Can you afford a car?

[AudiA6]

I most definately cannot afford a car. My pay is horrible. Besides.... i dun even have a licence.

 

[Expert]

i wouldnt mind paying for a car, it's my passion..

but, i wouldnt buy new cars.. depreciation kills for the first 2years..

 

[magnifico]

how to actually define can or cannot afford? seems like alot of ppl work e calculations and not advisable to own unless earn 5k abv? but i also hav frens wif 2.5k salary buying civics. how is tat possible ah?

 

[blah]

how to actually define can or cannot afford? seems like alot of ppl work e calculations and not advisable to own unless earn 5k abv? but i also hav frens wif 2.5k salary buying civics. how is tat possible ah?

I answered this in my original posting.

 

[suakukia]

and u r AudiA6

how ironic for his nick...

 

[small_boy]

if u have 10 million in yr bank you can well afford a lamborghini or ferrari

 

[small_boy]

even ppl who are delivery drivers can afford a car...what do u think

 

[magnifico]

I answered this in my original posting.

i 4got to add on...for those frens earning 2.5... they'r not gettin help frm family..neither r they bleedin dry..tis is e amazin yet bewildering part...

 

[Silkworm]

^ maybe your 2.5 frens are doing sidelines... like bookie or loan shark runner. they earn alot

 

[xspace]

Now that i re-read this thread.. quite refreshing...

 

[blah]

i 4got to add on...for those frens earning 2.5... they'r not gettin help frm family..neither r they bleedin dry..tis is e amazin yet bewildering part...

IF you are single and have no family commitments, IF you are living with parents, IF you don't contribute to parents or upkeep of home, IF you don't save or invest, IF you take a large/long term loan so that your monthly repayments are (relatively) low, IF you otherwise life frugally, IF you don't mind not being able to sell your car because you have no money to repay the bank loan, then 2.5k is probably enough to own a car.

Its nothing amazing or bewildering. What is amazing or bewildering is that you have access to your friend's bank statements to come to the conclusions that you have made about your friend's personal financial situation. Why not poke around a little bit before you come to that conclusion. Do they have any outstanding overdraft facilities? Rolling over credit card debt? What is the extent of negative equity on their car? How much savings do they have after x years of working? What is the dollar value of the free accomodation, food, utilities, mortgage payments which their parents are picking up?

 

[Cyberbaby]

As long the bank approved the loan amount, I do not see why not.

 

[alanchia67]

As long the bank approved the loan amount, I do not see why not.

loan is one part of the equation, but you need to balance the other side - do you have the capability to continue to service the loan for the stated duration no matter what happens?

 

[devilish_me]

actually..i know of a lot of people who are earning just $2+K & driving cars...to me, it's quite ridiculous lor...really ta zhong lian pi cong pang zi (i.e. beat the face until swollen so as to look fat!).

 

[xspace]

actually..i know of a lot of people who are earning just $2+K & driving cars...to me, it's quite ridiculous lor...really ta zhong lian pi cong pang zi (i.e. beat the face until swollen so as to look fat!).

Very Gang Ko man!!!

 

[coolfire]

IF you are single and have no family commitments, IF you are living with parents, IF you don't contribute to parents or upkeep of home, IF you don't save or invest, IF you take a large/long term loan so that your monthly repayments are (relatively) low, IF you otherwise life frugally, IF you don't mind not being able to sell your car because you have no money to repay the bank loan, then 2.5k is probably enough to own a car.

Its nothing amazing or bewildering. What is amazing or bewildering is that you have access to your friend's bank statements to come to the conclusions that you have made about your friend's personal financial situation. Why not poke around a little bit before you come to that conclusion. Do they have any outstanding overdraft facilities? Rolling over credit card debt? What is the extent of negative equity on their car? How much savings do they have after x years of working? What is the dollar value of the free accomodation, food, utilities, mortgage payments which their parents are picking up?

Amen... How very true...

 

[GR_Benji]

Cars are expensive in sg but I believe they are still not expensive enough. There are still room to make car ownership and use more costly. What's the point of everyone owning one but can barely move on the road?

 

[weng]

Cars are expensive in sg but I believe they are still not expensive enough. There are still room to make car ownership and use more costly. What's the point of everyone owning one but can barely move on the road?

yes.. go back to 100k for a corolla and max 7yrs loan and there won't really be much need for ERP...

 

[alanchia67]

yes.. go back to 100k for a corolla and max 7yrs loan and there won't really be much need for ERP...

that's when COE is about 50K right?

 

[weng]

that's when COE is about 50K right?

think so... i only know that time a civic SiR was 110k... pengz...

serious. if a picanto is 80k and a corolla is 100k, i think pple will be more "down-to-earth". lesser dare-devils, hopefully fewer accidents, and smoother roads.