Can you afford a car?

[myviowner]

Any insights on COE for new car projection for the next 3 months?

Lolz... you asks this there?

 

[vaxvms]

many huat from crypto trading

so coe high or low they just hoot hoot hoot

 

[AlyssaGoh]

Hi Everyone

I just passed my driving test last year. I wanted to get a car but not sure what are the expenses. I found this YouTube video. Can someone let me know whether the computation is correct? Is it worth getting a higher cc car? For more comfort and safety? Thinking of > 2000cc but the road tax seems much more expensive. Will insurance company insure me? or the premium will be much higher? Thinking of maybe buying next year if insurance doesn't make sense.

 

[batniss]

Hi Everyone

I just passed my driving test last year. I wanted to get a car but not sure what are the expenses. I found this YouTube video. Can someone let me know whether the computation is correct? Is it worth getting a higher cc car? For more comfort and safety? Thinking of > 2000cc but the road tax seems much more expensive. Will insurance company insure me? or the premium will be much higher? Thinking of maybe buying next year if insurance doesn't make sense.

if you can afford of course a higher cc more shiok

if costs are a concern, lower cc better or get those conti car with small cc but high torque (with turbo). Road tax are cheap for vehicles like these too

 

[PsyClick]

Hi Everyone

I just passed my driving test last year. I wanted to get a car but not sure what are the expenses. I found this YouTube video. Can someone let me know whether the computation is correct? Is it worth getting a higher cc car? For more comfort and safety? Thinking of > 2000cc but the road tax seems much more expensive. Will insurance company insure me? or the premium will be much higher? Thinking of maybe buying next year if insurance doesn't make sense.

Maybe you should state the model of the car you looking at and see if anyone can share their insurance premiums.

For breakdown of the costs... You should be prudent and do more research. Ask your friends to share experience with you.

But since you just passed your test, assume the premiums are very expensive without discounts. The general guideline is, higher the cc the higher the cost of everything (including insurance premiums). Insurers won't really reject you unless you have bad record, but definitely will charge you premium for being a new bird with a dangerous high cc car.

Regarding comfort and safety, IMO its not correlated to cc. Best you test drive to gauge yourself.

 

[myviowner]

Hi Everyone

I just passed my driving test last year. I wanted to get a car but not sure what are the expenses. I found this YouTube video. Can someone let me know whether the computation is correct? Is it worth getting a higher cc car? For more comfort and safety? Thinking of > 2000cc but the road tax seems much more expensive. Will insurance company insure me? or the premium will be much higher? Thinking of maybe buying next year if insurance doesn't make sense.

1. What's your balance $$ after all your expenses, monthly.
2. In case you lost your income for over 12mths, can you still able to service the car loans(In case you took up), on top of all other expenses.
3. Always start something small first. Then you progress from time to time. For accumulations of driving and related expenses... maintenance fee.....etc

Good luck!

 

[Kim1972]

Hi Everyone

I just passed my driving test last year. I wanted to get a car but not sure what are the expenses. I found this YouTube video. Can someone let me know whether the computation is correct? Is it worth getting a higher cc car? For more comfort and safety? Thinking of > 2000cc but the road tax seems much more expensive. Will insurance company insure me? or the premium will be much higher? Thinking of maybe buying next year if insurance doesn't make sense.

Higher cc cars does not necessary mean it is safe. Its the driver that makes it safe, not the car.

 

[AlyssaGoh]

Thanks for the info. Let me think about it.

 

[EJB]

Thanks for the info. Let me think about it.

Calculating expenses to justify the car will likely just result in a deafening 'Not worth it' kind of finding.

As long as you can clear the monthly instalments comfortably, just go for it. The expenses will fall into place itself as you go along. Nobody does a 360 calculation of everything then divide months of ownership to see the monthly payable.

Nobody 's going to divide road tax and insurance premium over 12 months and save up monthly / set it aside for one time payment.

That said, of course if you have lousy finance management, don't get a car.

 

[nydeidith]

if need to calculate a lot....then means cant comfortably afford car....maybe will bring you more stress....ideally dont need to take loan or minimal loan....and dont need to worry (or think twice) about things like road tax, parking, toll, fuel...otherwise might be better off save your money and buy when more comfortable...

 

[myviowner]

if need to calculate a lot....then means cant comfortably afford car....maybe will bring you more stress....ideally dont need to take loan or minimal loan....and dont need to worry (or think twice) about things like road tax, parking, toll, fuel...otherwise might be better off save your money and buy when more comfortable...

Majority of sinkie work this way to start with to determine if they can afford a car. Love to calculate and compare, this is the culture, driven by SG cars most expensive in the world?

 

[mel1888]

if need to calculate a lot....then means cant comfortably afford car....maybe will bring you more stress....ideally dont need to take loan or minimal loan....and dont need to worry (or think twice) about things like road tax, parking, toll, fuel...otherwise might be better off save your money and buy when more comfortable...

When i bought my first car, I did alot of calculations to determine the costs. Even till today, i still do calculations altho only the major car stuff. Unfortunately, I am not in such a comfortable position to walk into Ferrari and drive off with one without asking the price. Doing yr sums is a prudent way for financial planning.

 

[EJB]

Majority of sinkie work this way to start with to determine if they can afford a car. Love to calculate and compare, this is the culture, driven by SG cars most expensive in the world?

After calculations, you're looking at setting aside $2.5K /mth for everything.

Who sets aside that amount for car monthly? LOL...

Everybody just looks @ instalment - can? If can, proceed. If cannot, don't. Everything else like road tax is known 6mths ahead, just prepare to pay the additional on the 6th month. Parking is monthly, running cost, petrol too, offset by your travelling bus/MRT fares + top up. All these will fall into place, no need think so far.

When i bought my first car, I did alot of calculations to determine the costs. Even till today, i still do calculations altho only the major car stuff. Unfortunately, I am not in such a comfortable position to walk into Ferrari and drive off with one without asking the price. Doing yr sums is a prudent way for financial planning.

As above, monthly comfortable, I go liao. Somehow, you will find the cash for the misc as time goes by. Calculating & saving upfront is not possible.

 

[sinicker]

1st time come into this sticky thread.

just buy lah. Lawrence Wong say everyone will tio COVID. buy and enjoy.

still want to take bus/MRT?

 

[chichichacha]

I just want an affordable car that can do the job

 

[myviowner]

I just want an affordable car that can do the job

Also depends how deep your pocket.

 

[Skimmerx]

I just want an affordable car that can do the job

Attrage enough said

 

[GGGGGG]

Expect crazy crowds at car showrooms this weekend with the recent news article on drop in COE quota!

 

[Kia7200]

Expect crazy crowds at car showrooms this weekend with the recent news article on drop in COE quota!

Too late liao la

 

[curious_moo]

CEO bid usually active during the last hour?