how much to own a car?

• discusfish

  12 May 06, 13:12

  hi guys...
  
  got nothing to do now..so jz planning for future,
  Just a qs to ask...hope some 1 can advice me.
  
  for a person who jz start work and earning 2.3 k before the CPF cutoff. bring home ard 1.8k
  
  is it still advisable to own a car?
  is it very expensive to own 1? lets say im refering to a 1.1 to 1.3 litre car.
  be it 1st or 2nd hand.
  
  will i be drag down financially jz becos of the car?
  
  thanks in advance
• digicharat

  12 May 06, 14:45

  living with parents and dun need support any other stuffs, can.
  but you will be eating bread everyday.
• manRutd

  12 May 06, 15:44

  Lets not say COE and other blah blah blah...
  
  Juz consider monthly expenses:
  
  Season parking : $65/mth
  
  ERP: $4/day (approx) = $80/mth
  
  Petrol: for $1.9/litre of petrol = $160 /mth (light travelling and to and fro work)
  
  Parking: In Orchard, HDB carpark $2/hr..if u go shopping+ movies, approx $10 for 5 hrs. So 1 mth, 4 times = $40/mth
  
  so 65+80+160+40 = $350 (min)
  
  If you take car loan, paying $400 monthly installments
  Factor in those occasion parking , erp summons etc..
  
  Monthly, u have to pay $750(min)
  
  Other expenses:
  
  Road tax $400/6 mths
  Insurance $800/yr
  Servicing, maintainance: $800/yr
  Occasional paintjobs $100 - $150/visit
  
  No doubt fuel price gonna increase again...
  
  If MRT,
  
  1 trip max $2..
  Give you 1 day, 2 trips + bus transfers = $6/day
  30 days = $180
  
  Occasionally late night movie+ suppers, nightrider $3/trip or at most cab mid-nite = $40. 4 times per month, $160
  
  So total, $180 + $160 = $340 (avg)
  
  U still can save $410 per mth.
  
  That's for my comparison...dunno abt others...cheers
• manRutd

  12 May 06, 15:52

  yar...if u factor in housing loan...paying $600 per mth ?
  
  if take home pay is $1800 - 600 - 750 = $450 per mth..
  
  Everyday u only can spend $15 daily
  
  dats $5/meal w/o cigarettes...
  
  cheers
• ditzy

  12 May 06, 16:02

  Wah, take taxi everyday also cheaper. Of course if the rides are not between the two ends of singapore lar.
• manRutd

  12 May 06, 16:20

  Depend how you see it:
  
  Car can provide you the freedom to travel..but
  
  Car is not an asset but a liability...
  
  Better spend those xtra money investing on other things..
  
  money grow money...best !
  
  cheers
• valentinoo

  12 May 06, 19:23

  for me
  car installment = 700
  season parking = 90
  erp = 1 dollar per day
  parking at work = 70
  patrol = 480
  
  thats for a month...excluding summon, and those goin out parking... and what have u not..
• chrisbenoit

  12 May 06, 20:08

  Dont drive car take public transport and save the earth !!!
  
  My former social studies teacher didnt own a car because he was worried about air pollution.
• Apex-LW'21

  12 May 06, 20:18

  Originally posted by chrisbenoit:

  Dont drive car take public transport and save the earth !!!
  
  My former social studies teacher didnt own a car because he was worried about air pollution.

  Clean & Green
• giggs011

  12 May 06, 22:27

  Originally posted by manRutd:

  Lets not say COE and other blah blah blah...
  
  Juz consider monthly expenses:
  
  Season parking : $65/mth
  
  ERP: $4/day (approx) = $80/mth
  
  Petrol: for $1.9/litre of petrol = $160 /mth (light travelling and to and fro work)
  
  Parking: In Orchard, HDB carpark $2/hr..if u go shopping+ movies, approx $10 for 5 hrs. So 1 mth, 4 times = $40/mth
  
  so 65+80+160+40 = $350 (min)
  
  If you take car loan, paying $400 monthly installments
  Factor in those occasion parking , erp summons etc..
  
  Monthly, u have to pay $750(min)
  
  Other expenses:
  
  Road tax $400/6 mths
  Insurance $800/yr
  Servicing, maintainance: $800/yr
  Occasional paintjobs $100 - $150/visit
  
  No doubt fuel price gonna increase again...
  
  

  Season parking : $65/mth
  where got so cheap...my HDB multi storey carpark $90/mth
  
  Petrol: for $1.9/litre of petrol = $160 /mth
  again quite impossible. assuming 15km/litre
  $160 = 1263km/mth
  avg = 40km / day
  u definetely travel more than that
  
  Insurance $800/yr
  this is no way. 1st time owner with no NCD confirm at least $1500
• adamteo

  12 May 06, 22:36

  if u dun mind no more tours, no more clubbing, etc...always send frens home...then ok..
• SixSentinels

  12 May 06, 23:08

  a car is a burden in a small country like singapore
• valentinoo

  13 May 06, 09:45

  Originally posted by giggs011:
  [b]
  
  Season parking : $65/mth
  where got so cheap...my HDB multi storey carpark $90/mth
  

  its 65 bucks for the older parking lots ( not multi storey)
  
  yeah it cost at least 1.5k per month to drive a car here...damn and i dint realise it...waste of money seriously
• valentinoo

  13 May 06, 09:46

  Originally posted by chrisbenoit:

  Dont drive car take public transport and save the earth !!!
  
  My former social studies teacher didnt own a car because he was worried about air pollution.

  ur teacher is a man full of worries
• darknessfall

  13 May 06, 11:27

  its not a matter of adding on to your finances..
  ITS A MATTER OF WHETHER YOU NEED IT OR NOT..
  
  if you really need to drive around, no matter what, u still have to buy
  if you just feel that owning a car saves abit of trouble, then you shld go with public instead.
• nullifi3d

  13 May 06, 13:17

  Originally posted by discusfish:

  hi guys...
  
  got nothing to do now..so jz planning for future,
  Just a qs to ask...hope some 1 can advice me.
  
  for a person who jz start work and earning 2.3 k before the CPF cutoff. bring home ard 1.8k
  
  is it still advisable to own a car?
  is it very expensive to own 1? lets say im refering to a 1.1 to 1.3 litre car.
  be it 1st or 2nd hand.
  
  will i be drag down financially jz becos of the car?
  
  thanks in advance

  Whatever the case is, you need 1.5 times the amount you pay for your monthly car installments just to scrape through.
  
  So if your car monthly is 700, you basically need around 1K++ in total to maintain and keep the car.