Steven Lim wanna buy used Ferrari or used car with $78K in his bank

[Albeniz]

Social media influencers who bought expensive cars just to fluant it.

I hope they don't end up having to do a crowd funding to pay for an engine oil change.

 

Edited October 31, 2020 by Albeniz

[Albeniz]

On 10/30/2020 at 4:22 PM, Mockngbrd said:

78k with fully paid up house. Not bad la. Good for him.  If me, I will go for holiday. Or DP a house in Japan countryside, rent out SG house for pocket $$$. 

Is he still staying in Ang Mo Kio?

[Mockngbrd]

1 hour ago, Albeniz said:

Is he still staying in Ang Mo Kio?

Ask radx 

[13177]

3 hours ago, Albeniz said:

House fully paid and he has 78k.

After so many years, steven gor gor should consider settling down and getting married.

Change his image, wear a suit and with a coe-renewed E250, he could be the Founder of a new online marketing or training course like Germaine, Chloe, Sean etc.

He can also teach ppl how to be successful.

He has a fully paid house? That’s very good.

[Xeryh]

A lot of people under estimated him, and I do think he has way more than 78k in his bank account. Just by doing those short 1min bday wishes gags already netted him a good 50-60k.

[inlinesix]

Steven Lim went to HK?

[boonhat_91]

On 10/31/2020 at 9:14 PM, Albeniz said:

Social media influencers who bought expensive cars just to fluant it.

I hope they don't end up having to do a crowd funding to pay for an engine oil change.

 

The worst thing is, these influencers' followers will gladly contribute.

[Sdf4786k]

On a seperate note, if you earns less then 4500 a month....

When project engineer David stumbled on the chance to buy a second-hand car without down payment, he felt that it was too good a deal to miss.

David (not his real name) was earning about $4,500 a month and could not afford a new car, as he would need to pay cash for at least 30 per cent of the price.

https://www.straitstimes.com/business/invest/second-hand-car-purchase-led-to-7-years-of-paying-debt

 

[Throttle2]

[Kopites]

9 minutes ago, Sdf4786k said:

On a seperate note, if you earns less then 4500 a month....

When project engineer David stumbled on the chance to buy a second-hand car without down payment, he felt that it was too good a deal to miss.

David (not his real name) was earning about $4,500 a month and could not afford a new car, as he would need to pay cash for at least 30 per cent of the price.

https://www.straitstimes.com/business/invest/second-hand-car-purchase-led-to-7-years-of-paying-debt

 

Premium article for premium member only ...I can't read bros!

[Ody_2004]

19 minutes ago, Kopites said:

Premium article for premium member only ...I can't read bros!

When project engineer David stumbled on the chance to buy a second-hand car without down payment, he felt that it was too good a deal to miss.

David (not his real name) was earning about $4,500 a month and could not afford a new car, as he would need to pay cash for at least 30 per cent of the price.

In this case, he found a used-car dealer who would let him drive away an old car while paying almost nothing upfront of the $9,000 price.

David, 39, was given a car loan for the whole amount on the spot, with a monthly repayment sum billed to his credit card. That day, all he had to pay for were the insurance, road tax and transfer fee, which he charged to his card.

Since he did not feel he was spending much, he also signed up for a car servicing package.

David, who is single, lives with his parents and a younger sister.

His family did not know he was planning to buy a car until he told them about his purchase during dinner that night.

"They advised me not to spend on unnecessary items, but I just turned a deaf ear," he says.

The experience of being able to own a car with just a few swipes of his credit card made him feel good. He began to use his plastic more often, splurging on fine dining, entertainment and shopping.

"I should have planned my budget in a prudent manner, resisted and walked away from temptation. But sadly, I didn't," he says.

This went on for months until he finally hit the credit limit and could not spend any more.

By then, he knew he was in trouble. Not only could he not reduce his debt, there were months when he skipped repayment totally.

This resulted in a series of legal letters as the bank threatened to sue him.

He recalls: "It was dreadful. My work was also not going smoothly and the problems started to escalate.

"As a result of my carelessness, the little debt snowballed to a bigger one."

Initially, he did not realise the gravity of his situation and borrowed from licensed moneylenders to cover his daily expenses.

"I also tried to borrow from friends and relatives but was rejected. In all, I owed the creditors about $48,000."

He finally turned to Credit Counselling Singapore (CCS) for help, after creditors turned up at his home and passed a letter of demand to his parents.

David knew he had to solve his own problem because his father, who is self-employed, could take care of only the family's expenses but not his debt.

CCS counsellors helped him work out a budget for daily expenses as well as a monthly repayment plan for all his creditors.

"Initially, it was quite tough, but I felt more relieved as I could work out my repayment plan and budget accordingly," he recalls.

"I had to watch my spending and cut unnecessary expenses on entertainment, which would have incurred more cost."

David's financial nightmare began seven years ago.

After more than 80 months of paying down his debts, he was finally cleared of all debts in February this year.

"I am really thankful to CCS that I am debt-free now. This has taught me that we should all live within our means and stick to a budget.

"And if you face any difficulty with your debt, do seek help immediately and not try to avoid it like how I did initially, because the problem will not go away."

[13177]

  Earn $4500 and he buy an old car also cannot afford to pay? 🤔

[Kopites]

45 minutes ago, Ody_2004 said:

When project engineer David stumbled on the chance to buy a second-hand car without down payment, he felt that it was too good a deal to miss.

David (not his real name) was earning about $4,500 a month and could not afford a new car, as he would need to pay cash for at least 30 per cent of the price.

In this case, he found a used-car dealer who would let him drive away an old car while paying almost nothing upfront of the $9,000 price.

David, 39, was given a car loan for the whole amount on the spot, with a monthly repayment sum billed to his credit card. That day, all he had to pay for were the insurance, road tax and transfer fee, which he charged to his card.

Since he did not feel he was spending much, he also signed up for a car servicing package.

David, who is single, lives with his parents and a younger sister.

His family did not know he was planning to buy a car until he told them about his purchase during dinner that night.

"They advised me not to spend on unnecessary items, but I just turned a deaf ear," he says.

The experience of being able to own a car with just a few swipes of his credit card made him feel good. He began to use his plastic more often, splurging on fine dining, entertainment and shopping.

"I should have planned my budget in a prudent manner, resisted and walked away from temptation. But sadly, I didn't," he says.

This went on for months until he finally hit the credit limit and could not spend any more.

By then, he knew he was in trouble. Not only could he not reduce his debt, there were months when he skipped repayment totally.

This resulted in a series of legal letters as the bank threatened to sue him.

He recalls: "It was dreadful. My work was also not going smoothly and the problems started to escalate.

"As a result of my carelessness, the little debt snowballed to a bigger one."

Initially, he did not realise the gravity of his situation and borrowed from licensed moneylenders to cover his daily expenses.

"I also tried to borrow from friends and relatives but was rejected. In all, I owed the creditors about $48,000."

He finally turned to Credit Counselling Singapore (CCS) for help, after creditors turned up at his home and passed a letter of demand to his parents.

David knew he had to solve his own problem because his father, who is self-employed, could take care of only the family's expenses but not his debt.

CCS counsellors helped him work out a budget for daily expenses as well as a monthly repayment plan for all his creditors.

"Initially, it was quite tough, but I felt more relieved as I could work out my repayment plan and budget accordingly," he recalls.

"I had to watch my spending and cut unnecessary expenses on entertainment, which would have incurred more cost."

David's financial nightmare began seven years ago.

After more than 80 months of paying down his debts, he was finally cleared of all debts in February this year.

"I am really thankful to CCS that I am debt-free now. This has taught me that we should all live within our means and stick to a budget.

"And if you face any difficulty with your debt, do seek help immediately and not try to avoid it like how I did initially, because the problem will not go away."

"In this case, he found a used-car dealer who would let him drive away an old car while paying almost nothing upfront of the $9,000 price."

Nothing to do with car. Is his own spending habit / pattern not prudent to say the least.

Another point can't afford 9k and seeking to own a car? 🤔 

Wrong headlines by straitimes.

[Mooose]

is there something odd?

earn $4500 a month buying a $9000 car but having trouble paying?

if monthly he pays $1000 then 1 year already pay $12000 ..

[Jamesc]

Where to buy a $9000 car?

Don't tell me left one year COE only?

[1fast1]

1 hour ago, Sdf4786k said:

On a seperate note, if you earns less then 4500 a month....

When project engineer David stumbled on the chance to buy a second-hand car without down payment, he felt that it was too good a deal to miss.

David (not his real name) was earning about $4,500 a month and could not afford a new car, as he would need to pay cash for at least 30 per cent of the price.

https://www.straitstimes.com/business/invest/second-hand-car-purchase-led-to-7-years-of-paying-debt

 

He fell in love with plastic. 

So did I. 

Except mine is Mariya Takeuchi. 🥰

 

 

 

[1fast1]

25 minutes ago, Mooose said:

is there something odd?

earn $4500 a month buying a $9000 car but having trouble paying?

if monthly he pays $1000 then 1 year already pay $12000 ..

It's not just the car.

"The experience of being able to own a car with just a few swipes of his credit card made him feel good. He began to use his plastic more often, splurging on fine dining, entertainment and shopping.

"I should have planned my budget in a prudent manner, resisted and walked away from temptation. But sadly, I didn't," he says.

This went on for months until he finally hit the credit limit and could not spend any more."

In other words, he's an idiot.

[Throttle2]

3 hours ago, 13177 said:

  Earn $4500 and he buy an old car also cannot afford to pay? 🤔

Yalor, people $4500 buy condo also can pay, chey