Buying a new bmw?

[Darkfusion_16]

Re: Buying a new bmw?

Everyone is different lah. I think most people will not take 100% loan as you will never achieve positive equity. When you sell/scrap, you will lose big time.

Personally, I put $50k downpayment and pay well below $1k a month...

ok assuming i don pay down payment...n i wanna get 100 % loan...then? how much roughly will i pay for a 3 series bmw car?

 

[Nuke]

Re: Buying a new bmw?

Pay deposit to order car. The rest take loan ah.

if ur loan amt is $130k...u're looking at $1408/mth @ 3% interest per annum.

this stuff has to be explained to you properly. u're much better off going to PML to sit down, look at the various models so u can tell considering ur range is "ANY" new BMW. It's ridiculous to go thru every single model with u. U're missing the quintessential factor. You can't touch the car in the forum.

Go down and see which model tickles u.

 

[Darkfusion_16]

Re: Buying a new bmw?

Pay deposit to order car. The rest take loan ah.

if ur loan amt is $130k...u're looking at $1408/mth @ 3% interest per annum.

this stuff has to be explained to you properly. u're much better off going to PML to sit down, look at the various models so u can tell considering ur range is "ANY" new BMW. It's ridiculous to go thru every single model with u. U're missing the quintessential factor. You can't touch the car in the forum.

Go down and see which model tickles u.

got tickling sensation all ah? hehe.....

 

[bimmer71]

Re: Buying a new bmw?

ok assuming i don pay down payment...n i wanna get 100 % loan...then? how much roughly will i pay for a 3 series bmw car?

Assuming that the loan is S$125,000 (principal amount) and the interest rate is 3% (fixed), the monthly repayment can be calculated as follows:

S${125,000 + [(125,000 x 3%) x 10]} / 120 = S$1,354 per month.

Similarly computed, monthly repayment for shorter loan periods are as follows:

9 years - S$1470 pm
8 years - S$1615 pm
7 years - S$1801 pm

In addition to te above loan repayments, other running expenses such as petrol, parking fees, road tax, insurance, maintenance and not forgetting costs of "mod" (if any) should be factored in to arrive at the overall costs of owning a car.

Hope that these help .

Cheer!

 

[Darkfusion_16]

Re: Buying a new bmw?

how much u bros spend on road tax, petrol, per month? is 2k enough per month? if i put aside to tackle tis outstandin issues>?

 

[louis]

Re: Buying a new bmw?

few points to add:

1) you can't take 100% loan because PML requires a booking fee to order your car anyway.

2) 2k a month is not enough if it includes your monthly installment. if its only for monthly expenses and maintenance then yes, its probably enough.

3) PML has a new sales department called PML Premium Selection.

4) public transport may not be cool but bankruptcy's worse.

5) 4 lucky numbers for you: 4255

good luck and let us know when you've found your dream car.

 

[Darkfusion_16]

Re: Buying a new bmw?

few points to add:

1) you can't take 100% loan because PML requires a booking fee to order your car anyway.

2) 2k a month is not enough if it includes your monthly installment. if its only for monthly expenses and maintenance then yes, its probably enough.

3) PML has a new sales department called PML Premium Selection.

4) public transport may not be cool but bankruptcy's worse.

5) 4 lucky numbers for you: 4255

good luck and let us know when you've found your dream car.

na...askin... coz must knw mah how much u guys roughly spend....
i got lucky no of my own to win...thnks

 

[louis]

Re: Buying a new bmw?

na...askin... coz must knw mah how much u guys roughly spend....
i got lucky no of my own to win...thnks

no problems. hopefully you'll win enough to cover the taxi fare to PML showroom.

once there you can also ask the sales staff about maintenance cost, because many of them own BMWs themselves.

 

[chickenbackside]

Re: Buying a new bmw?

Assuming you take loan of the whole amount for a 3 series, with installment, every month $2k confirm not enough lah.

Factor in mod funds, wah lau, far away man...

 

[shaaz]

Re: Buying a new bmw?

u've gotta have at least 5k... at least.. this is factoring all ur road tax, insurance, spenditure, house, bills etc,

if u're talk ing bout 2k just to pay the car, petrol etc. you'll be paying through ur nose dude.. Honestly .. visit PML.. they'll have thier SE's willing to work every bloody thing for you.

(on top was just layman's calculation hor.. )

 

[Darkfusion_16]

Re: Buying a new bmw?

hehe...k wil make my way there.... i started tis thread coz i wanmted to hav a rough idea before goin there.........:singsing: :laughlik:

 

[Darkfusion_16]

Re: Buying a new bmw?

bTW bro's wat if i buy second hand 3 series...at such wat will b e difference as compared to buying 1st hand?Monthly payment will b lesser is it?

 

[chickenbackside]

Re: Buying a new bmw?

Of course lah. New cars depreciate the most.

Take for example a brand new E46 320i was around $150k-$160k about 4 years ago. You can buy a 2nd hand one around that age for $80k now. So essentially, the 1st owner lost 1/2 already.

Of course, with new cars, what you pay for is the peace of mind that if anything major goes wrong, you'll be convered. However, it's quite unlikely to happen unless you really thrash your car.

 

[xuexun]

Re: Buying a new bmw?

Are you a first time car buyer? or are u just 16 as your nick suggests... ha

2nd Hand car of course is cheaper then when new.

 

[kurqa]

Re: Buying a new bmw?

but bear in mind the higher interest rates for 2nd hand car loans

 

[Darkfusion_16]

Re: Buying a new bmw?

Are you a first time car buyer? or are u just 16 as your nick suggests... ha

2nd Hand car of course is cheaper then when new.

i m 22 working as an officer....

 

[TheNew7]

Re: Buying a new bmw?

i m 22 working as an officer....

I dunno what they teach you at OCS now but as I stated in my ealier posts in this thread, go get your hands dirty...... You are an OFFICER...... shouldn't be afraid of taking risks.....

But from what you describe about the finances, I advice you to look elsewhere..... don't be burdened by a car......... it is not worth it.....

 

[wilman2772]

Re: Buying a new bmw?

22, officer........hmmn......

Wat kinda officer?? Can be Police, Security, Army, Navy............

Even if you want to take 100% loan with no downpayment for a E90 320iA, it's subject to loan approval!!

U must be earning at least $3.5~$4k to take $130k loan.

The questions u asked here sounds like a 14yr old wanting your dad to buy the car or you're really 22 & have never own a car b4.

Best is come down to our monthly meetup & let us show you wat is BMW all about.

Cheers

'The Great White'

 

[hitmee]

Re: Buying a new bmw?

All banks and ministries have officers too.

first car aim for BMW liao. so lucky.
Next time not much choices for upgrade. should start with japanese car first mah. at least you know how they feel before you buy a BMW.

 

[Darkfusion_16]

Re: Buying a new bmw?

22, officer........hmmn......

Wat kinda officer?? Can be Police, Security, Army, Navy............

Even if you want to take 100% loan with no downpayment for a E90 320iA, it's subject to loan approval!!

U must be earning at least $3.5~$4k to take $130k loan.

The questions u asked here sounds like a 14yr old wanting your dad to buy the car or you're really 22 & have never own a car b4.

Best is come down to our monthly meetup & let us show you wat is BMW all about.

Cheers

'The Great White'

ya first time buyin car la...thts why don knw much abt procedure.... oh i m a officer in e navy....

rgds
chan