buying a old nissan presea

[wenrong]

hihi guys, i was thinking of buying a old car as dep is lower and i could sell it within a shorter timeframe if i wish to upgrade or whatever, there fore i was thinking of a old nissan presea.

 

any comments abt that car? and what is the markey price for that car which coe is ending in 2011. I saw in sgcarmarts they are selling abt 11k to 13k+, and their paper value is abt 9k. So i avergae will be paying 2k abive the paper value?

 

Anything things to look out for when buying that car? and anyone 1 who knows what is the interest rate? i ask thomsom carmart and their interest rate is 4.825!! Is it the norm?

 

cheers. Thans for all your valiable comments.

[Hong-U]

Ok mah, presea...

 

Drive liao can "Pid-Xia" (ward off evil)

 

Jus joking... but heard this car is very slow in terms of accelerating.

That's what I heard.

 

1.6 old Corolla nv consider?

[Skunk]

i bought a 1991 Presea around 11 months ago.

 

It's a very tough and very cheap car, internals shared with Nissan Sunny.

 

But if u r thinking of buying and then selling shortly, forgeddit, confirm will lose $$ wan. In SG, try to minimise buying n selling vehicles, get a good one n use as long as possible.

 

I managed to get interest at 3.75%, downpayment $5K and installments for 4 years. 4%++ is the norm if your downpayment too little or installments stretch too long. Make sure u get your finances right, even an antique car like this every month need around $1.1K to "keep alive". NO JOKE. A brand new car every month only extra $100 to $200. Better think hard.

 

The engine is super tough, set aside $$ for top overhaul and it will last a long time. Look out for rusty rear disc brakes. Suspension can be rotten after so many years. Check for leaky power-steering. Other than that it's a damm tough car, over-engineered because it was meant as a "semi-luxury", half a class above Nissan Sunny, in 1991 it cost a whooping $10K more than Sunny.

 

Set aside $$$ to replace wear n tear parts, old car u need $$ to do up these. My total repairs as of now:

 

Rear Disc Brakes $220 (i think, around there)

Alternator $150

Gaskets $80

Power steering rack $250

 

acceleration is terribly slow....in 1991 it could probably do a 10 second 0-100kmh....now ah, haha cyclist also cannot overtake. This is because of it's gearing....very low gears.....also, the "cam phasing" is almost 4K rpm.....but because of this, the top speed is amazingly high......6900rpm is the redline, i know of ppl who hit 210km/h on this car a mere 2 years ago...imagine, on a 14 yr old car haha....im not trying to encourage racing on such an old machine, very dangerous, just saying something interesting about this car.

 

Just choose carefully to get a good one, dont race, use it as a A to B bread n butter machine, use until end of COE to get the max value out of it, wont regret. Tough car.

[wenrong]

thanks for your feedback, i dun actually intent to change cars if i buy the presea, unless a really gd offers comes. hehe..

 

How much is the insurance for me? a 23 yrs old guy with 1yr+ exp.

 

Thanks

[Skunk]

Originally posted by wenrong@Oct 18 2006, 11:47 AM

thanks for your feedback, i dun actually intent to change cars if i buy the presea, unless a really gd offers comes. hehe..

 

How much is the insurance for me? a 23 yrs old guy with 1yr+ exp.

 

Thanks

super duper exp....many firms dont insure COE cars somemore, worse.

 

if im not wrong should be maybe $1.6K and above.

[Skunk]

btw the "good offers" usually wont come along haha. Try buying a COE car and then selling it after a year....usually lose until backside split....almost nobody will buy since new cars so cheap now, sell back to dealers die until jialat.

 

just choose carefully maintain it well n use until COE expire

[white_angel]

DUDE my advise is don't go for coe cars as did you know your road tax is to a 150% cap which INCREASES every year till it reaches 150%? its seriously not worth the money! to get a band with your buck, thinl new cars would be better as the interest is lower approximately 3% subject to finance companies. road tax cheaper no wear & tear as it would probably be better to march down to the dealer & demand repairs to be made FOC if it is within the warranty period.insurance wise can't be help since i suppose this is your first time buying a car no NCB?? wa.. piang eh your premium would simply sky rocket!

but then again, persea stock already have front & rear disc brakes! woo hooo...

nowadays even new cars don't have rear disc brakes as most would come stock in drum brakes.

its yr call dude, buy a car you like not what or how others influence you! for me i would rather a suzuki swift GTI 1.3 much more torque & power as compared to persea!

good luck bro!

[Skunk]

yes i slightly regret getting the car. A new car every month only $100 to $200 more only in terms of total expense.

 

and i took a huge gamble on such an old car, luckily i got a good one, if unlucky get a screwed up one also die until backside split.

 

i keep comforting myself every month save $100 = one short holiday a year keke

[wenrong]

??? theni should be a new car?

Yes, i agree that the new car prices is very attactive, but their dep is much more than coe cars, need alonger breakeven timeframe, insurance higher?

 

Normally pple will change cars by 5 yrs, so i was thinking that i drive a coe car for 5 years and lose 10k+ than a new car that is bound to be more than 10k+?

 

The road tax i know that is 50% more compare to new cars, more $$ needed on maintainance, but is the maintainance so much that it resulted the total cost to only 100 cheaper than new cars? couldn't be a coe that that needs to spend a few hundreds on repair everymonth, right?

 

Btw, i onlt wanna get a car as tranport for myself and family, and i dun intend to spent so much on cars as i getting a flat soon and going to marry soon too.

 

in the last resort if the car is not worthit, i will stick to my wave!hehe..

 

pls enlighten me. thanks,.

[Skunk]

I'll share info on my car finances to help u decide.

 

Road Tax $1422 yearly, so monthly $118.50

Insurance $775 Third Party under my Dad's name cheaper, monthly $64.50

Installments $312 monthly x 4 years.

Downpayment $5K

Petrol $400

Parking + ERP $120

Maintenance + potential repairs $100 (this one die die must set aside every month)

 

Total : $1115 roughly.

 

From what i know, a brand new Nissan Sunny's total would be roughly $1300 depending on various factors.

 

Think about it bah, u must have at least $1100 every month to spend on transport or else forgeddit, which means u should be making at least $3K to make that choice a wise one. Cheers.

[Throttle]

Originally posted by wenrong@Oct 18 2006, 09:42 AM

hihi guys, i was thinking of buying a old car as dep is lower and i could sell it within a shorter timeframe if i wish to upgrade or whatever, there fore i was thinking of a old nissan presea.

 

any comments abt that car? and what is the markey price for that car which coe is ending in 2011. I saw in sgcarmarts they are selling abt 11k to 13k+, and their paper value is abt 9k. So i avergae will be paying 2k abive the paper value?

 

Anything things to look out for when buying that car? and anyone 1 who knows what is the interest rate? i ask thomsom carmart and their interest rate is 4.825!! Is it the norm?

 

cheers. Thans for all your valiable comments.

Skunk is totally right.

Unless you are earning at least $3k a month with no other commitments, better dont buy becos you will be stuffed.

Dont go looking for trouble, save up a few more years before you rush in.

 

I dont mean you but many young Singaporeans are like that. Spend first think later. and what happens later? get stuffed. no point lah.

Ask yourself why you need a car at this stage. Your bike does its job well.

At the end of the day it's a Want , not a Need.

 

Regarding this COE car, if you buy it, be prepared to drive to the end becos it has very low value and unless it is a top end car like a Continental sports, there wont be any real intrinsic value. lastly if you still need to take more than 50% loan to buy a car which is only $11k, dont even consider, you are probably not ready.

[Skunk]

Originally posted by Throttle@Oct 18 2006, 07:48 PM

lastly if you still need to take more than 50% loan to buy a car which is only $11k, dont even consider, you are probably not ready.

for MOST ppl, yes, not for some ppl though haha.

 

my friend who's a lawyer, starting pay $3.5K, bought a car with high loan.....need the car urgently lah, always work until midnight taxi very exp....yet no savings yet....but his pay is confirm enuff for a car....

 

haiz, how i wished my starting pay also $3.5K

[Throttle]

I'm talking about a car thats only $11k , if you need to take more than 50% loan, confirm definitely not ready.

[jerryGSR]

for renew COE car, u need to have a trustworthy car mechanic and workshop. i decided to get a COE starlet cos i am a p-plate, insurance sure very high if i buy new car. so getting COE car, insurance not that "siong", jus that road tax x 1.5. my dad owns a car garage so repairs and maintence wont kena chop carrot

 

my belief is simple. start with small budget car. not all COE cars are that problematic as most pple tink. Startlet at the moment is one of the best choice, cheap and easy to find parts, engine for most starlets are problems free, juz normal timing belts and aircon needs to repair or service. i decided to use this car to drive ard for transport, learn some DIY, and build up my NCB. sometime, money is not the issue, is that u need to spend the first few months to replace or rectify wear & tear on the car, then there wont be other issue le. for those new drivers who plannin to change their dream cars in 2 to 3 yrs time. gettin a re-new car might be an option.

 

most impt, must plan properly!!!!!

 

and enjoy whatever u drive or ride.

[Skunk]

aircon fan just went crazy, replaced rheostat with a re-con one, $65.

 

Just an example of the little repairs that must be carried out on old cars.

[joshy]

1st hand car may not be worth as well. unless u r looking at long term driving which u dun intend to sell for the next 7 yrs at least. For a full loan new car break even is at least 6-7 yrs. And comparing of of the paper value & at the price u bought, its a min 20k diff. Unless u r prepared to hold on to new car for more than 7 yrs if not dun get it. U will be topping up with thousands if u do sell before the break even period.

 

There's pros & cons for 1st or 2nd hand cars. U will need to plan well before choosing a car.

 

[Throttle]

Yeah, buy brand new car, lose money big big .........sibei sian....

Now one side of my mind feel like changing cars while the other side is unwilling......

 

next time i stick to secondhand cars, then every 1 - 2 yrs can change.

 

Buying COE car is a little bit different, make sure you are prepared to lose everything you pay when you buy a COE car so that when it happens you are prepared....

[joshy]

Yeap unless we r looking into driving for the entire life span of the car then current new car is gd to buy with lower depreciation.

 

Wait till it break even then get a 2nd car. Right now can keep a look out for cars which u like.

 

1-2 yrs time I will be changing to a bigger cc car. That's when I do not need to come out with cash (maybe get back some cash, hehe) & NCD for lower insurance. Next ride shall be a 2nd hand car too. Maybe I dun like the feeling of paying so much just for the fresh new feel.

 

My personal opinion.