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How much do you earn a month...


How much do you earn a month when you gotta support a car?  

648 members have voted

  1. 1. How much do you earn a month when you gotta support a car?



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4 years is possible but i would think it's on the optimistic side even especially if you use paper value as basis.. anyway the conclusion is about 4 to 5 yrs, i guess.

 

For people reading this, do not misunderstand that "breakeven" means that you dont loss a single cent. Here "breakeven" simply means that you end up with no debt if you get rid of the car. What you have put in in the past is all gone.....

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Originally posted by hondavvvtec@Dec 4 2006, 12:26 PM

how u calculate BREAK EVEN??

i very confused

below is my actual scenerio...

 

FIT 1.3A @ $51,000

Downpayment $10,000

Loan 7yrs @ 2.85%/yr on $41,000K

total interest paid after 7 yrs = $8,179.5

Mthly = $586

How long will i take to break even?

Give me your OMV and COE, I'll give you your breakeven between scrap value and outstanding loan.

 

i estimated your OMV is $13801, and COE is $12,000, you will have positive equity at about the 55th instalment. As COE is depreciated on a daily basis, my calculation not exact to the dollar because i am using flat 30 days a month. Even that, my calculation will not be off by a month.

 

Of course, if you settle your loan earlier, there is some rebate. And the car body is also worth a few thousand dollars above scrap value.

 

:bounce:

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Originally posted by Throttle@Dec 10 2006, 09:49 PM

Porsche Carrera 4 Tip

Reg Year Jan 2003

OMV $129672

COE $29001

Downpayment $125k

Loan $100k

Monthly about $2k for 5 yrs.

 

Whats the breakeven?

 

assuming the car price is $225K.

 

your OMV and COE is so high, with parf/coe rebate, you will breakeven even you sell the next month. haha.

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intended to get a car .. but saw the infront post was like monthly u gonna need 1k at least ... per month ... intending to get cheap car like those 1000cc ones probably second hand between 2 to 3 yr old .. which depricate 3k per yr , ith cheap rd tax 600 per yr , fairly gd FC 15km/l, using my father as owner so get cheaper insurance cost nt sure may be 700 to 1000 .probably the cheapest one ... i travel very little per day .. erm about 20km to 30 km on average ..so fuel per month max will be 125 dollar .. i sum up and calculated is 500 per month if i use it tt way excluding the maintenance and servicing .. personally spend about 150 on my bike .. but got into accident bang by an old uncle who drives . so now injured wont be able to ride tt soon and a lot of nagging tt bike is danger .. " u could be safe but not the others " my father always say tt and it really happened .

 

as my dad also had an week end car next jan will reach 1 yr old .. you guy think tt i should convert the car probaly need around 15k or should i get a car for myself... erm lastly i'm a student got no income .. just tt after i get my compensate i will get enough money to down payment ..

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Originally posted by Aldric@Dec 11 2006, 12:34 PM

intended to get a car .. but saw the infront post was like monthly u gonna need 1k at least ... per month ... intending to get cheap car like those 1000cc ones probably second hand between 2 to 3 yr old .. which depricate 3k per yr , ith cheap rd tax 600 per yr , fairly gd FC 15km/l, using my father as owner so get cheaper insurance cost nt sure may be 700 to 1000 .probably the cheapest one ... i travel very little per day .. erm about 20km to 30 km on average ..so fuel per month max will be 125 dollar .. i sum up and calculated is 500 per month if i use it tt way excluding the maintenance and servicing .. personally spend about 150 on my bike .. but got into accident bang by an old uncle who drives . so now injured wont be able to ride tt soon and a lot of nagging tt bike is danger .. " u could be safe but not the others " my father always say tt and it really happened .

 

as my dad also had an week end car next jan will reach 1 yr old .. you guy think tt i should convert the car probaly need around 15k or should i get a car for myself... erm lastly i'm a student got no income .. just tt after i get my compensate i will get enough money to down payment ..

Learn to take public transport like everyone else.

 

Hate to be direct mate, but how are you going to pay for anything with no income? Parents? :giddy:

Past: KDX200, LC4 400, LC4 620, GSXR750WR

Present: CBR900RRY, Gas Gas EC250, XR250L, XR250RV, XR400 (motard-ed), NX650 Dominator

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Originally posted by Throttle@Dec 10 2006, 09:49 PM

Porsche Carrera 4 Tip

Reg Year Jan 2003

OMV $129672

COE $29001

Downpayment $125k

Loan $100k

Monthly about $2k for 5 yrs.

 

Whats the breakeven?

brother throttle, I am sure you are more than capable of working out these kacang puteh figures given the profession you are in. I am sure you are putting me to the test.

 

Nevertheless, it's a slow day in office, this should help kick start my brain. Actually my calculations are all based on new cars, so I have to adapt it to your condition for used car.

 

The interest rate was not given but there is little impact on the breakeven point (scrap value against outstanding balance), probably an increment of every 0.25 percent, one month earlier, because the monthly instalment is large.

 

To simplify things, the calculation is based on Jan 2007 ,when the car begins it's 4th year.

 

Int rate: 3%; Monthly instalment: $2396; Breakeven: 40th month of instalment.

 

Let me know if your calculation is different from mine.

 

PS : I am using flat rate of 30 days to a month for calculation.

 

:bounce:

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Originally posted by ulysses_sc@Dec 11 2006, 01:29 PM

Learn to take public transport like everyone else.

 

Hate to be direct mate, but how are you going to pay for anything with no income? Parents? :giddy:

ya man

 

 

i can onli envy

一路å‘北 4 EVER , my friend

 

 

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Originally posted by Demon@Dec 11 2006, 02:25 PM

brother throttle, I am sure you are more than capable of working out these kacang puteh figures given the profession you are in. I am sure you are putting me to the test.

 

Nevertheless, it's a slow day in office, this should help kick start my brain. Actually my calculations are all based on new cars, so I have to adapt it to your condition for used car.

 

The interest rate was not given but there is little impact on the breakeven point (scrap value against outstanding balance), probably an increment of every 0.25 percent, one month earlier, because the monthly instalment is large.

 

To simplify things, the calculation is based on Jan 2007 ,when the car begins it's 4th year.

 

Int rate: 3%; Monthly instalment: $2396; Breakeven: 40th month of instalment.

 

Let me know if your calculation is different from mine.

 

PS : I am using flat rate of 30 days to a month for calculation.

 

:bounce:

not putting you to any test, bro. i'm just lazy and since you offered, i took it. hehe heh.

buy a a drink next time ok?

 

I'm going to give up all fantasies of buying a Porsche for now becos I'm looking for opportunities to start a business and my kid is coming next year. the Dark side is very strong but i must resist. must resist. aaarrhhgggghhh....

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Originally posted by Aldric@Dec 11 2006, 12:34 PM

intended to get a car .. but saw the infront post was like monthly u gonna need 1k at least ... per month ... intending to get cheap car like those 1000cc ones probably second hand between 2 to 3 yr old .. which depricate 3k per yr , ith cheap rd tax 600 per yr , fairly gd FC 15km/l, using my father as owner so get cheaper insurance cost nt sure may be 700 to 1000 .probably the cheapest one ... i travel very little per day .. erm about 20km to 30 km on average ..so fuel per month max will be 125 dollar .. i sum up and calculated is 500 per month if i use it tt way excluding the maintenance and servicing .. personally spend about 150 on my bike .. but got into accident bang by an old uncle who drives . so now injured wont be able to ride tt soon and a lot of nagging tt bike is danger .. " u could be safe but not the others " my father always say tt and it really happened .

 

as my dad also had an week end car next jan will reach 1 yr old .. you guy think tt i should convert the car probaly need around 15k or should i get a car for myself... erm lastly i'm a student got no income .. just tt after i get my compensate i will get enough money to down payment ..

Since you ask... the answer is NO.

:nono:

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Originally posted by Demon@Dec 11 2006, 02:25 PM

 

To simplify things, the calculation is based on Jan 2007 ,when the car begins it's 4th year.

 

Int rate: 3%; Monthly instalment: $2396; Breakeven: 40th month of instalment.

 

Let me know if your calculation is different from mine.

 

PS : I am using flat rate of 30 days to a month for calculation.

 

:bounce:

sorry, I made a few mistakes.

- put in the wrong loan amount.

- Car is starting 5th year of life ie 6 years to end of QP.

 

For $100,000 loan at 3% interest over 60 months (5 years), monthly instalment is $1917, the breakeven point is at your 48th month instalment, age of car is 96 months ( end of 8th year).

 

:bounce:

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Originally posted by Throttle@Dec 11 2006, 03:16 PM

I'm going to give up all fantasies of buying a Porsche for now becos I'm looking for opportunities to start a business and my kid is coming next year. the Dark side is very strong but i must resist. must resist. aaarrhhgggghhh....

10 years back, i almost bought a 12 year old 911 targa, it was going for $90k. It was love at first sight. When I found my wife was expecting our first kid, I gave up on the porsche, and bought a brand new VW instead. It was a rational decision, and never regreted it but this itch does return once a while.

 

many months back, met an old friend, he has a 16 year yellow 911 carrera with a turbo bodykit, and he said that one of these are going for less than $50k, and when i drove it, suddenly everything comes rushing back.

 

 

 

:bounce:

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16 yr old Carrera should be a 964 series.

Still a very nice car. But I seriously doubt you can get one for under $50k. unless condition sucks.

 

Road tax is $6400 per year

Insurance about $2000 per year for me.

Which means even if I buy and park in my carpark, I must pay the Govt $8400 a year.......bloody hell.

 

==============================================

 

Mistake on the price of the 996 earlier.

Should be $275k instead of $225k.

So I must down $150k at least as i dont like to take loan bigger than downpayment. Very unwilling to pay so much for a car. Maybe better to just buy another property

 

============================================

 

Now that it's 10 yrs later, you can consider the irrational again?

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Originally posted by Demon@Dec 11 2006, 05:52 PM

nah, I am happy with my Forester.

 

:bounce:

Looks like, i should follow your footsteps and lay off for 10 years, then in 2017, I'll get myself a 2007 Carrera Series 997???!?!?!?!

 

first bitter , then sweet.....heh heh

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Originally posted by paithorn@Dec 11 2006, 06:30 PM

Haha....dun wah lau so soon....... if youo planning for 2nd one...it is not double the apin but exponential!!!! Trust me!!

I'll take it one step at a time.....Paithorn.

 

In the meantime, when you ready for another good puff?

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