don't have a car yet. They feel its a big deal that they got a car.

[Chucky2007]

wahh u r very rich le, i only can afford a full cash camry back in 2010, and can only dp half of A8, anything more my pocket not big enough

U r richer than throttle.. 20+ year old can pay full cash for camry.. I think throttle wouldn't do that when he is in his early 20s

[Wt_know]

definitely got especially 100% 1.88% 10 years loan

 

that's why govt chut pattern 50% 3.25% 5 years loan to stop people over leverage

 

30k income=2.5k permonth? Got people really earn 2.5k and buy new bmw meh?

Edited March 3, 2013 by Wt_know

[Yeshe]

U r richer than throttle.. 20+ year old can pay full cash for camry.. I think throttle wouldn't do that when he is in his early 20s

 

knn... u suan him for using parent's $$$ ah??? [laugh]

[Thaiyotakamli]

U r richer than throttle.. 20+ year old can pay full cash for camry.. I think throttle wouldn't do that when he is in his early 20s

No i an talking bout my parent lol

Now i only can afford full cash gmt ll

[Nonewposts]

even i earn 400-500k i wont go for a lambo/ferrari, rather use money to buy another condo. car max i own will be s class or 7 series or porsche if looking for speed and any higher than that is a waste of money

 

i know of someone earn 300k but drive camry(bought new in 2008 for 95k).

[Aerosmith]

i know one wise wealthy man who told me that you should always take maximum loan for a car as long as you have the ability to beat the interest.

he told me even though he is wealthy enough to buy the lambo in cash, he still takes full loan because

1) loan interest rate is relatively low

2) he can otherwise use the cash to invest and earn more than the interest accrued.

 

same with my friend uncle, his wealth around 300 million but he always buy property in maximum loan. but in 2006, the situation was different back then, there was no measures by government then, he bought a few condo in cash and sold them asap to make huge profits (called flipping), again, this is in line with the principle.

 

anyway, just my 2 cents.

[Chucky2007]

knn... u suan him for using parent's $$$ ah??? [laugh]

Was I? He said "he paid", not "his parent paid".. I dun have $$$ to even fully pay up for a starlet when I'm in my early 20s..

[Chucky2007]

No i an talking bout my parent lol

Now i only can afford full cash gmt ll

I see.. unless yr parents have millions of dollars sitting idling in the bank, no point spending $ on any car more expensive than a 450h

[Throttle2]

i know of someone earn 300k but drive camry(bought new in 2008 for 95k).

 

Thats just right.

Whats the big deal?

[Kiadaw]

i know of someone earn 300k but drive camry(bought new in 2008 for 95k).

In many other places, your choice of car (unless you talk about high end Porsche, or Ferrari) are more of a lifestyle choice than how rich you are. My boss (2 level up) take a bus to work normally, as he said the bus stop is near his house, very convience, also he uses his daughter account to get discount for Photoshop elements.

 

In many places, people just do not seeing cars as a status symbol like in Singapore or Asia, 'If you are rich you must show people, buy expenisve cars, wear expensive clothes!. If you buy something, cannot ask for discount or something, if not lose face, & means you are not rich...'

 

You can have muliti millionares taking train/subways to work every day, or carpool, not a big deal at all in many cities, as trains are most time more convienice. You do not get classiy as being 'poor' if you took public transport like in SG.

[Throttle2]

i know one wise wealthy man who told me that you should always take maximum loan for a car as long as you have the ability to beat the interest.

he told me even though he is wealthy enough to buy the lambo in cash, he still takes full loan because

1) loan interest rate is relatively low

2) he can otherwise use the cash to invest and earn more than the interest accrued.

 

same with my friend uncle, his wealth around 300 million but he always buy property in maximum loan. but in 2006, the situation was different back then, there was no measures by government then, he bought a few condo in cash and sold them asap to make huge profits (called flipping), again, this is in line with the principle.

 

anyway, just my 2 cents.

 

 

"I once know...blah blah blah"

"My friend uncle ...blah blah blah"

 

 

How about my auntie's neighbors father's dog?

 

 

*yawn*

 

[Arowana1]

"I once know...blah blah blah"

"My friend uncle ...blah blah blah"

 

 

How about my auntie's neighbors father's dog?

 

 

*yawn*

 

 

why suan his post? his first sentence the most accurate statement in all the debates going around on dp, ltv, etc.

[Aerosmith]

"I once know...blah blah blah"

"My friend uncle ...blah blah blah"

 

 

How about my auntie's neighbors father's dog?

 

 

*yawn*

 

 

i did not get your point.

are you saying the principle is wrong? or are you saying that i am lying.

because even if i say i am that wealthy man, would you believe?

i am just trying to help the thread starter here with his question. does your immaturity grow with your post count?

[Thaiyotakamli]

i know of someone earn 300k but drive camry(bought new in 2008 for 95k).

His 95k camry should be bought in full cash

Unlike the lambo owner bought 2nd hand with 95k dp

[Fastfive1]

i know one wise wealthy man who told me that you should always take maximum loan for a car as long as you have the ability to beat the interest.

he told me even though he is wealthy enough to buy the lambo in cash, he still takes full loan because

1) loan interest rate is relatively low

2) he can otherwise use the cash to invest and earn more than the interest accrued.

 

same with my friend uncle, his wealth around 300 million but he always buy property in maximum loan. but in 2006, the situation was different back then, there was no measures by government then, he bought a few condo in cash and sold them asap to make huge profits (called flipping), again, this is in line with the principle.

 

anyway, just my 2 cents.

 

maximum loan is stupid and the reason why COE prices went so high.

Use basic knowledge of the fiscal policy and you'll see.

buying things on credit is more for doing business where you are attempting to make a profit from your sales.

i don't think you're buying a car to make a profit now are you?

[Thaiyotakamli]

I see.. unless yr parents have millions of dollars sitting idling in the bank, no point spending $ on any car more expensive than a 450h

Hmm diff people have diff choice of lifestyle

My parent prefer to buy a nice car then have more savings, maybe in their eye car somehow like an asset

[Thaiyotakamli]

i know one wise wealthy man who told me that you should always take maximum loan for a car as long as you have the ability to beat the interest.

he told me even though he is wealthy enough to buy the lambo in cash, he still takes full loan because

1) loan interest rate is relatively low

2) he can otherwise use the cash to invest and earn more than the interest accrued.

 

same with my friend uncle, his wealth around 300 million but he always buy property in maximum loan. but in 2006, the situation was different back then, there was no measures by government then, he bought a few condo in cash and sold them asap to make huge profits (called flipping), again, this is in line with the principle.

 

anyway, just my 2 cents.

I also have an uncle with 300m wealth, are talking the same uncle, are we cousin then?