Can you afford a car?

[kelvinti]

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.

Basically! Date a rich girl to be your rich wife! Simple!

For your info. My girl is earning more than me but as a man! I cannot ask her to pay my downpayment first lor! Lose face and probably she would run away from me to date another new bf after asking..!

 

[mcspiky]

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.

This is a very good advice. Sorry but 6.2K salary I think is not enough in the long run especially if you are planning to settle in the future (wife + kids)
Just save that 1.8k potential car expense for your future plans. Owning a car in Singapore is a ALWAYS a financial lose... I just have a car because I WANT IT but I just leave less than 15 minutes to my workplace so technically, I have an option to just wake up much earlier and ride a public transportation. Not to brag but I'm earning waaay more than you but I still feel the pinch every month whenever the bank deducts the car loan.

You are still young, just enjoy life first with your savings.

 

[kelvinti]

Folks,

With the latest Cat A COE at about $93+K.

Is a brand new 2022 Toyota Raize 1.2G Hybrid worth $165K with guaranteed one bid COE?

 

[gnoes85]

Folks,

With the latest Cat A COE at about $93+K.

Is a brand new 2022 Toyota Raize 1.2G Hybrid worth $165K with guaranteed one bid COE?

U must be joking

 

[kelvinti]

U must be joking

Got your answer!

 

[tohchr]

Folks,

With the latest Cat A COE at about $93+K.

Is a brand new 2022 Toyota Raize 1.2G Hybrid worth $165K with guaranteed one bid COE?

Nope. I rather get an BYD EV with that price point.

 

[kelvinti]

Nope. I rather get an BYD EV with that price point.

Yes. Really not wroth it. On the other hand. I'm not ready for a full EV yet.

I may consider a pre-owned 2020/2021/2022 Avante 1.6A variant instead. Love its design inside out.

 

[tohchr]

Yes. Really not wroth it. On the other hand. I'm not ready for a full EV yet.

I may consider a pre-owned 2020/2021/2022 Avante 1.6A variant instead. Love its design inside out.

U should try an EV out..

 

[Haeresis]

Hi All, I am looking to get my first 2nd hand car and I am deliberating between this 2 cars.
would like to buy a 2nd hand and see if few years down the road COE will be cheaper anot.
would like to seek all expert advice if which is a better choice. Thanks all.

https://m.sgcarmart.com/used_cars/finance.php?ID=1280615

https://www.sgcarmart.com/used_cars/info.php?ID=1282823&DL=4398

 

[kelvinti]

U should try an EV out..

I understand what do you mean as we are moving towards EV...

I have my budget and I have just booked a pre-owned 2021 CN7 S this morning. I really like the bold, extreme exterior design and as well as the interior of this car rather then the popular Corolla Altis or Honda Civic in this segment and at the price point of pre-owned.

I have been driving a 2015 Mazda 6 2.0 Exec for 9 years now, which cost about $146K back in 2015 and its COE left with 1 year to go. New 10 years COE car is blxxdy high now and I don't intent or even if I can afford, but a big no no to pay so much for a car.

The CN7 S with 7 years COE to go fits my budget nicely!

 

[Haeresis]

I understand what do you mean as we are moving towards EV...

I have my budget and I have just booked a pre-owned 2021 CN7 S this morning. I really like the bold, extreme exterior design and as well as the interior of this car rather then the popular Corolla Altis or Honda Civic in this segment and at the price point of pre-owned.

I have been driving a 2015 Mazda 6 2.0 Exec for 9 years now, which cost about $146K back in 2015 and its COE left with 1 year to go. New 10 years COE car is blxxdy high now and I don't intent to pay so much for a car.

The CN7 with 7 years COE to go fits my budget nicely!

Hi can I check how much did you pay for your new car? Thanks

 

[kelvinti]

Hi can I check how much did you pay for your new car? Thanks

It's a mid 2021 CN7 S. $106K with 36K mileage clocked by previous single owner. Road tax is $742 per year.

So, after paying the 30% down-payment. I pay about $1060 per month for the rest of the 70% - 7 years loan.

 

[Haeresis]

It's a mid 2021 CN7 S. $106K with 36K mileage clocked by previous single owner. Road tax is $742 per year.

So, after paying the 30% down-payment. I pay about $1060 per month for the rest of the 70% - 7 years loan.

I see, which dealer did you get it from? Is there any other hidden fee or discount if you use their loan etc?

paiseh cause first time wanna buy 2nd hand car.

 

[kelvinti]

I see, which dealer did you get it from? Is there any other hidden fee or discount if you use their loan etc?

paiseh cause first time wanna buy 2nd hand car.

Oh! Talk about it. I was pleasantly surprise that my dealer doesn't change any admin fee which can be ranging from $500 to $1000.

All figures I need to pay is all based on the pure down-payment and loan payment figures. No other fees.

If you want. I can pm you my dealer.

 

[Haeresis]

Oh! Talk about it. I was pleasantly surprise that my dealer doesn't change any admin fee which can be ranging from $500 to $1000.

All figures I need to pay is all based on the pure down-payment and loan payment figures. No other fees.

If you want. I can pm you my dealer.

Can pm me thanks!

and the figure is already inclusive of gst right? The transfer was immediate after the down payment?

 

[kelvinti]

Can pm me thanks!

and the figure is already inclusive of gst right? The transfer was immediate after the down payment?

No GST. I think so also. Coz no GST figures are being written on my booking or cost breakdown black and white.

My dealer stated what you see now is what you going to pay. No other fees but I know for certain there is no admin free as he purposely confirmed it.

All the previous dealers I met wrote down GST and admin fess figure in black and white for the cost breakdown.

I will pm you my dealer.

 

[kelvinti]

Can pm me thanks!

and the figure is already inclusive of gst right? The transfer was immediate after the down payment?

PMed you my dealer already.

 

[HOHOHO!]

It's a mid 2021 CN7 S. $106K with 36K mileage clocked by previous single owner. Road tax is $742 per year.

So, after paying the 30% down-payment. I pay about $1060 per month for the rest of the 70% - 7 years loan.

The price looks good. Can PM me your dealer?

 

[kelvinti]

The price looks good. Can PM me your dealer?

Sure. Check your pm.

 

[ashketchum]

7.2kpm. Single 30M, no commitments. No plan to settle down soon. OK to get PARF car?