VES 2018

[Insaneguy]

60% of car price at 6 years is a lot of extra interests, even if full payment with rule 78 after 2 two years!! 

 

 

 

just for reference, KM can go full cash zero loan, the AD freebies like warranty, servicing, dash cam, mats, road tax all still the remain unchanged

 

only difference is the additional SE's own pocket freebie (if any) will be lesser. 

 

Oh wow didn't know KM so good can accept full cash and still include their full freebie package

 

I think most other ADs the car promo price and freebies will only be valid if sign up their standard loan amt   ?

[flikmy]

Oh wow didn't know KM so good can accept full cash and still include their full freebie package

 

I think most other ADs the car promo price and freebies will only be valid if sign up their standard loan amt   ?

 

I think Volvo is the same as well. Full cash without any charges.

 

For Subaru, they've stated in their T&C that prices are assuming buyers take a loan.

Else, paying in full cash will increase the listed price by 2.5k.

However, they do allow for 1 year minimum 30k loan.

[therock]

I think Volvo is the same as well. Full cash without any charges.

 

For Subaru, they've stated in their T&C that prices are assuming buyers take a loan.

Else, paying in full cash will increase the listed price by 2.5k.

However, they do allow for 1 year minimum 30k loan.

Volvo / Wearnes charges a lot they also make $$ from loans.

No one will do things for charity.

Kah has the margins so they can offer loan free prices.

A Honda Civic costs about 5-10k more than a comparable Corolla. That goes towards 'loan free' arrangements and COE bids. Not a bad thing, so long as you know what you are getting into.

[TangoElite]

Logic is very simple. There is no free lunch in this world.

Some SE's are relatively easy going, but some "hang themselves so high up".

SEs are human beings too, they also need to make a living.

Is very simple, buyers help them, they help U !!

Everything is flexible and can be discussed!!

Money is the root of all evil but money can do many wonders too!!

It's a 2 way thing, got give got take!!

So it's important to know what kind of SE u r dealing with..help those who are "easy- going" with a "kinder heart", they know how to help u too..even in the long run.

Do not need to spell out so clearly..but below 3 principles as a guide.

1. Know who and what kind of SE u r dealing with

2. "Got give got take" principle. We help them, they help us.

3. Long run relationship not just about 1 time buying car.

 

Car industry already so complex..if buying a car can make the SE your friend than that will be good!!

 

yes well said, must size up the SE, and cannot too noob in terms of car terms, if not might get carrot

 

 

anyway better to have SE as a friend/peer, kindness begets kindness

buying car doesn't mean customer is big F**K

[Heartlander]

just for reference, KM can go full cash zero loan, the AD freebies like warranty, servicing, dash cam, mats, road tax all still the remain unchanged

 

only difference is the additional SE's own pocket freebie (if any) will be lesser. 

 

This one I can attest to it, after talking to a SE recently. Very impressed!

 

There is no financial rebate for taking loan, thus no penalty for not taking loan. Definitely great to encourage customers to go debt-free if they are able to.

[Skymax]

60% of car price at 6 years is a lot of extra interests, even if full payment with rule 78 after 2 two years!!

 

 

 

just for reference, KM can go full cash zero loan, the AD freebies like warranty, servicing, dash cam, mats, road tax all still the remain unchanged

 

only difference is the additional SE's own pocket freebie (if any) will be lesser.

What's the penalty for early redemption?

[TangoElite]

What's the penalty for early redemption?

 

assuming a 100k loan for 6 years at 2.5%

 

the total interest over 6 years is $15k

 

 

Earliest possible time the bank allows to redeem the loan in full cash is usually after 2 years

 

 

Using rule 78, the interest rebate is only $6,712.33

And there is usually a 20% penalty on the rebate, amounting to $1,342.47

 

Therefore total effective interest paid over 2 years is $9,630.14, that's 64% of the 15k interest!!

 

therefore topping up 4k penalty for not taking loan is much more worth it in this example

[therock]

Nice maths

Can you do the calculation on a 3 year loan at 2.78?

Thanks

[Pocy]

assuming a 100k loan for 6 years at 2.5%

 

the total interest over 6 years is $15k

 

 

Earliest possible time the bank allows to redeem the loan in full cash is usually after 2 years

 

 

Using rule 78, the interest rebate is only $6,712.33

And there is usually a 20% penalty on the rebate, amounting to $1,342.47

 

Therefore total effective interest paid over 2 years is $9,630.14, that's 64% of the 15k interest!!

 

therefore topping up 4k penalty for not taking loan is much more worth it in this example

Superb service bro

[TangoElite]

Nice maths

Can you do the calculation on a 3 year loan at 2.78?

Thanks

 

 

Assuming 100k 3 year loan at 2.78%,

the total interest over 3 years is $8,340

 

Redeem loan at end of 2 years:

Interest rebate is $976.76

assuming 20% penalty for early redemption:  $195.35

 

Effective interest paid at end of 2 years is $7,558.59, which is 90%!!

[Leo22]

Assuming 100k 3 year loan at 2.78%,

the total interest over 3 years is $8,340

 

Redeem loan at end of 2 years:

Interest rebate is $976.76

assuming 20% penalty for early redemption: $195.35

 

Effective interest paid at end of 2 years is $7,558.59, which is 90%!!

Please correct me if I am wrong.

 

Based on this example, able to save 10% (of total interest) if early redemption at end of year 2.

Right?

[TangoElite]

Please correct me if I am wrong.

 

Based on this example, able to save 10% (of total interest) if early redemption at end of year 2.

Right?

 

 

that's another way of looking at it

 

but you already paid most of the interest already, ie. already taken the big hit

 

pay off the loan at this stage is not making much of a difference, in fact the  $35k+ you need to pay off the loan can easily make more than the 10% which is about $800 over a year.

 

therefore probably better to leave it there and invest the 36k elsewhere that can return more than 2.2% pa.

[therock]

Yeah settle within 6 months if you can..

[Leo72]

Nicely strung across. White clothes gangsters!!!

U got all the G's aptly correct!! Gov3rnm3nt, Garbagement, Gangsters. All equivalent in my dictionary of thesaurus synonym.

 

Check out the definition of gangster - impose & use force without any fair reasoning with or without violence.

 

Wat is worst is when it is done through "legal law" means and a blanket thrown paradigm money spinning sucking machine !!

 

Gangsters are synonymous with "force". When we have no "say" or a voice of opinion risks ending up to squat behind polishing bars, wat does this equate to ? Basically, tow and tug the line or ship out. Follow rules or join the 2nd 3rd class countries.

 

Fear + Force ( by law ) = gangsterism + power + $$$$

 

Atypical formula used since "father's" days. Sales Track record proven so formula will never change, unless proven otherwise.

hmm... Not being force lor..  The government is given the authority to do those changes by the 70% who voted for them. We all got the say during the GE but 70% already voted yes to whatever will be serve out during the government 5 years term.

[Skymax]

Confirm the penalty surcharge goes into the SE pocket? If so must squeeze him harder for freebies!

[Eyke]

Confirm the penalty surcharge goes into the SE pocket? If so must squeeze him harder for freebies!

 

SE only collect comms at sale of car, whatever happens after is no their bizness

[Ahgong]

Spoke to a close fren from LTA. Didnt divulge much but i was 'advised' to forget abt diesel cars even before 2018 b4 VES kicked in cos the hammer will drop harder on them in years to come. The AD may reduce the prices by a lot but the increase taxations in pipelines will cost more in long run. That is so much he is willing to say.

 

丰田 will be the fav 2 words

 

hmm... my experience with this brand not that good leh.

no doubt their fuel efficiency is good, which largely rest on the fact that their body is light. So the engine is lugging around lesser weight resulting in burning lesser fuel thus translating to lesser emissions, particles and other whatnots.

 

but come one accident, the car is really totaled!

as in FLAT! PANCAKE! CHUI!

[therock]

hmm... my experience with this brand not that good leh.

no doubt their fuel efficiency is good, which largely rest on the fact that their body is light. So the engine is lugging around lesser weight resulting in burning lesser fuel thus translating to lesser emissions, particles and other whatnots.

 

but come one accident, the car is really totaled!

as in FLAT! PANCAKE! CHUI!

If the car is flattened, but you can emerge from it unscathed, it's still worth considering.. the question is whether our safety compromised Borneo versions will still give the same protection..