Earn how much to drive merc E-class?
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Generally, how much do u guys think u have to earn b4 u would consider buying a luxury class car like Merc, BMW 5-series and above, Lexus? Based on what kind of measurements? like 20-30% of ur pay to service the monthly instalments? or 2 yrs salary = total price of a car?
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personally, i think one shld only fork out abt 10-15% of his pay to service a car loan. so to buy a E-class which cost like $200k, monthly instalment of say $2k per mth, one shld be earning like $13-20k pm. tots?
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U planning to buy an E-class?
I have a friend who just graduated in May this year, and with just income of ~3K recently bought a brand new Evolution MR, price not that different from a Lexus ES300 or a parallel-imported E200... -
No lah, a friend's sister bought a E-200, she is like mid-20s. so gauging how much she is earning.Originally posted by cornyfish2000:U planning to buy an E-class?
I have a friend who just graduated in May this year, and with just income of ~3K recently bought a brand new Evolution MR, price not that different from a Lexus ES300 or a parallel-imported E200...
wa, i think ur friend is either 1)overstretching himself financially; or 2)father is rich, got money to support car, no money to eat, can ask from dad; or 3)actually earning more than u know. -
You need to fork out a substantial bit for maintenance cost of such luxury cars as well. Especially for bmw, after you've owned one, you realised you've become a slave to your own car.
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If u think standard is to use only 10-15% of pay, then a lot of ppl in Sg should not own car liao.Originally posted by fairlady04:personally, i think one shld only fork out abt 10-15% of his pay to service a car loan. so to buy a E-class which cost like $200k, monthly instalment of say $2k per mth, one shld be earning like $13-20k pm. tots?
A car like Fit cost abt 70K, mth should be around 600-700 per mth. If that is the case, then they should earn 6-7 k right. But if u earn 6-7k, will u like to drive a small car??
I think it should be based on the income level. If you earn 20k plus a mth, u sho be comfortable paying up to 4k mth for your car. But if u are earing only 2k a mth, even if the mth is only $400, if will be also quite tough.
just me 2 cents worth!!!!
Cheers!!! -
yes,I'm drive small car n earning more than that.Originally posted by elfhunter:If u think standard is to use only 10-15% of pay, then a lot of ppl in Sg should not own car liao.
A car like Fit cost abt 70K, mth should be around 600-700 per mth. If that is the case, then they should earn 6-7 k right. But if u earn 6-7k, will u like to drive a small car??
I think it should be based on the income level. If you earn 20k plus a mth, u sho be comfortable paying up to 4k mth for your car. But if u are earing only 2k a mth, even if the mth is only $400, if will be also quite tough.
just me 2 cents worth!!!!
Cheers!!! -
haha, of cos there will be ppl earning but drive smaller car.
Ant there will be ppl who earn little but want to own big big cars.
Cheer!!!
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I drive big car but earn little pay...
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cars not tt necessary in singapore i feel, unless it's needed in job or to preserve an image..
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You need a big car to drive your in-laws around, so they will shut their trap about you being a stingy poker who takes them for rides in a '99 nissan march.
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wad big car u driving?Originally posted by houndy:I drive big car but earn little pay... -
wah 3K and he bought an evo. either his dad is rich or he doesn't have other commitments.
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Or most probably he's been working the past 25 years and its about time to enjoy abit of life with all the money he's been saving.
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just graduated leh. means is around 21-24 nia. hw can worked for 25 years?
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Then I'm really old! He could be Bsing us, who cares?
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true true. but wah if its the truth, mid 20s can drive e200 or evo le. really something.
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just graduated does not equate to 21-24 of age.
Maybe he started his degree when he 30+ or 40 leh?
My mum also 40 den got her degree.
But of cuz in this case i believe the guy is a young guy...... -
haha stereotypes stereotypes. but most probably is la.
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I'm a poor guy guy with a medium size car, LOL
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sometimes it is kinda a dilemma, isn't it? When u r young and yuppie, u want a nice sporty car to show off, but no money. When u have enuf money, u probably want to settle down, and go for practicality like a big saloon or a MPV.
I still think cars are ever-depreciating, so shld not overstretch oneself. if one does not have other commitments, and want to pay 80% of his pay packet just for a BMW, so be it. But on average, i think the best allocation is up to 15%, if you have house, insurance, children, investments, groceries to pay for. -
to mi is the instalment i am paying shld not be more den 20-25% of wad i am earning...!
And wads wrong wif stereotypes???
And dun think there is anything wrong in making assumptions too. -
Owing a flashy car would be cool...but i still think its better to be practical. Wats the use of a jaguar,merc or bmw when a toyota or nissan can drive u ard town too.
Better to save the money and put it to better use. -
A car in sg is nothing but a depreciating piece of moving metal. How much depreciation u can handle is really up to how much ur willing to take and how much disposable income u have.
For me, now, none.. dun earn enuff.. eventually.. maybe about 25%? Who knows.. -
I also dunno... maybe he took a 10 year loan or something, and he's also mid-20s and single btw.Originally posted by fairlady04:No lah, a friend's sister bought a E-200, she is like mid-20s. so gauging how much she is earning.
wa, i think ur friend is either 1)overstretching himself financially; or 2)father is rich, got money to support car, no money to eat, can ask from dad; or 3)actually earning more than u know.
Anyway how many pple in their 20s can earn 10-20K a month? Can earn that figure in the 30s you've gotta be very successful liao...