Outstanding loan

Need some advise, not too sure on this. My army buddy interested in the forte but still serving an existing loan on his vios. His paper value at deregister(COEnPARF rebate) is about 21K from one motoring. His bank told him to do full loan redeemption for his ride, the amt. is 26K...that mean he will need to top up 5k to settle his current vios loan, tio bo?

He tempted to do overtrade, I told him not to, if possible pay 5k cash and settle his old loan before changing to forte..... if not, just stay with his vios...

Anyone have the similar situation when buying forte?

Your friend could ask the SE for a higher trade-in value. No harm trying. Good luck. If not wait till the break-even point, then change.

wa seh... i don think any SE will hit 5K.. .at most 1-2K max.....
but expect little freebies.... .
its a trade off.....

I think he understand that he will definitely need to top up if want to change to forte. His only concern is whether the calculation is correct, meaning paper rebate at 21k, while to do full claim will need 26k...if his vios taken only with paper value. He will need to fork out 5k cash to the dealer, right?....

nothing wrote:I think he understand that he will definitely need to top up if want to change to forte. His only concern is whether the calculation is correct, meaning paper rebate at 21k, while to do full claim will need 26k...if his vios taken only with paper value. He will need to fork out 5k cash to the dealer, right?....

He forgot his body value,.... probably 1k.....

Go speak with an SE ....4k, can be discussed.... and do you know, you can buy a Forte from PI too.... my close friend who is a PI smacked me because I did not order from him..... PI will make a couple of hundred bucks...

kapitan wrote:

nothing wrote:I think he understand that he will definitely need to top up if want to change to forte. His only concern is whether the calculation is correct, meaning paper rebate at 21k, while to do full claim will need 26k...if his vios taken only with paper value. He will need to fork out 5k cash to the dealer, right?....

He forgot his body value,.... probably 1k.....

Go speak with an SE ....4k, can be discussed....

Thks, will ask him to ask around...but seem like lately most common cars have very little or no trade in value...my friend's 3.5yrs altis on top of paper only 500 more and pple saying T brand can get higher resale value....

PI can bring in forte? that's new to me.....

i jus enquired my nissan sunny..7+years...only 400 on top of my paper value...

leedevil wrote:i jus enquired my nissan sunny..7+years...only 400 on top of my paper value...

not bad liao...7 yrs + still have $400.....

nothing wrote:

kapitan wrote:

nothing wrote:I think he understand that he will definitely need to top up if want to change to forte. His only concern is whether the calculation is correct, meaning paper rebate at 21k, while to do full claim will need 26k...if his vios taken only with paper value. He will need to fork out 5k cash to the dealer, right?....

He forgot his body value,.... probably 1k.....

Go speak with an SE ....4k, can be discussed....

Thks, will ask him to ask around...but seem like lately most common cars have very little or no trade in value...my friend's 3.5yrs altis on top of paper only 500 more and pple saying T brand can get higher resale value....

PI can bring in forte? that's new to me.....

PI don't bring in the Forte, they will order from C&C, they have their arrangements,.... but I do not know who will do the loan, paperwork COE bidding etc..... maybe can try PI.....

nothing wrote:

leedevil wrote:i jus enquired my nissan sunny..7+years...only 400 on top of my paper value...

not bad liao...7 yrs + still have $400.....

Ya loh dats what i tot so also...outside they mostly do one to one..means u nid to buy from them then they will tk ur old car...mine is diff...my frd's frd refer me to an exporter...so i deal with the exporter straight instead of going through the company...but i have to go LTA to deregister myself if not they will charge 1.5% off my paper value...

nothing wrote:Need some advise, not too sure on this. My army buddy interested in the forte but still serving an existing loan on his vios. His paper value at deregister(COEnPARF rebate) is about 21K from one motoring. His bank told him to do full loan redeemption for his ride, the amt. is 26K...that mean he will need to top up 5k to settle his current vios loan, tio bo?

He tempted to do overtrade, I told him not to, if possible pay 5k cash and settle his old loan before changing to forte..... if not, just stay with his vios...

Go to Kia Ubi, you can get an over trade in value of $2000. The waiting time is about 3 months and you may have service your loan for 3 months at about $1500 if each month loan payment is $500. Then you need to top up 5000 - 2000 - 1500 = $1500 for you new ride. Make sure you deregister within the one year period you bought your car. If this information is useful.

I same situation as your friend that time. I asked the C&C to settle all paperwork for me. Traded in my previous ride at paper value den top up the outstanding of almost $11k. Everything I let the company, tied up with C&C, to handle. I only have to write cheque give them.

nothing wrote:

kapitan wrote:

nothing wrote:I think he understand that he will definitely need to top up if want to change to forte. His only concern is whether the calculation is correct, meaning paper rebate at 21k, while to do full claim will need 26k...if his vios taken only with paper value. He will need to fork out 5k cash to the dealer, right?....

He forgot his body value,.... probably 1k.....

Go speak with an SE ....4k, can be discussed....

Thks, will ask him to ask around...but seem like lately most common cars have very little or no trade in value...my friend's 3.5yrs altis on top of paper only 500 more and pple saying T brand can get higher resale value....

PI can bring in forte? that's new to me.....

u sure? Ur fren kena chop carrot liao.
My fren just changed his 4yr 3 mths old Altis to the new G10 Altis.
He got $4k for body value + $27k paper value.
Total get back $31k, outstanding loan was at $21k.
So overall he took back $10k n used it to offset the new car.
Oh yah, the exporter that took in his old car was introduced by the SE from Borneo Motors.

Side track a bit, my FORTE IS COMING SOON!!! WOOHOOHOO!!!
My SE called to say delivery is early May, now is already early May but he havent call me to make 1st instalment n insurance payment leh.

hyunjin wrote:

nothing wrote:

kapitan wrote:

nothing wrote:I think he understand that he will definitely need to top up if want to change to forte. His only concern is whether the calculation is correct, meaning paper rebate at 21k, while to do full claim will need 26k...if his vios taken only with paper value. He will need to fork out 5k cash to the dealer, right?....

He forgot his body value,.... probably 1k.....

Go speak with an SE ....4k, can be discussed....

Thks, will ask him to ask around...but seem like lately most common cars have very little or no trade in value...my friend's 3.5yrs altis on top of paper only 500 more and pple saying T brand can get higher resale value....

PI can bring in forte? that's new to me.....

u sure? Ur fren kena chop carrot liao.
My fren just changed his 4yr 3 mths old Altis to the new G10 Altis.
He got $4k for body value + $27k paper value.
Total get back $31k, outstanding loan was at $21k.
So overall he took back $10k n used it to offset the new car.
Oh yah, the exporter that took in his old car was introduced by the SE from Borneo Motors.

Side track a bit, my FORTE IS COMING SOON!!! WOOHOOHOO!!!
My SE called to say delivery is early May, now is already early May but he havent call me to make 1st instalment n insurance payment leh.

4K?when was that?

hyunjin wrote:

Side track a bit, my FORTE IS COMING SOON!!! WOOHOOHOO!!!
My SE called to say delivery is early May, now is already early May but he havent call me to make 1st instalment n insurance payment leh.

maybe u got outstanding loan like what the topic said lol

wwa can c u yr 2L in action soon.

nothing wrote:

hyunjin wrote:

nothing wrote:

kapitan wrote:

nothing wrote:I think he understand that he will definitely need to top up if want to change to forte. His only concern is whether the calculation is correct, meaning paper rebate at 21k, while to do full claim will need 26k...if his vios taken only with paper value. He will need to fork out 5k cash to the dealer, right?....

He forgot his body value,.... probably 1k.....

Go speak with an SE ....4k, can be discussed....

Thks, will ask him to ask around...but seem like lately most common cars have very little or no trade in value...my friend's 3.5yrs altis on top of paper only 500 more and pple saying T brand can get higher resale value....

PI can bring in forte? that's new to me.....

u sure? Ur fren kena chop carrot liao.
My fren just changed his 4yr 3 mths old Altis to the new G10 Altis.
He got $4k for body value + $27k paper value.
Total get back $31k, outstanding loan was at $21k.
So overall he took back $10k n used it to offset the new car.
Oh yah, the exporter that took in his old car was introduced by the SE from Borneo Motors.

Side track a bit, my FORTE IS COMING SOON!!! WOOHOOHOO!!!
My SE called to say delivery is early May, now is already early May but he havent call me to make 1st instalment n insurance payment leh.

4K?when was that?

3 weeks ago.

tish wrote:

hyunjin wrote:

Side track a bit, my FORTE IS COMING SOON!!! WOOHOOHOO!!!
My SE called to say delivery is early May, now is already early May but he havent call me to make 1st instalment n insurance payment leh.

maybe u got outstanding loan like what the topic said lol

haha for me different case, this is my 1st ride!

newsman wrote:wwa can c u yr 2L in action soon.

mine is 1.6

If you sell to used car dealers, possible body of vios 4k+. My picanto
got 3k for body when I sold it last year. C&C don't give higher
value so don't bother to trade in with them.
Your friend end up just top up 1K or less after selling off his car

yup true !
trade in = base on paper value .
unless urs is a old problematic car .. then juz throw the car to them and do a trade in (: