Is it better to buy or lease a car now given high COE prices??

[virtualape]

I think so until I see the grab per trip cost easily $16 to $36 price fluctuations and I need at least 4 trips daily

If you can cut down to 2 trips, you probably save. Imagine saving around $40 daily...can eat many caipng with fish

 

[Unic0rn]

If you can cut down to 2 trips, you probably save. Imagine saving around $40 daily...can eat many caipng with fish

I can’t, have to go from home to point A to office to point B to home .

 

[virtualape]

I can’t, have to go from home to point A to office to point B to home .

eliminate mistress A. Keep mistress b so you can happy after work then go home.

 

[lovemyself123]

Any market expert can advice?

Given the high COE prices now and I have a need for a family car for the next 2-3 years

Better to keep your money in bank now

recession is here

 

[inmyopinion]

Any market expert can advice?

Given the high COE prices now and I have a need for a family car for the next 2-3 years

The ones working in leasing company are also like those scholars working in the G sector.

They are also the ones who are bidding high COEs because they need to renew their fleet of cars.

Eg. Car "A" depreciation is 18K/yr.
They rent out Car A at $100 per day, One month $3K. One year 36K/yr
Note: You can check with those who drives PHV. Rental per day.

Yes, they cover maintenance blah blah.. blah..

U look at how much they make. After 5 yrs, u already helped them depreciate everything. Whatever they sell is Huat ah!

 

[sglandscape]

Yea… leasing is just a workaround for those who cannot tank the 30% DP.

Best is tank 100% then borrow mortgage, or cheap balance transfer also better than auto loan at 4%

 

[Unic0rn]

eliminate mistress A. Keep mistress b so you can happy after work then go home.

A send kids to school and B is after work go gym

 

[Acetone]

Best is tank 100% then borrow mortgage, or cheap balance transfer also better than auto loan at 4%

Actually car loan EIR is closer to 5.5% or so, those living hand to mouth but die die want car sure eat bread every day.

 

[recca38]

Will COE tank this Wednesday !

 

[phunkynerd]

I have a need for a family car too for the next 4 to 6 years! I’m looking at Toyota Camry 2.5L but quite attractive to BMW 3 series

just booked a Camry recently. According to the Sales Exec, Borneo Motors has some special discounts on some units. If you know of any Sales, can check with them.

 

[coyote]

Any market expert can advice?

Given the high COE prices now and I have a need for a family car for the next 2-3 years

If some one lease you a car, he has to make profit after what he paid for his car, coe and others. So you will definitely pay more than buying a car yourself. What do you think?

 

[Teyemittisi]

Heard electric cars are very cheap and monthly electric bill only abt $90. Can someone validate that?

 

[coyote]

Heard electric cars are very cheap and monthly electric bill only abt $90. Can someone validate that?

Few years later when you tried to sell your ev, you'll find you lost more money in the car value than you saved from the electricity.

 

[Teyemittisi]

Few years later when you tried to sell your ev, you'll find you lost more money in the car value than you saved from the electricity.

Did a scenario analysis using chatgpt. Not an apple to apple comparison. But from several owners , it seems a byd ev shows significant savings compared against a bmw or Mercedes over 10 years especially if you have the infrastructure to install a charger at home.

 

[koster]

Did a scenario analysis using chatgpt. Not an apple to apple comparison. But from several owners , it seems a byd ev shows significant savings compared against a bmw or Mercedes over 10 years especially if you have the infrastructure to install a charger at home.

The ability to start a convo, the instant torque and features as an EV owner is priceless bro.

 

[Teyemittisi]

The ability to start a convo, the instant torque and features as an EV owner is priceless bro.

Can share your experience In terms of value and cost maintenance? And which model you driving?

 

[coyote]

Did a scenario analysis using chatgpt. Not an apple to apple comparison. But from several owners , it seems a byd ev shows significant savings compared against a bmw or Mercedes over 10 years especially if you have the infrastructure to install a charger at home.

Won't using the free chargers in public area save more money(electricity) than having a charger yourself?

 

[koster]

Can share your experience In terms of value and cost maintenance? And which model you driving?

I hearsay one.

 

[Teyemittisi]

Won't using the free chargers in public area save more money(electricity) than having a charger yourself?

From chatgpt again “ Home charging is significantly more cost-efficient over the long run—up to 20–30% savings compared to public charging.” This is after factoring in the installation costa

 

[coyote]

From chatgpt again “ Home charging is significantly more cost-efficient over the long run—up to 20–30% savings compared to public charging.” This is after factoring in the installation costa

Please ask chatgpt to elaborate further. For public chargers, the installation cost are born by hdb or the mcst. So the cost is zero for hdb dwellers and certain amount of cost shared by residents in the condo. The electricity charges are born by hdb and mcst again for public charges. Given the above both cases, there's no reason installing chargers and using your own electricity being cheaper compared to charging on public chargers. You had better ask chatgpt to clarify instead of accepting what it said without questioning it's reasoning.