Your Advice Before I Buy A Car - Autos - Nairaland
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| Your Advice Before I Buy A Car by Geepee: 10:57am On Nov 04, 2008 |
Dear Nairanders, I need your candid advice here. I am planning to buy a car of 1.2 million through bank loan meanwhile my annual salary is about 1.4 million net and i have a wife and two children. Is this move advisable. Please let me know what you think. |
| Re: Your Advice Before I Buy A Car by FATHERME: 2:45pm On Nov 04, 2008 |
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| Re: Your Advice Before I Buy A Car by igwe11(m): 2:57pm On Nov 04, 2008 |
It depends on the repayment period and what you need the car for,at least you pay transport to work and other places, think within yourself what impact it will make in your life. will it attract enemies or friends to u? Is your residential area safe? Is your job stable? Also, put into consideration the maintenance cost of the intending car. All these and many more put together will help you. Nevertheless is good to be mobile especially in the case of emergencies. I wish you all d best!!!! Igwe |
| Re: Your Advice Before I Buy A Car by lawry: 10:20pm On Nov 04, 2008 |
u just have to go for a lower price and a car the will not take much to maintain also consider what u spend daily on transportation and other thing that relate to moving around before u go for it actually u can get a car like that and u are fit for it but no one knows tomorow the advice from igwe is also good for u think and calulate well but i strongly advice u start with something u can handle if even there is a shake somewhere |
| Re: Your Advice Before I Buy A Car by brownbonno(m): 10:54pm On Nov 04, 2008 |
Geepee: You didn`t state your wife`s income.If there is no stable income from your wife,i would say to such a purchase. On a serious note,1.4m net is N116.666 per month. House rent ?? Feeding ?? Children maintenance/school fees?? Utility bills ?? Car servicing/maintenance/petrol ?? The list goes on. Please sew ur coat to your size,i would advise to buy a car between 500-650k.A car must not be a luxury but a necessity. |
| Re: Your Advice Before I Buy A Car by abbyode(m): 9:04pm On Nov 05, 2008 |
Follow igwe's advice closely. But personally i dont think you are doing anything wrong. U need a car as a matter of necessity and also as a married man with children. Just make sure you spread the payment well enough so that you can breathe well on the remaining part of your salary. Also make sure that you get a very good car (2000 model upward) so that at least you can have value for your money and appreciate the reason why u pay the bank monthly. So a car of 1.2M i guessed would be reasonable enuf to provide enuf comfort for you and your family. Above all, itz good to be mobile and itz necessary esp in Lagos for security reasons. |
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