Mazda 6 is having a promotion now to clear stock for new model launching. So they are giving 20k discount!I love the Mazda 6 appearance. *The Installment is RM1600, no down payment, and free 3 years maint. Now I'm paying RM900 installment + average RM900 maint cost per month for my E39.So I went for a test drive today. Guess what, I'm sticking with my E39. After the test drive I know why people say, once you own a BMW, there is no turning back. The driving experience of E39 is just so different that even a brand new jap car cannot replace. Power, handling, comfort, my 11 year old junk still way ahead!
E39 vs Mazda6
- Thread starter Lithium2
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Lithium2;762675 said:
Mind telling us why a new car can't beat an 11 year old E39?
And may I know how much is the price after the 20k discount? Rm1600p/m for how many years?
I was planning to test drive the 6 too (no intention of buying but I like to test new cars). I have tested the Optima K5 and the VW CC.
Well... pro and cons..
But as for me I hate taking long HP loans..I don't really like paying compounded interest. I hope our banks will stop this unfair HP loan as the interest is calculated based on the initial loan amount unlike housing loans.
Cheers all!
zib;762690 said:
Yeah, for sure getting a new car have its pros. I own my E39 for only 7 months, I have spent almost Rm20k on it already and still not finish doing it up yet. The worst thing is I got it towed twice in 7 months, with my wife in it, once due to radiator spare tank bocor, another time due to gear oil pump bocor. No early signal at all, it just break down. I had my 20 year old civic but never experinced towing before. And most of the time coming back from workshop with a 4 digit bill. So you can guess what my wife's opinion about the car.
So it's obvious why a new car comes to mind, with the money I'm spending on the E39, I looked for alternatives, so mazda6. But after the test drive, I will stick to the junk for a while. Acceleration, handling, comfort, E39 still tops the Mazda6, of course this is only my personal feeling, you should go test drive it and tell me your opinion.
As for the long HP loan, an auto loan interest is only at around 2%. If you have a housing loan, it should be at 4-5%. And there are people who can invest with 20% annual return. So it's very personal as well, some people like to pay cash for everything, they just don't like the feeling of having debts, some people like to leverage and take risk.
Lithium2;762723 said:
Well the cons of own owning a UDM..
Offtopic on the HP loan, I am afraid that is not quite true. Housing loan is calculated on daily rest or if you like reducing interest as the interest is calculated on the remaining unpaid amounts taken.
Car loans use Rule72 which is ok for investment projections but quite unfair to apply for any financial institutions. In the US and the UK, this rule72 is illegal i.e calculating loan interest on compounded basis.
If you use the mortgage calculator on the internet and assuming you are taking an RM100k housing loan as a car loan for 5 years, u will see the payment is much much lower than the HP loan calculation as the method of arriving at the payments are different.Try here :http://www.iproperty.com.my/financing/calculators/mortgagepayment.aspx
Now do the same and take a normal HP calculator (e.g. here http://www.autoworld.com.my/v2/tools/loan_payment.asp) and put the same amount of RM100k and the same interest. See how much you get?
Roughly speaking a 2% flat rate pa for HP is equivalent to 4% pa reducing balance for a mortgage. So most HP loans are giving ca~3% flat which is almost equivalent to ~6% pa for mortgage. FYI credit card interests are also calculated based on reducing balance. ONly Ah Longs calculated based on flat rates
So it is best to keep HP loans short and as minimum as you can. In other words, if you have cash for a car then better pay cash or dump more than 30% as downpayment. Well...not easy to do for most people in MY unfortunately myself included...huhuu
yes it all depends on the risk appetite of the individuals..
_M_
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Its off topic but you guys are having a good discussion here, so heres my 2 cents..
Since they are effectively similar (i recently took a HP at 2.3% and a mortgage at 4.2%), the HP rate is better as it is fixed, considering interest rates are hovering at the bottom of the cycle.
Yes, leveraging depends on risk appetite. But there are many capital protected investments that yield more than 4%. So gear up, let money make money and buy more UDM!! :burnout:
Since they are effectively similar (i recently took a HP at 2.3% and a mortgage at 4.2%), the HP rate is better as it is fixed, considering interest rates are hovering at the bottom of the cycle.
Yes, leveraging depends on risk appetite. But there are many capital protected investments that yield more than 4%. So gear up, let money make money and buy more UDM!! :burnout:
_M_;762767 said:
Given that our cars are very expensive due to taxes,AP, fat profit margin by greedy dealers, I would like to see more 0% pa interest to buy new cars.
The lowest I have seen was like 0.88% given by some main dealers of Nissan,Hyundai and Naza. Now SD Alfa is doing it with the JTS 2.2. But 0% was only for Naza 207 IIRC.
zib;762755 said:Well the cons of own owning a UDM..
Offtopic on the HP loan, I am afraid that is not quite true. Housing loan is calculated on daily rest or if you like reducing interest as the interest is calculated on the remaining unpaid amounts taken.
Car loans use Rule72 which is ok for investment projections but quite unfair to apply for any financial institutions. In the US and the UK, this rule72 is illegal i.e calculating loan interest on compounded basis.
If you use the mortgage calculator on the internet and assuming you are taking an RM100k housing loan as a car loan for 5 years, u will see the payment is much much lower than the HP loan calculation as the method of arriving at the payments are different.Try here :http://www.iproperty.com.my/financing/calculators/mortgagepayment.aspx
Now do the same and take a normal HP calculator (e.g. here http://www.autoworld.com.my/v2/tools/loan_payment.asp) and put the same amount of RM100k and the same interest. See how much you get?
Roughly speaking a 2% flat rate pa for HP is equivalent to 4% pa reducing balance for a mortgage. So most HP loans are giving ca~3% flat which is almost equivalent to ~6% pa for mortgage. FYI credit card interests are also calculated based on reducing balance. ONly Ah Longs calculated based on flat rates
So it is best to keep HP loans short and as minimum as you can. In other words, if you have cash for a car then better pay cash or dump more than 30% as downpayment. Well...not easy to do for most people in MY unfortunately myself included...huhuu
yes it all depends on the risk appetite of the individuals..
Right, I know the difference between auto HP loan and housing mortgage.
For me, if I'm getting a auto HP loan with interest of 2% or below, I will drag it as long as possible to get a better cash flow for other things or investment. But higher than 3% then it's not smart.
Anyway if we are talking about saving money or investment here. We should not think about an aged UDM. You will only lose more and more money in the fastest rate with it. Haha
OK just came back from Mazda 6 2.5 test drive along the Federal Hway branch.
For me as it is a new car, it drives well, quiet enough and power is so-so (well it only has 175hp vs 190hp for a 2.5). The car is also lighter but only comes with 5 speed.
Equipment wise is good.Namely:
- Satnav (papago)
-MP3/ipod/bluetooth
-Auto headlight and rain sensor
-Front electric seats (driver has memory)
-Autocruise
-6 airbags
-Electric power steering
-On board trip computer
-Traction ctrl
-AFS (headlight that follows steering angle above certain speeds)
-Bi-Xenon headlights
-Start/stop button (keyless)
-Nappa leather
The only downside is that the dashboard on the driver side is hard plastic. But the passenger side is ok with soft padded dash. All door trims are soft touch and of good quality.
RM20k discount is not bad and it comes with 3 years free service parts and labour + 3 years warranty.
Not bad eh?
For me as it is a new car, it drives well, quiet enough and power is so-so (well it only has 175hp vs 190hp for a 2.5). The car is also lighter but only comes with 5 speed.
Equipment wise is good.Namely:
- Satnav (papago)
-MP3/ipod/bluetooth
-Auto headlight and rain sensor
-Front electric seats (driver has memory)
-Autocruise
-6 airbags
-Electric power steering
-On board trip computer
-Traction ctrl
-AFS (headlight that follows steering angle above certain speeds)
-Bi-Xenon headlights
-Start/stop button (keyless)
-Nappa leather
The only downside is that the dashboard on the driver side is hard plastic. But the passenger side is ok with soft padded dash. All door trims are soft touch and of good quality.
RM20k discount is not bad and it comes with 3 years free service parts and labour + 3 years warranty.
Not bad eh?
initialM.. i have to agree with you bro. I can't say it enough.. it is call ultimate driving machine for a simple reason... because it is. Even though i have the pleasure of owning a 740iL (V8)and 750iL (V12), 39's are one balance car that you still have enough space for passengers.. and 'enough' handling when you want to push it.
my 7'er are powerful, comfort but i can't do things on 7'er like how i drove my 39'.
i would have to say it is more solid than 60's... but F10' is a real deal too..
just my 2 cents worth
my 7'er are powerful, comfort but i can't do things on 7'er like how i drove my 39'.
i would have to say it is more solid than 60's... but F10' is a real deal too..
just my 2 cents worth
huskar3399
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i like my >10 yo e39 smell more than other cars that i've already been inside. but not for my wife & sisters. pening they said. lolzib;762847 said:
i have to like this statement. they belong to different leagues.
