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Can you afford a car?

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Old 19-10-2020, 05:19 PM   #2236
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Old 15-11-2020, 08:23 AM   #2237
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Need some advices - just started a family with a baby and looking out for a car. Daily would probably be sending wife to work and traveling to office and home. (22km a day) Should I consider a COE car first and test out for 3-4 years first before putting money in all for a brand new car?? But again - any tips on looking out for a still-can-use COE renewed car.

Or should consider a car that left about 3-4 years of COE?
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Old 17-11-2020, 04:52 PM   #2238
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Need some advices - just started a family with a baby and looking out for a car. Daily would probably be sending wife to work and traveling to office and home. (22km a day) Should I consider a COE car first and test out for 3-4 years first before putting money in all for a brand new car?? But again - any tips on looking out for a still-can-use COE renewed car.

Or should consider a car that left about 3-4 years of COE?
Depends on whether you need the car urgently since you already have a baby, new cars can take months (Stock availability, COE bidding). If you're worried about maintenance/repairs, get from Certified Pre-owned programs or at least send the car to a trusted mechanic. Also, if you foresee yourself driving for 10 years a new car maybe a better option.
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Old 29-11-2020, 01:27 AM   #2239
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is it true cars from 2015-2019 are higher COE cos atrributed to the grab vs uber saga? Influx of PHV cars? I see all the Mazda 3 around that time like have quite high COE
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Old 29-11-2020, 01:40 AM   #2240
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is it true cars from 2015-2019 are higher COE cos atrributed to the grab vs uber saga? Influx of PHV cars? I see all the Mazda 3 around that time like have quite high COE
all those Mazda 3s, Vezels, C-HRs probably deregistered and exported out of Singapore already.... not much SLD/SLE/SLF-registered cars around...
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Old 08-12-2020, 06:52 PM   #2241
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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?
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Old 03-01-2021, 05:15 PM   #2242
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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?
whats your distance? Compare grab with a new audi or a COE swift?
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Old 03-01-2021, 06:03 PM   #2243
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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.
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Old 14-01-2021, 12:40 AM   #2244
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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
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Old 14-01-2021, 09:23 PM   #2245
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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.
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Old 14-01-2021, 09:27 PM   #2246
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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?
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Old 22-01-2021, 06:32 PM   #2247
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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 by believe88; 22-01-2021 at 06:56 PM..
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Old 24-01-2021, 11:59 AM   #2248
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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...
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Old 24-01-2021, 12:58 PM   #2249
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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.
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Old 24-01-2021, 12:58 PM   #2250
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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. I now have a bad impression of Ocbc due to this
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