Malaysiaminilover

Tag: loan

  • Buy car with cash vs. Buy car with auto loan

    Here is another article for buy car with cash vs. buy car with auto loan. Previously, we have discussed which one is better in many kind of scenario. Here is one where we compare if you buy a car with cash and buy a car with auto loan and use the cash to pay off the auto loan. This scenario is unlike all previous cases, where you keep the money in the same place but you have to pay the monthly car payment from other source of income. (more…)

  • Buy car with cash when car loan is high? Smart or stupid?

    Previously we did a simple calculation to compare buy car with auto loan and buy car with cash in the United States. The result somehow turn out buying a car with car loan is more practical as buyer tends to save up few thousand dollars in the end. The logic works for some other countries which have different kind of auto loan system than the U.S. including Malaysia, Thailand, and Singapore (see also: buy car with cash in Malaysia: Smart or Stupid? and Buy car with cash vs. Buy car with auto loan). After some of our editors had a further discussions with some auto dealers, here is another case to compare whether it is better to buy car with cash or with auto loan when the loan interest rate is high. (more…)

  • Car Loan – An advice to listen before taking one

    It’s a beautiful day and you are on your journey to a resort to enjoy your holiday. While you are driving your car, suddenly “Boom!!!” One of your car tires blowouts and luckily you did not drive fast and able to get the car towed to nearest workshop. Now problem has come if you are on tight budget every month paying your car loan, credit cards, house loan or house rental.

    Most of the people did not really allocate some money for car maintenance, or in other words, they did not even follow the basic car maintenance schedule to take care of their car. Otherwise, blown tire will not happen. Here comes the question, aren’t every car come with owner’s manual that tells the owner when to give the car a basic check and replace what is needed to be replaced?

    Mainly, there is only a reason when people do not maintain their car, money. InAmerica, if the car loan is higher than roughly 13% of your monthly income, it is consider high. If you are able to loan a car with monthly car payment of $400 dollars, you should consider getting a car within $300 to $350 monthly car payment. Save up the $50 for car maintenance. In US, a standard 16” tire could cost from $80 to $110. When you get a blown tire because of the tire thread has wear out, you MUST change all the other tires together. That means you will have to at least prepare $400 for the tire and another $100 for labor, car alignment adjustment as well as balancing. Keep in mind that $500 is just for tire maintenance, the calculation haven’t include basic maintenance like engine oil change, transmission oil, air filter, brake pads, brake fluid, and among others.

    In a nutshell, consider properly before signing up any car loan, try not to make it higher than 11% of you or your total household income. Check properly the warranty dealer give to you. There are many things always did not included in the warranty or extended warranty. Car tire blowouts are always the top cause of any car accidents, therefore, keep your car in best condition is a must. If you want to drive a luxury car, make sure you drive it in a rich way that money to maintain it is never be a concern.

  • Refinancing car loans into home loan part 2

    If one has thought about refinancing car loans into home loan, it has proven that he or she has pretty enough smart juice in the brains to look for loophole in our life. This is part 2 of 2. Click here to see part 1 and a successful case study 1. (more…)

  • Refinancing car loans into home loan

    If one has thought about refinancing car loans into home loan, it has proven that he or she has pretty enough smart juice in the brains to look for loophole in our life. Mortgage loan or home loan is always 20 or 30 years or even more, but all kind of car loans are usually less than 10 years even the $1.5 million Bugatti Veyron. Have you thought of why? This article has two part, you can also read part two here. (more…)