DECLINED... says Maybank

chum lah like that, one shot all collect car and can have group photo on same day? with all the plastic everything still intact!

NiVleK wrote:Now I really dun understand...you said you have huge cash and then you getting full loan???

So what is what?

Huge cash for POISON spending not for car. This was saved by me for several months. Anyways, since a lot of people here have been very ENCOURAGING towards me, I would probably state that I have roughly set aside a budget. And after my wedding in Jan 2010, and also my wife working office hours, I will start piling up Overtime so I would not go to an empty house. With my OT, I will be taking back 2.7K to 3.2K per month.

Last note, feels like some people keep telling me not to get a car. But to those people, no hard feelings yah...

cos car is a liability, and furthermore getting married too, but then, its your life, your cash, sorry quite anal cos have seen many classic cases. most importantly, be happy!

devilsheaven wrote:

NiVleK wrote:Now I really dun understand...you said you have huge cash and then you getting full loan???

So what is what?

Huge cash for POISON spending not for car. This was saved by me for several months. Anyways, since a lot of people here have been very ENCOURAGING towards me, I would probably state that I have roughly set aside a budget. And after my wedding in Jan 2010, and also my wife working office hours, I will start piling up Overtime so I would not go to an empty house. With my OT, I will be taking back 2.7K to 3.2K per month.

Last note, feels like some people keep telling me not to get a car. But to those people, no hard feelings yah...

No hard feelings bro.

It is just a word of advice. I have really seen too many friends coming into the "you got car I also want to have one" cycle or "my car is bigger than yours", and they fall into debts, looking for a way out.

But seems like you did some planning, so good luck bro.

my loan haven't approve yet as well... been 2 weeks liao... anyway, i get loan just for the discount, so it is "minimum"... my mum wants to help me pay in full first then I pay her so as to save on the interest...

Corgel wrote:my loan haven't approve yet as well... been 2 weeks liao... anyway, i get loan just for the discount, so it is "minimum"... my mum wants to help me pay in full first then I pay her so as to save on the interest...

Good la! Then u no worry la.....banks are busy with other fat loans with long periods of installments.

devilsheaven wrote:

NiVleK wrote:Now I really dun understand...you said you have huge cash and then you getting full loan???

So what is what?

Huge cash for POISON spending not for car. This was saved by me for several months. Anyways, since a lot of people here have been very ENCOURAGING towards me, I would probably state that I have roughly set aside a budget. And after my wedding in Jan 2010, and also my wife working office hours, I will start piling up Overtime so I would not go to an empty house. With my OT, I will be taking back 2.7K to 3.2K per month.

Last note, feels like some people keep telling me not to get a car. But to those people, no hard feelings yah...

Take of your own health...do not OT too much b'cos of the car loan. If you need to OT to support your car loan, I think you better drop off the idea of having a car.

IMHO, Healthy is most important so take care.

jameshong wrote:

devilsheaven wrote:

NiVleK wrote:Now I really dun understand...you said you have huge cash and then you getting full loan???

So what is what?

Huge cash for POISON spending not for car. This was saved by me for several months. Anyways, since a lot of people here have been very ENCOURAGING towards me, I would probably state that I have roughly set aside a budget. And after my wedding in Jan 2010, and also my wife working office hours, I will start piling up Overtime so I would not go to an empty house. With my OT, I will be taking back 2.7K to 3.2K per month.

Last note, feels like some people keep telling me not to get a car. But to those people, no hard feelings yah...

Take of your own health...do not OT too much b'cos of the car loan. If you need to OT to support your car loan, I think you better drop off the idea of having a car.

IMHO, Healthy is most important so take care.

O don't worry. When i meant OT was only on my 2nd morning shift which is twice to three times a month. Coz my morning shift ends at 1500 and my wife usually ends at 1900. So i OT lor.

Bro, not going to give you further advise since all the bros here has more or less cover everything tha I want to said. Furthermore, you seems to be someone who can plan for your self.

Anyway, good luck to you & hopefully your SE "Santa" have good news for you soon

it may be a blessing in disguise that yr loan was rejected...I know it's difficult, try tahan and stick to public transport for awhile as you will getting marry soon, housing coming, reno, wedding dinner, etc....that will drain off yr bank acct. easily....take home 2.3k per month, IMHO is pretty tight, the ride monthly maintenance easily hit more than 1k with your travelling dist. from Yew Tew to Changi....

nothing wrote:it may be a blessing in disguise that yr loan was rejected...I know it's difficult, try tahan and stick to public transport for awhile as you will getting marry soon, housing coming, reno, wedding dinner, etc....that will drain off yr bank acct. easily....take home 2.3k per month, IMHO is pretty tight, the ride monthly maintenance easily hit more than 1k with your travelling dist. from Yew Tew to Changi....

My wedding has been paid... 20K. Housing will be in 6 years time coz BTO. I take back 2.3K but the car is combines income with my wife 6K. I have been taking train for the past 6 years of my working life. And don't worry about the advices, keep em coming. Good for anyone here. And regarding the TAHAN thing, TAHAN long liao. I already discussed with my wife, if can't get loan then bopian. We will be one of those high middle-income couple who takes the train. Its a bit letdown coz everyone in my family who earn a combined income of 3K or less has cars. Then again, bopian, my life has been filled with dreams turning to fantasy anyways....

maybank approve my loan within a day lei(no relation withh them).... but bro devilshaven, juz a word of advice(u can chose not to bother), even with both yr combine income of $6k, it's still tight... trust me... & wen u have kids, it's even worse... Nobody in life plans to fail but they fail to plan...

scalar wrote:maybank approve my loan within a day lei(no relation withh them).... but bro devilshaven, juz a word of advice(u can chose not to bother), even with both yr combine income of $6k, it's still tight... trust me... & wen u have kids, it's even worse... Nobody in life plans to fail but they fail to plan...

true. no offense to anyone but 6k household income isn't all that much nowadays and i certainly wouldn't classify it as 'high middle income'. for the bros who've been there and done that, they know that there are many more heavy expenses to take care of once family life comes. and owing a koup wll become a burden instead of joy. then what's the point of driving a 'gaya' car wif no money in the pocket? sell the koup? that'll be even worse if one takes a 10-yr loan. in the end, it's one's own decision but my advise to many of the bros here is to be careful of going down this very slippery slope.

think guys should ask redkoup for mu le.....

scalar wrote:think guys should ask redkoup for mu le.....

dun la. i'm a shy old ah pek...... keke

not old le... u r d wise 1.....

Agreed 6K is not a lot nowaday....but it really depend on what kind of lifestyle you want to have. Personally I know 1 guy (single income family with 3 kids) earning only gross 2.5K got a forte with 10yr loan.

Of course, he and his family member need to forgo a lot of other luxury as well but they are happy with what they have.

ok..... additional expenses when u have kids and growing old....

hdb expenses = 1000/month or condo expenses = 2000 / month
retirement/other insurance = 2000
maid = 1000
uni fund per kid = 200
parents allowance per family = 500
savings fund = 500

this is just an estimation. u need minimum 5k for these alone.....
no living day to day expenses yet...

scalar wrote:not old le... u r d wise 1.....

so was yoda. and look how old he was....

devilsheaven wrote:

nothing wrote:it may be a blessing in disguise that yr loan was rejected...I know it's difficult, try tahan and stick to public transport for awhile as you will getting marry soon, housing coming, reno, wedding dinner, etc....that will drain off yr bank acct. easily....take home 2.3k per month, IMHO is pretty tight, the ride monthly maintenance easily hit more than 1k with your travelling dist. from Yew Tew to Changi....

My wedding has been paid... 20K. Housing will be in 6 years time coz BTO. I take back 2.3K but the car is combines income with my wife 6K. I have been taking train for the past 6 years of my working life. And don't worry about the advices, keep em coming. Good for anyone here. And regarding the TAHAN thing, TAHAN long liao. I already discussed with my wife, if can't get loan then bopian. We will be one of those high middle-income couple who takes the train. Its a bit letdown coz everyone in my family who earn a combined income of 3K or less has cars. Then again, bopian, my life has been filled with dreams turning to fantasy anyways....

Bro, I've been reading this thread and notice something. Seems you are a very fatalistic person, always saying "resigning to fate" and "dreams turning to fantasy". Come on bro, cheer up and don't be beaten down so easily. Plan your life and how you want to live it, nobody controls your life but yourself. In any case, I was working for 10yrs and married for 4yrs before I got my car. My combine income with my wife is definitely much higher than yours but we still need to plan our expenses carefully. FYI, my 1st car was an OPC as we didn't really need the car other than ferry our newborn around the grandparents and shopping. Basically we bought the car only because of our 1st born. Driving to work is shiok but you need to plan for petrol, car park, ERP, CBD etc. In the end, we decided it is cheaper to take MRT to work. This Forte is our 2nd car and it is normal plate, but we still get Park n Ride, due to the abovementioned reason. End of the day, my goal is to live comfortably and within my means. Don't need to get a car then scrimp and save on everything. Enjoy a movie or take your wife to a nice dinner once in a while, and I believe you will both enjoy much more than driving around eating bread. I don't mean to offense or look down, but just sharing my own experience.

Nah no worries. I work at ICA Changi Airport... there are nastier things been said. Having something like a KOUP or any car keeps me sane at work. Working there is like having total concentration and your self-respect outta window. Those not from ICA, outsiders will never know the amount of disrespect and lack of self-pity for those working the counters.
Anyways back to topic, I guess as long I don't have a minimum salary of 7K then owning a car is a NO NO... ok got it.

Nah kidding aside... thanks for all the concern. Keeps things in perspective.

Have you tried GE money? Dont think they are that strict....

read thru' all the posts in this thread...
honestly i though take home pay 2.3k to 3.2k monthly is quite decent, and quite decent enough to own a Korean car...
now i feel a bit deflated by the fact actually so many bros here earn so much more than that...

redkoup wrote:

scalar wrote:think guys should ask redkoup for mu le.....

dun la. i'm a shy old ah pek...... keke

dun care lah.. u must come to next mu.. lol...

GnoMisH wrote:read thru' all the posts in this thread...
honestly i though take home pay 2.3k to 3.2k monthly is quite decent, and quite decent enough to own a Korean car...
now i feel a bit deflated by the fact actually so many bros here earn so much more than that...

lol... dun be, ur time will come...

why not consider a smaller car?
i started with picanto 3 yrs after working life but diff is i dun need to drive to work so got opc instead... i think many ppl here r concern abt the liabilities u getting into.. there are many hidden n unexpected cost for owning a car..for e.g. a fren of mine had fork out $10k from his own pocket to repair his car n waited more than a year for insurance to settle his claim.. this is just one e.g. of whether u r well prepare to be a driver.. of cos his may be a extreme/ rare case but it happens lor..
u may like to consider picanto.. it may not be flashy car like koup, but it is a basic car for travel needs, affordable n gd fuel consumption.. which i reckon these will be more impt for u.. frankly speaking the koup is not a pratical car esp if u have kids/ old fork

Yeap, totally agreed with bro corgel. I believed majority of the bros here use to earn 2K before moving up ladder.

earning more doesn't means cannot own a korea car would be due to various reason (look, value for $$ & etc). It's a personal choice.

Just need to plan well & at the end of the days, live happy & dun regret since there is no cure for it.

scorpey wrote:why not consider a smaller car?
i started with picanto 3 yrs after working life but diff is i dun need to drive to work so got opc instead... i think many ppl here r concern abt the liabilities u getting into.. there are many hidden n unexpected cost for owning a car..for e.g. a fren of mine had fork out $10k from his own pocket to repair his car n waited more than a year for insurance to settle his claim.. this is just one e.g. of whether u r well prepare to be a driver.. of cos his may be a extreme/ rare case but it happens lor..
u may like to consider picanto.. it may not be flashy car like koup, but it is a basic car for travel needs, affordable n gd fuel consumption.. which i reckon these will be more impt for u.. frankly speaking the koup is not a pratical car esp if u have kids/ old fork

That's a good suggestion I tot the new picanto look ways better than previous model

jeff2510 wrote:

scorpey wrote:why not consider a smaller car?
i started with picanto 3 yrs after working life but diff is i dun need to drive to work so got opc instead... i think many ppl here r concern abt the liabilities u getting into.. there are many hidden n unexpected cost for owning a car..for e.g. a fren of mine had fork out $10k from his own pocket to repair his car n waited more than a year for insurance to settle his claim.. this is just one e.g. of whether u r well prepare to be a driver.. of cos his may be a extreme/ rare case but it happens lor..
u may like to consider picanto.. it may not be flashy car like koup, but it is a basic car for travel needs, affordable n gd fuel consumption.. which i reckon these will be more impt for u.. frankly speaking the koup is not a pratical car esp if u have kids/ old fork

That's a good suggestion I tot the new picanto look ways better than previous model

Haha..yah, its a cute car lor.. i missed driving it sometimes cos mine was manual.. after upgrading to a 2L forte, i realised how well the picanto has prepared me to own the forte in terms of control, driving skills/ experience, financial expenses of car ownership etc.
Totally no regrets gettting the picanto as my first car to start with.. =)

After reading thru this forum, I have come up with a simple equation to the logic of owning ANYTHING in SG.

2K = MRT + TAXI
2.5K = MRT + TAXI + Luxury TAXI
3K = MRT + TAXI + Luxury TAXI + Personal Bicycle
3.5K = MRT + TAXI + Luxury TAXI + Personal Bicycle + CHINA/Small Car



Anyways, by tmrw I will know if owning a car will be my path. If not, the above will be my target.... hihi...

PS: will post my wedding pics by end Jan 2010...

haha.. not true lah.. its ur money so u decide how to spend it.. impt thing is the car gotto run(work) for u... not the other way round.. =)
cheers & congrats to u! yeah.. show us ur wedding photos!

scorpey wrote:haha.. not true lah.. its ur money so u decide how to spend it.. impt thing is the car gotto run(work) for u... not the other way round.. =)
cheers & congrats to u! yeah.. show us ur wedding photos!

Haha... my equation is meant as a joke. Even if i get my approval, savings is key. Anyways, thanks yah and will post the preparation of the whole wedding-under-void-deck-setup pretty soon. Also, good that since I started this thread, its getting a lot of hits. Keep bros and sis here wanting or already own a car in perspective. Also helps keep forum members here the post counts...

okok... time for ur 2nd pm shift

ooosh wrote:Have you tried GE money? Dont think they are that strict....

no wonder GE got so many repo cars on Sgcarmart.

how u know from GE?

kysoong wrote:okok... time for ur 2nd pm shift

Stop stalking me leh...

lol

relax leh.... if it is meant to be urs.... it will be urs...

Hope you'll get your approval soon! sure have a way one
cheers!

kysoong wrote: lol

Be warned. Stalker alert!!!

Yeah that day when I go book my car I saw the new picanto. Even the interiror looks nicer than the old one. But even if not approve my loan I'm already prepared for it.

Dun worry... but please plan for your future lah..

It is always a joy to see your back accounts grow...I choose an OPC coz my usuage pattern is weekends and I reach home after 8pm on weekdays.

No point parking it at office and incurring extra CBD transit and parking rates.. hahaha

Afterall, office allows me to claim taxi for my trips so kekeke

It's your choice but do plan your finances.

devilsheaven wrote:

kysoong wrote: lol

Be warned. Stalker alert!!!

Yeah that day when I go book my car I saw the new picanto. Even the interiror looks nicer than the old one. But even if not approve my loan I'm already prepared for it.

i am moving down from a forte SX to the picanto. glad that the new picanto is finally out.

like you, my budget is quite tight. i can still afford the forte SX but don't want to save here and save there just to keep a car, it is pointless. so it is better to start with a basic car first and then move up to better ones when you are settled down. trust me, nothing beats owning a car that you dislike but able to afford it 100% without worrying about your financial status.

As for me, OPC wouldn't make sense as I work shift. Anyways, my stance on owning a car is go normal plate or don't go at all. And yes, planning finances will be a challenge in the future. Me and my wife have started already for a year to simulate income as in marrigae without a car. That was why we decided on getting one. But even so, I don't really bothered anymore. Probably wait till the KIA Soul comes here, that was my target since it was announced in the states.

The Blue Cruiser wrote:

devilsheaven wrote:

kysoong wrote: lol

Be warned. Stalker alert!!!

Yeah that day when I go book my car I saw the new picanto. Even the interiror looks nicer than the old one. But even if not approve my loan I'm already prepared for it.

i am moving down from a forte SX to the picanto. glad that the new picanto is finally out.

like you, my budget is quite tight. i can still afford the forte SX but don't want to save here and save there just to keep a car, it is pointless. so it is better to start with a basic car first and then move up to better ones when you are settled down. trust me, nothing beats owning a car that you dislike but able to afford it 100% without worrying about your financial status.

Did u get full loan on that? What bank?

You'd be surprised to know that many here settled for the KIA Forte out of very practical reasons; price-to-feature/performance ratio, bang-for-the-buck or even plain pragmatism.

Off hand, I'd already single out Bro Kapitan. And I'm sure there are many more like him around. At work, I know of a military scholar(COL) driving a 1.6Sx(A) and another Scheme B officer driving the previous model Mitsubishi Lancer GLX. Yet another, a seconded PSC scholar in military service(BG!) who drives a Toyota Corolla! And I haven't even mentioned the group(here and otherwise) who can easily afford better and more expensive cars but settle for OPC Fortes.

Sure we love our cars, we zh'ng and mod them to the extreme sometimes but keep in mind that they are, afterall, financial liabilities. The moo-lah we put in ALWAYS comes to nothing, no (financial)returns.

Sure, the pressure to keep up with the Jones is always there. That one-up man-ship and pissing contest which most Singaporeans are participating in everyday.

For me, between my wife and I, we put aside almost $3K a month for retirement and our kids' future. And if it weren't for her, it would have been much less if I had ended up with the VW Passat which I had initially wanted to get. Believe me, such 'sacrifices' are painful sometimes not only for me but for our kids as well; though we don't skimp on their enrichment classes like ballet, speech and drama and a quality education. Basically, opportunities for a good and proper head-start we never had.

And for what it's worth, I'm also an inadvertent participant in this 'pissing contest' but only for the final leg called "Retirement". I intend to do my best in that and hope to make it my wife's and my pet event.

BR,
w a y

GnoMisH wrote:read thru' all the posts in this thread...
honestly i though take home pay 2.3k to 3.2k monthly is quite decent, and quite decent enough to own a Korean car...
now i feel a bit deflated by the fact actually so many bros here earn so much more than that...

at d end of d day, as long as u feel comfortable, dun need to bother war others say.... but juz plan well....

redkoup wrote:

scalar wrote:maybank approve my loan within a day lei(no relation withh them).... but bro devilshaven, juz a word of advice(u can chose not to bother), even with both yr combine income of $6k, it's still tight... trust me... & wen u have kids, it's even worse... Nobody in life plans to fail but they fail to plan...

true. no offense to anyone but 6k household income isn't all that much nowadays and i certainly wouldn't classify it as 'high middle income'. for the bros who've been there and done that, they know that there are many more heavy expenses to take care of once family life comes. and owing a koup wll become a burden instead of joy. then what's the point of driving a 'gaya' car wif no money in the pocket? sell the koup? that'll be even worse if one takes a 10-yr loan. in the end, it's one's own decision but my advise to many of the bros here is to be careful of going down this very slippery slope.

Completely agree with this.

No offence. A 6K combined income is just middle class.

6K sgd is not alot. but no worries lah. he said he earning 2.3K mah. If not enuff, draw from his wife-to-be lor. he said she earning abt 3.2K. Anyway softer rice easier to digest mah. Free $$$ to use. So shiok sia.

PS: 2.3K wanna buy a normal plate Koup. Plus the distance from his home and workplace. ERP and parkings charges some more. I am wondering his GF is as crazy as him or not. He should be happy the bank rejected his loan application. Unless he also not paying a "minimal" fees to his parents. Maybe needs to eat "softer rice" so he can get the koup ba. Must be damn delicious. LOL!!!

Pls 4give me if i am too frank. Anyway TS welcome any comments. Be it good or bad. If your wife-to-be is my sister, I cfm "kok" your head and DEMAND u to wake up ur fuking ideas. Buy Picanto ba. ALso a KIA mah.

waypoint wrote:You'd be surprised to know that many here settled for the KIA Forte out of very practical reasons; price-to-feature/performance ratio, bang-for-the-buck or even plain pragmatism.

Off hand, I'd already single out Bro Kapitan. And I'm sure there are many more like him around. At work, I know of a military scholar(COL) driving a 1.6Sx(A) and another Scheme B officer driving the previous model Mitsubishi Lancer GLX. Yet another, a seconded PSC scholar in military service(BG!) who drives a Toyota Corolla! And I haven't even mentioned the group(here and otherwise) who can easily afford better and more expensive cars but settle for OPC Fortes.

Sure we love our cars, we zh'ng and mod them to the extreme sometimes but keep in mind that they are, afterall, financial liabilities. The moo-lah we put in ALWAYS comes to nothing, no (financial)returns.

Sure, the pressure to keep up with the Jones is always there. That one-up man-ship and pissing contest which most Singaporeans are participating in everyday.

For me, between my wife and I, we put aside almost $3K a month for retirement and our kids' future. And if it weren't for her, it would have been much less if I had ended up with the VW Passat which I had initially wanted to get. Believe me, such 'sacrifices' are painful sometimes not only for me but for our kids as well; though we don't skimp on their enrichment classes like ballet, speech and drama and a quality education. Basically, opportunities for a good and proper head-start we never had.

And for what it's worth, I'm also an inadvertent participant in this 'pissing contest' but only for the final leg called "Retirement". I intend to do my best in that and hope to make it my wife's and my pet event.

BR,
w a y

GnoMisH wrote:read thru' all the posts in this thread...
honestly i though take home pay 2.3k to 3.2k monthly is quite decent, and quite decent enough to own a Korean car...
now i feel a bit deflated by the fact actually so many bros here earn so much more than that...

Well written by Bro Waypoint. TS, proper planning is needed when u get a ride. When u come to this forum and "voiced" out ur loan applicatn is rejected, u should be happy abt it u kena rejected . If 6K is considered Higher Middle income grp, U must be day dreaming liao. If u are earning 6K by urself and add another 3.2K from ur wife, then u are. How do u survive if u are going to set aside 1K for ur ride every mth? 1.2K=40 sgd per day. No need give parents? No need makan? No need entertainment? No utilities bill to pay? not using handphone? Lol. Wake up ur fuking idea lah.

LOL @ EvoForte.

If you ask me around 10K is then reaching high middle income....