Ok, maybe the lifers here can help me with this one, came at me from an expat friend (apologies, I have no idea, I ride bikes).
So, a car is advertised at $495 monthly payments. I assume 10 yrs = $59,400
But the car in question at the dealer is $135,900
Based on an average car loan calculator at 1.88%, with 90% of the value loaned, thats $122,310...which is nowhere close to the $59,400 above.
So I got thinking - maybe a longer loan period...but even overs 20yrs that doesnt cover it.
So I figure that there must be a hefty downpayment ($75,500!) to get the remainder at $495 a month over 10 years.
But surely the kind of person who is looking for low monthly repayments is not the kind of person who will have $75k lying around for downpayment.
SO how does that work then?!
For info, the promo is http://www.sgcarmart.com/new_cars/newca ... Code=10469
And the loan calc is here http://www.sgcarmart.com/services/loan_ ... bcode=1477
SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
New car repayment weirdness
-
- Reporter
- Posts: 549
- Joined: Thu, 03 Jan 2008 1:12 am
- Location: Singapore
- sundaymorningstaple
- Moderator
- Posts: 39755
- Joined: Thu, 11 Nov 2004 1:26 pm
- Location: Retired on the Little Red Dot
You forgot the fine print. Look at the bottom of the ad. "$3000 above valuation for trade-in"
That's the part that's not spelled out by the asterix next to the payment amounts. So the payment amounts can be had ONLY if certain trade-in of a specific value it offered. Only then, is the balance equal to the amount you figured out.
Sneaky buggers.
That's the part that's not spelled out by the asterix next to the payment amounts. So the payment amounts can be had ONLY if certain trade-in of a specific value it offered. Only then, is the balance equal to the amount you figured out.
Sneaky buggers.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers
-
- Similar Topics
- Replies
- Views
- Last post
-
- 33 Replies
- 29875 Views
-
Last post by bgd
Sat, 05 Sep 2020 12:50 am
-
-
Buying used Car - Car Insurance
by tsarpoet » Fri, 20 Dec 2019 6:04 pm » in Importing, Buying and Selling Cars & Other Vehicles - 4 Replies
- 14192 Views
-
Last post by emergency234
Wed, 16 Jun 2021 4:27 pm
-
-
- 3 Replies
- 6055 Views
-
Last post by Lisafuller
Sat, 16 Jan 2021 3:11 pm
-
- 11 Replies
- 11119 Views
-
Last post by ecriyas4u
Mon, 21 Oct 2019 9:29 pm
-
-
Driving Malaysian car in Singapore with international license
by ribenzo » Wed, 11 Apr 2018 10:22 pm » in Cars & Motorcycles - 6 Replies
- 9614 Views
-
Last post by ribenzo
Wed, 16 May 2018 1:32 pm
-
Who is online
Users browsing this forum: No registered users and 0 guests