Interest rate 3%, loan 100k and 9 years.

Interest for 9 years = 3k x 9 years = 27k

127k( 27 + 100) / 9 years / 12 months = 1.2k installment each month.

1.2k + petrol one month might b 1.5-1.6k.

Depend on where u're working and married status. Use ur current monthly salary deduct 1.6k then you will know whether you can afford to buy 100k onot.

You shouldn't go for a 100k as it is quite burden for you. 100k car definitely cost you each year more than 2k for the road tax + insurance + maintenance. Repairing and maintenance might not included in the first few year if you buy new car, but after that it will break your wallet.

This post has been edited by Faint: Oct 23 2011, 06:58 PM