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Can you afford a car?

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Old 21-12-2007, 05:35 PM   #46
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I most definately cannot afford a car. My pay is horrible. Besides.... i dun even have a licence.

and u r AudiA6
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Old 21-12-2007, 09:31 PM   #47
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how to actually define can or cannot afford? seems like alot of ppl work e calculations and not advisable to own unless earn 5k abv? but i also hav frens wif 2.5k salary buying civics. how is tat possible ah?
I answered this in my original posting.
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Old 21-12-2007, 09:48 PM   #48
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and u r AudiA6
how ironic for his nick...
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Old 21-12-2007, 10:23 PM   #49
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if u have 10 million in yr bank you can well afford a lamborghini or ferrari
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Old 21-12-2007, 10:25 PM   #50
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even ppl who are delivery drivers can afford a car...what do u think
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Old 22-12-2007, 02:19 AM   #51
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I answered this in my original posting.
i 4got to add on...for those frens earning 2.5... they'r not gettin help frm family..neither r they bleedin dry..tis is e amazin yet bewildering part...
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Old 22-12-2007, 04:15 PM   #52
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^ maybe your 2.5 frens are doing sidelines... like bookie or loan shark runner. they earn alot
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Old 22-12-2007, 05:35 PM   #53
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Now that i re-read this thread.. quite refreshing...
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Old 23-12-2007, 04:08 PM   #54
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i 4got to add on...for those frens earning 2.5... they'r not gettin help frm family..neither r they bleedin dry..tis is e amazin yet bewildering part...
IF you are single and have no family commitments, IF you are living with parents, IF you don't contribute to parents or upkeep of home, IF you don't save or invest, IF you take a large/long term loan so that your monthly repayments are (relatively) low, IF you otherwise life frugally, IF you don't mind not being able to sell your car because you have no money to repay the bank loan, then 2.5k is probably enough to own a car.

Its nothing amazing or bewildering. What is amazing or bewildering is that you have access to your friend's bank statements to come to the conclusions that you have made about your friend's personal financial situation. Why not poke around a little bit before you come to that conclusion. Do they have any outstanding overdraft facilities? Rolling over credit card debt? What is the extent of negative equity on their car? How much savings do they have after x years of working? What is the dollar value of the free accomodation, food, utilities, mortgage payments which their parents are picking up?
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Old 23-12-2007, 07:14 PM   #55
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As long the bank approved the loan amount, I do not see why not.
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Old 24-12-2007, 01:35 PM   #56
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As long the bank approved the loan amount, I do not see why not.
loan is one part of the equation, but you need to balance the other side - do you have the capability to continue to service the loan for the stated duration no matter what happens?
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Old 24-12-2007, 01:40 PM   #57
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actually..i know of a lot of people who are earning just $2+K & driving cars...to me, it's quite ridiculous lor...really ta zhong lian pi cong pang zi (i.e. beat the face until swollen so as to look fat!).
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Old 25-12-2007, 02:53 PM   #58
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actually..i know of a lot of people who are earning just $2+K & driving cars...to me, it's quite ridiculous lor...really ta zhong lian pi cong pang zi (i.e. beat the face until swollen so as to look fat!).
Very Gang Ko man!!!
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Old 25-12-2007, 03:48 PM   #59
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IF you are single and have no family commitments, IF you are living with parents, IF you don't contribute to parents or upkeep of home, IF you don't save or invest, IF you take a large/long term loan so that your monthly repayments are (relatively) low, IF you otherwise life frugally, IF you don't mind not being able to sell your car because you have no money to repay the bank loan, then 2.5k is probably enough to own a car.

Its nothing amazing or bewildering. What is amazing or bewildering is that you have access to your friend's bank statements to come to the conclusions that you have made about your friend's personal financial situation. Why not poke around a little bit before you come to that conclusion. Do they have any outstanding overdraft facilities? Rolling over credit card debt? What is the extent of negative equity on their car? How much savings do they have after x years of working? What is the dollar value of the free accomodation, food, utilities, mortgage payments which their parents are picking up?
Amen... How very true...
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Old 25-12-2007, 04:11 PM   #60
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Cars are expensive in sg but I believe they are still not expensive enough. There are still room to make car ownership and use more costly. What's the point of everyone owning one but can barely move on the road?
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