How many years is your car hp installment?

[anxious]

How many years is your car hp installment? Dear FriendsI am just curious as to how long you guys take out your hp loans.I bought my E30 cash but I cant do that with my next UDM which shold be much newer and of course cost much more.Would you care to share your experiences ie which model and how long and of course take part in the poll.I am sure this will be a point of interest.CheersAnxious

 

[kelvinp]

i think buying an e30 or an e36 cash won't create much problem with the tax agents.. I guess only the e46 and above will be hunted down.

 

[ICEMAN 68]

wow you bought you e30 cash.. kewl

my next car too me wanna buy cash ..wanna be free from HP and also at the same time can use the money for a good holiday and so on...

maybe an e39 in on my mind in another 2 years.... Cash is my target.

 

[Bailey]

iceman13 good lah to hear u r getting 5 silli also ya then u can join us for the 5ers MAKAN OUTING.....cheers

 

[KL2DC]

Downpayment and 3 years financing

Should work out ok with projected 60% residual (if I can keep below 50k miles) and 7% discount off MSRP.


All you cash buyers are ballas!

 

[chairoger]

The shorter the HP,the better!

 

[BiMmEr78]

The last post is really irelavant and nowdays i noticed too many new ppl outside posting such a crap in this forum .... its getting bad .... ok back to thread ... i guess its all in our afdordability measures that how long period u wanna take loan n so on .... i took 5 years for my E36 n yet still still haven finish ... of coz the lower duration the better it is

 

[2046]

Very Gd Idea, E39 Is Superb Car To Drive, Hope U Get It Earlier

 

[LCP]

Car is a depreciating asset, so, as far as possible, take as little loan for it, and also for the shortest repayment duration...

 

[matasura]

Car is a depreciating asset, so, as far as possible, take as little loan for it, and also for the shortest repayment duration...

yeah..
should agree with that...

 

[Wlvrn]

cold hard cash earned and paid for the E36

 

[AnnSensual]

And explore your naughty side!

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[Crymson]

Took my E36 for 6 years with 2 years to go.

Now, am planning to get a E39 next year with 9 years loan. The difference between paying a 9 year repayment and 6 year repayment, I'll invest. I'd probably be able to recope more than what I have to pay for the car's interest. My wife is buying a Cooper next year too, going on the same strategy.

 

[anxious]

After I started this thread, I hv since purchased a E36 325i also for cash. Of course it was only RM40k.

I may not be able to do the same for my next car.

 

[initialM]

Took my E36 for 6 years with 2 years to go.

Now, am planning to get a E39 next year with 9 years loan. The difference between paying a 9 year repayment and 6 year repayment, I'll invest. I'd probably be able to recope more than what I have to pay for the car's interest. My wife is buying a Cooper next year too, going on the same strategy.

Good move, since interest rate are much lower compare 10 yrs ago its better to go hire purchase than cash buy. But if possible bigger downpayment so that u'll pay smaller installment. So you'll have extra cash to maintain/mods yr bimmer:top:
As for loan term 5 to 7 yrs are better. Of course saving & investment is a must:rock:

 

[E46Fanatic]

After I started this thread, I hv since purchased a E36 325i also for cash. Of course it was only RM40k.

I may not be able to do the same for my next car.

Anxious, not many people have such good foundations of buying things cash in today's credit driven world. I think its a great thing. It shows how much self control you have. Dont be tempted and do what I did LOL.

The new car HP interest rate was very low when I bought my E90, basically 2+% HP rate which equates to effective interest rate of just over 4% for me (not much more than 1 yr FD savings rate). Since the E90 was not a planned purchase for me, I took the easy way out of not forking out a significant amount of cash and traded in my E46 which was fully paid off, and financing a bulk of the balance. I just finished paying off my 2nd house a couple of months ago and it feels superb. The E90 is standing in between me being the status of completely debt free. I can't wait for the day to come!

 

[dannybaba13]

yes debt free is the best but stil wit some burden is better,,pressure n struggle make a human wise and better n mature in handling better sitution regards tq tqvm dan

 

[farex]

IMHO, if you have house loan, if you got the cash. better you pay off your house than using it to buy a car using the cash. as car loan interest rate not as high as house loan.

just my 2 cents.

 

[Crymson]

IMHO, if you have house loan, if you got the cash. better you pay off your house than using it to buy a car using the cash. as car loan interest rate not as high as house loan.

just my 2 cents.

Also, not as fluctuating (if you take the flexi rate). If want to pay cash to so call save interest, calculate how much interest you pay for car purchase (7, 8 or 9 years) and how much you pay for housing loan. Which are you paying more?

 

[farex]

Also, not as fluctuating (if you take the flexi rate). If want to pay cash to so call save interest, calculate how much interest you pay for car purchase (7, 8 or 9 years) and how much you pay for housing loan. Which are you paying more?

in matter of fact the interest in house will be more. if you can afford to buy a 100k car with an interest rate of 2++% you should/would probably has a 300k ++ house with the interest rate of let say 5% fixed? which one would you choose? car only for 5-9 years while house... 15-35 years maybe... but it depends also lar... try calculate ur self to see which one u will save. anyway, if house no more loan, just buy cash the car lar... huhuhu~