R34 GTR monthly payments

[Oinks]

2.8% isnt simple interest... its annual... so u have to times (200kX0.028X9) to get the cost of interest.... the calculations used above only reflects a single year....

 

[eugeneleck]

Just curious... is it really possible to find a brand new unreg R34 ... BNR34 to be exact... at RM250k ?!?! Seems like quite an optimistic estimation...

Personally I feel that to have a GTR and still live comfortably without having to pay through your nose, you should be raking in at least RM10k a month, taking into account all sorts of contingencies, otherwise, should anything happen (touch wood), you'll find yourself in quite a deep pool of mud.

Btw, can anyone share some experiences of maintaining a R34 GTT?

V-Spec,

I'm not sure how much is a brand new unregistered R34 costs. My estimation is around RM250k.
How much loan can i obtain for this price of car & interest for loan - I'm not sure.
Thats y i need someone who owns R34 or maybe even R33, be it brand new ot even pre-owned to list down roughly how much they are paying monthly.

 

[Lennon]

Just curious... is it really possible to find a brand new unreg R34 ... BNR34 to be exact... at RM250k ?!?! Seems like quite an optimistic estimation...

Personally I feel that to have a GTR and still live comfortably without having to pay through your nose, you should be raking in at least RM10k a month, taking into account all sorts of contingencies, otherwise, should anything happen (touch wood), you'll find yourself in quite a deep pool of mud.

Btw, can anyone share some experiences of maintaining a R34 GTT?

I'll wish there's brand new too..... :_:

 

[Driftmeister]

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. :)

YB Russ

Well said on owning a GTR urself. I guess it all depends on the driver whether he is sensible on the road while still enjoying his ride whether fast or slow. The unexpected can happen to anyone, ppl beating red lights then slamming into you, turning without signals, inconsiderate drivers and tailgatting to name a few.

My experienced driving a GTT without Traction control (dry road) sometimes made me more of a careful driver and understand the car better. Sometimes letting the ECU taking over can make us lazy & contented. I salute those drivers who has non of the gadgets like 4wd, TCS, ABS, 4WS, etc but still can drive like a Shumi (sorry im an avid fan). Cheers to everyone & HAPPY CHINESE NEW YEAR!!:shades_smile:

 

[ericee]

10k is not enough to own a gtr34, that's my 2cent opinion. rule of thumb your annual salary should be equal to your car price.

 

[k3nny]

A few things i can tell you that i experienced with my GTR.

1. Never have a GTR as a daily driver. Im thankful i dont drive her daily.

2. Its never the instalments that kill you. Its the mods and maintenance and fuel consumption.

3. The need for speed is endless.

4. Being contented is a myth.


Dont buy a GTR unless you have a big pool of cash reserves to modify your car with.

1 fine day, radiator pecah. RM2.5k

Next thing you know, std turbo's give way or turbo oil seals.. ALOT OF MONEY.

Next thing you know, you need to service. And using good lubes will cost quite abit.

Next thing you know, your tires are due. 275/35/19 is not cheap man..

Next thing you know, you want to add a front pipe. RM2.*K.

Then you need to retune.. ANother RM1k odd + dyno charges maybe?

Defi guages? Sound system?

Just the maintenance will kill you when something goes wrong.

If you dont fix, then be prepared for the car to sleep in the workshop or at home.. but the thing is, it sucks to pay the insatalments for something you cant drive right?

Thatss why you end up fixing it anyways... :D Suffer lar.. hehe

 

[eugeneleck]

Yah I also think that is the best-case scenario. unfortunately, passion will sometimes overcome rationality... I'm quite sure a lot of people get cars that are worth more than their annual salary and slowly pay them off...

i think a big factor people consider is how big a portion of their salary are they willing to spend on repaying for their car a month. any takes?

10k is not enough to own a gtr34, that's my 2cent opinion. rule of thumb your annual salary should be equal to your car price.

 

[sakakida]

YB Russ

Yup agree with you and the driver itself is very important and the speed feeling in GTR and GTT is kinda killer also.. i was complaining to myself this morning while making my way back to kl... why am i so slow... but only to notice that i'm already running at 180km/p all the way... the speed limit cut off is actually life saving when you going on crusing...

 

[imoloq]

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 :)

Thanks for the clarification. RM2319 for car installment is more than some installments for houses! Really need big income to afford a GTR!

 

[imoloq]

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 ..

How to calculate OTR price? There's an unreg R34 GTR on motortrader going for RM27xk. Let say it's RM270k. What will be the OTR price?

 

[imoloq]

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!

What horror stories? Rust? GTR sambung? Give some heads-up to future GTR owners who are browsing this thread hehe!

 

[jeffblazed]

aiya why so hard .....thinking about loan and everything.....just sell the property u own and pay cash for the car la......why so hard rm250,000 plusplus...not much la ..some one just sold of his fully paid condo for rm310,000 and bought a r34 gtr rm260,000plusplus and a new double story teres house worth 180,000 so now he only pay the bank rm 1k for the house and his gtr is free bonus....so now he can park his car safely in his house compound inside his custom made 14 feet gate.....thats what i call win-win situation..get house and car.......

 

[BLaCkHoWLiNG]

well, unlike cars, housing property do not depreciate tat much...

 

[Innocente]

OTR means the $ you have to pay to get the car out. Basically it's the downpayment + insurance + roadtax + JPJ registration + inspection + no plate. For the GTR, I would presume it is approximately RM50K + 6K + 200 + 1k (not sure on this one) + (RM210 -> RM80k : depending on the no plate you are looking for).

 

[russwestwood]

Well, heard a few horror stories, like, failed pistons & broken crankshaft after one unfortunate malaysian bought an unregistered R34 GTR. Reason I know this is because he is the guy who tried to buy my car from my car's previous owner, but opted for unregistered as it was cheaper than a 2nd hand from Malaysia GTR, having more annual interest rate on the loan. But luckily he managed to presuade the company who imported the car (whom he bought the car from) to cover some of the cost. I guess you can never really find out how much the car has been trashed from the japanese owner. I know of some companies which ask you to pay them a depost so they can import an unregistered car for you, which is truly a gamble, coz u dont even get to sit in the car for a test run.
Best advice is, save up to buy the new Nissan GTR!