How much is your downpayment to buy your new vehicle ?

[BoQ77]

Could we share how much we pay for our means of transport in our country?
Whether you pay total by cash at once ; or by loan ; or leasing ?

If possible please provide:
- Car price / Down payment / Monthly paid / Interest rate ...

Hope we could get the brief view to countries around.

 

[vtnsx]

Could we share how much we pay for our means of transport in our country?
Whether you pay total by cash at once ; or by loan ; or leasing ?

If possible please provide:
- Car price / Down payment / Monthly paid / Interest rate ...

Hope we could get the brief view to countries around.

It depends. I had a truck 2014 Tacoma TRD Sport paid $40,000 for it. $800/month

 

[Gijoe]

Two of you should get a room and talk about this, just between the two of you please. Here we are in PDF forum not JAV video studio. So you two please do it in close door room. Thank you

 

[alaungphaya]

Never buy a car on credit.

 

[BoQ77]

Never buy a car on credit.

that means your banking system or political stability isn't good enough
or simply you are so rich.

before, Vietnamese all pay cash in advance for 100% of car price. Sometimes several month in advance.
and wait for their car.

nowaday, we still pay by cash for motorbike.

but loan for car purchase now become more popular.

It depends. I had a truck 2014 Tacoma TRD Sport paid $40,000 for it. $800/month

40,000 is car price ?
How much to paydown when you decide to buy the car ?

 

[vtnsx]

Two of you should get a room and talk about this, just between the two of you please. Here we are in PDF forum not JAV video studio. So you two please do it in close door room. Thank you

None of your business. Can't handle it the conversation here? Then get lost. You're underage.

that means your banking system or political stability isn't good enough
or simply you are so rich.

before, Vietnamese all pay cash in advance for 100% of car price. Sometimes several month in advance.
and wait for their car.

nowaday, we still pay by cash for motorbike.

but loan for car purchase now become more popular.



40,000 is car price ?
How much to paydown when you decide to buy the car ?

0 down

 

[BoQ77]

None of your business. Can't handle it the conversation here? Then get lost. You're underage.


0 down

So you just use it and pay 800$ every month
is it popular in Canada to use a loan to buy a car? how it compare to lease a car ?

is it a double cab ?

Back to Vietnam, average guy would pay 20% - 100% of car price to get it. Normally car prices vary from 14,000 - 50,000 USD.
.
Scooter price is about $1,500 to $5,500
for buying scooter ( which is more popular in Vietnam ), everyone almost paydown 100% of its prices

 

[vtnsx]

So you just use it and pay 800$ every month
is it popular in Canada to use a loan to buy a car? how it compare to lease a car ?

is it a double cab ?

haha yes it's double cab. I'm surprised you know about truck. Lease a car is terrible but good if you own a business. Most people can't buy a car with cash so they finance it. Payment is higher than paying it in cash because of interest.

Is it easy to borrow money in Vietnam?

 

[C130]

how much you pay for a down payment probably goes by your credit, but I would't be surprised if less than $5K here in the states.

closest dealer to me is Volkswagen think I remember seeing something like $3k down and monthly payment $200 or $300

 

[BoQ77]

haha yes it's double cab. I'm surprised you know about truck. Lease a car is terrible but good if you own a business. Most people can't buy a car with cash so they finance it. Payment is higher than paying it in cash because of interest.

Is it easy to borrow money in Vietnam?

Hope you read my post after the ban period ended.
I'm providing car parts to GM Thailand - Rayong factory, in the country use many of pickup truck,
my sister also buy Toyota Tacoma back to 2010-2011 in US.

Most people here in Vietnam pay by cash average $2,000-2,500 to get their scooters for easy navigating in crowded streets, some paid over $5,500 for Piaggio or Honda SH scooters.

For car purchase, many pay 100% by cash ( $15,000 - 50,000+ )
If borrow money, average people had 30-50% down payment ($ 5,000-25,000 ) by cash, and the remain is a loan.

 

[+4vsgorillas-Apebane]

that means your banking system or political stability isn't good enough
or simply you are so rich.

before, Vietnamese all pay cash in advance for 100% of car price. Sometimes several month in advance.
and wait for their car.

nowaday, we still pay by cash for motorbike.

but loan for car purchase now become more popular.



40,000 is car price ?
How much to paydown when you decide to buy the car ?

Buying on credit is wasteful. My sisters Toyota van cost 40000 but if counting interest it was much more.

Car cost plus rego plus insurance plus fuel plus maintenance...

A bike is much better and healthier but not feasible for all cities.

 

[alaungphaya]

that means your banking system or political stability isn't good enough
or simply you are so rich.

before, Vietnamese all pay cash in advance for 100% of car price. Sometimes several month in advance.
and wait for their car.

nowaday, we still pay by cash for motorbike.

but loan for car purchase now become more popular.



40,000 is car price ?
How much to paydown when you decide to buy the car ?

I mean everywhere. You're essentially going into debt and paying a premium on the sticker price for a depreciating asset. It's a bad deal wherever you are. If you can afford a new car outright then go for it but otherwise you should buy second hand or lease.

 

[BoQ77]

I mean everywhere. You're essentially going into debt and paying a premium on the sticker price for a depreciating asset. It's a bad deal wherever you are. If you can afford a new car outright then go for it but otherwise you should buy second hand or lease.

That means the interest rate is high in your place ?
I mean a loan to buy a car, isn't buy it by credit card but at a lower interest rate like 3-8% / year. LOL

It's very popular, indeed, to get a car that way, in US/Canada, even Thailand, Vietnam ... for example.

 

[retaxis]

I mean everywhere. You're essentially going into debt and paying a premium on the sticker price for a depreciating asset. It's a bad deal wherever you are. If you can afford a new car outright then go for it but otherwise you should buy second hand or lease.

It depends completely on the government and the way they tax the car.

I could have bought my 22k Toyota outright without any issues but paying off a "loan" offsets the amount of total income tax I have to pay here which means my overall tax is reduced to pay off a 'loan'. This works the same way with buying a house etc (which I am also paying off 50cash/50loan). You just have to find a balance on what will work for you, your finances and the way the government/taxation department works.

 

[alaungphaya]

It depends completely on the government and the way they tax the car.

I could have bought my 22k Toyota outright without any issues but paying off a "loan" offsets the amount of total income tax I have to pay here which means my overall tax is reduced to pay off a 'loan'. This works the same way with buying a house etc (which I am also paying off 50cash/50loan). You just have to find a balance on what will work for you, your finances and the way the government/taxation department works.

That's true. It does depend on the tax system. It also depends on the used car market in your country as prices hold up much better in some countries rather than others. But either way, leasing or second hand is a better option. A car is a terrible asset compared to a house or land whatever country you're in because it will go down in value whatever the circumstance. If you really want a new car then go for it but it's just not a particularly wise purchase.

That means the interest rate is high in your place ?
I mean a loan to buy a car, isn't buy it by credit card but at a lower interest rate like 3-8% / year. LOL

It's very popular, indeed, to get a car that way, in US/Canada, even Thailand, Vietnam ... for example.

I know it's very popular. It's just not partuicularly wise. That's why the finance arms of GM, Ford, Chrysler etc. earn massive profits. I mean, if you really place a value on driving a brand new car then it's fine but I never understood it. And I'm a car guy.