whats the min income u must have to afford a car?

mink77 SG

for eg…1.6l

Ecxentrique SG

depends if you have other committments or not.. else.. u need about 1k (installments + fuel +parking) .. plus watever it takes to cover your daily expenses..food lodging...

mink77 SG

i’ve seen ppl who earn less than 2k but still can afford to maintain a car… can they survive with such a meagre income?

Zex- SG

It really depends on ur current commitments like whether do u have own family to take care of or other investments ....

If you are single, live with parents and need not bother about housing and family commitments, then $2000 per month shld be enuff (*note-- u wont be able to save alot per month) Laughing ...

If u have ur own family to take care, I supposed at least $5000 per month will be advisable or u wont have savings left Mr. Green hahaha

wbucket SG

I supposed those guys ain't driving a 1.6l car. Cause at 2.9k, I find it just OK to support my Kelisa.

I guess rule of thumb is to be able to save 1k comfortablely without car, before you start considering. For a 1.6l car, full loan you might need 1.2k-1.5k per month, depending on how often you drive.

CarDreamer SG

I guess if u earn 3k, u can consider buying a 1.6, with a 10 years loan that result in monthly installment $500, meaning u need to have certain % of downpayment.

so that u will have

1. $500 instalement
2. $200 fuel
3. $100 for parking
4. $500 for your daily usage (depend on how u spend la... rough guide only)
5. $300 for your personal insurance
6. $200 for your starhub cable, hp, maxonline...etc
7. $200 for your parent
8. $400 for saving

Kekekekeee.... something like that.....

Road tax and car insurance depend on your bonus... Mr. Green
or take out from the $ 400 saving which result in little saving or no saving....

Do your maths la Twisted Evil

bo liao SG

Well,
if u dun hv car but got savings to down a car to drive, pay the down then is ok liao..it will be the monthly instalments headache.

if u hv te car already, jus trying to cover monthly instalments then is mayb bout "new car" 1k there,"2nd hand" at least 700.

U hv to count the petrol, parking,servicing,change tires in bald,extra $$ to make car nice,etc..normal petrol is bout $300 there, some crazy FC vehicle can go up to $1k,so i would say u need

>petrol+carpark+instalments+food for urself+a bit of money to do servicing,stand by every month.

Amount is hard to say cos diff car, diff loans,diff FC...so may do mods..

So Gd Luck

wbucket SG

Forgeting road tax and car insurance? +200-300 here!

Anyway, 500*120/1.270=47k, So have to at least be able to down 20k?

200 for your parents??? That's all for rising you up and feeding you all these years??

Anyway, I drive a kelisa. Monthly 500, down 20k, 5 year loan. Still bleeding after 3 months of ownership. So you decide whether the above calculation is suitable for you.