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The BMW Range
3 Series
E46
to buy or not to buy
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<blockquote data-quote="Schwepps" data-source="post: 180107" data-attributes="member: 3592"><p>Glad to see that you're still looking for a Bimmer although you've "decided" to get a Civic <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /> A Civic is a good car, but a 3 is a great car! Suggest you don't go older than an E36. Fewer issues like rust, scarce spares, etc.</p><p></p><p>And don't worry about getting into HP to purchase a car. There's nothing wrong with the economic concept of leveraging and asset rental. Any businessman worth his salt will never make money using his own if he can get financing from banks or the capital market. As for term, any finance man will tell you that the lower the cost (interest rate) the longer the term you should take, and vice versa. I won't go into a boring DCF calculation to show you why.</p><p></p><p>When I bought a Myvi for my parents, I still bought it on HP although I could have written a cheque for the 50k. Why? Because now that the income tax regime has changed to self-assessment, one of the triggers for the IRD to initiate an audit of a taxpayer is if he buys a car in cash. They do track car transactions because when I bought a Merc for my wife, within 2 months there was a letter from the IRD asking me for details of how I purchased it. Used car transactions may not fall into this net....but then again who knows? A wise man would not buy a car in cash if he wants to avoid appearing in the IRD radar.</p><p></p><p>BTW, I bought my first Bimmer, a used 2002Tii, when I was earning 2k a month (when the RM was worth a lot more) and enjoyed every minute of pulling birds off the Tin Mine dance floor into it <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite8" alt=":D" title="Big Grin :D" loading="lazy" data-shortname=":D" /></p><p></p><p>Live the spirit of the UDM if you can Syahril!</p></blockquote><p></p>
[QUOTE="Schwepps, post: 180107, member: 3592"] Glad to see that you're still looking for a Bimmer although you've "decided" to get a Civic :) A Civic is a good car, but a 3 is a great car! Suggest you don't go older than an E36. Fewer issues like rust, scarce spares, etc. And don't worry about getting into HP to purchase a car. There's nothing wrong with the economic concept of leveraging and asset rental. Any businessman worth his salt will never make money using his own if he can get financing from banks or the capital market. As for term, any finance man will tell you that the lower the cost (interest rate) the longer the term you should take, and vice versa. I won't go into a boring DCF calculation to show you why. When I bought a Myvi for my parents, I still bought it on HP although I could have written a cheque for the 50k. Why? Because now that the income tax regime has changed to self-assessment, one of the triggers for the IRD to initiate an audit of a taxpayer is if he buys a car in cash. They do track car transactions because when I bought a Merc for my wife, within 2 months there was a letter from the IRD asking me for details of how I purchased it. Used car transactions may not fall into this net....but then again who knows? A wise man would not buy a car in cash if he wants to avoid appearing in the IRD radar. BTW, I bought my first Bimmer, a used 2002Tii, when I was earning 2k a month (when the RM was worth a lot more) and enjoyed every minute of pulling birds off the Tin Mine dance floor into it :D Live the spirit of the UDM if you can Syahril! [/QUOTE]
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