Can you afford a car?

[RyanJ]

How do you do that?

I thought government require downpayment?

loans from bank are tightly regulated, in-house loans less so but higher interest rates, the later also does not affect TDSR ...

 

[micromousez]

How do you do that?

I thought government require downpayment?

U walk into AD or PI n u will know.
They are the one can do it if buyer need it

 

[MrHuatster]

What would be the cheapest new car to buy now?

 

[DevilPlate]

What would be the cheapest new car to buy now?

PI Raize
Nissan Note
Honda City

 

[Daty41]

even if car is free...petrol, carpark, season parking, ERP is already $500 (mine is closer to $800) per month.

Only those working a few years, with a decent salary, good grades and bonuses (at a good company, maybe get $20-30k each time, $5k basic with average 4 months to 6 months bonus) that never spend all on holidays, can afford to buy a simple car, drive it regularly and maintain it. If dont earn as much, target 2nd hand COE cars... but the monthly cost still the same...with higher maintenance cost

 

[mcspiky]

I don't buy large amount of rice and food just to afford a car...
Sometimes I skip even lunch for my fuel money.
life is hard.

 

[reddevil0728]

I don't buy large amount of rice and food just to afford a car...
Sometimes I skip even lunch for my fuel money.
life is hard.

Priorities….

 

[Ensure4613]

Hi everyone,

I'm a 26-year-old fresh grad, recently started working, and I'm facing a bit of a dilemma about getting a car. I'm earning a gross of about 6.2k, and due to the nature of my job (I've signed on, and I'm aware of the mixed views on this), I find myself needing to travel to various, often remote, locations, especially those ulu camps, that aren't easily accessible by public transport. Theoretically I could just have better discipline and wake up earlier, and cab at times, which is why I am geniunely looking for advice if buying a car now is right for me.

I come from a background where owning a car was never an option, family doesn't have much and never owned a car thus I don't really have much avenue for advice. When it comes to my friends, my friends are constantly encouraging me to get one. (don't know is it so that I can fetch them around during group outings).

Given these circumstances, I'm leaning towards getting a second-hand Toyota, considering their reputation for reliability. But here's where I need your wisdom:

1. Given my situation (job requirement vs. financial consideration), does buying a car make sense?
2. Are second-hand Toyotas my best option, or should I be looking at other makes/models?
3. Any advice on managing car ownership costs as a fresh grad would be greatly appreciated.

I'm genuinely seeking advice as this is uncharted territory for me and a decision I don't want to take lightly. Thanks in advance for your insights and suggestions!

 

[LWZ]

Hi everyone,

I'm a 26-year-old fresh grad, recently started working, and I'm facing a bit of a dilemma about getting a car. I'm earning a gross of about 6.2k, and due to the nature of my job (I've signed on, and I'm aware of the mixed views on this), I find myself needing to travel to various, often remote, locations, especially those ulu camps, that aren't easily accessible by public transport. Theoretically I could just have better discipline and wake up earlier, and cab at times, which is why I am geniunely looking for advice if buying a car now is right for me.

I come from a background where owning a car was never an option, family doesn't have much and never owned a car thus I don't really have much avenue for advice. When it comes to my friends, my friends are constantly encouraging me to get one. (don't know is it so that I can fetch them around during group outings).

Given these circumstances, I'm leaning towards getting a second-hand Toyota, considering their reputation for reliability. But here's where I need your wisdom:

1. Given my situation (job requirement vs. financial consideration), does buying a car make sense?
2. Are second-hand Toyotas my best option, or should I be looking at other makes/models?
3. Any advice on managing car ownership costs as a fresh grad would be greatly appreciated.

I'm genuinely seeking advice as this is uncharted territory for me and a decision I don't want to take lightly. Thanks in advance for your insights and suggestions!

you have free parking at your workplace !

 

[Asphodeli]

Hi everyone,

I'm a 26-year-old fresh grad, recently started working, and I'm facing a bit of a dilemma about getting a car. I'm earning a gross of about 6.2k, and due to the nature of my job (I've signed on, and I'm aware of the mixed views on this), I find myself needing to travel to various, often remote, locations, especially those ulu camps, that aren't easily accessible by public transport. Theoretically I could just have better discipline and wake up earlier, and cab at times, which is why I am geniunely looking for advice if buying a car now is right for me.

I come from a background where owning a car was never an option, family doesn't have much and never owned a car thus I don't really have much avenue for advice. When it comes to my friends, my friends are constantly encouraging me to get one. (don't know is it so that I can fetch them around during group outings).

Given these circumstances, I'm leaning towards getting a second-hand Toyota, considering their reputation for reliability. But here's where I need your wisdom:

1. Given my situation (job requirement vs. financial consideration), does buying a car make sense?
2. Are second-hand Toyotas my best option, or should I be looking at other makes/models?
3. Any advice on managing car ownership costs as a fresh grad would be greatly appreciated.

I'm genuinely seeking advice as this is uncharted territory for me and a decision I don't want to take lightly. Thanks in advance for your insights and suggestions!

Try a 1 year PARF car, convert to OPC since if the timing is better for your use

 

[sinistral]

Hi everyone,

I'm a 26-year-old fresh grad, recently started working, and I'm facing a bit of a dilemma about getting a car. I'm earning a gross of about 6.2k, and due to the nature of my job (I've signed on, and I'm aware of the mixed views on this), I find myself needing to travel to various, often remote, locations, especially those ulu camps, that aren't easily accessible by public transport. Theoretically I could just have better discipline and wake up earlier, and cab at times, which is why I am geniunely looking for advice if buying a car now is right for me.

I come from a background where owning a car was never an option, family doesn't have much and never owned a car thus I don't really have much avenue for advice. When it comes to my friends, my friends are constantly encouraging me to get one. (don't know is it so that I can fetch them around during group outings).

Given these circumstances, I'm leaning towards getting a second-hand Toyota, considering their reputation for reliability. But here's where I need your wisdom:

1. Given my situation (job requirement vs. financial consideration), does buying a car make sense?
2. Are second-hand Toyotas my best option, or should I be looking at other makes/models?
3. Any advice on managing car ownership costs as a fresh grad would be greatly appreciated.

I'm genuinely seeking advice as this is uncharted territory for me and a decision I don't want to take lightly. Thanks in advance for your insights and suggestions!

Buying a car in SG has never been sensible. People buy to fulfil convenience in their life (so did I).

First car can consider 6-7 years old PARF subcompact car. This gives you a few years to learn how to maintain it. After that you can consider bigger cars if you wish. Generally, Toyotas are pretty reliable, but boring to drive. Can also consider Honda (Fit/Jazz), Mazda 2, Suzuki Swift. I would pick Mazda 2 since it comes with normal AT instead of CVT. The previous gen Swift also comes with AT. Get a stock (unmodified) car please.

In my opinion, a car should not cost you more than 20% of your current take-home salary. This excludes running costs (petrol, maintenance, ERP, parking, etc.).

Having a car also easier to date girls too. Hard truth.

 

[Ensure4613]

Big thanks for all the advice! Really appreciate all the inputs

The idea about a PARF car, especially converting to OPC for better cost efficiency, sounds much more manageable for me. Are there significant limitations on actual day to day practical usage or experiences to share?

Thinking of going for a 6-7 year old car as I completely agree with the 20% budget rule for car expenses, and then converting to OPC. Still mulling over everything, but leaning more towards getting a car now. If anyone got more tips on keeping costs down or any particular car model recommendations not mentioned, I'll be really grateful! I've not gotten to the part of choosing a specific model yet as I am still calculating out the finances but it'll definitely help a lot later. But just out of curiosity, I mean I did some research on AT and CVT, it seems like it's really more of the feel than practical difference, since I've never driven a car before, can I ask is the difference really significant?

Sadly, it is true, even during my uni days those with cars are like playing life on easy mode ... not to mention they were mostly continental cars. But bo pian, life is like that hahaha, see so many taking pocket money every month and enjoying uni life. I mean now don't really have the time to chase girls anyways, rather get my career up first.

Once again thanks a bunch for all the inputs! It really gives me more confidence in this next stage of life

 

[Asphodeli]

Big thanks for all the advice! Really appreciate all the inputs

The idea about a PARF car, especially converting to OPC for better cost efficiency, sounds much more manageable for me. Are there significant limitations on actual day to day practical usage or experiences to share?

Thinking of going for a 6-7 year old car as I completely agree with the 20% budget rule for car expenses, and then converting to OPC. Still mulling over everything, but leaning more towards getting a car now. If anyone got more tips on keeping costs down or any particular car model recommendations not mentioned, I'll be really grateful! I've not gotten to the part of choosing a specific model yet as I am still calculating out the finances but it'll definitely help a lot later. But just out of curiosity, I mean I did some research on AT and CVT, it seems like it's really more of the feel than practical difference, since I've never driven a car before, can I ask is the difference really significant?

Sadly, it is true, even during my uni days those with cars are like playing life on easy mode ... not to mention they were mostly continental cars. But bo pian, life is like that hahaha, see so many taking pocket money every month and enjoying uni life. I mean now don't really have the time to chase girls anyways, rather get my career up first.

Once again thanks a bunch for all the inputs! It really gives me more confidence in this next stage of life

Depends on your lifestyle really, if you're in the uniformed service with odd hours, an OPC 4WD might suit you better if you're driving your own car out into the restricted areas of mandai/LCK. Otherwise if you're OK with leaving your vehicle at base/camp, then just get any normal FWD/RWD car, and depending on your working hours and how often you park in base/camp, you can choose to convert to OPC.

Typically for reliability and parts availability, can't go wrong with Toyota/Honda (there is a reason why terrorists use Toyota pickups, lol). AT/CVT is really up to you, some people don't like CVT, some others don't like AT.

 

[rashcrash]

May I seek senpais here the impact of buying a car in a high COE environment? Years later we will have problem selling the car if COE price subsides right? Unless we intend to drive 10 years and take back paper value …

 

[kelvinti]

Folks, One question.

I'm projecting to drive for the next 4 to 5 years regularly between my house and work office.

So, should I get a cheaper pre-owned car with probably with about 5 years COE left or get a totally new 10 years COE car which is so much expensive?

*Not luxury, branded or conti car.

 

[babyjyo]

Folks, One question.

I'm projecting to drive for the next 4 to 5 years regularly between my house and work office.

So, should I get a cheaper pre-owned car with probably with about 5 years COE left or get a totally new 10 years COE car which is so much expensive?

*Not luxury, branded or conti car.

Generally, pre-owned cars are cheaper (when looking at the depreciation per year based on what you pay. However, there is also a luck. Pre-owned cars may have been misused or has significant parts that need to be replaced due to wear and tear. One key advantage for new cars are most repairs can be covered by warranty in the first 3-5 years.

 

[kelvinti]

Generally, pre-owned cars are cheaper (when looking at the depreciation per year based on what you pay. However, there is also a luck. Pre-owned cars may have been misused or has significant parts that need to be replaced due to wear and tear. One key advantage for new cars are most repairs can be covered by warranty in the first 3-5 years.

I guess I will just go for a brand new 10 years car for a piece of mind.

Afterall, I still can sell it at reasonable price after 4 or 5 years if I don't need the car anymore!

 

[rashcrash]

I guess I will just go for a brand new 10 years car for a piece of mind.

Afterall, I still can sell it at reasonable price after 4 or 5 years if I don't need the car anymore!

My concern will be more of if COE drops to a low level. You will see the value of your car drop drastically in the future such that it makes more sense to buy new car than yours.

that is what I am concerned about now too

 

[kelvinti]

My concern will be more of if COE drops to a low level. You will see the value of your car drop drastically in the future such that it makes more sense to buy new car than yours.

that is what I am concerned about now too

Ya! That's the concern provided if I wanna sell my new car prematurely! If not, that will not be issue if I wanna use up to the full 10 years.

 

[gnoes85]

Big thanks for all the advice! Really appreciate all the inputs

The idea about a PARF car, especially converting to OPC for better cost efficiency, sounds much more manageable for me. Are there significant limitations on actual day to day practical usage or experiences to share?

Thinking of going for a 6-7 year old car as I completely agree with the 20% budget rule for car expenses, and then converting to OPC. Still mulling over everything, but leaning more towards getting a car now. If anyone got more tips on keeping costs down or any particular car model recommendations not mentioned, I'll be really grateful! I've not gotten to the part of choosing a specific model yet as I am still calculating out the finances but it'll definitely help a lot later. But just out of curiosity, I mean I did some research on AT and CVT, it seems like it's really more of the feel than practical difference, since I've never driven a car before, can I ask is the difference really significant?

Sadly, it is true, even during my uni days those with cars are like playing life on easy mode ... not to mention they were mostly continental cars. But bo pian, life is like that hahaha, see so many taking pocket money every month and enjoying uni life. I mean now don't really have the time to chase girls anyways, rather get my career up first.

Once again thanks a bunch for all the inputs! It really gives me more confidence in this next stage of life

7 years parf car average around 110k. So about 35k downpayment with monthly payment of 1k just for the car. Rest of the expenses add up average around 800 (assume u new driver so higher insurance).
So 1 month already 1.8k gone....at least.
Can u afford it? Barely. Lifestyle wise is it worth it, absolutely. Financially wise is it worth it? Definitely not. U may not need much savings now but trust me, down the road all the big ticket items will come like dating, marriage, house, reno, kid, maid/helper, healthcare etc.
Make sure u get a good gf/wife that willing to share the financial burden with u.