Menu
Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Reply to thread
Click here to become an Official Member of BMW Club Malaysia
Download Form
Home
Forums
General Forums
General Discussions
car downpayment or house loan?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
<blockquote data-quote="wobbles" data-source="post: 573120" data-attributes="member: 24637"><p>Err, I only managed to pay off the F02 as quickly as I did because (thanks to the COE) I hardly lost any money at all when I traded in my old E65. From start to end (2 years), I only lost less than $15K on the depreciation - and since that was also a fully paid off car, the difference really off-set the purchase price of the F02. And, Performance Motors also gave me a generous overtrade of close to $20K, which actually meant that I 'made' $5000 when I sold the E65 back to them. Possibly, they were chasing quota, so they were being so generous.</p><p></p><p>All in all, I was left with only an approx $60,000 loan to settle, after trade in, after overtrade, after deposit ($35,000), so I took out a one year in-house loan at 1.88%. </p><p></p><p>If I put the $60K in a time deposit, I would have earned only 0.8% interest. If I put the $60K in the stock market, the STI dropped 17% in 2011 - but in any case, I don't play stocks at all (absolute no no for me). So, I thought I'd 'earn' by clearing out the loan ASAP (so to give me more ammunition to buy the F13 mah).</p><p></p><p>But, honestly, the F13 will be a very different story - I don't have another car to trade in, and at nearly $385,000 - $35,000 deposit = $350,000 more to go, I'm definitely looking at a much longer loan this time!</p></blockquote><p></p>
[QUOTE="wobbles, post: 573120, member: 24637"] Err, I only managed to pay off the F02 as quickly as I did because (thanks to the COE) I hardly lost any money at all when I traded in my old E65. From start to end (2 years), I only lost less than $15K on the depreciation - and since that was also a fully paid off car, the difference really off-set the purchase price of the F02. And, Performance Motors also gave me a generous overtrade of close to $20K, which actually meant that I 'made' $5000 when I sold the E65 back to them. Possibly, they were chasing quota, so they were being so generous. All in all, I was left with only an approx $60,000 loan to settle, after trade in, after overtrade, after deposit ($35,000), so I took out a one year in-house loan at 1.88%. If I put the $60K in a time deposit, I would have earned only 0.8% interest. If I put the $60K in the stock market, the STI dropped 17% in 2011 - but in any case, I don't play stocks at all (absolute no no for me). So, I thought I'd 'earn' by clearing out the loan ASAP (so to give me more ammunition to buy the F13 mah). But, honestly, the F13 will be a very different story - I don't have another car to trade in, and at nearly $385,000 - $35,000 deposit = $350,000 more to go, I'm definitely looking at a much longer loan this time! [/QUOTE]
Verification
Post reply
Home
Forums
General Forums
General Discussions
car downpayment or house loan?
Top
Bottom