How to afford a car in sg?
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As the above topic, share around etc. monthly payday how much and how you survive with a car. Married peoples how to afford a car
how to manage 
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they can afford cos they wanna put in a $0 down payment and pay a specific amount of installment each month. so its not tt bad. look at those new cars on the roads nowadays..
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Specific amout of installment each month also XiongOriginally posted by FaTe_TwisTer:they can afford cos they wanna put in a $0 down payment and pay a specific amount of installment each month. so its not tt bad. look at those new cars on the roads nowadays.. 
its like range from 700+ onwards those chosen 0% downpayment. -
At least must have 2k take home to support a small car. Anything over 60k car will eat into a lot of your other investments. Married couples, same small car. 4k take home should be enough, but can only allow 1.
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not really.. have a friend who is earning $4k a month and owning a OPC car. Loan of $32K to be paid over 4 years still must come up with $734 per month. Somemore got carpark ($65) and petrol charges ($100).. in total about $900 a month. This excludes road tax, maintenance, and miscellaneous.Originally posted by wbucket:At least must have 2k take home to support a small car. Anything over 60k car will eat into a lot of your other investments. Married couples, same small car. 4k take home should be enough, but can only allow 1.
Lets say $1k a month. For an individual who earns $2k, after cpf will be $1600. less car payment will be $600. Do u think $600 is enough for a month unless no savings..?
My friend take home pay is $3200 less car payment of $1k = $2200 already very siong. Hes trying hard to save $1k a month. -
besides earning power, it will very much depend on one's priorities.
i know of some people whose household income is over $10k pm, but doesnt even want to have a car, bcos they think cars are a sure-lose-money liability rather than asset; and they rather save up the money for investment.
so it depends on how much $$ u place on the intangible benefits like convenience (availability as and when u want it, compared to no taxis/public transport) and status symbol etc.
i know some people who earn <$3k and still buy car, bcos they don't mind no savings at all. They believe in seizing the day and enjoy while it lasts!
so, to each his own. for me, i think my threshold would be to spend at most 10-20% of pay on car pm. and that's it, no more than that. -
I mentioned 2k take home, meaning pay would be 2.5 before CPF deduction. OPC still 700 per month, either full loan and a petty decent car.Originally posted by nick28:......For an individual who earns $2k, after cpf will be $1600. less car payment will be $600. Do u think $600 is enough for a month unless no savings..?
My friend take home pay is $3200 less car payment of $1k = $2200 already very siong. Hes trying hard to save $1k a month.
But of course saving 1 k would be impossible if you own a car at such a salary. But I would say, this salary will be enough to afford a car. -
I would rather earn enough money, so that when payment for the car installments come in, I can pay without blinking an eye... but then again... how many people in SG can actually do that?
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i have heard of pple who would rather take on two jobs (1 full time, 1 part-time) just to support the car.
it's about how much u want to own a car. -
I will only buy a car if I know after buying 1, I can still save 1k a month.
That would mean I need a take home of at least 3k minimum,
Eg.
1k for Car.(Rough Estimation for a normal average jap saloon car with little DP)
1k for saving. (
1k for monthly expenditure.
In fact, as the standard of living is getting higher and ppl are seeking out for more comfortable lifestyle, I reckon nowadays monthly expenditure can come up to 1.5K
So, to be very comfortable, minimun take home must be 3.5K. That would mean a gross of 4.2K
Thats how I feel. -
and it's pretty painful to see all ur bank account shrink or grow at a much slower pace after buying the car... there are also unexpected expenses such as attempted burglary (keyhole kanna digged n scarred - it happened to me recently! f*** the bloody idiot! may he rot in hell!), accidents, tyre puncture, rim spoilt, kantung spoilt, radiator spoilt, gearbox spoilt (worst!)...
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So owning a car is singapore is not so easy as all the people says, i noticed those cars out on the road are just for show, in the heart they are paying the monthly instalement of their cars till Xiong. By the way, my pay is 2k per mth minus cpf. i got savings for my marriage, so i would rather get it after my marriage.
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house loan, car loan, children school fees, maid salary, household expenditure, pocket money for father/mother/sister/brother .. all $ ..
its not jus how much income also how much liability .. -
no offence but...Originally posted by zichuan:So owning a car is singapore is not so easy as all the people says, i noticed those cars out on the road are just for show, in the heart they are paying the monthly instalement of their cars till Xiong. By the way, my pay is 2k per mth minus cpf. i got savings for my marriage, so i would rather get it after my marriage.
i am not sure how much your savings are...but u still want to get a car after marriage when u have more liabilities? such as, family, children, wife, household expenese, housing loan, renovation, marriage
unless of coure your wife is able to chip in -
Maybe i get a small car to drive to my working place, when married see i really need a car, if not i dumped the car.
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It depends on how you want to spend it. 3/4 of my salary goes into my car.. but i still manage some savings... just that you wont enjoy earthly pleasures.. but then to me a car is more than just transport.. it is a hobby...
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dying to have a car, but i always rem what my friend told me: with the money one spend on a car is equivalent to buying a new pc every month.
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Well.. though i got the burning flame that boils down to my heart that i intended to own a car, but i seems to be family oriented. I choose my finacee and my family first. Car i consider later part of my life.Originally posted by www:dying to have a car, but i always rem what my friend told me: with the money one spend on a car is equivalent to buying a new pc every month. -
Well said!! Honestly, if you're the type like me, who has to travel out of Singapore often, you'll realise how ridiculous the cost of owning and maintaining a car in Singapore is.Originally posted by www:dying to have a car, but i always rem what my friend told me: with the money one spend on a car is equivalent to buying a new pc every month.
As more and more SIngaporeans, start realising this, I'm sure there will come a point when the car showrooms will be left vacant.
I read recently that despite the hefty taxes, COEs, and the ridiculously high prices for cars and petrol, certain popular brands like Toyota are actually marked up by more than 10% per car by the distributor!! That too for made-in-Thailand cars, which are dirt cheap everywhere else. Have Singaporeans lost their heads, or have we just accepted the ridiculous price tags as norms You decide.... -
You can always try getting a second hand car.. those after ten yrs. It will be cheaper in some sense. If maintain well it will serve to you and your family well. Alternatively you might also consider choosing an OPC.Originally posted by zichuan:Well.. though i got the burning flame that boils down to my heart that i intended to own a car, but i seems to be family oriented. I choose my finacee and my family first. Car i consider later part of my life.
Owning a car is always enjoyable but have your sums done well before you commit.
Cheers -
I guess it is like what was posted above, "how much do you want that car?". For me, now my parents are still able and working. Not girlfriend, not family. It is now or never for me to own a car. Wait til I am older, and lady love smile on me, then it is either family or the car for me.
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hi, may i know what car are u driving? the friend i know is driving a vios and he is paying $900 even though its an OPC.. $900 is like 27% of his take home pay.Originally posted by wbucket:I guess it is like what was posted above, "how much do you want that car?". For me, now my parents are still able and working. Not girlfriend, not family. It is now or never for me to own a car. Wait til I am older, and lady love smile on me, then it is either family or the car for me. -
my take-home is about 2.4k... car is coming in june/july and will take up around $800-$850 per month.
which is abt a third of my take-home, and i find it very shiong already.
no commitment yet of any sort (family, gf), just started out working for nearly 1.5 years.
no savings, but that's bcos that's my lifestyle for now.
and i find that, it's easy to own a car, but upkeeping it is the major challenge. it's abt how secure your job is for the next 3-5 years and whether you can continue to feed the car or not till then.
if you think you can, i say, go ahead.
i consider myself still immature in thinking cos i want a car when i'm still young (26 this year), and not when i'm old (e.g., 55yrs old). -
$850 includes road tax, pertrol , and car park? wah, u are daring.. thats like 36% of your nett pay..Originally posted by rumie:my take-home is about 2.4k... car is coming in june/july and will take up around $800-$850 per month.
which is abt a third of my take-home, and i find it very shiong already.
no commitment yet of any sort (family, gf), just started out working for nearly 1.5 years.
no savings, but that's bcos that's my lifestyle for now.
and i find that, it's easy to own a car, but upkeeping it is the major challenge. it's abt how secure your job is for the next 3-5 years and whether you can continue to feed the car or not till then.
if you think you can, i say, go ahead.
i consider myself still immature in thinking cos i want a car when i'm still young (26 this year), and not when i'm old (e.g., 55yrs old). -
Get a 2nd hand OPC car monthly $300-500 still ok by me. If im single now, cool I can own a car anytime, but family plays important part.
Hard to manage my financial if i do a review on it : 2k per mth minus cpf
1k - Savings/Per yr = 10k(Target 2yr to save 20k for my simple marriage) If can still manage to save after 2yrs, continue this routine.
1k - This part plays a important part to spilt my financial spendings 
Imagine to own a car, cut down to half 
My finacee part, i dont think she enough for her usage too, simple job monthly 1k = her monthly expensive, somemore not enough use, imagine my side 1k need to combine with her life.