Need 3 Series Driver Help
- Thread starter cordone19
- Start date
highbury
Well-Known Member
Re: Need 3 Series Driver Help
Ha Ha jseah,
That pic was taken a long time ago when training for SCSM07. After that I stopped running.Busy and lazy. Haven't put on my jogging shoes for years and I've put on a lot, lot of weight. Horrible. I'm not doing sundown or any runs now. To be frank, I think even 2.4k would be a struggle for me now. That's how much I've dropped. If you run seriously, don't stop or slack, otherwise become like me.
At some point in the future, I may wanna do a sundown (never tried before) or another SCSM. When I decide to start running again, I'll look you up. Just to let you know. I'm very, very slow.
jseah_70;644033 said:
Ha Ha jseah,
That pic was taken a long time ago when training for SCSM07. After that I stopped running.Busy and lazy. Haven't put on my jogging shoes for years and I've put on a lot, lot of weight. Horrible. I'm not doing sundown or any runs now. To be frank, I think even 2.4k would be a struggle for me now. That's how much I've dropped. If you run seriously, don't stop or slack, otherwise become like me.
At some point in the future, I may wanna do a sundown (never tried before) or another SCSM. When I decide to start running again, I'll look you up. Just to let you know. I'm very, very slow.
Re: Need 3 Series Driver Help
Bro, my view on what is affordable is as follows.
Place 30% d/p on the car loan.
Loan 7 years, if the installments are 10% or less of your monthly income not including bonus, then it is comfortable.
In your case, paying almost 60-70% percent of your salary on a car doesn't seem very prudent.
cordone19;642821 said:
Bro, my view on what is affordable is as follows.
Place 30% d/p on the car loan.
Loan 7 years, if the installments are 10% or less of your monthly income not including bonus, then it is comfortable.
In your case, paying almost 60-70% percent of your salary on a car doesn't seem very prudent.
detach8
Well-Known Member
Re: Need 3 Series Driver Help
Like that he needs to earn ~17k/mth leh...
Current 3 series price: $203,800
After overtrade: $203,800 - $30,000 = $173,800 (I tink overtrade is very high now... check with PML)
30% downpayment: ~ $52,000
Balance: $121,800
Loan interest, 7 yrs @ 1.88%: $16,029
Total loan: $137,829
Monthly: $1,641
if $1,641 = 10% of take home pay,
100% of take home pay = $1,641 x (100/10) = $16,410
Current employee's CPF contribution limit: $4,500 x 20% = $900
Actual salary required: $16,410 + $900 = $17,310
Maybe should join TPL
tedlhw;646725 said:
Like that he needs to earn ~17k/mth leh...
Current 3 series price: $203,800
After overtrade: $203,800 - $30,000 = $173,800 (I tink overtrade is very high now... check with PML)
30% downpayment: ~ $52,000
Balance: $121,800
Loan interest, 7 yrs @ 1.88%: $16,029
Total loan: $137,829
Monthly: $1,641
if $1,641 = 10% of take home pay,
100% of take home pay = $1,641 x (100/10) = $16,410
Current employee's CPF contribution limit: $4,500 x 20% = $900
Actual salary required: $16,410 + $900 = $17,310
Maybe should join TPL
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Re: Need 3 Series Driver Help
TPL just quitted her E&Y job and MP's pay of 15k/month should see a reduction with the new scheme so TPL cannot afford a 320i. unless she join another co as a director...
TPL just quitted her E&Y job and MP's pay of 15k/month should see a reduction with the new scheme so TPL cannot afford a 320i. unless she join another co as a director...
detach8;646734 said:Like that he needs to earn ~17k/mth leh...
Maybe should join TPL
Jonnybravo
Member
Re: Need 3 Series Driver Help
Hahaha... i cannot believe so many people actually responded to this thread.
Hahaha... i cannot believe so many people actually responded to this thread.
Jonnybravo
Member
Re: Need 3 Series Driver Help
Hi Alvin,
Nope, no one wants to buy. Think it may be the color. I don't even bother advertising anymore. Maybe just keep first. its sitting there like 6.9/7 days a week tho.:boring:
Hi Alvin,
Nope, no one wants to buy. Think it may be the color. I don't even bother advertising anymore. Maybe just keep first. its sitting there like 6.9/7 days a week tho.:boring:
Re: Need 3 Series Driver Help
LOL didn't realise the 3 is now so ex....
Last time 170K can buy 5 series liao..
Oh well, but seriously i don't feel its too far off.
Cos to buy a almost 180K car, you should be earning around there monthly
Alternatively can down pay a lil more...
My rule of thumb always brings it to around 1 year of basic salary, which is very safe to commit on a depreciating expense.
Well, thats just my view..No right or wrong with these things, just like to be really comfortable when buying "wants".
detach8;646734 said:Like that he needs to earn ~17k/mth leh...
Current 3 series price: $203,800
After overtrade: $203,800 - $30,000 = $173,800 (I tink overtrade is very high now... check with PML)
30% downpayment: ~ $52,000
Balance: $121,800
Loan interest, 7 yrs @ 1.88%: $16,029
Total loan: $137,829
Monthly: $1,641
if $1,641 = 10% of take home pay,
100% of take home pay = $1,641 x (100/10) = $16,410
Current employee's CPF contribution limit: $4,500 x 20% = $900
Actual salary required: $16,410 + $900 = $17,310
Maybe should join TPL
LOL didn't realise the 3 is now so ex....
Last time 170K can buy 5 series liao..
Oh well, but seriously i don't feel its too far off.
Cos to buy a almost 180K car, you should be earning around there monthly
Alternatively can down pay a lil more...
My rule of thumb always brings it to around 1 year of basic salary, which is very safe to commit on a depreciating expense.
Well, thats just my view..No right or wrong with these things, just like to be really comfortable when buying "wants".
VincentEmmanuel
Well-Known Member
Re: Need 3 Series Driver Help
Maintenance for a WRX shldnt differ much from a 3 series. As long as you are comfortable with the instalments I dun see any problem with it. My basic principles of comfortably buying a car is always down at least 20% and never loan the full term.
Maintenance for a WRX shldnt differ much from a 3 series. As long as you are comfortable with the instalments I dun see any problem with it. My basic principles of comfortably buying a car is always down at least 20% and never loan the full term.
ktnpl
Well-Known Member
Re: Need 3 Series Driver Help
2 years ago, $170K could buy a 525i with COE $53K. E90 320i was $107K with OMV >$35K. This may happen again when the next financial tsunami hits us.
TS mentioned he is looking at 2009 320i which is selling at the same price when it was new. Might as well save up and buy a new one at the same price when the opportunity strikes again.
tedlhw;647181 said:
2 years ago, $170K could buy a 525i with COE $53K. E90 320i was $107K with OMV >$35K. This may happen again when the next financial tsunami hits us.
TS mentioned he is looking at 2009 320i which is selling at the same price when it was new. Might as well save up and buy a new one at the same price when the opportunity strikes again.
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ktnpl
Well-Known Member
Re: Need 3 Series Driver Help
Even at car loan rate of 1.88%, the effective interest rate is more than 3%. Saving up now to buy later is still the best option. After saving for 10 or 20 years, and investing wisely along the way, the investment returns alone could fetch a new car
Even at car loan rate of 1.88%, the effective interest rate is more than 3%. Saving up now to buy later is still the best option. After saving for 10 or 20 years, and investing wisely along the way, the investment returns alone could fetch a new car
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andy_sg
Well-Known Member
Re: Need 3 Series Driver Help
3k per month isn't a lot of money.. moreover you mention that your income fluctuates depending on your sales performance..
on the other hand, you've to consider miscellaneous expenses such as
- personal life/term insurance
- family household income
- phone/internet bills
- shopping/movies/dining
The above can easily take up 1K at the minimum so you're left with 2K to juggle with your car.
You might be single now, but will you be a bachelor for the next 5 years?
BTW, how much do you plan to set aside for savings each month?
Don't spend everything you earn!
3k per month isn't a lot of money.. moreover you mention that your income fluctuates depending on your sales performance..
on the other hand, you've to consider miscellaneous expenses such as
- personal life/term insurance
- family household income
- phone/internet bills
- shopping/movies/dining
The above can easily take up 1K at the minimum so you're left with 2K to juggle with your car.
You might be single now, but will you be a bachelor for the next 5 years?
BTW, how much do you plan to set aside for savings each month?
Don't spend everything you earn!
