- Nov 5, 2000
- Reaction score
I begin to look at this loan at a different angle.
Yes interest maybe high at 4.58%
But if grab still exists for the next 10 years... if i drive enough to cover monthly installment on a pt basis without touching my ft job salary. In theory the car is ‘free’
Just need to top up from my salary to pay for annual insurance + road tax,season parking, petrol as well as servicing... if i dun have car i still need to take public transport right? Also cost money ...
$2500 (ins) + $684 (road tax) / 12 months = $265 per mth
$265 (above) + $110 (season parking) + $240 (petrol - i pump once a week now) =
Consider $615 as monthly transportation cost + convenience...
Servicing also no more monthly probably every 4-6 mths liao since not driving ft.
The car is never free.
You're still driving to get paid, and in theory, you're working. Spending time not of your own.
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