Car Budget question

SkyWalker

26 Aug 04, 16:25

hi everyone!

As I'm totally new to the world of autos, so have to consult all u guys.

Is it possible to buy and maintain a new car for less than $600 per month, inclusive of petrol, parking etc? I keep seeing the $240/mth ads for Picanto.
What other new cars would be within my budget?

I need a car for work, but wish to keep my car expenses as low as possible.

sky

Chocomousse

26 Aug 04, 18:19

Dear skywalker,

A simple illustration.

1)Car park charges- $65 for open car park, $90 for carpark with roof (HDB), for private apartments, should be covered in conservancy charges. Private houses, 0. you paid for the land.

2)Insurance - varies with age, NCD, classification of cars, sometimes they may check on driving history. i would say on the safe side, as a first time buyer of a small car, set aside about 2k per annum for that. Honda is more expensive and not talking about higher performance cars that cooper, suzuki ignis sports, yrv turbo, yaris turbo etc..

3) Road tax - Depends on the displacement of your car. you could refer to one motoring. varies.

4)Petrol - based on your mileage daily. I have assumed $450 monthly, on the safe side. (roughly, 3000km per month, based on fc of 10km/l) excluding rebates from cc, discount from petrol station.

5)Servicing - perhaps for the first 3 yrs, you would have to pay less. Safely set aside about 500-800 a year for servicing and maintenance should be sufficient.

6)Wear and tear - changing of tyres every 40000-60000km. That will cost 100 -200 for a 15inch tyre each.

I have not considered ERP charges, parking coupons, maybe about 20 - 50 dollars a month.

I have also not included minor accidents, due to negligence or carelessness of others.. leaving dents/scratches on your car. Varies.

Beautifying of cars, some may splurge to make it look more sporty, comfortable. Thats really up to you.

Summons, car accidents/repairs (own negligence, claiming on insurance, premium may go up- payyourself)can be other factors. I would not go into details.

Signing off.

SkyWalker

26 Aug 04, 21:44

choco,

wow, really detailed breakdown! thx a lot! really appreciate it.

looks like I can only afford Picanto at this point of time! haha... from your info, min. instalment + expenses would come up to at least $800+, even if I take up the $240 instalment plan for Picanto.

gee... I'm wondering how my ex-colleagues managed to afford new MZ3 and Celica! wish I could afford better cars...

so when are u taking delivery of your MZ2? what colour have u chosen?

sky

SnowFlag

26 Aug 04, 22:28

Originally posted by SkyWalker:
hi everyone!

As I'm totally new to the world of autos, so have to consult all u guys.

Is it possible to buy and maintain a new car for less than $600 per month, inclusive of petrol, parking etc? I keep seeing the $240/mth ads for Picanto.
What other new cars would be within my budget?

I need a car for work, but wish to keep my car expenses as low as possible.

sky

Not possible for < $600, possible for < $1200.

SkyWalker

26 Aug 04, 23:46

Chervolet Aveo

Anyone knows how much is the 5-door Aveo LT Auto version selling in S'pore? Is it true that it's just slightly more ex than Picanto?? How is that possible, since it's much more established brand. If so, I would include it as one of my choices for budget car.

sky

Chocomousse

27 Aug 04, 10:07

Hi skywalker,

The MZ2 should arrive by mid of sept, its in the port at the moment, waiting for documentation to be done.

Its a blue one that I have chosen.

I have forgotten to highlight and inform you that it is impossible to be paying $240/monthly, unless you have paid a 54% downpayment upfront.

Working the sums out

Total cost of car = $50,000
Downpayment of car = $27,000
Balance of the car cost to be paid = $23,000 (not including interest)

Lets put it at loan over ten yr period.
Interest rate of car over ten yrs = 2.4%
Actual interest cost per yr = $23,000 x 0.024 (interest calc. based on balance to be paid)
= $552
Therefore over ten yrs = $552 x 10
= $5520

Plus your principal balance = $5520 + 23,000
= $28520 (Total amount to be paid over ten yr)

So yearly, you will be paying = $28520 /10 yrs
= $2852

Monthly, you will be paying = $2852/12 months
= $237.70 - approx. $240/monthly

Have a good day.

luckyelle

28 Aug 04, 05:31

Chervolet Aveo

Anyone knows how much is the 5-door Aveo LT Auto version selling in S'pore? Is it true that it's just slightly more ex than Picanto?? How is that possible, since it's much more established brand. If so, I would include it as one of my choices for budget car.

sky

I am not sure for the 5-door but the 4 dr Aveo Lt Manual is 59,998 and Auto 62,998. This price include 6mth rd tax, registration fees, gst, leather hostery and 5 disc-changer.

PaulQ

29 Aug 04, 15:01

Originally posted by luckyelle:
I am not sure for the 5-door but the 4 dr Aveo Lt Manual is 59,998 and Auto 62,998. This price include 6mth rd tax, registration fees, gst, leather hostery and 5 disc-changer.

So I suppose the current newspaper advertisement on Aveo does not include leather and CD player ?

lsk005

29 Aug 04, 15:42

Originally posted by SkyWalker:
Chervolet Aveo

Anyone knows how much is the 5-door Aveo LT Auto version selling in S'pore? Is it true that it's just slightly more ex than Picanto?? How is that possible, since it's much more established brand. If so, I would include it as one of my choices for budget car.

sky

juz back from the showroom.....1.4 Aveo auto nw at $58,988 for standard package while it's $60,988 for the premium package which include 5 front loading cd-changer,remote alarm,central locking,fog-lamp,leather seats,sport rims......test drive the car....quite powerful compare to Rio,maybe rio is heavier and Aveo is surely better than Getz in terms of space wise,fuel comsumption(14km/l).