Can you afford a car?

[pricklepantz]

juz got my license last week ... what are the recommended car rental for probation driver?

 

[giraffey]

juz got my license last week ... what are the recommended car rental for probation driver?

Wont recommend for probation drivers. Insurance excess is quite high.
But if rental is really needed, go for the big brands to play safe and dont get swayed by the low prices you find on carousell, forums, etc. Some like to play the blame game for damages that may not even be caused by you or have ladditional contractual clauses

 

[Thoreldan]

I have asked this question a couple of times but didn't get very conclusive answer.

For fellow drivers here, how much do u save/invest per month on top of all expenses.

Wanna guage how long more before i would be ready to own a ride.

 

[terence2112]

I have asked this question a couple of times but didn't get very conclusive answer.

For fellow drivers here, how much do u save/invest per month on top of all expenses.

Wanna guage how long more before i would be ready to own a ride.

My salary is around 4.5k. On TOP of all expenses, including car, I can save around $900 plus.
I’m a simple person who don’t mind eating at the Hawkers, and a sucker for cheap food.

 

[batniss]

I have asked this question a couple of times but didn't get very conclusive answer.

For fellow drivers here, how much do u save/invest per month on top of all expenses.

Wanna guage how long more before i would be ready to own a ride.

close to 10k/mth.

 

[Thoreldan]

close to 10k/mth.

Wow high earner spotted. Close to 10k per month on top of all expense !

 

[Thoreldan]

My salary is around 4.5k. On TOP of all expenses, including car, I can save around $900 plus.
I’m a simple person who don’t mind eating at the Hawkers, and a sucker for cheap food.

Having an excess of 900 on top of expenses (including car) is not bad at all

Mind asking if you're married with kids ? Have your own property ?

 

[terence2112]

Having an excess of 900 on top of expenses (including car) is not bad at all

Mind asking if you're married with kids ? Have your own property ?

Yeah, married with a kid, and staying at my own place.

 

[Thoreldan]

Yeah, married with a kid, and staying at my own place.

Very nice, very thrifty

 

[FromSG]

I have asked this question a couple of times but didn't get very conclusive answer.

For fellow drivers here, how much do u save/invest per month on top of all expenses.

Wanna guage how long more before i would be ready to own a ride.

$3k. Driving a mazda. Feel like upgrading to a CLA as YOLO

 

[gnoes85]

Yeah, married with a kid, and staying at my own place.

Your wife working? I also think is time for a need of a car but wife not working and I earn about 5.5k. Aiming for a cheap 20k 3years COE car.

 

[terence2112]

Your wife working? I also think is time for a need of a car but wife not working and I earn about 5.5k. Aiming for a cheap 20k 3years COE car.

Yeah working. But I didn’t ask her to contribute to the car.

 

[batniss]

Wow high earner spotted. Close to 10k per month on top of all expense !

what is wrong? i think alot of people fall under this bracket anyway

 

[Thoreldan]

what is wrong? i think alot of people fall under this bracket anyway

Did i say there's something wrong ?
Dont gan cheong bro

 

[batniss]

Did i say there's something wrong ?
Dont gan cheong bro

i ask only.

Dont gan cheong bro

 

[GGGGGG]

My salary is around 4.5k. On TOP of all expenses, including car, I can save around $900 plus.
I’m a simple person who don’t mind eating at the Hawkers, and a sucker for cheap food.

Hey bro, do you mind breaking down your expenses? Family of 1, own a car and have house to your own and still able to save $900 a month is king. How about your own insurance? Car all in per month how much? You do hitch or anything to cover your expenses on car?

 

[batniss]

Hi, this may be a 'noob' question. But I'm looking to take a loan of about 20k for a car. I have an HDB coming at the end of this year, and my concern is if the car loan will affect my HLE.

I'm taking the HDB loan and will have more than enough to make the monthly installment for the house via CPF.

Anyone can advise? Thanks!

20k means if your car is 100k u down 100k?

by all means if that it is. Actually im puzzled why people come and ask for advise. Eventually is about u shifting what u need in life and the amount you've left. No?

 

[hugobaby]

Your wife working? I also think is time for a need of a car but wife not working and I earn about 5.5k. Aiming for a cheap 20k 3years COE car.

Hi bro. You have a kid or planning to have one? I suggest not to get a car. 5.5k, you bring back about 4.4k and using this to support your family, and also your parents.

I am 31, earning 9.8k, bring back 8.6k.Wife, 36, earns about 6.2k, she bring back 5k. But even with our income, we feel its not enough. I bought a BMW, paying about 850, but I wish that I didn't buy this car and invested more on my son instead.

Roughly my breakdown:
Parents, 800,
household 2k,
wife 500,
Car 850,
Diesel 80 (rarely drive as I work from home) only top up like once every month for full talk.
Investment 1000 (mid risk)
Insurance 700(paying for my wife, kid and myself)
Some insurance savings plan 300 (low risk)
Top up cpf OA 200-400(See mood but min 200), I top up just in case I kanna fire at least my house loan can be service.
Top up child CDE 500
School loan 330
Others misc dunno how much

I know my expenses about 7k+ monthly, which leaves me about 1.5k. Even with 1.5k excess, I still feel not enough. At 5.5k, I suggest better not. Once u have a kid, you will feel the strain staring from when he's in your wife womb at 6th month. The medical checkup, delivery fees are a bomb.

I think for singles, to be comfortable in owning a car.. Erm, 7k is good. But for couples, combined 10k+, with small child, 14k+

Please also have 6 months of cash excess equivalent to your current pay. U never know what will happen now with the covid 19.

Honestly, don't buy lah.

 

[terence2112]

Hi bro. You have a kid or planning to have one? I suggest not to get a car. 5.5k, you bring back about 4.4k and using this to support your family, and also your parents.

I am 31, earning 9.8k, bring back 8.6k.Wife, 36, earns about 6.2k, she bring back 5k. But even with our income, we feel its not enough. I bought a BMW, paying about 850, but I wish that I didn't buy this car and invested more on my son instead.

Roughly my breakdown:
Parents, 800,
household 2k,
wife 500,
Car 850,
Diesel 80 (rarely drive as I work from home) only top up like once every month for full talk.
Investment 1000 (mid risk)
Insurance 700(paying for my wife, kid and myself)
Some insurance savings plan 300 (low risk)
Top up cpf OA 200-400(See mood but min 200), I top up just in case I kanna fire at least my house loan can be service.
Top up child CDE 500
School loan 330
Others misc dunno how much

I know my expenses about 7k+ monthly, which leaves me about 1.5k. Even with 1.5k excess, I still feel not enough. At 5.5k, I suggest better not. Once u have a kid, you will feel the strain staring from when he's in your wife womb at 6th month. The medical checkup, delivery fees are a bomb.

I think for singles, to be comfortable in owning a car.. Erm, 7k is good. But for couples, combined 10k+, with small child, 14k+

Please also have 6 months of cash excess equivalent to your current pay. U never know what will happen now with the covid 19.

Honestly, don't buy lah.

You have a privellage life. Just that if I were you, taking home 8k plus every month, I sure won’t have this problem.

 

[tortoise18]

Hey bro, do you mind breaking down your expenses? Family of 1, own a car and have house to your own and still able to save $900 a month is king. How about your own insurance? Car all in per month how much? You do hitch or anything to cover your expenses on car?

I'm keen to know too! I earn $4.8k but still wonder to buy car or not. I travel around for work daily, grab cost about $40.