Info on owning a car??
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hi guys....maybe u can shed some lights for me....jus curious cos been hear alot of stories abt ownin a car..jus wan to ask how much u need to earn per month so that u can afford a normal car like toyota corolla comfortably...for those who own car in the forum....please share some figures...jus rough figures.....
thanks
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As long as you earn a decent salary and the bank approve the loan to you. You can buy a car.. But of course you must not default the payment of your car. That case the bank will take back the car. Also must think of the maintanence of it as well..
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u will have to factor in the following costs :Originally posted by eyewitness:hi guys....maybe u can shed some lights for me....jus curious cos been hear alot of stories abt ownin a car..jus wan to ask how much u need to earn per month so that u can afford a normal car like toyota corolla comfortably...for those who own car in the forum....please share some figures...jus rough figures.....
thanks
1) season parking ( if u stay HDB )
2) parking coupons
3) half/yearly road tax ( ard $500+ for 1.5/1.6l )
4) maintenance ( normal servicing around $100 per 10,000km )
5) monthly instalment
6) once a year insurance premium ( $amt depends on yr age, occupation, marital status, NCB etc ..... )
7) ERP/Summons/misc
and of cos, the
petrol cost.
brand new Toyota Vios should not be a prob to maintain if u r earning around $3-4K, if u do not have any major commitments on hand ( kids, housing loan or other liabilities ). dun even think of buying one, if u draw less than $2K. its too risky and too much of a struggle when u factor in other things in your current life.
its up to u to decide/plan your own spending budget/habit ...before u commit on a vehicle.
juz my optimistic point of view.
many forumers have many different way of views.
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I ask this question before previously.
The feedback i gather is....if the family income (husband and wife) is more than $5k a month, than they should be able to afford a new economical car on top of taking care of all of their other Normal bills.... of course the more their combine income...the better they will be lah...
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hi ple thanks for ur reply...glad to know that if earing under 2k,it is not safe to own 1...only when have 3-4k then owning a car will not be a struggle...thanks for the replies....tk care...see ya around...
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That is... when you're single without a family ah... I guess... another way is to leave aside about 1k for the car, the rest for yourself... so just take how much you need to survive a month... and add it up... of course... this is for owning a normal car... if you want to own luxury cars... then double or triple the amount to set aside for the car...Originally posted by eyewitness:hi ple thanks for ur reply...glad to know that if earing under 2k,it is not safe to own 1...only when have 3-4k then owning a car will not be a struggle...thanks for the replies....tk care...see ya around... -
Think you will need to have spare of a bout 1k extra cash to get a car.
1) 600+ to 700+ to service your month car loan.
2) $250 petrol + parking + coupons + ERP
3) maintenance
4) road tax
5) insurance -
in short, you need about 1K a month for a brand new cheap saloon/mini/hatchback, inclusive of everything like road tax, petrol, insurance, erp, parking, installment. examples include picanto, kelisa, accent, rio, wira. generally, a car costing below 50K. 60K bracket includes vios, getz, matrix, cerato, and a lot more i guess. 1.1K or 1.2K will do for 60K cars. of coz, the cost is variable depending on ur road tax, insurance, petrol, and everything la.
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Ayia no $$ drive COE car lor..it you drive COE car buy cheap 1 no needOriginally posted by imprezaWRXSTi22B:in short, you need about 1K a month for a brand new cheap saloon/mini/hatchback, inclusive of everything like road tax, petrol, insurance, erp, parking, installment. examples include picanto, kelisa, accent, rio, wira. generally, a car costing below 50K. 60K bracket includes vios, getz, matrix, cerato, and a lot more i guess. 1.1K or 1.2K will do for 60K cars. of coz, the cost is variable depending on ur road tax, insurance, petrol, and everything la.
to pay so expensive installment mthly 300+ also have and + petrol depend on u travel and carpark i believe less than 600 can drive . -
i used to think COE cars are the ideal solution to poor fellas who wanna own a car. but are you very familiar with cars? various problems will come up when the car gets older and older. maintenance is very ex for such cars. imagine u have to change parts every other month cos something keeps breaking down. in the end it wun be worth the time and $$.
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impreza has a point, do ur homework first....Originally posted by imprezaWRXSTi22B:i used to think COE cars are the ideal solution to poor fellas who wanna own a car. but are you very familiar with cars? various problems will come up when the car gets older and older. maintenance is very ex for such cars. imagine u have to change parts every other month cos something keeps breaking down. in the end it wun be worth the time and $$.
btw, u got ur ride yet bro???
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croco no $$$
O level nia -
u talking about urself? even if u have $$, u still cant drive mah? unless chauffered around la.......Originally posted by sgboy2004:croco no $$$ O level nia -
If you can pay the HDB season parking (1 year), road tax (I year), insurance (1 year) all at the same and without having to beg or borrow money, then you could consider owning a car.
There's servicing (much more expensive if done at agent) to be done. Those major servicings can really cost a dent in the pocket.
There is not fixed minimum income to own a car. How well you can afford a car depends on how you spend your money, and how much you intend to save. -
Wat impreza said is true, my friend bought a COE car and have to spend ard 2 to 3 k for servicing after one part after another one start to show age is catching up.
Originally posted by imprezaWRXSTi22B:i used to think COE cars are the ideal solution to poor fellas who wanna own a car. but are you very familiar with cars? various problems will come up when the car gets older and older. maintenance is very ex for such cars. imagine u have to change parts every other month cos something keeps breaking down. in the end it wun be worth the time and $$. -
Hi, no necessary 3k u can buy car, have to see your own monthly bill oso... imagine, 3k after CPF , u got 2.4k, then if u have to pay said handphone, maxonline, insurance, give parents, then buying a car might be just enough, meaning no saving at all.... there it is best u save some money in ur bank first, then think of buying car and buy car with downpayment, dun buy with $0 downpayment, just in case kena retrench and u sell car dont need to pay....Originally posted by eyewitness:hi ple thanks for ur reply...glad to know that if earing under 2k,it is not safe to own 1...only when have 3-4k then owning a car will not be a struggle...thanks for the replies....tk care...see ya around...
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i heard u can apply for full loan as long as u are earning 3 times the instalment amount. is this is a true rough guide?
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its kinda true .....to an extent that if your job or company is stable enough for the bank to approve a full loan. i guess if u r still new to your company or u have a unstable income, chances are slim that they will full loan u....Originally posted by imprezaWRXSTi22B:i heard u can apply for full loan as long as u are earning 3 times the instalment amount. is this is a true rough guide? -
den can consider the total combined household income of the family when applying for a full loan?
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Using public transport/taxi is cheap & easy in s'pore.
Car is good unless u hv the extra spare cash 2 give to gov. -
well i thing buying new car in s`pore throw aways ur $$ give to GOV buy newOriginally posted by motion5:Ayia no $$ drive COE car lor..it you drive COE car buy cheap 1 no need
to pay so expensive installment mthly 300+ also have and + petrol depend on u travel and carpark i believe less than 600 can drive .
car, it u buy a new car cost around 70k n( loan 10 yr) total i think around 80k+
it u buy COE car only cost u around 20k+ i mean for the cheap model
yes old car need to repair but how much u can repair i dun think anybody take
20k to repair an old car..right ??...the most 5k so it for pple can afford a new car so not a problem this is only who pple can`t afford an new car only choose to buy an COE car -
now new cars are below 50k for the cheap models. yes, i agree. but do u really want ur car to spend time in workshops or would u want to drive it around? i agree that not all COE cars are in bad shape. so i guess it depends on ur luck. pray nothing is horribly wrong and u will get a cheap and good car. new cars are not problem free too as a matter of fact. actually it all boils down to individual preference.Originally posted by motion5:well i thing buying new car in s`pore throw aways ur $$ give to GOV buy new
car, it u buy a new car cost around 70k n( loan 10 yr) total i think around 80k+
it u buy COE car only cost u around 20k+ i mean for the cheap model
yes old car need to repair but how much u can repair i dun think anybody take
20k to repair an old car..right ??...the most 5k so it for pple can afford a new car so not a problem this is only who pple can`t afford an new car only choose to buy an COE car -
yes i agree not all COE car are problem for me looking for COE car BTW iOriginally posted by imprezaWRXSTi22B:now new cars are below 50k for the cheap models. yes, i agree. but do u really want ur car to spend time in workshops or would u want to drive it around? i agree that not all COE cars are in bad shape. so i guess it depends on ur luck. pray nothing is horribly wrong and u will get a cheap and good car. new cars are not problem free too as a matter of fact. actually it all boils down to individual preference.
work as a mechanic so not a problem for me coz i know wat to look for
and by hear and me experience, i have go to look few place 2nd hand
car dealer some car is really bad condition for me i think for COE car...
wat model cannot buy 1 is honda civic VTi and ESi coz this car already give pple
mod until very bad... my friend got buy this model have replace manymany
part the car still overheat...and ABS system warning light on for nothing....
wat i think is better buy a car without any system better dun have ABS
better buy a old man car and for new car...after warranty over aircon sure
give way now for mostly new car need to remove dashboard than can replace
aircon cooling coil...and is expensive to replace it can buy proton wira.......
coz using old system part very cheap ...dun have anysystem on that car... -
This yr(2004) coe bid hv reached the lowest.
Will the COE price go down further(2005)? Ans : yes ,maybe till chinese new year.(Those intention to buy car in yr 2005 must not miss it.)
Maybe the authority hv seen the bad business in the car industry these yrs , so they hv decided to give the car dealers some cheers & the ave. earning ppl the chance to own cars now.
Must make it quick or else there will not be everyday is sunday liao..