Personal Money Blog 我的个人财务理财投资路
Sunday, August 18, 2013
Paying cash to buy car still the smartest way, Provided your saving growth is fast enough!
Is has been a while i didn't blog. Quite surprise thousands of people has actually came across this blog site. Recently, i just bought a car about RM 120,000. The decision was made after a long deep research for 2 options. 1st, to withdraw money from my flexi-loan account. For this choice, i will be expecting to lose 4% interest forever! It about RM 400 every month. 2nd option, the cash will remained in my bank, i get a car loan from bank. After calculation by considering loan duration, monthly repayment, total interest, another important factor is that how fast can you save back RM 120,000? If it is shorter than the loan duration you plan to take, for e.g. save 120k within 1 year vs take a loan for 5 years, Of course Pay cash is how you win the bank! Another disadvantage on taking car loan as it will reduce your cash flow. Also, the interest charged by bank is not actually 2-5%, it is about 8%! WIKI for EFFECTIVE INTEREST.
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1 comment:
Hello Everybody,
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius, call/whats-App Contact Number +918929509036 via email:(urgentloan22@gmail.com) Thank you.
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