Budget
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with a bring home pay of lets say 2000 bucks...
what kinda car could a person comfortably afford? -
cars in mind are....
kia rio sedan
Suzuki Ignis Sport
Hyundai 2.7l coupe
honda civic..
maybe a wrx sti.....
peugeot 206...the 1.6l version(i think there is one rite?)
yrv turbo
dont care much abt the performance arh...just wanna noe how it would impact a person financially....keeping in mind that he got a budget of lets say 2000 bucks... -
I know of a person who brings home 2k cash and he can only make it for the civic. Not much saving but can just afford it.
Maybe you can consider a kia rio 1.5l now. Pretty good price. -
Matchbox car.Originally posted by Rockhound:with a bring home pay of lets say 2000 bucks...
what kinda car could a person comfortably afford?
Seriously... every analyst already agreed. Based on inflation and if you plan to retire at 60. Don't even think of a car unless you make min 6K a month. THEN you talk about basic cars like Vios, City, etc... -
this bad???Originally posted by Bloop...:Matchbox car. Seriously... every analyst already agreed. Based on inflation and if you plan to retire at 60. Don't even think of a car unless you make min 6K a month. THEN you talk about basic cars like Vios, City, etc...
then when can i own my first car? -
That is what I bring back too. But I save enough in 2 years to down a decent first payment. Driving a Kelisa here, 5 year loan at 500/month. I did 500km/week = S$44. Add in the mis, I just about have enough.Originally posted by Rockhound:with a bring home pay of lets say 2000 bucks...
what kinda car could a person comfortably afford?
Try this thread, read through how much different car cost its owner. I think the lowest is 8k per year for a OPC.
Cost of Car Ownership in SGP Per Year -
Let's say after deducting your pay for CPF you will have $ 1600 per month.
If you get a car that cost $60K with $6K downpayment, your monthly instalment for a 7 and 10 years loan at the current revised interest rate will be approx
$755 and $573 respectively. Not forgetting petrol and season parking that will add up to about $300 per month. Total cost to maintain a car per mth will be ranging from $1055 to $873. The half yearly road tax and yearly insurance have not yet included.
After subtracting your monthly expenses for your car, you just have enough for makan and other stuff. Probably no savings for raining days.
Just my 2 cents worth of comments.
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Let's say after deducting your pay for CPF you will have $ 1600 per month.
If you get a car that cost $60K with $6K downpayment, your monthly instalment for a 7 and 10 years loan at the current revised interest rate will be approx
$755 and $573 respectively. Not forgetting petrol and season parking that will add up to about $300 per month. Total cost to maintain a car per mth will be ranging from $1055 to $873. The half yearly road tax and yearly insurance have not yet included.
After subtracting your monthly expenses for your car, you just have enough for makan, phone bills, shopping and other entertainment . Probably no savings for raining days.
Just my 2 cents worth of comments. -
bring back 2K = dun think about it
at the end of the day you'll have no savings and you might die a pauper. -
I think "bring home" means after CPF deduction. Meaning actually pay might be 2.5k. But the rest of the figures seems reasonable. So maybe you can be like me, save up for 2-3 years. Down using half of the savings, half for rainy days and whatever you have not claculate for your car.Originally posted by IsIsTRD:Let's say after deducting your pay for CPF you will have $ 1600 per month.
If you get a car that cost $60K with $6K downpayment, your monthly instalment for a 7 and 10 years loan at the current revised interest rate will be approx
$755 and $573 respectively. Not forgetting petrol and season parking that will add up to about $300 per month. Total cost to maintain a car per mth will be ranging from $1055 to $873. The half yearly road tax and yearly insurance have not yet included.
After subtracting your monthly expenses for your car, you just have enough for makan, phone bills, shopping and other entertainment . Probably no savings for raining days.
Just my 2 cents worth of comments.
Of course, that means you can't travel, can't drink, can't kara-ok, can't shop like cazy, can't ...... No life! Right? Anyway, if you can't save 1k per month now, you wouldn't survive with a car. -
Heheh. A very small and cheap one.Originally posted by Rockhound:with a bring home pay of lets say 2000 bucks...
what kinda car could a person comfortably afford? -
Even cheap car has the standard expenses like a expensive car. Oil is the same, parking is the same, inssurance about the same.
Advantage of a small car is that you can save up enough to downpay a larger percentage of its price to lighten your burden on the installment. -
I would think if u are taking home abt 2k a month, its best to go for car sharing scheme first.
No point going into a loan and be a pauper just to own a car.
I would think that if u can bring back home more than 3k a month consistently (stable job), by than, you should be able to have a car and lead a rather comfortable life.
Dont rush, Do some careful planning is what I would advice u. -
okok...looking at 2nd hand cars now...........hmmmmmmmm.......50k car reasonable?if i take 100% loan....maybe spread over 5-7 years?
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I believe you can do simple maths.Originally posted by Rockhound:okok...looking at 2nd hand cars now...........hmmmmmmmm.......50k car reasonable?if i take 100% loan....maybe spread over 5-7 years?
Without interest!
Old car 50K/12/7 = 595.
New car (maybe manual vios) 58K/12/10 = 483
Note: Do note that interest for 2nd-hand car is higher for new ones.
So what is your point for getting a second-hand car again?
Please read the post that I linked above to find out the cost of owning a car and ask yourself if you can save-up that amount when you don't have a car yet. -
I don't know you and you do't know me... But as a matter of public service I'm going to state this.Originally posted by Rockhound:okok...looking at 2nd hand cars now...........hmmmmmmmm.......50k car reasonable?if i take 100% loan....maybe spread over 5-7 years?
You plan to retire at some point in your life, no?
Say you are 20 now... you plan to retire at 60 and live another 20 years till you are 80.
That's 40 years of work (provided you have a consistent pay cheque. ie. you never lose your job throughout your working life) in which you have to save enough to last 20 years during retirement.
Given inflation, housing rental each month (if you plan to buy your own place at 2K a month while owning a car... good luck to you), food, etc... You'll need 2K a month at least!!! Although with current inflation more likely 2.5K a month.
So 2k x 20(years) x 12(months) = $480,000 (notice I didn't even talk about falling ill, hospitalisation, etc.)
So now you need to save $1K a month for retirement [480,000 / (40x12)]
Based on a take home of 1.8K a month - you spend 1k on a car (monthly + road tax + insurance + parking + petrol + servicing + occasional repairs).
That leaves you $800 a month... not even enough for retirement fund, don't even talk about rainy day savings or money left for your day to day food and clothes, etc...
You REALLY want a car that badly?
Savings for marriage? Kids clothes, food, schooling etc? If you expect your kids to look after you.. think of this. So hard to make ends meet now, you think your kids will have it easier in future? You think they can look after you too?
Do NOT depend on CPF... that is not enough... Think of it as further insurance incase you live longer than 20 years after retirement... as well as some misc medical cost (which you will need when you get older). -
well, if your company got give travel allowance or car allowance,
then go ahead to buy..
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Worry too much will get u nowhere...
Do your own sum and you shld noe how much u can afford to fork out each mth.
your pay of monthly $2500 should be sufficient to own a small car.
Years ago, I got my first car also with pay of abt $2500. I have no other commitment, stay with parent, no wife, no kid... No, i dun need to eat bread etc... Life is as per normal... and Yes i have little saving at that time but as years passes by, your pay increases and that when your saving starts to build up.
Life is already so stressful in sg... dun need to worry so much... do your own sum and if you feel that u can afford, just go get it... -
I agreed with you. Worry too much and you will miss out what you want after you die. Life is short, just enjoy what you want, don't think too much but of cos to what you can afford la. Sometime too many planning is no good.
If we plan until nice nice like after 60 years old, you will have 500k...etc, do you think you will have the chance to enjoy, to use it? Who noes, may be u die early n u wasted ur time to save and it is not justify to save and never use, kind of wasting effort to save. After all, don't think we will live longer, cos we are eating too many good food and there are too many wireless thingy around us (handphone and wireless access point, too many radiation)
So just go ahead with your dream of owning a car if you can afford but u must calculate nicely so that you won't end up owning a car and you can't even go out.
Guess must set aside of 1k for car, $ 500 for ur monthly usag, the rest for saving or insurance or give parents....etcOriginally posted by endless373:Worry too much will get u nowhere...
Do your own sum and you shld noe how much u can afford to fork out each mth.
your pay of monthly $2500 should be sufficient to own a small car.
Years ago, I got my first car also with pay of abt $2500. I have no other commitment, stay with parent, no wife, no kid... No, i dun need to eat bread etc... Life is as per normal... and Yes i have little saving at that time but as years passes by, your pay increases and that when your saving starts to build up.
Life is already so stressful in sg... dun need to worry so much... do your own sum and if you feel that u can afford, just go get it... -
u can own the Sti if u earn $2k/mth....Originally posted by Rockhound:cars in mind are....
kia rio sedan
Suzuki Ignis Sport
Hyundai 2.7l coupe
honda civic..
maybe a wrx sti.....
peugeot 206...the 1.6l version(i think there is one rite?)
yrv turbo
dont care much abt the performance arh...just wanna noe how it would impact a person financially....keeping in mind that he got a budget of lets say 2000 bucks...
provided u hav the cash to down abt $60k....ha ha... -
Nevermind...
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People choose the way they want to live their life.Originally posted by Bloop...:
See? This is what seperates the financially independant, from those living paycheck to paycheck. One paycheck fails to come for any reason, and their whole life crashes around them.
You are nice enough to share with them what you think.
Just let it be...
Opinions differ as always.
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eh............but if he now can afford a hefty sum of downpayment den $2000/mth shld be alrite cuz he will still haf some savings mah