isit worth to get a wkend car??
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as above. tot of getting 1 but duno which to get. Pls recommend.
Pls fill me in the details/pts i have to note of at tis stage b4 & after buying a wkend car.
tks!! -
well...tis u have to ask yourself...Originally posted by _stAnz_:as above. tot of getting 1 but duno which to get. Pls recommend.
Pls fill me in the details/pts i have to note of at tis stage b4 & after buying a wkend car.
tks!!
wad time do u normally drive??
how many times do u actually drive???
wad's your budget for getting your car???
if u drive veri little but still require a car...then get a wkend car lor...but if there is some demand for it do consider a full-time car..
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work your cost....esp if u are on a tight budget.
also depending on where u stay... if u stay near places where there are car sharing sheme available within walking distance, u might first want to go for car sharing scheme if let say u feel OPC is suitable for u.
I guess it will probably be cheaper than owning a OPC car urself.
I think i didnt ans your question...hehehehe...but do give it a thought.. -
Hi!
I currently own an OPC.
Before you decide, you need to know your usage pattern and what is the purpose of the owning a car. These two questions are very important.
OPC will give you a one off $17K discount on COE and $800 off annual road tax. Others being the same.
Weekdays: 7pm to 7am
Sat: after 3pm
Sun and Public hol: whole day -
It is never worth to get a car. Cars in Singapore are for leasure purpose. This is because public transport can bring you to most places in Singapore at a much less budget.Originally posted by _stAnz_:as above. tot of getting 1 but duno which to get. Pls recommend.
Pls fill me in the details/pts i have to note of at tis stage b4 & after buying a wkend car.
tks!!
You should however be concern with the cost of maintaining a weekend car, and other restriction of using it.
Please read on the following to understand more.
Off peak car scheme
Cost of owning a car in SGP -
For OPC, allow me to provide another view of thought.
I am deciding and thinking of whether an OPC suits me and realise something that is perhaps not so obvious.
Ok, for those who dun know how it works, it works in the way that you subtract $17k off your COE (usually off the purchase price of car with COE) and you get the loan for the remainder spread over the desired number of years you want. In additional, you also get $800 rebate on road tax per year.
Basically, you save $1.7k+ $800 = $2.5k per year over a normal car.
Now, if you wish to sell the car, you have to top up back in cash the $17k minus the age the car is x 1.7K
Formula for top up = $17k - (Age of car x $1.7k).
Example: Car is 3 years old and you decide to sell the car, you need to top up:
$17k - ( 3 x 1.7K) = $17k - $5.1k = 11.9K
Unless you intend to drive the car for 10 years, for the $17K that you save upfront, you need to top up back the difference in cash should you want to sell or convert it back to normal plate. With regards to the above example, after driving an OPC for 3 years, you need to fork up a considerable sum of roughly $12K to exit the off-peak paradigm for your car. That is non-inclusive of how much you may need to top up for the transaction of the sale of your car.
Therefore, do think and calculate carefully. Apart from the restriction that you cannot drive on peak period, the main concern is also the amt of cash that you are required to fork out.
All in all, will it be better if in the first place, you get a normal plate car instead which you can drive without any restriction? This will not only save all the trouble, but also not to forget the fact that although you pay $17k more, it is spread over the years in your instalment.