You've already answered your own question... It's already more expensive to own a car than take transport... $500-$700 more each month if you own a car... meaning you're paying double each month... It's better to save the money, and take public transport... unless you have enough savings to last even after buying a car... Unless your job really needs you to have a car, I say save your money... My basic rule of thumb is $1k for a normal car, $1k for saving...Originally posted by damien76:My situation is such that on average per month, I am currently spending $300 on public transport and a further $200-400 on car rental over the weekends. So in total, I am dumping at least $500 on transport alone. I am wondering is it justifiable for me to buy and own a car???
I've been looking around for a car and narrowed down to both the Mazda3 and a civic, esp the VTi-S. THe mazda is a beautiful model which meets the needs of a normal user, while the civic is a highly-acclaim performance car.
After comparing the prices and weighing the differences, I am contemplating to buy a used Vti-s. The price of a 1 yr old VTI-s is around $62k and the monthly repayment for 90% loan works out to be $660. Plus the fuel (~240), parking (~100), insurance (~100) and tax (~100), my monthly transport expenses will be around 1200. THis is $500-700 more than what I spending on transport now, is it justifiable to waste this additional money? Besides the convenience that I will get, what additional benefits do I get for owning a car??
But I heard from this forum that a new series is coming out in 2006. I am wondering if the new series is to come out, will it push the prices of 2nd hand or used civics further some more???If so, shd i wait???
I hope to have some valuable advice from experienced ppl here.
Thanks in advance!
best to hold .......... petrol price will kill u ......Originally posted by damien76:My situation is such that on average per month, I am currently spending $300 on public transport and a further $200-400 on car rental over the weekends. So in total, I am dumping at least $500 on transport alone. I am wondering is it justifiable for me to buy and own a car???
I've been looking around for a car and narrowed down to both the Mazda3 and a civic, esp the VTi-S. THe mazda is a beautiful model which meets the needs of a normal user, while the civic is a highly-acclaim performance car.
After comparing the prices and weighing the differences, I am contemplating to buy a used Vti-s. The price of a 1 yr old VTI-s is around $62k and the monthly repayment for 90% loan works out to be $660. Plus the fuel (~240), parking (~100), insurance (~100) and tax (~100), my monthly transport expenses will be around 1200. THis is $500-700 more than what I spending on transport now, is it justifiable to waste this additional money? Besides the convenience that I will get, what additional benefits do I get for owning a car??
But I heard from this forum that a new series is coming out in 2006. I am wondering if the new series is to come out, will it push the prices of 2nd hand or used civics further some more???If so, shd i wait???
I hope to have some valuable advice from experienced ppl here.
Thanks in advance!
actually.. if u do have colleagues living near u.. or if u ferry anybody around...Originally posted by damien76:THanks for all the valuable inputs and advice!
Hmm... it seems that its not a good idea to buy one now, guess I have to hold my power at the moment...