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New FD Civic - Who booked?

New Civic model year 2006 onwards
xiaobawang28
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Post by xiaobawang28 » Sat Feb 16, 2008 11:01 pm

cscs3 wrote:
xiaobawang28 wrote:
cscs3 wrote:
Example as following:
Car price : $x
Loan " $y @ interest rate of 2.5% for 4 years
So total interest you pay for your car is $y x 2.5% x 12 x 4 = $z
Total price you pay for your car is $x + $z.

This exclude expenses you pay if you decided to terminate your car loan earlier than 4 years as bank you charge you a additional service charge for it.

Sure, you can minus off the rebate that KM give back to you for taking their loan (as pervious post $700). However, you may know the total interest you pay out for 4 years or 7 years is much much higher than this discount.
Ur formula a bit sala leh should $y x 2.5% x 4 leh why u x 12 again? u not paying 48 years of interest mah.
Sorry, is $y x2.5% x 4 devided by 12, this is the amount you need to pay per month. x4 is necessary if you loan for 4 years.

Example, if you loan $50K, Your interest per year will be $1250, 4 years total interest is $5000. So total sum is $55K.
So if the price quoted to you is $75,800. The nett you pay for your car is $80,800. With $700 rebate. All in all your car cost you $80,100. if you take a 4 years loan.

Each month, you will pay $55K devide by 48 (4 years) = $ 1145.83.
This calculation is based on flat rate. Do take note by end of 1st year (ie after you pay up $1145.83 for 12 months). Your outstanding loan is actually much less than your initial loan of $50K (actually $50K - 12x$1145.83 = $36250 - but you still pay for 2.5% of $50K initial loan !

So actual interest the banK make from you is actually much higher than 2.5%. (or in ther word, you actually pay much higher than 2.5%).

It will be worse for those who take loan for 7 or 10 years.
Errr......now then u know?:O This has always been the case all along. And one thing during the first 12 months you are paying more on the interest.

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ek3_rs
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Post by ek3_rs » Sat Mar 08, 2008 1:57 am

finally ditching my EK3A after been it first owner, high COE for 7year plus, due to gearbox going up the lorry soon, dont wish to spend $$ repairing it, so export it while the body still worth more than scrapping it.

So has just booked a white FD2A, after convinced by a good and honest agent at Kah, that can offer me a good price for my EK3A stock cond. Now can start to feel the suffering of waiting again after 7years, which my new ride will be arriving in May/June. As i have spend quite some amount of time on my EK3 looks and serviceabilty, its is going to fail me soon, the de-kitting of my EK3 is the most painful.
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koehl
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Post by koehl » Mon Mar 10, 2008 11:33 am

Hi ek3_rs

Can you PM me your salesman details? Thank you in advance...

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striker
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Post by striker » Mon Mar 17, 2008 9:13 pm

Bro,

Share your details of your transaction, my friend

:wink:

kelvinfoo0925
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Post by kelvinfoo0925 » Fri May 09, 2008 2:44 pm

I have also booked a 1.8, white Civic.. The SE mentioned that it will be delivered in first week of Jun as planned.

Same reason as bro ek3_rs.. my esi is not in good condition.. therefore rather repair it.. I decided after a long time to get a FD..

Really looking forward to drive my new car in 3 weeks time.. :D

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striker
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Post by striker » Fri May 09, 2008 4:07 pm

You happen to be the Kelvin Foo from NTU Hall 4?

Congrats on your new ride.

You must have thot very long b4 buying new car. Firts time buying new car?

:wink:

MUSHA
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Post by MUSHA » Sun May 11, 2008 2:57 pm

I have just booked my FD1A Black after almost of year of thinking, pondering and wonder should I let my old car go. Was comtemplating between FD4 and 1 but eventually decide for the FD1. Est delivery is June July, provided KM wants to give me my COE - 4 bids unguarranteed.
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striker
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Post by striker » Sun May 11, 2008 11:24 pm

Congrats on your new ride!

What's your loan amount, % interest and period of loan?

Your old ride must have given you enough to put down payment.

:D

MUSHA
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Post by MUSHA » Mon May 12, 2008 6:03 pm

striker wrote:Congrats on your new ride!

What's your loan amount, % interest and period of loan?

Your old ride must have given you enough to put down payment.

:D
Looking forward to it everyday now. Like machaim waiting for my pay. :lol:

Full loan 10 yrs. Can't change car at least for the next 5 yrs. That's y muz aim at the correct car to buy, so i won't hv regrets. My old ride, drive into the sea oso nobody bother to take it out of the sea. Not that it is a bad car but it is worth very little money now, fact that it is a 3 yrs old car. :cry:
FoxtrotDeltaOneAlpha

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striker
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Post by striker » Mon May 12, 2008 10:29 pm

Bro, you sure drive to sea nobody want? :roll:

Maybe it's becoz you drive in there at nite :lol:

Mind me asking what type of car are you driving previously? 3 year old car shouldn't be that little money right?

MUSHA
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Post by MUSHA » Tue May 13, 2008 9:37 am

striker wrote:Bro, you sure drive to sea nobody want? :roll:

Maybe it's becoz you drive in there at nite :lol:

Mind me asking what type of car are you driving previously? 3 year old car shouldn't be that little money right?
It's a Hyundai Getz 1.3A 3door. Paper value is so low for the car. V pathetic... Used car dealer got a lot to say when buying over the car, plus they found out that the car had an accident before. :cry:
FoxtrotDeltaOneAlpha

MUSHA
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Post by MUSHA » Tue May 13, 2008 9:39 am

Btw, can any one kindly tell me if when u guys book new CIVIC, do u go for non-guaranteed or guaranteed COE?
FoxtrotDeltaOneAlpha

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striker
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Post by striker » Tue May 13, 2008 10:14 pm

Means you sold yourself to dealer?

How much for 3 year old car? Did you check with KM?

I got the non-guaranteed bid but depends on SE's advise. Market was slow then and non-guaranteed bid is ok.

If market hot, try your luck :wink:

MUSHA
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Post by MUSHA » Wed May 14, 2008 11:19 am

striker wrote:Means you sold yourself to dealer?

How much for 3 year old car? Did you check with KM?

I got the non-guaranteed bid but depends on SE's advise. Market was slow then and non-guaranteed bid is ok.

If market hot, try your luck :wink:
Paper value + body of $1800. NB! Really very low for the body lor...

KM's 2nd car dealer offer one leh, sold to them if the new car is on. :cry:
FoxtrotDeltaOneAlpha

kelvinfoo0925
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Post by kelvinfoo0925 » Thu May 15, 2008 12:51 pm

striker wrote:You happen to be the Kelvin Foo from NTU Hall 4?

Congrats on your new ride.

You must have thot very long b4 buying new car. Firts time buying new car?

:wink:
No I am not the one in NTU Hall 4..

Yes I did thought for a long time before I decided to change my ride.. and only $300 more to drive a new car.. I think it is worth it..

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