whats the min income u must have to afford a car?
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for eg...1.6l
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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...Originally posted by mink77:for eg...1.6l -
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?
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It really depends on ur current commitments like whether do u have own family to take care of or other investments ....Originally posted by mink77:for eg...1.6l
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)
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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
hahaha -
I supposed those guys ain't driving a 1.6l car. Cause at 2.9k, I find it just OK to support my Kelisa.Originally posted by mink77: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?
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. -
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...
or take out from the $ 400 saving which result in little saving or no saving....
Do your maths la
Originally posted by mink77:for eg...1.6l -
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 -
Forgeting road tax and car insurance? +200-300 here!Originally posted by CarDreamer: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
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7. $200 for your parent
......
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.