Can you afford a car?

kazuki666

Arch-Supremacy Member
Joined
Jul 16, 2004
Messages
14,613
Reaction score
176
Has anyone calculated the cost of taking grab everyday versus owning a car? Like would taking grab everyday as compared to having the car be cheaper?

For me, home to office is around 15km. Grab Hitch around $11, Just Grab starts from $14 depending on surge. So round up I take 2 trips a day for $30, at roughly 22 weekdays a month. That is $660. So in my situation, personally I feel its still more worth it to use grab than owning a car which depreciates. I don't have to worry keeping my eyes on the busy road, nor sweating for a parking lot when I am rushing for time.

But of course, to each individual's different situation. Some may have family with elders and young children to drive around, thus owning a personal vehicle comes the convenience. I have taken a PHV hitch from a gentleman who has an amazing bargain renting the car at $30++ a day. He was telling me that it was a special offer from a friend. IMHO, if I am in his position, I would have rented the car too. Imagine after work I drive 1-2 trips, or hitch someone otw to office/home, basically it can cover the rental already. What I will need to pay is the petrol and parking only, which can be cover back if he drives a few hours of PHV on weekends on his own leisure not rushing for income.
 

believe88

Senior Member
Joined
Nov 16, 2015
Messages
545
Reaction score
107
Noob here. I am looking at aged 5-6 year old cars. One is a vios but its depre is so high cos the coe bought at 65k. Can i say not much people will consider buying this used car cos its depre is not worth it? Logically is like that right
 

PsyClick

Senior Member
Joined
Jul 13, 2002
Messages
1,761
Reaction score
382
Noob here. I am looking at aged 5-6 year old cars. One is a vios but its depre is so high cos the coe bought at 65k. Can i say not much people will consider buying this used car cos its depre is not worth it? Logically is like that right

Without knowing the exact details.

Yes likely not much people will consider buying if the depreciation is close equal or exceed the current new car depre.

It might still appeal to people who can't afford the DP for a brand new vios though, or someone who is not looking to drive past 5 years.
 

PsyClick

Senior Member
Joined
Jul 13, 2002
Messages
1,761
Reaction score
382
Ok my turn to ask for advice.

Say I decided to buy a 10 year old car & renew COE, and paid up front for the COE ($40K) + car sale($10K).

If i wish to take a cheap car loan for liquidity, at which part of this process do i apply for the bank loan? I dont think they will allow the loan to be given after i pay off the car and COE right?
 

believe88

Senior Member
Joined
Nov 16, 2015
Messages
545
Reaction score
107
Tried this Ocbc instant car loan feature. They say i can get a car up to 200+k. The loan amount like not make sense..

even 40k loan i scared alr, much less 200over thousand
 
Last edited:

fabiaN__

Supremacy Member
Joined
Aug 31, 2001
Messages
6,309
Reaction score
14
Tried this Ocbc instant car loan feature. They say i can get a car up to 200+k. The loan amount like not make sense..

even 40k loan i scared alr, much less 200over thousand

Lol out of curiosity, I went to try it out too.. the amount approved was also like OMG. Better take it with a pinch of salt...
 

BigMonkey

High Supremacy Member
Joined
Apr 30, 2007
Messages
27,089
Reaction score
2,251
Ok my turn to ask for advice.

Say I decided to buy a 10 year old car & renew COE, and paid up front for the COE ($40K) + car sale($10K).

If i wish to take a cheap car loan for liquidity, at which part of this process do i apply for the bank loan? I dont think they will allow the loan to be given after i pay off the car and COE right?

all loan have to be done before ownership transfer.

no bank will offer COE loan. if u wan loan you have to go through finance company.

another way is report the loan amount as coe + car , most bank will smell the fish as quite unlikely car price are high during the parf final year thus bank will reject loan application.
 

believe88

Senior Member
Joined
Nov 16, 2015
Messages
545
Reaction score
107
Lol out of curiosity, I went to try it out too.. the amount approved was also like OMG. Better take it with a pinch of salt...

exactly bro! I know i am a farmer with a average wage. But the loan does not make sense at all. Tried to find out how that number is calculated but nothing.
 
Last edited:

Gambler.

Arch-Supremacy Member
Joined
Jul 13, 2008
Messages
13,722
Reaction score
628
folks, is there a dunmy guide to buying a new car from PI?

appreciate any insights please
 

Gambler.

Arch-Supremacy Member
Joined
Jul 13, 2008
Messages
13,722
Reaction score
628
Find a reliable PI, period.

I bought my car from a PI and its a very good experience.

thanks, able to share your experience? I only know a few reputable ones, i.e. the ones that have been established for long time :s13:
like Vincar, Hua Yang, Emperor that kind
 

hwmook

Arch-Supremacy Member
Joined
Dec 12, 2002
Messages
24,410
Reaction score
1,126
thanks, able to share your experience? I only know a few reputable ones, i.e. the ones that have been established for long time :s13:
like Vincar, Hua Yang, Emperor that kind

Those you listed are those I also gotten from online forums and they seem reliable. I bought my car from Carle which I found from good reviews on Google. I went down to take a look and had a good experience there so place a order immediately. I already collected my car and my SE is still following up and help me to book servicing. Just find a reputable PI that you are comfortable with, don't go for lowest price else you might find them cutting corners and playing tricks with you. Look at the contract clearly, it should list down everything they say they will provide. A lot of horror stories make me kind of worried about PI but after my recent experience, I won't worried about buying from PI, those reputable PI are as good as those AD or even better.
 

batniss

Arch-Supremacy Member
Joined
Nov 23, 2015
Messages
16,193
Reaction score
415
Those you listed are those I also gotten from online forums and they seem reliable. I bought my car from Carle which I found from good reviews on Google. I went down to take a look and had a good experience there so place a order immediately. I already collected my car and my SE is still following up and help me to book servicing. Just find a reputable PI that you are comfortable with, don't go for lowest price else you might find them cutting corners and playing tricks with you. Look at the contract clearly, it should list down everything they say they will provide. A lot of horror stories make me kind of worried about PI but after my recent experience, I won't worried about buying from PI, those reputable PI are as good as those AD or even better.

must buy from reputable and large names one.

if one go for small names, they only have themselves to blame.
Additionally, make sure you don't pay upfront by the honey words. If they say $10,000 for COE bidding etc, you should just pay $10,000. Until you see the COE go into your name then you pay the difference.
 

hwmook

Arch-Supremacy Member
Joined
Dec 12, 2002
Messages
24,410
Reaction score
1,126
must buy from reputable and large names one.

if one go for small names, they only have themselves to blame.
Additionally, make sure you don't pay upfront by the honey words. If they say $10,000 for COE bidding etc, you should just pay $10,000. Until you see the COE go into your name then you pay the difference.

$15,000 deposit is the standard. $10,000 for COE, $5,000 for car. Balance only pay when the car is ready for registration, same practice as AD. Receipt need to be provided for all payments.
 

batniss

Arch-Supremacy Member
Joined
Nov 23, 2015
Messages
16,193
Reaction score
415
$15,000 deposit is the standard. $10,000 for COE, $5,000 for car. Balance only pay when the car is ready for registration, same practice as AD. Receipt need to be provided for all payments.

i bought my ride thrice from PI. All $10,000 (the last one i only paid $1k i told them to pay upfront to bid COE then i transfer them at night). No need to pay extra for the car until car registration.

is all about nego :o - you just have to tell them, there is nothing to worried about the 5 grand if you are confident you could deliver. Unless you couldn't? :s12:
 
Last edited:

Gambler.

Arch-Supremacy Member
Joined
Jul 13, 2008
Messages
13,722
Reaction score
628
Those you listed are those I also gotten from online forums and they seem reliable. I bought my car from Carle which I found from good reviews on Google. I went down to take a look and had a good experience there so place a order immediately. I already collected my car and my SE is still following up and help me to book servicing. Just find a reputable PI that you are comfortable with, don't go for lowest price else you might find them cutting corners and playing tricks with you. Look at the contract clearly, it should list down everything they say they will provide. A lot of horror stories make me kind of worried about PI but after my recent experience, I won't worried about buying from PI, those reputable PI are as good as those AD or even better.

thanks man, can pm your contact for consideration?
 

Gambler.

Arch-Supremacy Member
Joined
Jul 13, 2008
Messages
13,722
Reaction score
628
i bought my ride thrice from PI. All $10,000 (the last one i only paid $1k i told them to pay upfront to bid COE then i transfer them at night). No need to pay extra for the car until car registration.

is all about nego :o - you just have to tell them, there is nothing to worried about the 5 grand if you are confident you could deliver. Unless you couldn't? :s12:

which one you bought from? can sic? :o
 

spencesike

Junior Member
Joined
Feb 19, 2021
Messages
3
Reaction score
0
Car so expensive, why waste money. Public transport is so easy in Singapore don't waste money lah. By the way, have you watched this yet? - youtube.com/watch?v=1H6-XacfcBs
 

hwmook

Arch-Supremacy Member
Joined
Dec 12, 2002
Messages
24,410
Reaction score
1,126
Car so expensive, why waste money. Public transport is so easy in Singapore don't waste money lah. By the way, have you watched this yet? - youtube.com/watch?v=1H6-XacfcBs

It's a want, not a need. My wife want it, that's it.
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top