Buy Car or stick to Taxis??

Harendyong SG · 2012-05-11T16:30:15+00:00

I think it's relative isn't it? Having a car here really depends on whether you can afford it. If you're earning $250k p.a, I don't see why you need to worry...

Harendyong SG

According to Mr Brown, the cost of owning cars is about $1,800 as opposed to close to $1,000 when hiring taxis per month. I rather have the 24/7 convenience of a car. What do you think is the best of the two and why?

Bo Call Liao SG

you can only consider buying a car if u have 30% or 20% cash and able to service the loan in 7 years. If u go for 10 years with no Deposit kinda scheme , you are going to lose a lot of $ if u sell or change your car mid way.

COE is now so expensive doesnt make sense to buy a car unless u are flushed with cash. Yea convenience 24/7 but at what price? think how much value convenience is to you and u should be able to get the answer.

bowah SG

Having a car is of course more convenience than hiring taxis, you got your own time, own pace and own travelling in total privacy. Can even travel up malaysia. But if your paycheck is only $3 to $4k, you better think twice, instead of saving, all yr hard earned money might just go into the car, from non asset cost of carparking to servicing to fuel and ever increase in taxation and insurance, it can cost you a bomb not worthy of your opportunity cost.

And also not to mention the fines, maintenances and change of parts.

Mercabs SG

You can still take a cab even when you own a car.

This is called best of both world.

Swee bo

Harendyong SG

my parents were more lucky, they have pension, huge cpfs, so they can pay cash and never have to slog till 62 like us or take huge loans and end up a bankrupt. What happen to our pension?? The silver generation can sure afford to take car and cab in Singapore unless they had gambled all their money at Marina Bay Sands!

f1taxidriver SG

If u can afford a Rolls Royce but dun care about driving, find a chauffeur or a regular limo cabby

If u can afford a R-type but dun want to drive, flag or book a limocab

If u can only afford a used subaru R1 but dun want to worry about parking, TP, LTA, then just flag or book a taxi

If u cannot even afford a 20% down payment on a COE car like a 15yr old civic, please take the bus, mrt or just walk

If u cannot afford a car or dun want to pay for a car but enjoy driving, be a cabby

If u can afford a mercedes, love driving and fetching people, be a ........

If someone gifted u a bentley, maserati or phantom, then u must be one fucking lucky .........

bowah SG

Buying car is something like paying a 100k, drive the most 2hrs a day, then the rest of 22 hrs just display it at the car park.

Khoon2580 SG

If u cannot afford a car or dun want to pay for a car but enjoy driving, be a cabby

tis is a good one!

Just_do_it_lah SG

Buying a car is Bery expensive now, with the COE at sky premiums (especially if you opt for a brand new one).

If you just want a normally car ride... get a second hand car... (depreciation is not that extreme as compared to brand new ones for the initial 3 yrs).

As bro BCL had mentioned above, if you go for high loans, with little cash up front, the compound interest will burnt a hole in your pocket... make sure you go for the cheapest finance loan deals as possible.

Ah Gong SG

buy car.

it is a status

remember the 5 Cs?

Harendyong SG

Now 5Cs also not enough to get you a Singapore girl. If you’re lucky enough to get a girl, All you end up with is being saddled with huge debts, then she may leave you after that. But certainly a car is most tempting to most Singaporeans as Ah Gong says it is a status symbol for most of us!

Ah Gong SG

buy a vietnam virgin more worth it

Susanteo2011 SG

buy a vietnam virgin more worth it

mmmm.................priceless pearls of wisdom...............

dcx SG

can afford then buy.

the Bear SG

actually, the cost of the COE is driven up by 2 sets of people...

the car dealers.. if they promise someone a car, die die also must get the COE so they go and anyhow bid really high.. the most pay the lowest successful bid, if i bid $100k and the lowest successful bid is $50k, i pay $50k for the COE but i am guaranteed a COE... if the COE price is high, taichi over to the buyer...

then there is the taxi companies... the taxi fleet going to scrap... need a few hundred taxis or else the taxi drivers got no taxis... die die must have COE... so they as a company go and bid really high to ensure they have taxis.. costs can taichi over to the taxi driver by increasing rent, and/or taichi over to the passengers by increasing fares...

in the end, those who need vehicles, like those with elderly invalid parents, those with injuries or disabilities which are not covered by whatever regulations will suffer...

if LTA removes these two lots of people from the COE bidding, the COE price will drop like a lead balloon... but since it's been going on for ages and MBT designed this for maximum profit generation, it will never happen

Harendyong SG

Everything goes up in Singapore except our pay. Just doesn’t make any sense! How to take Taxis or even have the chance to own a car?? still got trishaws here?

ditzy SG

I'd like the thought of convenience from owning a car, however the cost of owning one puts me off. Traffic is another major turn-off.

I have put off the thought of getting a car the past 3 years, and hence, I have the money to spend on other goodies in life.

BabyJasmine SG

Just_do_it_lah SG

2nd hand ones also went up accordingly....

Look out for the COE & PARF values if you are looking to buy one.....Pls take note that 3yrs ago, the COE are dirt cheap... you may have a problem re-selling back to the market if the COE dropped like crazy.

Just_do_it_lah SG

I bought a new car last September.....

If I sell it now..... make $$$$$. Buy car also make $$$$..... amazing.