Help me become a Bimmer nut please!

T

Tim'

Member
Hi all,

My name is Tim, new to the bmw forums.

I am planning to purchase an E46 318i, with COE renewed till 2019. One thing standing in my way though, to owning my first Bimmer is a car loan.

I have tried Hong Leong, DBS etc, and I have been turned down.

My other alternative would be to settle for a Honda Civic, and that would really be a damper.

Any lovely people on the forums know where else I can apply for a loan? I have set my heart on a lovely bimmer, if anyone can point me to somewhere to apply for loan, I'll be mucho grateful.



Cheers,
Tim
 
Re: Help me become a Bimmer nut please!

Welcome to BMW-sg

no bank will loan u COE car unless u loan COE. if not , only in-house finance but higher interest.
 
Re: Help me become a Bimmer nut please!

Tim';757446 said:
Hi all,

My name is Tim, new to the bmw forums.

I am planning to purchase an E46 318i, with COE renewed till 2019. One thing standing in my way though, to owning my first Bimmer is a car loan.

I have tried Hong Leong, DBS etc, and I have been turned down.

My other alternative would be to settle for a Honda Civic, and that would really be a damper.

Any lovely people on the forums know where else I can apply for a loan? I have set my heart on a lovely bimmer, if anyone can point me to somewhere to apply for loan, I'll be mucho grateful.



Cheers,
Tim
Click to expand...


Hi Tim,

welcome onboard............






cheers
 
Re: Help me become a Bimmer nut please!

I can put around 20% of the cost as downpayment, would my loan then be approved? I don't have bad credit, I can provide my income statements and if need be can provide a guarantor as well. Just wondering how else to get bank to approve. In house loan I heard the interest could get really really high, so in-house loan would be out.

Is the only way to owning a coe bmw to pay the full amount? Any one here able to help me with a loan application or contact? Really appreciate your help

Seriously I'd hate to give up on the idea of owning my first Bimmer. I can't bear to drive any other car!


Cheers
Tim
 
Re: Help me become a Bimmer nut please!

How much is the seller asking for the car in total?
 
Re: Help me become a Bimmer nut please!

if possible stretch your budget to get a 05 E90 better bro
 
Re: Help me become a Bimmer nut please!

Tim' said:
Seriously I'd hate to give up on the idea of owning my first Bimmer. I can't bear to drive any other car!
Click to expand...

Why do you feel this way?
 
Re: Help me become a Bimmer nut please!

nowadays banks won't loan for coe cars.
if your car happen to be sold by dealer, ask dealer for inhouse loan or go settle for u if they wanna close the deal
 
Re: Help me become a Bimmer nut please!

Okay la I'm getting too drama here.

I would drive other cars definitely.

This COE E46 fits my budget, and with a downpayment I can bring it down to about 600 monthly, providing loan gets approved. Way cheaper than a civic, accord etc

I've seen the car, tested it, brought it to BVO to have it looked at, and all is good. Previous owner has also kindly fixed up the car, with only faults being alignment, and a leaking water pump etc.

I'm not keen on a hatchback, or Nissans or Toyotas, which leaves out alot of other options. Just my preference here.

Also I think the price of Hondas now are somewhat inflated? Don't think its worth it as compared to this E46?

I sold my previous car to the dealers, and the dealer mentioned their loan would also be applied from bank

I'm stalled, really. What do the guys here usually do when they want to buy COE BMWs? I can't pay the full amount, so that's out as well.




Cheers
Tim
 
Re: Help me become a Bimmer nut please!

Tim';757472 said:
I can put around 20% of the cost as downpayment, would my loan then be approved? I don't have bad credit, I can provide my income statements and if need be can provide a guarantor as well. Just wondering how else to get bank to approve. In house loan I heard the interest could get really really high, so in-house loan would be out.

Is the only way to owning a coe bmw to pay the full amount? Any one here able to help me with a loan application or contact? Really appreciate your help

Seriously I'd hate to give up on the idea of owning my first Bimmer. I can't bear to drive any other car!


Cheers
Tim
Click to expand...

Is not your down payment, is the paper value of the COE car.
Bank cannot justify the other 80% even u say u put 20%.

U call those big 2nd car dealer like Hua Yang, they might lend you. High interest.
Try get less than 10yrs BMW la, problem solved.
 
Re: Help me become a Bimmer nut please!

normally in-house loan rate is about 2.5 times of normal bank rate...
 
Re: Help me become a Bimmer nut please!

sszone;757655 said:
buy iscoupe's audi lah, very chio n fierce.....power :dance:

IMG]
Click to expand...

Aiyo TS cannot bear to drive other than BMW la... Some more mine is Toota Camry RS6
 
Re: Help me become a Bimmer nut please!

how to bear or cannot bear also no choice.
most banks are quite tight on their loans nowadays for cars, especially coe ones.
really want it bad then LL try inhouse or maybe finance companies (the legal ones of cos, not those shady money lenders).
pay the extra 2%....close eye, take it as convenience fee, football money or whatever in order to get the car that u die die must have.
cannot bear to pay high interest n LL have to buy other car.....its part n parcel of life....gotta learn to move on.
 
Re: Help me become a Bimmer nut please!

True.

Well its not a die die must have car, just one which I saw and had made up my mind to get it. Its more like the love at first sight kind of feeling, if you know what I mean.

I'm new to the forum still, thanks to all for your inputs.


Cheers,
Tim
 
Re: Help me become a Bimmer nut please!

no worries....almost all of us had the feeling....like the "OMG....thats the RIDE i must have...i am so in love with it"
in alot of cases, most of us have no choice but to bend down to reality.
could be skyhigh prices by dealer, prob with getting loan and other various hiccups but no worries, if this car don't work out, another one will come along later.....just dun be too gan jiong. cheer up bro
 
Re: Help me become a Bimmer nut please!

Tim';757472 said:
I can put around 20% of the cost as downpayment, would my loan then be approved? I don't have bad credit, I can provide my income statements and if need be can provide a guarantor as well. Just wondering how else to get bank to approve. In house loan I heard the interest could get really really high, so in-house loan would be out.

Is the only way to owning a coe bmw to pay the full amount? Any one here able to help me with a loan application or contact? Really appreciate your help

Seriously I'd hate to give up on the idea of owning my first Bimmer. I can't bear to drive any other car!


Cheers
Tim
Click to expand...

dude u r a loser. if u r stretching urself to buy a car the way u sound....i think u dunno ur values. there is a reason why banks r not loaning u. bcos u cant afford it. go buy something u can afford.
 
Re: Help me become a Bimmer nut please!

Tim', while bro totoseow's words may read a little harsh, the meaning they carry is worth deeper consideration. Imagine if you were to suddenly be faced with a family or personal emergency, and you're all maxed out financially - no leeway, no wiggle room, and, NO MONEY left to combat the unexpected.

Not safe, not wise and definitely not on.
 
Re: Help me become a Bimmer nut please!

For a COE car, I supposed it may carry low price point but high depre number on almost-zero residual value. Hence the banks are reluctant to finance such a trade.

If you could, do a full payment on the car, or buy something else based on budget, not based on badge/marque.
 
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