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  1. #1

    Default Read before you loan: Balloon Scheme

    Credits to the writer for going down to the details.

    Good write-up on the balloon scheme that is used to attract ppl into buying cars at a lower monthly installment. Pls read before you decide to take up this loan.

    Morale of the story: Live within your means.

    Enjoy reading!

    http://www.tzlee.com/blog/?p=1417

  2. #2
    Join Date
    Sep 2006
    Location
    Seng Kang
    Posts
    5,406

    Default

    Thank you for sharing Bro.

    On top of such schemes, $0 down payment, 'rebates' are ways to entice owners to buy the vehicles too bah..

    Similar to the ways banks recommend you to take credit loan, take up to 4 times your monthly income and repay over 6-12-24 months, that is where they earn your interests, and they wait for you to default on 1 month and they can slap the minimum penalty and interests..

    Whenever possible, make sure always prepare at least additional 10-15% extra monthly on top of your budget when owning a car, servicing, breakdowns, wear and tear sometimes can turn up to a sum too if not prepared.. :)
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  3. #3

    Default

    Thanks torres gor for sharing.. yes there is still many chaps out there happily taking up ballon loans without.. errmm.. i like this sentence

    "Sorry to burst your balloon! Truth hurts but it’s for your own good."

    LoL
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    we study hard so that people don't look down on us, we study even harder so that we don't look down on people...

    *p.s I am returning whatever knowledge that is taken from here by posting it back. I am not guru, not pro but just another LMC supporter. :cheers2:

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