car downpayment or house loan?

[tankteam]

hi, I would like to know if it is better to spend money in 2nd hand car downpayment or keep the money in my existing house loan?I have flexi house loan. blr - 1.9%I think 2nd hand car interest is about 4% which is the best interest saving way?if put in house loan, I will be able to use it to pay downpayment for another house for investment in the future.Tq in advance.

 

[Ecc0]

..spend it on house man..you may just step outside for a first time with your car, and got hit by some maniacal driver and all that investment of yours is gone..invest in car when all other critical things for a life are sorted out..

 

[LiteBulb]

house is practical, car is luxury.

luxury is for when you have extra to spare.

 

[Alex5522]

I agreed on both bros comments above. Sure for house for me.

 

[bmw7833]

Go for car! How many ten years u left? Enjoy your life! :4:

 

[desbimmer]

property anytime...spare cash then car ler...

 

[seewai]

Property first....the ROI of this property (eg rental, sale) could pay for your future car. End of day you get "House + car" when you just pay for house.

 

[initialM]

House 1st then car coz house appreciate but car depreciate. I almost sold both my BMW at 1 point for a house but lucky manage to sort things out. Thanks to God.

 

[gendong]

A house for sure bro..... Design the house well then fit the car in.

 

[jim2106]

Me vote for house too!

 

[JFT63]

I had them both at the same time....the car and house....luckily things were approved by bank n gomen..

However, my verdict is still....
1. house 2. car

 

[Creazee]

House ... without a house there isn't a place for the car

 

[solo]

House ... without a house there isn't a place for the car

Unless its an RV or motorhome designed by BMW. Imagine if BMW designed something like this:-

BTW this RV is the Marchi Elemment and it's built in Germany.

Salut

 

[ICEMAN 68]

buy a new house and get a car around rm15K ....e34 / e36 / e30 ( Cash paid for the car ) and end of the day it's still a BMW ..

 

[zhul]

Depends on what you want the car for. It may be better to get the car as the returns from activities from using the car could be higher than putting the money on another house. The local house market is messed up anyway, prices are crazy and not many qualified buyers these days.

 

[ezzo369]

house first, car second. unless you dont mind living in a car

 

[wutty]

Here I think tankteam is planning to buy a car and considering whether to use the available funds from his/her flexi housing loan for down payment fr the car.

If I am that position, I would use the funds from flexi loan to minimise the the car loan amount.

However when it comes to repayment I would treat it a a third loan, that is to pay extra on the flexi loan to cover for the amount taken out for the car down payment. But then it is easier said than done.

 

[tankteam]

hi all, Tq for ur comments but u misunderstood me.

I already have a house. let say I still have a house loan of rm100k n I want to buy a 2nd hand car now.

should I do which of the following?
1) pay rm10k for car downpayment
2) keep the rm10k in my flexi home loan n get 100% car loan?

hope u understand my question.

 

[EL118]

hi all, Tq for ur comments but u misunderstood me.

I already have a house. let say I still have a house loan of rm100k n I want to buy a 2nd hand car now.

should I do which of the following?
1) pay rm10k for car downpayment
2) keep the rm10k in my flexi home loan n get 100% car loan?

hope u understand my question.

this would depends on a few considerations
1) the interest rate you r enjoying with your flexi home loan. (for housing loan, the BLR - ?? rate is the effective rate)

2) the effective interest rate u will be charged for the car loan. (we are talking about effective rate here, not the flat rate. normally the effective rate for car loan is about twice the flat rate. eg if flat rate at 3.6%, effective rate is around 7%)

3) whether u forsee to use the RM10k fund in the immediate future.

4) whether u can get higher return on investment from the 10k. eg if u can get 10% return per annum, then u should borrow full loan on car, withdraw from the flexi loan and invest.

 

[initialM]

this would depends on a few considerations
1) the interest rate you r enjoying with your flexi home loan. (for housing loan, the BLR - ?? rate is the effective rate)

2) the effective interest rate u will be charged for the car loan. (we are talking about effective rate here, not the flat rate. normally the effective rate for car loan is about twice the flat rate. eg if flat rate at 3.6%, effective rate is around 7%)

3) whether u forsee to use the RM10k fund in the immediate future.

4) whether u can get higher return on investment from the 10k. eg if u can get 10% return per annum, then u should borrow full loan on car, withdraw from the flexi loan and invest.

Yeah this options must be considered if talking about investment.
Since u only left 100k for housing loan its not too much.
depend on how much you earn and how you manage your expenditure only you can decide.
Buying used BMW must spare cash also at least 10k to 20k for repairs & maintenance.
Your age also important in planning. Its all about planning and if you dont planning properly you plan to fail.
hahaha too many planning can cause pening also hehehe