1st month installment payment

If I remembered correctly, heard my SE saying something like Ubi CnC don't collect the 1st mth installment, the bank will send the payment request to us....so far for those that settle the final payment at Ubi, can share...thks

I collect my forte on 19th April, first 1mth payment on 21st May through GIRO.

If ur giro haven't approve by due date, juz send a cheque.

Mine through Giro.... Deduct every 1st day of the month.... So sort of paid my 2nd installment liao.... First one was paid when confirm the car..... But mine is LengKee lah....

luvxiaobeng wrote:Mine through Giro.... Deduct every 1st day of the month.... So sort of paid my 2nd installment liao.... First one was paid when confirm the car..... But mine is LengKee lah....

Same for me , paid 1st mth in advance when confirm to purchase the car, then follow by 2nd installment through Giro.

Wonder why Ubi do not take the first installment? My previous ride also pay 1st installment togther with insurance and balance downpayment..next month followed by Giro....

They let u keep the money for another month good mah.

Fortec wrote:They let u keep the money for another month good mah.

haha..I rather they do it one shot.....so on the payment day, they will ask u to fill up the Giro form too?

yeah, prolly already filled up by SE, juz need to sign. It's probably the bank arrangement with UBI side. More convienient imo.

so if may bank or dbs loan what will happen if u got insufficient funds in the deduction date?

SE said only DBS Loan take 1st payment after ONE MOON.
Col Ride on 24 Apr n received via post doc with advise that 1st payment due 28 May. But paid up today as i went down to POSB to arrange Giro. 2nd installment due 28 Jun

tish wrote:so if may bank or dbs loan what will happen if u got insufficient funds in the deduction date?

Hmm maybe a small giro penalty fee if deduction failed due to insufficient funds?

so the deduction date is not a standard date? it all depends when u apply? So when do u apply to get a specific date like 10th of the month ?

wow that's a deep question, I think u have to ask ur SE and the bank to find out.

chey , tot u know hehe

but y must be on 10th of the month???

Fortec wrote:but y must be on 10th of the month???

his paycheck on the 9th of the month

tish wrote:so the deduction date is not a standard date? it all depends when u apply? So when do u apply to get a specific date like 10th of the month ?

Here is how it goes if you don't pay on time, Let say ur deduction date is on the 1st ya(this date depends on when you collect your car I think coz mine is deducted every 1st day of the month when I collect my car on the 30th while if you read previous post I think Andi was sayin his deduction is on mid of the month also like 1 - 2 days of the next month after he collected his car) You will get a letter plus interest.... if you still don't pay till the next deduction ( which means you owe them 2 months lah) they will tow away your car..... to take back your car after they tow, you have to pay :-

1. the 2 month installment + interest you owe
2. THe tow fee which is I think 160 plus
3. the rental fee (this is to pay for the play where they store your car while waiting for you to come n collect) S$15 per day
4. Other adminstrative charges

So guys please pay on time (I heard it from one of my friend who got his honda jazz tow away)

pay day mah....

luvxiaobeng wrote:

tish wrote:so the deduction date is not a standard date? it all depends when u apply? So when do u apply to get a specific date like 10th of the month ?

Here is how it goes if you don't pay on time, Let say ur deduction date is on the 1st ya(this date depends on when you collect your car I think coz mine is deducted every 1st day of the month when I collect my car on the 30th while if you read previous post I think Andi was sayin his deduction is on mid of the month also like 1 - 2 days of the next month after he collected his car) You will get a letter plus interest.... if you still don't pay till the next deduction ( which means you owe them 2 months lah) they will tow away your car..... to take back your car after they tow, you have to pay :-

1. the 2 month installment + interest you owe
2. THe tow fee which is I think 160 plus
3. the rental fee (this is to pay for the play where they store your car while waiting for you to come n collect) S$15 per day
4. Other adminstrative charges

So guys please pay on time (I heard it from one of my friend who got his honda jazz tow away)

ohh so basically the deduction date is 1-2 days after u collect ur car..

anyway what is the interest like for late payment? and if i hid my car, how they know where to tow hehe

They will know, the most u can hide for 1 week..usually the tow truck waiting somewhere nearby...the scouts will be on bikes doing rounding, once spotted, less than 15mins, tow truck appear....saw someone ride in MSCP kana before...heard car alarm went off in the middle of the night, look out of the window, saw a tow truck trying his means to pull the car out, the way they treat the car, i see liao also heart pain...

so scare!! its better to pay up since u hv made a commitment to purchase a car.

But some pple actually spend beyond their means....in fact there are many around...took 0% downpayment, 10 yrs loan...like one of my neighbour, recently kana retrenched, working as a technician but driving a 1.8L Civic ..met him in the lift,told me he need to borrow from relatives to pay monthly installments, looked lost...remembered few yrs back when he saw me driving a kimchi getz, laughed and said I so big size but drive such a small car somemore korean car....I just laughed it off at least I am living within my means and very comfortable too kind of sad seeing him in this state...

nothing wrote:But some pple actually spend beyond their means....in fact there are many around...took 0% downpayment, 10 yrs loan...like one of my neighbour, recently kana retrenched, working as a technician but driving a 1.8L Civic ..met him in the lift,told me he need to borrow from relatives to pay monthly installments, looked lost...remembered few yrs back when he saw me driving a kimchi getz, laughed and said I so big size but drive such a small car somemore korean car....I just laughed it off at least I am living within my means and very comfortable too kind of sad seeing him in this state...

This is call Effective planning...... cal ya budget .... work backwards to see how much u comfy with...
Many of my frens (mostly regulars) also spend like Ah Sia Kias..... end up a bag of credit card bills.... ($10~30k & < debts) WTF....

tats why i contemplating such a long time to get a car... (btw i not regular.. I large...hurhrhur)....

Ya, I deal alot with Land/Sea/Air services, whenever I go for meetings, surprised to see those cars driven by 3rd Sgt and below....somehow or rather higher ranking regulars drive modest cars but not those young and dangerous.....wonder how they can tahan...My friend who is a Navy officer told me sometimes, can see his men's cars park for one or 2 wks at the carpark bcos he suspect they don't even have enough to pump petrol, let alone buying season parking....

haha, my base parkd their vehicle and suspend their season parking when ever they go overseas for months

its a free parking lot at base