Financing and insurance in Hong Kong

[lx3h]

Liberty has a 8000+ excess. Is this reasonable?

I have no idea and I don't know how the difference can be so great. Quotes varies so much for my case, but not so much for others who has NCB. My thinking is, maybe DirectAsia is still new in HK, so need new customers, therefore a lower price for 0% NCB to attract them, while keeping a competitive pricing for those with NCB.

 

[Ulysses1412]

Hi, I'm new to this forum. My parents just ordered a Model S for me about a month ago. But I'm 19 and just got my license. Is it possible to get insurance? I worry that if I can't find an insurance, I'd have to give up the order. Please help

p.s. both my parents don't have license

 

[lx3h]

Hi, I'm new to this forum. My parents just ordered a Model S for me about a month ago. But I'm 19 and just got my license. Is it possible to get insurance? I worry that if I can't find an insurance, I'd have to give up the order. Please help

p.s. both my parents don't have license

If you are of legal age, you can get insurance, just need to pa more because you have no NCB like me. I went for DirectAsia because they gave me an excellent package and price, you may wanna check out their website and do an online quote.

 

[telegogo]

Insurance

Which insurance do you use? Pls. share

 

[Vmax]

Liberty
Got following information from them, although didn't verify it:
Cooperation with Tesla. Therefore the terms they offer are more favorable than others.

 

[3fiftynine]

Liberty, if you have NCB, they are best. If you don't have NCB or new to HK then they may not be most competitive. Liberty works with Autotoll so they quoted the same rate.

 

[telegogo]

Liberty, if you have NCB, they are best. If you don't have NCB or new to HK then they may not be most competitive. Liberty works with Autotoll so they quoted the same rate.

any suggestions for those without ncb?

 

[markwj]

Moderator's Note: Threads merged as the same subject, and far more information in this thread to help the original poster of the "Insurance" thread.

 

[telegogo]

Seems like DirectAsia likes new no-NCB customers whole Liberty like proven safe drivers.

No offer from direct Asia with 0 ncb for p85d

 

[lx3h]

No offer from direct Asia with 0 ncb for p85d

I supposed that's because P85D isn't even out yet.

 

[telegogo]

I supposed that's because P85D isn't even out yet.

No, they said no offer for P model for 0 ncb owner as this is a high performance car.

 

[pinguhk]

236
some update on Financing the car.

Compare Personal Instalment Loans | MoneyHero

here is what I got for the 70D
Save $37488 on Standard Charter bank

Tesla

other banks

243

 

[3fiftynine]

Why not ORIX they require only 1.18%

 

[Optic]

you also get 37 months buy back guarantee from Tesla if you go through them...

 

[pinguhk]

100
its just more info for people to have a ref.

 

[lx3h]

Tesla and ORIX should take care of the old customers and not just the new ones. We are the loyal ones who waited the longest for our cars. Not including us in the Resale Guarantee is a huge mistake.

 

[charmingchan]

Why not ORIX they require only 1.18%

1.18% is NOT APR, the actual APR is 2.82% for HP or 1.49%, actual APR 2.89% for leasing, still the lowest amoungst most banks. I just accepted yesterday for leasing by ORIX because of the buy back offer.

 

[deku]

1.18% is NOT APR, the actual APR is 2.82% for HP or 1.49%, actual APR 2.89% for leasing, still the lowest amoungst most banks. I just accepted yesterday for leasing by ORIX because of the buy back offer.

Yes, Lease with Orix also need to pay 6 months upfront. Say your tesla is 1,000,000, you will need to pay 6 months upfront, assume 18,000 a month, actual loan amount is 1,000,000 - 6 x 18,000 = 868,000. And the so called flat rate 1.18%. It still consider the load amount is 1,000,000. And total interested is 1,000,000 x 1.18% x 5. Because they use the init. loan amount to count everything. It is just a marketing trick. If it's 1.18% I will borrow 100Billion from them and then loan it to someone else.

 

[Lee Tsui]

Guys looking for a bit of advice, Tesla lands August and now I'm processing the option of Financing through Orix, as I never need finance I have no idea what I'm doing. Have any of you guys bought your car on Loan through your companies and which option do you think is smartest? Lease or Hire Purchase? I had initially considered to buy outright the car but with the loan being so low it makes sense to take the loan option.
I'm just confused as to what option is best for company expenses? as I know the whole car bought with cash outright can get 100% corporate deduction within 1 year, but does having H/P or Lease mean you lose these company benefits? What did you guys all go for in the end because I was gonna HP but now I'm tempted to Lease, just as long as there's still tax savings attached to all options I'm open to suggestions! smile emoticon

 

[deku]

Of course, if you have couple of billions, then it doesn't matters. Otherwise, the APR is ~2.8% which is making pretty good sense to borrow 1M @ 2.8% APR and just go to buy HK electric or CLP to hedge fund your electricity use. Pretty sure the dividends from them more than the interest you need to pay to ORIX plus the general appreciation of securities.