Sep 17 2011, 09:24 AM
QUOTE(homeboy190 @ Sep 17 2011, 03:13 AM)
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
YA, its better pay down payment or 20% - 30% ( plan first) ..take loan for balance. shorter time is better. the rest of money can invest, which can generate more than 3% annual return.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
CEO/director seldom buy cars CASH.
If cash out rm120k, no returns. if pay 60K and put 60K in a investmnt at least can generate 5%,...... 3% for car instalment and 2% as income for balance 60K.
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