R34 GTR monthly payments

[Edward Chew]

A GTR is forever is GTR

I can't afford it. non even GTT but i feel.. if you can afford the GTR
Go Ahead with it,

GTT with GTR look for me it like Satria 1.3 trying to be Satria GTi
GTT owner,, no offence please. it just my personal feel

I like the look of the GTR but don't think can effort GTR. So, that's the solution to get a car that looks like the one i want. Hey, a GTT still need around 120-150k la. haha

 

[Jeffe]

i prefer more on performance...GT-R expensive bcoz of the performance and the system that it hav....futher more GT-R =GT-R.....HEHE^^

 

[imoloq]

A GTR is forever is GTR

I can't afford it. non even GTT but i feel.. if you can afford the GTR
Go Ahead with it,

GTT with GTR look for me it like Satria 1.3 trying to be Satria GTi
GTT owner,, no offence please. it just my personal feel

Hehe to the untrained eye, it would look like a GT-R. But to true enthusiasts, they will see tru it in a jiffy! Then again, non-enthusiasts wouldn't appreciate a Skyline, what more to say the difference between a GT-R and GT-T!

 

[Edward Chew]

I'll have it with "I'm a GTT" logo on the back of the car if i really do so. haha. There's one skyliner convert a R33 to R34, the front, but of course, that looks weird when we notice the back. haha
Aiya, seems like im out of topic lo. hehe. ok...

 

[imoloq]

Hey guys, a bit confused here.

I used the monthly installment calculator from motortrader.com.my to calculate the monthly payments.

# of years: 9
interest rate:2.8%
loan amount: Rm200000
monthly payment: RM2097.12

The interest for 9 years amounts to only RM26488 instead of the Rm50000 mentioned by Oinks.

I think it's because the loan amount decreases everytime you pay the installment and then resulting in the interest payable decreasing. Is this the correct way to calculate a loan?

 

[drMpower]

to GTT owners, I reserve some respect for you guys. its been just amazing you stayed as GTT-ers,and not putting this and that to be just like big bro GTR. fantastic. respect.respect.

like imoloq calculated, a GTR will set you back about 2k permonth. and some 1k for running that. but it definitely gives you the priceless moment of your life, just strolling the park. and..aaahhh...its just....the most satisfying part of your life. apart from sex, of course. LOL.

waaaahh.....

 

[Innocente]

Cost

Let me clarify on how the vehicle loan works.

Assuming the loan amount is RM200k, tenure of 9 years with interest of 2.8% per annum. Your monthly installment is RM2319.00 (2318.52 to be exact but they always round it up) and this is the correct figure.

The formula of calculation by Banks for car loans is different from housing loan where it is on a monthly/daily rest. 2.8% in this scenario is not the effective rate per annum. It will be true to say that in 9 years, you would have paid about RM50k in interest.

In a nutshell, the calculation formula is

Installment = (Loan amount + (Loan Amount X interest rate / 100 )) / no. of months

Therefore...

Installment = (200,000 + (200,000 X 2.8 / 100)) / 108 = 2319

Another thing to take note is when you settle your loan, let's say 2 years later..
The bank will not rebate you the remaining 7 years of interest. They will always take another 1.5 years of interest as a cost for early settlement. Hence they would only rebate you 5.5 years of interest.

Of course the total cost of ownership is not a mere Rm2.3k. You will have to consider the fuel, servicing, insurance (approx 6.8k without NCD), road tax (RM1050 - year 2007 new rate) plus the here and there mods to your cars.

In summary, if you have about RM 45-50k to splurge on your ride every year, by all means go for it. Otherwise, don't sacrifice your lifestyle just for a car.

P/S : The motortrader calculation is very wrong. Please do not use it as a real reference. Use my above formula on your existing car loan and you will see the point :)

 

[Innocente]

May I also add that the market valuation of a year 2000 GT-R R34 (probably non V-Spec) by some insurance companies for the year 2007 is just a mere RM10Xk. Hence, even if you insure the car @ 250k, should it gets stolen, the max claim you're getting is RM10Xk :) Probably around RM180k for a V-Spec II year 2002.

 

[Doink]

sighz...steal a GTR better...

 

[sakuraguy]

I suppse an R34 GT-R shall cost about roughly MYR350,000 (Onthe Road Price). Anyone interested, there's one white VSpec at Jln Tun Razak, Bumper To Bumper showroom ..

I wonder the yellow F360 Modena already sold ..

 

[cannondale>]

at least u must have a minimum of 6k salary per month and downpayment not less than 50k

 

[russwestwood]

Owning a GTR is great.. I cannot empasize that enuff!
2.8% per annum interests is good, unlike me, have to pay 5.9%, coz its a 2nd hand car, not unregistered.. but heard horror stories about unregistered GTRs.. anyway, I put up with it coz mine was in great condition.. but be prepared for a heafty d/payment if u dont want to be burdened by a stressful monthly installment... maybe do what I did and save up patiently! Its worth it!

 

[sakakida]

guys i have attched a simple excel file here for your calculation but got to zip it up since this site don't support excel.

just input the figure where i said input and you will get your monthly and downpayment figure.

i created that while i was sourcing for my amzing GTT, well everyone know GTR is the best but i like GTT hahaha and it fit my budget and leave some space for me to improve my skill and the car....

if i take GTR it will spoil the fun of owning a car... as you already the king of the road what else you need to do? just keep on waiting for your opponent hahahah... unless you said just for drag or hardcore track racing then maybe i would consider it... otherwise GTT work best... and you often will find the rear wheel drive is pretty fun hahahah

 

[DmC]

Wow.. lots of reponses.. This is what i need..
Thanks guys..
Appreciate it..

 

[russwestwood]

i created that while i was sourcing for my amzing GTT, well everyone know GTR is the best but i like GTT hahaha and it fit my budget and leave some space for me to improve my skill and the car....

if i take GTR it will spoil the fun of owning a car... as you already the king of the road what else you need to do? just keep on waiting for your opponent hahahah... unless you said just for drag or hardcore track racing then maybe i would consider it... otherwise GTT work best... and you often will find the rear wheel drive is pretty fun hahahah

Hey Sakakida, just to let you know GTRs can also be beaten by other cars if not driven properly. Does not mean u got a GTR u will be king of the road. Take me for example, I already spun out my GTR on a public road once, so its not exactly bulletproof, still takes practice & skill. Another bad point about the GTR is you dont notice what speeds you're driving until its too late, coz ur reflexes have to be 100% all the time. Eg: when you are doing 210kmh, it feels like 110kmh, then when u have to break, u have to break early.. there are also so many other factors, like driving at night with poor visibility, slippery roads, sandy roads, other unpredictable drivers, debris/pot-holles on the road, that you may try to avoid when going too fast and lose control/traction. With GTTs u have traction conrol, but with a GTR, once you lose grip, thats it, and if you dont know the limit of the car and find out its handling characteristics in a controlled environment like a track, we resort to public roads, and thats when it gets dangerous.
But once you get to know your car, you tend to appreciate it more & admire the technology behind it. :)