R34 GTR monthly payments

[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. :)

 

[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?