Kumapix 0 Posted September 3, 2006 Share Posted September 3, 2006 We're about to buy a car here in Japan and we were told by a friend about this company called Onyx. If you take a loan through them you only have to pay for half the car and after 3 years you can sell it back to them. I don't know all the details but it seems alright. You pay a bit more in interest but only on half a car. then they take it off your hands after 3 years. Anybody dealt with them or know anything about it? Link to post Share on other sites
charlotte 0 Posted September 3, 2006 Share Posted September 3, 2006 Never heard of that. You can get some pretty amazing deals in 2nd hand cars here, I got mine for almost nothing with a year of shaken left on it. Link to post Share on other sites
NoFakie 45 Posted September 4, 2006 Share Posted September 4, 2006 I did a user-shaken the other day. It's very easy and if your car is in decent shape (door dents and holes in the bumper OK!), you only pay the minimum, which is test fee (1500), mandatory insurance (30000), weight tax (for me, 50000 for a two-ton SUV). You pay less for a van than a large car. I only needed to get my high beam adjusted, which the Toyota garage did for free. It sounds like what you're talking about is leasing a car through Orix. If you lease it, it won't be yours, so you won't be able to "sell" it back to them. I think it works out as a long rental with the option to buy very cheaply at the end, i.e., you pay them at the end. I would imagine that the majority of people lease another new car instead of taking up the offer to buy the car they've used. Depending on your situation, it might be cheaper than a loan. I don't know about other makers, but Toyota lease cars, so maybe a dealer can tell you the relative merits between leasing and a normal loan. Link to post Share on other sites
taguchi 0 Posted September 4, 2006 Share Posted September 4, 2006 How long did it take you to do Mr Wiggles? And are you a "car person" who knows a lot about them? Thanks. Link to post Share on other sites
NoFakie 45 Posted September 4, 2006 Share Posted September 4, 2006 No I'm not, and it didn't take long. Only a couple of hours and most of that was messing about finding which counter to pay my money to or hand things in. It may be different on a busy day. You just have to sign a piece of paper saying that the car has been inspected, regardless of whether you did it or not. You could get a garage to do proper checkup if you wanted. With a nice car its probably worth the 15000 or whatever it is. The official check they do at the shaken place involves driving your car along a line of simple tests. That part only takes ten minutes. I've heard people say shaken is expensive because its strict, but it didn't seem very strict to me. Link to post Share on other sites
soubriquet 0 Posted September 4, 2006 Share Posted September 4, 2006 If your car is in good condition and properly maintained, it shouldn't be difficult or expensive. I'm going to be doing the 100,000km service on soubriquette's Legacy this week. The only tricky part is going to be replacing an oil seal. It's made easier because if I buy the fluids and filters at Sanwa, they will change the engine and differential oils for free. Link to post Share on other sites
damian 0 Posted September 5, 2006 Share Posted September 5, 2006 Mr W, a two-ton SUV? I am in shock. Kuma - be really careful to check the terms of the lease much more carefully than the terms of a loan. A lease can be a great thing or it can be a very bad deal, it all depends on the terms, particularly the agreed depreciated value at the end of the lease and the amount of km you are allowed to put on the clock. With a lease you are basically renting the car from the lease company who buys the car from the seller. A lease is often initially appealing as the monthly repayments are far less than a loan. That is because you are only paying for the portion of the car that you use. eg, if you have a two year lease on a $20,000 car and the Lease company thinks that, after driving a predicted 10,000km per year, the car is worth only $12,000 then you pay to them over 2 years in monthly instalments an amount of $8,000, plus interest. At the end of two years if you drove the estimated amount and had the car serviced per the terms of the lease then you can simply return the car to the lease company and walk away, having only paid for the part of the car that you used, that is, $8,000 worth. Mr W is right: they aren't buying it back from you as they already own it, not you. Lease agreements differ by country, but here is a rough guide. Take the time to play with the calculator as it lets you explore the financial mathematics of a lease vs a loan without actually doing any maths. http://www.leaseguide.com/leasevsbuy.htm For a good run down of what a lease actually is http://www.leaseguide.com/lease01.htm Link to post Share on other sites
Kumapix 0 Posted September 5, 2006 Author Share Posted September 5, 2006 thanks spud. I'll check that out Link to post Share on other sites
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