cost of owning a car

[Harry Potter]

Sounds like a monk...
No wonder SG birth rate declining. :bsmilie:

Doesn't he need to give parents allowances, pay for utilities??? or is he still taking pocket money from his daddy / mommy..
Also when u meant a few years... how many is that exactly?

I think is less than 4 years to save $30K for his further studies. He quitted his job around that time to go for studies. He gave his parents allowance. I'm not sure how much is the allowance or does he pay for utilities. After work, he usually didn't go out with us but ate his dinner at home. So that was another reason why he could save consistently.

 

[Harry Potter]

Well, like i said earlier, LTA encourage singaporean to use public transport rather than each buying a car...

So when circlr line complete... it will take MRT transportation up a level of conveniency... so LTA probably expect more singaporean to take public transport... when circle line complete, it make car owning becoming more of a luxuary than neccessity (which is already the case now, circle line will only reinenforce tat fact.)

But of course, LTA could not stop people who still want to buy car... so they will deter from them as much as possible from buying by raising some of the costs in maintaining a car... like the COE, ERP, road tax etc. thus eventually pusing up the total cost of maintaining a car...

So...buy a car before the Circle Line completed? :bsmilie:

 

[Harry Potter]

I think such cases are exception rather than the rule. And also, other than the civil service, I don't think many private companies pay performance bonus. Some don't even get their bonus, let alone performance bonus.

Without performance bonus, year end bonus, whatever bonus, if one can save a mere $840 per month for 5 years, $50K is possible.

Is saving $840 a month difficult???

 

[Canew]

Is saving $840 a month difficult???

For me, it is IMPOSSIBLE.
At the end of the day, whether able to save $840 per month or not depends on the individual, one's income, debts (eg. loan repayments), other obligations, etc.
One should not think that everyone can save $840 per month just because he or she is able to do that personally. Can't generalize this way.

 

[raincool2005]

be very sure u can maintain it... be 101% sure.

 

[jdredd]

dont forget, in addition to the standard stuff like ERP etc, theres also optional items like grooming packages etc.

for me, i service my car every 7500 km and let the dealer service (for free) every 15,000 km. as my average mileage a year ys about 30k km, thats about 2-3 extra services a year that i do which adds another $600 to yearly maintenance. grooming is another $400. plus i get through a set of tires every year, so thats another $800.

 

[jsbn]

Round up ur figures instead of counting it so precisely unless u are so damn sure everything in ur life and ur car will run to clockwork precision.

The estimated running cost is apprx $1K/mth. No way u can run from this figure.

For $1K/mth or $12K/yr, I can:
- Travel around the world once a year
- Do investments to reap returns
- Buy 1 gadget a month
- Save up for my retirement, vegetable farm in NZ or Retirement Village here. ;p

But still it depends on where ur long-term priorities lies. Personally, if private transportation would require me a longer time to reach my destination at peak period compared to public transportation, I'll go with the latter instead.

 

[yanyewkay]

i vote JSBN for "Go Public" spokesman for the year!

 

[Paul_Yeo]

Round up ur figures instead of counting it so precisely unless u are so damn sure everything in ur life and ur car will run to clockwork precision.

The estimated running cost is apprx $1K/mth. No way u can run from this figure.

For $1K/mth or $12K/yr, I can:
- Travel around the world once a year
- Do investments to reap returns
- Buy 1 gadget a month
- Save up for my retirement, vegetable farm in NZ or Retirement Village here. ;p

But still it depends on where ur long-term priorities lies. Personally, if private transportation would require me a longer time to reach my destination at peak period compared to public transportation, I'll go with the latter instead.

Without a car, I can buy lots of books with $1000 per month! :thumbsup:

 

[yanyewkay]

without the books, I can invest in a bit more shares with $1000 per month

 

[Paul_Yeo]

without the books, I can invest in a bit more shares with $1000 per month

yes! come to think of it. without a car, the amount of $$$ we can accumulate and snowball to larger amount after many years :thumbsup:

 

[Teo]

I am a member of CitySpeed car sharing scheme. I am lucky, there is a car station just opposite my house.

Then there is also the NTUC Income Car Co-Op, WhizzCar and the Honda Diracc.

Sorry for late reply, yes (thanks Canew) has mentioned the above car-sharing scheme...It worth a thought for it.


cheers

 

[since63]

I am a member of CitySpeed car sharing scheme. I am lucky, there is a car station just opposite my house.

Then there is also the NTUC Income Car Co-Op, WhizzCar and the Honda Diracc.

Thanks for the links!

 

[Canew]

Sorry for late reply, yes (thanks Canew) has mentioned the above car-sharing scheme...It worth a thought for it.


cheers

Thanks for the links!

You are welcomed, guys!

 

[jsbn]

i vote JSBN for "Go Public" spokesman for the year!

Thank you, thank you.

L LENS, TRINITY LENS, G LENS FOR EVERYBODY HERE!!!

 

[fz30_user]

Thank you, thank you.

L LENS, TRINITY LENS, G LENS FOR EVERYBODY HERE!!!

with all those lens on your hand.. you need a car to bring it around for photoshoot :bsmilie:

 

[foxwagon]

I've an aquaintance who worked barely 5 years, his pay was 4~5k/mth. But ok, that's fine, not very surprising yet. What boggles your mind is his final performance bonus before he left the company. It was a whooping 250k. :bigeyes: .

$250,000! mama-mia, what did he work as?

 

[surge]

Buying a $40K car, I think most people can easily pay by cash as most should have a saving of at least $50K by a few years of work after graduation... So, it will be lesser than $770 per month/

not when you have photography as hobby....drains your money easily...

 

[Teo]

I always tell my friend that if not necessary, then DON"T WASTE $$ buying a car in S'pore...unless you got extra $$ or working as sales with car allowance from the comapny.

 

[Canew]

More ERP gantries coming online soon and the prices have increased.