Just passed

wei1085 SG

Newbie here. Just got my driving licence 2 days ago. I was asking around and ppl kept telling me to get new car instead of 2nd hand ones. But I won’t be getting one anytime soon cos income doesn’t allow. Just wondering..how much should one earn before being able to buy a new car and cope with the very expensive monthly misc expenses. My take-home pay is currently 1.6k btw..

cherhan123 SG

Hi hmm no offence but i take home abt 2.5 k and yet i still dont dare to even think of owning a car so up to your preference …

caleb_chiang SG

Unless you only want to spent like 200 every month... the rest will go into your parking, insurance, road tax, installment, petrol, etc... Rolling Eyes

cherhan123 SG

wow just curious so roughly a new honda jazz mth installment will cost how much excluding all the expenses if take up 10 yr loan?

<Precious> SG

Ya gonna worsen Singapore's traffic congestion? Shocked

JJxJJ SG

i'd prefer an old 2nd hand car Embarassed

so_nice SG

if really need a car then maybe u can buy one. but if dun really need its better to save up. u can always rent a car or buy a cheap coe car.

gnab SG

Many many threads about car ownership.

Normally monthly installment is around 500 for most car... - + .....

That is haven plus petrol, road tax, insurance,parking fee...etc..

From what i estimated for myself, i should prepare aside 1k for car per month...

THAT IS AT LEAST...

cuz like i said, 500 + petrol + parking fee etc etc....

If you cant bare to let go 1k/mth, forget about it...

PS: My views are on normal car plate, if OPC car, surely less use = less money

onlooker123 SG

Car - capital cost plus running cost.

Running cost alone can be quite scary.

Work out the sums carefully.

In my view, take-home 1.6K, not prudent to buy car.

Ah Cek SG

ERP ERP ERP

choppers SG

yup.. agree with most bros here.. got to be patient..
i am earning a decent income... committments not so great.. i am earning more than 6k... but i still drive an OPC only.. last time i drive a non opc.. then find it useless... waste $ to park in town.. waste $ to pay ERP.. i only drive to work on fridays.. reach office before 7 Laughing

HolySniper SG

if u wanna drive ard and try out the ownership of a car, why not consider a PARF car? lower risk compared to COE cars..

but of course you have to get inspect the car first. Laughing

wei1085 SG

What if I get a proton gen 2 (OPC) or proton savvy (OPC)? Will it be better for the budget? Cos i usually work from 7am-7pm so the OPC hours are alright for me. Plus I dun work everyday. And what does it mean by “High Cash Rebate @ 30% of interest”?

BeRt^.^ SG

save money for more down payment better...
loan 10 years is like renting the car minus the free maintenance, free road tax, free insurance Neutral

nightyoung SG

Weekend car ?

Low CC one such as Getz?

monthly installment i think is 300 plus plus, plus petrol another $150. parking etc.. think you would have to spend 600 plus a month...

why not rent a car as and when you need one?

No maintainance problem

CannyOng SG

U shall go and learn 2B and ride a bike Laughing

Then Yr license will be out to good use. Cheap and a good personal transport. Wink