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Post by Civica on Aug 15, 2008 22:53:31 GMT 8
HI to all its been along long time i post a tread Wanna ask is this the right time to sell our car even if we only drove for 2 yrs plus i actually call up the car agent to look if i could let go my irde and was told the outstanding was about 13k after scrapping it. haiz which mean i really got to talke out cash plus cash rebate inorder to get a new ride. but to my notice even after i drive for 5 to 6 yrs i still have to folk out cash as our pica price fopr trading in or selling has kindda no values just imagine i bought my ride @ 46k now shop are only willing to buy it @ 22k if we plus intrest in it really making a big big lost . even if driving another year we could still end up paying approx about the same amount . haiz if you are me will you carrying on drive a picanto or actually sell it off and choose a new and better car soon while you get a better trade in value??? sorry if you dun understand about my topic (the main point is korean car itself really has not much trade in value after you buy )
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cooli
Gear TWO
Posts: 268
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Post by cooli on Aug 15, 2008 23:04:52 GMT 8
i m sorry to say that, there is no right time to sell our cars. buying a car is already losing money. i will sell off my car, latest by the 5th year. will need to top-up bout 6-7k. start saving now for the outstanding loan.
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Post by orangepica on Aug 15, 2008 23:08:57 GMT 8
mine 1 year only can trade in max 25k. i need to fork out 17k. Thought of changing to honda fit, now bomb liao. i understand if trade in and get another korea car, your trade in will be higher. but also say every car is the same it just that u pay for it more expensive then lose little later or u pay for it at a cheaper price first then lose alot later. concept is the same.
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Post by mj23pica on Aug 16, 2008 11:15:00 GMT 8
no right time. best is to maintain it well to last till 10th yr esp for those taking 10yr loan.. so loss will be minimise..
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Post by BlackBird on Aug 16, 2008 11:29:12 GMT 8
ya, buy car is a lose thing. the right time is to scrap at 10yr. PARF all come back throw to downpay new car n get loan again ;D
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Post by neutralgear66 on Aug 16, 2008 16:43:43 GMT 8
i though if u have break even u wont lose some much.....
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Post by tutucake on Aug 16, 2008 18:13:05 GMT 8
selling car is actually a matter of HOW MUCH u wanna lose...cos buy car sure lose one...its lose how much only... so, take (purchase price - selling price) / number of years driven if the figure is something u can accept... then sell it lor.... for myself.... losing $4500 per year is my threshold...
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Post by orangepica on Aug 16, 2008 19:47:08 GMT 8
thats why pica is so cheap. at least pica still got a bit of value. u try china brand and chevelort spark. sure die one, almost got one of those. Continetial car trade in also very lousy. mazda, nissan, subraru also got quite poor trade in. only honda and toyota and those expensive car got value. i did tell myself, if i can't get a better car, i will drive on my pica. nothing wrong with it, its still a good car.
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Post by ahsiong aka Alex on Aug 16, 2008 21:12:48 GMT 8
those taking big loan for 10 yr will always lugi when you try to sell cos you have to top up alot to settle the outstanding loan. the best is to take a loan of 7 yr or less, so the top up is manageable.
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Post by minxue on Aug 17, 2008 3:11:36 GMT 8
share mine~ i got my ride in jan08. wanted to change into a bigger ride. but i need to top up 12k. or i get my new ride and get cash rebate. which is not worth it.=)
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Post by mj23pica on Aug 17, 2008 13:13:54 GMT 8
Spark not too bad la, at least its a chevy.. just that its way underpowered... and even smaller than our ride, other than that its fine. . for china rides, no commments. thats why pica is so cheap. at least pica still got a bit of value. u try china brand and chevelort spark. sure die one, almost got one of those. Continetial car trade in also very lousy. mazda, nissan, subraru also got quite poor trade in. only honda and toyota and those expensive car got value. i did tell myself, if i can't get a better car, i will drive on my pica. nothing wrong with it, its still a good car.
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Post by mj23pica on Aug 17, 2008 13:25:08 GMT 8
Every 10 yrs then change car.. Most impt get a reliable value for $$ car to last u thru.. how many 10 yrs do we have? haha.. Rather minimise loss and use the add. $$ for other pursuits/investments etc.. Life is more than jus cars.. Retire early is the most impt. No point slogging for a car.. Nowadays stress @ workplace and influx of 'FT's reli making our career span very short.. so save as much as possible. Noboby knows wat will happen tom ya.. 'HOPE 4 ZE BEST, PREPARE 4 ZE WORST' Heeeee...
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Post by Maxred on Aug 17, 2008 20:50:19 GMT 8
Bro,as many have said"there is no right time or not" is that once u own a car u are losing money.For me I have no choice even I have to paid 7 to 8k to top-up,cause I need a bigger space for family needs.
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Post by Civica on Aug 18, 2008 10:27:40 GMT 8
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Post by neutralgear66 on Aug 18, 2008 16:21:16 GMT 8
u r right bro mj23,how many 10 years we have....LOLZ........
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Post by mj23pica on Aug 18, 2008 17:48:29 GMT 8
Good for u, bro. Thats the way.. save for the future. The key is to let ur $$ last thru ur life and not hook on instant gratification. I also wish to drive a GTR, but reality is harsh..If u reli hope god dispose, then buy a bit of 4d/toto.. u never know. My relative struck 4d= $40000 some time ago... He told me this - U never actually own the car, but only the experience of driving. A lot of people never wake up to this idea, pushing the cost of ownership/running and therefore resulting in car ownership being the biggest liability. its Jus not logical and I guess its a 'face' thingy that reli adds up to nothing if u able to c beyond it.. ;D ;D ;D
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Post by dotdot84 on Aug 18, 2008 20:52:21 GMT 8
Saying abt liability.. i do have 1 qns.. Actualli, i feel quite stress up owning a car and i pull 10yrs loan. car oni 2 mths old .. if let say i have tis intention to let go.. any idea whether i have to pay or top up..
can i do any transfer of ownership and let the other party continue it? or have to sell back to those car shop .
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Post by orangepica on Aug 18, 2008 21:39:33 GMT 8
have a check with your bank whether can transfer your loan to another party without the need to full settle it. if u sell to another personal owner will be better, = higher selling price, but still the difference u need to top up. Car dealer are fixed price, if car less than a year, u will tend to lose alot. latest price i just check for mine is 25k max only. never return the car to the bank, its a lose lose situation. best to find a relative who can take over your car, at least sometime u can borrow the car to drive if u miss it.
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Post by mj23pica on Aug 18, 2008 22:13:09 GMT 8
Bro orangepica is right, but I doubt easy to get sm1 to take over, reason being new car price now quite low thus no incentive in taking over 2nd hand ride. I believe either u lose big$ to sell it off or may have to manage ur finance effectively to serve out the loan for another few yrs to minimise the loss. Big big mistake was to take a 10 yr loan. Mine was also on a 10yr. As I bought my opc pica at 16499, which was @ one of the lowest price, tot jus max out the loan as absolute interest was not that much. But in relative terms, its just not worth it.. But that x dunno how to think, so made the mistake. So I will def drive for 10 yrs unless strike gold.. heehee Bro dotdot, how much u paying monthly for instalment??
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Post by dotdot84 on Aug 19, 2008 15:22:31 GMT 8
ya bro pica, realli great mistake to pull a 10 years loan..moreover realli cant enjoy the ride at time.. wana change rim + tyre also have to wait and tink.. realli heavy and big burden nwdays with such inflation time on many things. Currently paying a mthly 420/mth its not a OPC car .. wad abt ur as an OPC car, hw much it cost mthly?
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Post by Pi on Aug 19, 2008 18:04:31 GMT 8
hey hey, my pica is on 10 years loan too. last month i checked, if i sell car, will lose $14000. pica is 3 years old now.
had wanted to sell my ride cos my gf also got her own car (honda jazz). was told by car agent that she'll lose about $8000. her ride is 1 year old, with a downpayment of about $5-6k.
I'm thinking, actually, if my gf were to sell her ride, her total loss is actually = $8000 + $5/6k (initial downpayment) = $13-14k.
for me, even though i will lose $14k, my downpayment at that time was only $1k. so, the difference in the loss for both cars is not that BIG actually.
of cos, car agent said that in the long run, keeping the honda will be better, cos of better engine and cost of maintenance will be low(??).
but i wonder: honda jazz's rd tax is more ex, insurance will be more ex cos of bigger cc, and my gf feeds it RON95 (as compared to me giving RON92 to my pica) petrol... isn't it even more expensive in the long run? true, honda jazz's FC is better than our pica, but... still more ex leh~
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Post by mj23pica on Aug 19, 2008 18:40:57 GMT 8
Im paying 1 $164 mthly. Ya, The cost of running includes many hidden costs that needs to be catered to. Though opc, I recently paid for insurance $800+, rd tax $77, svcing $128, change of tyres (2nd hand but very new) & batt $250, all at the same time in July. So abt $1300 shaved off my savings juz like that .. Could have gone for a short holiday with that $$, but wat to do?? ;D wat u mean u cant enjoy the ride? prob u wanna consider changing to 2nd hand kia sport rim and tyres 165/65/14 at poh heng or ban hin for the time being? ya bro pica, realli great mistake to pull a 10 years loan..moreover realli cant enjoy the ride at time.. wana change rim + tyre also have to wait and tink.. realli heavy and big burden nwdays with such inflation time on many things. Currently paying a mthly 420/mth its not a OPC car .. wad abt ur as an OPC car, hw much it cost mthly?
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Post by mj23pica on Aug 19, 2008 18:52:50 GMT 8
Keeping honda should be a better choice if u intend to keep it for long.. Engine better so less worry on hiccups thru the yrs, unless u wanna buy additional insurance for ur pica's main parts like engine, gear clutch etc after say 5 yrs of driving, which is wat I plan to do.. in terms of fc, jazz is good too..
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Post by mj23pica on Aug 19, 2008 18:53:59 GMT 8
Btw, 2nd hand kia 4 sport rims +tyres abt $250.. Im paying 1 $164 mthly. Ya, The cost of running includes many hidden costs that needs to be catered to. Though opc, I recently paid for insurance $800+, rd tax $77, svcing $128, change of tyres (2nd hand but very new) & batt $250, all at the same time in July. So abt $1300 shaved off my savings juz like that .. Could have gone for a short holiday with that $$, but wat to do?? ;D wat u mean u cant enjoy the ride? prob u wanna consider changing to 2nd hand kia sport rim and tyres 165/65/14 at poh heng or ban hin for the time being? ya bro pica, realli great mistake to pull a 10 years loan..moreover realli cant enjoy the ride at time.. wana change rim + tyre also have to wait and tink.. realli heavy and big burden nwdays with such inflation time on many things. Currently paying a mthly 420/mth its not a OPC car .. wad abt ur as an OPC car, hw much it cost mthly?
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Post by mj23pica on Aug 19, 2008 18:54:54 GMT 8
Btw, 2nd hand kia 4 sport rims +tyres abt $250.. Im paying 1 $164 mthly. Ya, The cost of running includes many hidden costs that needs to be catered to. Though opc, I recently paid for insurance $800+, rd tax $77, svcing $128, change of tyres (2nd hand but very new) & batt $250, all at the same time in July. So abt $1300 shaved off my savings juz like that .. Could have gone for a short holiday with that $$, but wat to do?? ;D wat u mean u cant enjoy the ride? prob u wanna consider changing to 2nd hand kia sport rim and tyres 165/65/14 at poh heng or ban hin for the time being? ya bro pica, realli great mistake to pull a 10 years loan..moreover realli cant enjoy the ride at time.. wana change rim + tyre also have to wait and tink.. realli heavy and big burden nwdays with such inflation time on many things. Currently paying a mthly 420/mth its not a OPC car .. wad abt ur as an OPC car, hw much it cost mthly?
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