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BANGKOK 16 July 2019 13:07
kmw

Benz C220d

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Hey all we are wanting to buy another car, Benz c220d so just the entry level, been around to a few local dealers and been given a few quotes in relation to financing, can buy from anywhere in Thailand and just drive it back home to chiang Mai,

 

I've attached the best quote so far, wondering if anyone else knows of any other cheaper financing?

 

Did consider paying for the car outright but having the money in our accounts can return much better yield, so just trying to find the lowest interest rate, 

 

Thanks 

IMG-20190713-WA0004.jpg

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Remember to check early repayment get out clause in case you need to cancel the credit plan...Our lad didn't and they wanted 50% of the total 7 year interest....It was in writing on his plan.

 

I have fond memories of my 2002 E220CDi auto......

Edited by transam

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Did you consider that the interest rate stated on your paper is APR, and the effective interest rate is about twice as high? So financing only makes sense if you can make more than 5% ROI risk free

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How you calculate ROI (Return On Investment) on a car??


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7 minutes ago, jackdd said:

Did you consider that the interest rate stated on your paper is APR, and the effective interest rate is about twice as high? So financing only makes sense if you can make more than 5% ROI risk free

Yes I'm aware, also 5% PA is fine as I run a small hedge fund, just trying to find the cheapest rates, just a bit of a hassle going around to banks and dealer for quotes all day as they all vary

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Just now, luk AJ said:

How you calculate ROI (Return On Investment) on a car??


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I think he's probably saying that unless you are earning at least 5% on your money you use for your car payment, you are losing money. In those terms, the best savings accounts only pay 1.5%, and an good indexed mutual fund would pay 10-12%, so it's safe to say most people lose money financing a car.

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1 minute ago, luk AJ said:

How you calculate ROI (Return On Investment) on a car??


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You don't, just that an extra 1.5 million in my hands in other investments is much better then it being tied up in a car if we were to pay for it outright, 

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On 7/14/2019 at 1:08 PM, kmw said:

You don't, just that an extra 1.5 million in my hands in other investments is much better then it being tied up in a car if we were to pay for it outright, 

In my opinion the decision to buy with cash or on finance is not straight forward.

 

For you taking the 60 month deal you will end up paying an extra 212.000thb, which over the five years amounts to about 42,570thb ...so very basically and on average you would need to make that every year. Of course you would only really have half the 2,279,000 less deposit invested over the five years, excluding the annual cumulative interest. So you can easily work out the annual interest rate that you need to achieve. Of course if you could keep that initial sum invested over the whole period then that changes things.

 

I recently bough a car ... was offered 500,000 off or 0% finance over 5 years. I bought for cash but am not 100% sure I made the right choice. I didn't consider the problem of selling a car that is not on finance. It seems that locals are more likely to take over the finance if you or your wife ever needs to dispose of the car than pay cash. I think if I became dust my wife would prefer to keep our other vehicle  and dispose of this one.

 

Also a lump of cash can make your life feel more secure. If you only have one lump.

 

I see that they haven't offered you the first years insurance and you will need to pay them to register the vehicle. My wife has just registered  ours (mine) herself.

 

p.s ... I don't think that they come with an english manual now ... if they won't buy it for you (circ 5Kthb) ask for a photo copy at least.

 

I think BMW give you 5 years of everything ... but it's not considered on the same level as a Merc .....

 

Before you commit join a C Class forum ... Mercs are not exactly trouble free and can be quite expensive after warranty expires ...the price of an extra two years warranty should give you a clue.

 

I think BMW give you 5 years of everything but it's not considered on the same level as a merc ......

 

p.s. MB don't supply an english manual now, I think its is quite expensive to buy (circ 5kthb) if seller won't give you one ask at least for a photo copy ... it is on the net though. 

Edited by JAS21

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