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Buying a used car in Singapore? Here are 5 common mistakes to avoid before making payment


Difference: $2,144
The table shows an additional $2,144 in interest if you opt for the seven-year loan. Of course, the most cost-saving option is definitely to pay the full sum of the used car in cash. However, if that is not possible, you can consider a shorter loan tenure to save some money on interests.
Remember, a car loan can affect your credit score and any future loans that you wish to apply for. These include personal loans, HDB loans and student loans. Hence, it is important to think twice before applying for any unnecessary loans to avoid bad debts or missed installments. ....

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