Nice..!

The way I understand it is that as long as you haven't registered the car in your name and awaiting collection.. You can withdraw your booking from any dealer and go with another. Booking is just that, booking.. Only waiting period is to receive your booking fee refund. Else, just go deal with whomever you feel most comfortable with.

Should be in full as you applied for that amount and need to pay back plus interest.

At least his is for 5 years and not 9 years for some.. So affordability still okay la.. Besides, could be his money is better kept somewhere else gaining more returns than the car's fixed interest rate..

Nice try.. Joined April 2019 and immediately quotes post from Oct 13 2014...

This post has been edited by voncrane: Apr 23 2019, 12:55 PM

The loan should be auto-deducting from a typical savings account. Transferring to that savings account via inter-bank transfer is sufficient. Later the loan account will deduct from there. You can do this every month.. Manually or automatically. Just do it before the date the loan repayment is due.

Can.. Choose loan payment as the type of transfer.

I foresee the same problem in the not too distant future..

Same bank you owe...same bank you invest in.. Same bank you save in..Either way, bank gets your money and plays with it to make more money than you.. Banks are not in the losing money business..

There's the saying that cash is king. Especially in cases where one like yourself can afford it. Rough calculation, if you paid some and took an 80K loan for say 5 - 9 years? Just cuz "loan"...Interest could be around 10K++. So IMHO, if you could use that 80K to make around 20K or more in the same amount of years?.. Then sure, go the loan route as it's smart. But this won't apply to everyone. Some people prefer to pay cash and or settle their loans quickly. Ultimately, it really depends on your financial situation and how you feel about loans.

Regarding discounts.. I don't think it'll be much la. Cuz end of the day, SA knows you want the car, you also know you want the car ... and so discounts can only be so much. Definitely not extra until more that say interest above if you use loan vs cash. Just milk as much as you can and enjoy your ride. My 2 sen.

Ah, I didn't know about this.. I always thought it's just part of the job description to close the sale...Sure more hassle to handle loan docs, apply to different banks, etc vs a clean single deposit and the car's completely yours...But i guess being paid for all that extra work (from the SA POV), is justified.