Should We Buy Car With Cash?
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 Sep 17 2011, 02:46 AM
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#1
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Junior Member
17 posts Joined: Jan 2008 From: Sungai Petani,Penang,Sunway, Klang..   
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depends bro..
for me la..if i got 120k in hand.. i will spend 30% or max 50% of my cash.. i like keep money if hand.. car loan for me is if can buy the whole car but must left enough cash in hand. if not pay higher down payment and make it shortest.. |
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Sep 17 2011, 03:13 AM
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#2
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Junior Member
17 posts Joined: Jan 2008 From: Sungai Petani,Penang,Sunway, Klang..
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bro..simple calculation here..
if the car value at 60k.. then interest rate is 3%(exp only) then every year you need pay 1.8k.. so if take 9yr loan then you need pay extra 16.2k.. so total value of the car will be 76200. beside that, take 9yr loan,if you got plan after a few year you use that car,its better to take shorter loan because if you take 9yr loan,then when you sell then car,sometime after you sell then car you still need add up some money to settle the bank loan cause car value drop every year =D |
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Sep 17 2011, 03:25 AM
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#3
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Junior Member
17 posts Joined: Jan 2008 From: Sungai Petani,Penang,Sunway, Klang..
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QUOTE(newx @ Sep 17 2011, 03:19 AM) ^ that is assuming your cash sits under your bed (you can't hide 120k under pillow without getting any attention). YUP..I'm the kind of person you saying.if we can generate higher return with that cash vis a vis the loan interest, am i right to say we should pay minimum amount and extend the loan period to maximum? Added on September 17, 2011, 3:21 am@EquinoX it seems that we have the same wavelength.  I use my cash more on investment and only 30% of my money for down payment. then every month my loan payment all come from my investment  |
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