how much salary in order to own a CAR in SG

last SG · 2009-09-22T11:33:47+00:00

:lol: farid, ur reply shld be posted in jokes n humour forum...

alleggerita SG

I heard that supposedly you want to maintain a family of 2 kids and a car like Altis comfortably, you need at least a monthly income of $6000 - $7000.

If you scrimp and scrape, no need 6-7k/mth la.

My auntie's husband is SIA captain, take home 8-9k per month. Stay semi-detached, owns Corolla Altis, has 2 kids and still can save quite a lot of money per month. If he really wanted, he could have sacrificed savings for an even better car.

Added: There's stories of his fellow captains also with 8-9k salary with only a wife and no kids managing bungalow with Lamborghini. But that's because that captain took his savings and invested in stocks.

limpper SG

depends on what kind of car you want

lianamaster SG

If you scrimp and scrape, no need 6-7k/mth la.

The figures are given to me by a reservist when I was a NSF a few years back. I find it kind of logical when he explained to me where the money goes. So, the amount will be reasonable to buffer the inflation of goods that we have to suffer every year. Better to 'overquote' than 'underquote'. At most, any leftovers can be used for investments, savings or for own entertainment. No harm done......

lianamaster SG

If those 100k cars like Lexus then how much? (insurance)

I am not sure. Wait till I have the financial means will I head down to the Leng Kee showroom and ask.

mh2 SG

can live without car is best.

kopiosatu SG

Well, a car is commonly the second largest asset after the house.

a car is not an asset

Kuali Baba SG

Well, a car is commonly the second largest asset after the house.

Second most expensive item after the house, yes...

But it depreciates in value, unless you bought a DB5 or something rare.

lianamaster SG

a car is not an asset

lianamaster SG

Second most expensive item after the house, yes...

But it depreciates in value, unless you bought a DB5 or something rare.

kopiosatu SG

Well, I view it as one because it's cost quite a bit and I know that it depreciates in value along the way. But ppl dun seem to get the hard truth drilled into their heads. They still buy anyway for the sake of convenience or they simply buy without planning.

dude

an asset earns you money, the car will be an asset if the petrol station gives you money to pump petrol.

a liability sucks money from u

lianamaster SG

dude

an asset earns you money, the car will be an asset if the petrol station gives you money to pump petrol.

a liability sucks money from u

Ok fine.

I get what you mean.

Blame on my weak understanding of asset/liability.

SGporkz SG

hmm..not sure tho..but ill only consider car when i can earn at least 5k a mth.

which is...hmm..jia you !

maxsee SG

ya i do agree tat u got to earn a minimum of 5k before u can afford a small car in sg....as for those 100k++ car like bmw, lexus...etc....u need a salary of at least 20k and above....coz i am driving the new bmw 3 series.....and i know wat it meant to maintain such cars....

nightsky87 SG

Ok fine.

I get what you mean.

Blame on my weak understanding of asset/liability.

A car IS an asset, albeit an intangible one.

Not everything in life can be equated to money and cents.

kopiosatu SG

A car IS an asset, albeit an intangible one.

Not everything in life can be equated to money and cents.

well

you ARE talking about money and cents in this topic

and which part of a car is intangible?

nightsky87 SG

well

you ARE talking about money and cents in this topic

and which part of a car is intangible?

The part of the definition of an asset whereby one will receive benefit and/or future benefits from ownership.

Yes I admit that in terms of money and cents, a car is definitely a liability, but what I'm trying to say is that some of the benefits of having a car cannot be solely tabulated in monetary terms.

nightsky87 SG

well

you ARE talking about money and cents in this topic

and which part of a car is intangible?

I made a mistake about the car being intangible per se.

What I meant to say is that some of the benefits of having a car are intangible..

Sg99me SG

You don't need to earn so much to own a car.

Regardless of how much you earn, as long as you can put aside $1k to 1.2k a month, you can own a car. So, even you earn $3k- yes you can. Just have to give up on other things.

p228 SG

You can own a car, regardless of how much your pay is.

But, how long you can keep the car with you is 1 thing.

As long as you can pay your first instalment, road tax and insurance, down-payment upfront after you signed on the dotted line, the car is yours !

At the most in the future cannot sustain,

No $$ for instalments : bank repossess car.

No $$ for road tax / insurance: LTA repossess car

No $$ for parking fine: HDB / URA charge you in court

No $$ for traffic offence: TP charge you in court (May lose licence and + demerit points)

At least, you can proudly say that "I HAVE OWNED A CAR BEFORE !!"

carbikebus SG

Owning a car in SG is like a long term installment to our dea gahmen also.AFTER 10 YEARS must renew COE.Its unlike other countries where you can use it until you sian

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