downpayment

[MrLau]

Originally posted by Dino Bravo@Nov 26 2006, 02:36 PM

few years down the road, lets see who has the last laugh. can look down on me now its ok, assets are not my piority NOW, savings and investments are.

Assume you save 'extra' $300 a month, 1 year is $3600.

 

10 years is $36,000. Cash.

 

What is a car 10 years later? A scrap metal.

 

Spending $1200 a month for transportation worth ?

[Throttle]

If can afford, very worth . if cannot, than of course not worth.

[Dino Bravo]

Originally posted by hachi@Nov 26 2006, 03:15 PM

Well agree with you as my bro also in the force and his co workers keep pressurizes him to buy a car....Is funny...Those who dont have money in their bank cannot stand those who has it....

well bro... i think its more of a case like "i die i also wanna pull you down die with me" thing.

they KNOW that they are in crap maintaining the car, no need to see also can feel it.

since they are in crap shiet, they wanna pull you down with them as well hahaha!

this is the reality of this world.

 

and someone mentioned "peer pressure"... what is peer pressure? peer pressure is all in the mind. if you feel that you need to have what your friends have to belong, then you will feel the peer pressure.

for me i don't see a need to, and i do not feel the slightest pressure.

its how you view it from different angles.

of cos i feel peer pressure in other aspects... but not in owning a car. i'm not ready yet...

i know my financial status well and i make it a point not to buy a hat that is too big for my head. =)

[hachi]

I guess there are still sensible people around and the true cost of car ownership are the ones who have cars...Or I can say those who cant affort to have cars but go ahead and brought it...Many went to JB for petrol during wee hours, try to save car park here and there. I also see many cars park at the top floor of MSC just hope that no one fine them...My house MSC top floor got a dozen of this cars....Those people are just not ready....Haiz...

 

And not to mention the bank account that even primary school kids will laugh at..Even month barely enough to pay installments, insururance and rd tax need to wait for year end bonus...

 

I guess I am lucky that my father got a humble 1.3l van for mi to drive and it will turn into a fun moblie at night...hee hee

[xb84]

looks

many ppl here are willing to delay ownership of a car.

i think have been reading too much of these from forums and sunday times invest section, makes me delay ownership further and further.

 

many friends still have the after studies, get job, buy car mentality.

often warn close friends of the cost of ownership.

when it comes to the 'showy' ppl, i gladly encourage them to pick up the latest models, or those already driving to get a sports car, while i look forward to see them bleed.

[xb84]

on a couple of occasions, with a few like-minded friends, we got carried away critising so-and-so for high expenses and lowly income. fearing it looked like a bad mouthing session, i would also end the conversation with..

 

"we cant say that so-and-so is wrong to take up instalments and spending so much doing modifications, as he/she gets to enjoy the ownership, there's no right or wrong. we are the f***ing misers!"

 

there's a saying "money cant bring into coffin", but there's many more decades to live we get into the coffin.

 

while others might quote "you dont know when u will suddenly stop breathing".

[Dino Bravo]

i agree with you in some ways...

yes we are the misers in fact...

but we are wise misers that know what we want and how we save.

those who owned cars (but cannot afford savings)... are misers too in my point of view.

they are the misers that others can't see, as the flashy cars and gadgets covered it up for them.

we who don't own cars are misers that pple can see. carry helmets... very obvious.

but when pple get to know them (those with cars), you realise they are struggling with life. depending on what little they have at every month end.

of cos they get to pick all the chicks... but... i realised those chicks don't last long. maybe perhaps they realised that although these guys have cars, but they are not financially realiable.

i mean there is more to life than a car. for some people, their life revolves around the car. BILLS that is... not the passion anymore...

 

of course there are those who can purely afford a car comfortably and have a healthy savings. those are the people that are really ready to afford a car.

they are the rich ones and probably wise ones... and they will never take a zero downpayment with a 10yr loan...

that is "rent" a car for ten years. not buy a car. the moment you off load your last installment, comes the big bomb, renew COE! you will never be free of installments.

[Throttle]

Now, I'm wondering if I should sell my (fully paid) car next year. and top up another $50k to use as downpayment for a second-hand Porsche Carrera. mouth-watering....slurp slurp

[Throttle]

Originally posted by Dino Bravo@Nov 27 2006, 03:37 PM

i agree with you in some ways...

yes we are the misers in fact...

but we are wise misers that know what we want and how we save.

those who owned cars (but cannot afford savings)... are misers too in my point of view.

they are the misers that others can't see, as the flashy cars and gadgets covered it up for them.

we who don't own cars are misers that pple can see. carry helmets... very obvious.

but when pple get to know them (those with cars), you realise they are struggling with life. depending on what little they have at every month end.

of cos they get to pick all the chicks... but... i realised those chicks don't last long. maybe perhaps they realised that although these guys have cars, but they are not financially realiable.

i mean there is more to life than a car. for some people, their life revolves around the car. BILLS that is... not the passion anymore...

 

of course there are those who can purely afford a car comfortably and have a healthy savings. those are the people that are really ready to afford a car.

they are the rich ones and probably wise ones... and they will never take a zero downpayment with a 10yr loan...

that is "rent" a car for ten years. not buy a car. the moment you off load your last installment, comes the big bomb, renew COE! you will never be free of installments.

Well said well said