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Old 06-08-2019, 10:40 AM   #6041
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Join Date: Nov 2000
Posts: 1,123

I begin to look at this loan at a different angle.

Yes interest maybe high at 4.58%

But if grab still exists for the next 10 years... if i drive enough to cover monthly installment on a pt basis without touching my ft job salary. In theory the car is ‘free’

Just need to top up from my salary to pay for annual insurance + road tax,season parking, petrol as well as servicing... if i dun have car i still need to take public transport right? Also cost money ...


$2500 (ins) + $684 (road tax) / 12 months = $265 per mth

$265 (above) + $110 (season parking) + $240 (petrol - i pump once a week now) =

Consider $615 as monthly transportation cost + convenience...

Servicing also no more monthly probably every 4-6 mths liao since not driving ft.


The car is never free.

You're still driving to get paid, and in theory, you're working. Spending time not of your own.

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