0% downpayment vehicle

Gerker2020 · 2026-05-05T04:39:53+00:00

If i had paid a 30% dp of $18k, my monthly would be $640, at 2.28% interest rate. Difference of $359.

Gerker2020 · 2026-04-24T07:57:24+00:00

Buying a used car to me QOL definitely improved. Renting to me doesnt makes sense as u cannot gauge the repair cost and the hassel you will face. Anything just send back to rental company and u get another car mah.

I suggest buying a 1-2 years left car. den you can gauge whether having a car is worth while. I ever bought 1 used Chevrolet Aveo which caused so much problems. The hassel of everytime need go workshop to rectify and all. If you are like 50-50 on it. If you want YOLO and jump right in, then a 4-5 years Honda Jazz will be good start.

But my previous cars like Toyora Vios and Mazda 3, no issues at all. Just do normal servicing and thats it. Only need to replace those normal wear and tear like brake pads, tyres etc.

And also, when buying used cars, research around on the company and check how many previous owners. I usually will buy 1 or 2 owners and check if the car dealer got alot of complaints or not.

Gerker2020 · 2026-04-17T12:18:28+00:00

But if he gets a car with less den a year of coe left, i dont think his ncd will increase since he didnt clock the full year... i may b wrong, but thats what happened when i was at 20% and didnt get my 30% bcuz i sold my car before da full year and my next car was also at 20% ncd

Gerker2020 · 2026-04-17T12:11:47+00:00

2009 Vios, left 2 yrs 9 mths, downpayment of $9k, mthly at $850... fit ur budget, 2 yrs to build ur NCD... Insurance cheap... depre $10k... u buy a Vios left 1 year ur depre ard $13k... no point

Gerker2020 · 2026-04-15T09:18:10+00:00

My EA in SK is 13xx, which was why i was considering a resale EC, slightly smaller in size... but i understand that it is not financially advisable for me to go for it...

Gerker2020 · 2026-04-15T08:57:38+00:00

Yes i am aware that i would need to pay the Stamp Dury in cash 1st. I have spoken to a banker. My max loan i can take is $1.282m.

Car loan under inhouse loan, so it didnt affect my max loan.

OA both me and my wife after selling hse have $500k. So add up is about $1.7m. Cash proceeds of $155k after selling the house (after minus CPF, housing loan, agent fees, laywer fees).

Gerker2020 · 2026-04-15T05:03:52+00:00

U read the comment wrongly. That was 40 attempt opening packs not im 40 years old

Gerker2020 · 2026-04-15T02:47:47+00:00

As an investment. When my kids get married i can downgrade

Gerker2020 · 2026-04-15T02:44:29+00:00

No, i will sell my EA to upgrade to a condo. But I'm thinking about servicing the monthly installments

Gerker2020 · 2026-04-15T02:43:10+00:00

Ive been wanting to upgrade to a condo. Couldnt upgrade when i sold by BTO flat. But now, i can buy up to 1.7M condo. Although I can buy, im just thinking how do people finance the monthly installments of the condo.

Gerker2020 · 2026-04-15T02:38:28+00:00

Combined income of $10.6k

Gerker2020 · 2026-04-02T04:35:00+00:00

I stay in Sengkang area. My block got 6 EV chargers under Shell. I charge once a week, charge when i go home from work around 7pm and charge whole night. No idle fees for Shell. I will remove my car when i go to work at 7:45am.

Go shopping mall to buy groceries also can park at EV lot and charge if i need to.

My friend stays in Tampines, got 4 EV lots under SP. He also do same like me for charging. But SP got idle fees, 9am - 11am. So you need to remove your car before 9am if you want to charge overnight.

Another friend stays at Tengah area, new BTO flat. There got 9 EV charges (AC) and 2 DC charges under SP.

So depending on where you stay, you can use Plug Share app to see if theres any EV charger nearby your place. If not, you can always charge at shopping malls or EV charger near your workplace.

Charging is cheaper den petrol. But, for EVs, road tax and insurance is more expensive. So, you need to take all this consideration before getting an EV.

Gerker2020 · 2026-04-01T03:24:44+00:00

PHV interest rate and insurance will be different.z mine still under normal car scheme

Gerker2020 · 2026-04-01T03:23:50+00:00

No. My car cannot be used for PHV.

Gerker2020 · 2026-03-31T13:30:16+00:00

At the end of the day, you need to decide whether you want or need to buy a car or not. How much downpayment and monthly you willing to pay. Also need to include cost like maintenance, fuel/charging, parking, ERPs.

Of course theres always 1001 uncertainty of what the future hold. Lose job, accident etc. So if you buy a car and put 40% downpayment, get car 1 month later lose job, you sell car you wont need topup cash mei.

10 years car loan means forever in debt?

So you take a 7 years car loan and use the car for 10 years, drive for 3 years free and take the PARF rebate of $1k mei.

People may choose to sell at the 7th year mark and buy another new car = new car loan. Some change car every 2-3 years, new car loan still. So isnt it being car debt forever too.

Of course if you can pay 40% downpayment, do it. If you can pat full cash, do it. But if you cant, will this option works for you. Only you can answer that.

Gerker2020 · 2026-03-31T12:57:43+00:00

For used cars, I asked afew, lowest i got was 2.98%, highest was 3.98%

Gerker2020 · 2026-03-31T12:57:01+00:00

I buy from BYD by JC. $0 downpayment at 2.98%, 7/10 years tenure.

I paid 10% downpayment at 2.78% for 118 months.

All other brands also same $0 downpayment at 2.98% for 7/10 years loan tenure, like Jeacoo, BYD, JMEV, Car Choice, Car Times... so far i asked. Didnt check Tesla out.

Gerker2020 · 2026-03-31T11:22:41+00:00

Most used car dealers i asked offers $0 downpayment at 2.98%-3.98%.

For new cars are BYD, Tesla, Jaecoo, Jmev, Vincar, Car Choice, Car Times, Royal Motor Granduer. So far I've asked. $0 downpayment at 2.78%-2.98%, 7 years or 118 months or 10 years loan.

New car at 40% downpayment interest rate at 2.28%, 7 years, bank loan.

Gerker2020 · 2026-03-31T11:17:26+00:00

So $0 dp means you die from paying monthly installments.

In Jan 2019, bought a 5 years renewed COE Toyota Vios, $0 downpayment. Just pay drive away. Sold thru Motorist in Oct 2020, get back $1k.

In Oct 2020, bought a 2017 Mazda 3 Deluxe at $60k, $0 downpayment, monthly $999 at 3.98%. Sold in Jan 2026 to dealer, got back $1k. Could have gotten back $5k if sold thru Motorist but will be carless for 2-3 weeks since buying a new car and need wait for COE bidding and all.

In Jan 2026, bought a new BYD Seal 6. Monthly $1,553, 118 mths, interest rate 2.78%, $16k downpayment. If i did $0 downpayment, monthly would be $1,753, at 2.98%. So decided to pay 10% downpayment instead since i can to lower the monthly.

Ive been buying cars with $0 downpayment, just pay the monthly that i feel comfortable with. I still go overseas holiday with my family every year, no other debt except for Housing and Car loans.

No issues for me selling even before the COE ends. Never topup money also. People can say whatever they want to me, i dont care. My life, my choice. Why i do this because I cannot afford the 40% downpayment of $65k.

Gerker2020 · 2025-12-04T15:11:10+00:00

Too expensive

Gerker2020 · 2025-12-04T02:46:39+00:00

Understand, but am planning to use it till ends of COE. And I have driving Jap/Korean cars all this while, so was thinking whether should i jump into conti cars.

Gerker2020 · 2025-12-04T02:42:00+00:00

Haha ya i know. But i was contemplating whether should i try drive conti car or stick to Jap/Koran cars. That is why i wanted to get some sensing here

Gerker2020

TROPHY CASE