Need Financial Opinion

[NasiAyam]

Need some financial advice here:

I bought a car some 4 years back. Now I won't be using the car anymore as I am posted overseas for 12 months.

If I sell the car, the cash from the sales is not enough to redeem the loan. The bank say I need to top up about 12K.

My problem now is even if I get rid of the car which I have no use anymore, I still need to pay up 12K immediately.

So, do I sell it and pay 12K straight away or continue paying the installment which is about 1K a month ?

What you guys think ?

 

[tonychat]

How long do you need to service the load till the car is scrap? 6 more years? If that is so sell the car, 6 x 12 x $1000 = $12000 x 6 ( 6 times of $12k)

 

[eeoror88]

Short of cash ??

Bet Singapore Race 2 No 8 today !! All the way and ridden by J Saimee. Put money take money !!

 

[imperialarms]

Short of cash ??

Bet Singapore Race 2 No 8 today !! All the way and ridden by J Saimee. Put money take money !!

so easy? okay i recently went bakrupt, i put all, at most chop head

 

[eeoror88]

Ga Ga Lood ..... saimee ownself standby throw ticket !!

 

[rodent2005]

Hard to say because no info on how much u can get back from selling ur car if u service now & sell later & also after 12 months whether u will be posted back & need the car

 

[madmansg]

you can spray it to look like NTUC cab and rent out to cab drivers.

 

[Neh_Neh_Pok]

Need some financial advice here:

I bought a car some 4 years back. Now I won't be using the car anymore as I am posted overseas for 12 months.

If I sell the car, the cash from the sales is not enough to redeem the loan. The bank say I need to top up about 12K.

My problem now is even if I get rid of the car which I have no use anymore, I still need to pay up 12K immediately.

So, do I sell it and pay 12K straight away or continue paying the installment which is about 1K a month ?

What you guys think ?

Maybe you would want to so-called rent or loan to any of your friends for 12mth first and see how later on when you come back

 

[0939]

Are you one of them who bought the car at 100 per cent financing.

 

[chinkangkor]

Need some financial advice here:

I bought a car some 4 years back. Now I won't be using the car anymore as I am posted overseas for 12 months.

If I sell the car, the cash from the sales is not enough to redeem the loan. The bank say I need to top up about 12K.

My problem now is even if I get rid of the car which I have no use anymore, I still need to pay up 12K immediately.

So, do I sell it and pay 12K straight away or continue paying the installment which is about 1K a month ?

What you guys think ?

How much car loan is left and how much you bought for the car?

 

[ahbengsong]

Its all a matter of which is cheaper... selling the car or continue to pay the car loan... provide more details before bros here can give proper advice...

 

[kuntakinte]

I think more than that.....

Possibly, it is a 10 years loan. Sinkies are very happy when the government relax the rule to allow 10 years loan for car and maximum loans. Guess what ?? To screw these sinkies through and through, the gahment gives rebate to CNG car and not building or encourage more CNG stations operators. What's next ??

All moronic sinkies yearning for cars jumped onto it !! Now, majority of these owners are screwed and screwed bad.......

But, in 2011, they will still vote for PAP !!! Yes, moronic sinkies, we need you morons to subsidize people like us.

Are you one of them who bought the car at 100 per cent financing.

 

[silverfox@]

Need some financial advice here:

I bought a car some 4 years back. Now I won't be using the car anymore as I am posted overseas for 12 months.

If I sell the car, the cash from the sales is not enough to redeem the loan. The bank say I need to top up about 12K.

My problem now is even if I get rid of the car which I have no use anymore, I still need to pay up 12K immediately.

So, do I sell it and pay 12K straight away or continue paying the installment which is about 1K a month ?

What you guys think ?

If I am you, I wouldn't sell the car right away as your posting overseas is only 12 months and not forever.

Sell now or sell later, you still have to pay $12K. The only difference is insurance, road tax and carpark. Or what you can do is to let your family drive your car for you when you are away.

BTW, what car you driving that you need to service 1K a month?:o