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Monthly Damages of Owning a Triple S (Suzuki Swift Sport)

Bonjoey

By Bonjoey,
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Weixiang_06

Weixiang_06

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There is nothing morally wrong to buy a car by paying on her own at that level of income.

It's just not prudent financially, almost financially inept to do so.

 

 

actually, i am just dead curious... can TS share with us how much his annual income is?

 

hitting >$50k with bonuses? for me, its belowblush.gif i am just a typical singaporean.... [shakehead]

 

and can he project his future salary scale and etc? if he could, then by all means flowerface.gif

Edited by Weixiang_06
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Weixiang_06

Weixiang_06

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Only u r most sure of your own financial status. Maybe u have a job with good potential for fast promotion, large annual increments or fat bonuses, so just because today u barely can afford a car (I only guessing+assuming hor, no offense) does not mean u will still be in this situation 2 years later. So u can always buy the car now and as your salary goes up through the years u find it easier to maintain your car...or u can play safe and save more $ and salary go up 1st then buy car.

 

I don't think you should be advising TS to buy a car based upon future earnings. It's dangerous. If at current levels he is unable to get a car and have to resort to 10 year loan to get a car, he should simply not get one.

 

Like I say, only he can know his own financial status. What if he is a scholar with a govt agency that just started work after his PHD in MIT? He will not have much savings as he just start work so he go for 10 years loan, but he also have a good career potential.

 

Wah kao! how you know!!!

 

 

no lah..I tok BULL one... [knife][laugh]

 

 

but close lah...close....

 

wah so u are a civil scholar indeed.. then [laugh] by all means, go ahead and purchase!

 

are you by any means a SAF scholar? [sly]

Edited by Weixiang_06
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Bonjoey

Bonjoey

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haha...first of all, thank you jiejie [;)]

 

but ....i think maybe u do not fully know the situation bah [:/] ...the thread was more abt knowing the additional costs like monthly carpark and insurance etc...

 

and not knowing the pros and cons of a 10 year loan compared to a 7 year loan and in the end choosing the 10 year option does not mean ONE is not ready financially bah [laugh] ...maybe just un-informed abt the financial aspects of the car loan system in SG...did not say I "can ONLY put 5k downpayment" wor... [laugh]

 

but its ok...i still thank you for ur advice... [thumbsup]

 

maybe u wanna jalan-jalan with me in ur ride? [sly]

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Weixiang_06

Weixiang_06

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i think you are a civil scholar.... [sly]

 

working in RSAF? they pay Air Engineering Officers really well, $3.8-$4.2k for fresh graduates. [jawdrop]

 

or even better, working in MAS? the scholars' pays are really [jawdrop]

 

so if you had signed ur bond with that, i really think you can go ahead and buy one

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Weixiang_06

Weixiang_06

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why did i say that? coz last time when i was serving in army, there was this EDB scholar who went to Japan to study Economics, and he is bonded to MAS's foreign investment branch..

 

that time when he came back to army to serve his remaining NS lability, he was alreadie thinking of buying a VW beetle... that was way back in 2003, where a beetle easily cost >$100k...

 

[jawdrop]

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Bonjoey

Bonjoey

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No No wor...did not say so wor...haha [laugh] ...dun make wild guesses [rifle] and please all dun digress from the main topic ...hehe.. [;)]

 

I will take this opportunity to thank ALL of YOU [thumbsup][thumbsup][thumbsup] in this tread who have been very helpful and informative and also encouraging in sharing your advice and experiences and answering my endless "Tor Hwee" questions. [wave][wave][wave]

 

 

 

 

PS: and no disclosing of annual income wor...I think no one will do that right? [laugh]

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Bonjoey

Bonjoey

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no lah bro, not meant to be offensive just stating each other perspective.

 

 

yeah...i know...i just scared wait u all buay song each other and "fight" [rifle] ...then i really will be sorry liaoz...

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Weixiang_06

Weixiang_06

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just kidding.. [sly][laugh] but then that "disrupted" scholar was earning really [jawdrop] money in MAS as a scholar foreign investment officer... [jawdrop]

Edited by Weixiang_06
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Osiris

Osiris

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haha...first of all, thank you jiejie wink.gif

 

but ....i think maybe u do not fully know the situation bah unsure.gif ...the thread was more abt knowing the additional costs like monthly carpark and insurance etc...

 

and not knowing the pros and cons of a 10 year loan compared to a 7 year loan and in the end choosing the 10 year option does not mean ONE is not ready financially bah laugh.gif ...maybe just un-informed abt the financial aspects of the car loan system in SG...did not say I "can ONLY put 5k downpayment" wor... laugh.gif

 

but its ok...i still thank you for ur advice... thumbsup.gif

 

maybe u wanna jalan-jalan with me in ur ride? sly.gif

 

 

alamak then different story liao.

 

then u should really find and read the cost of ownership thread

 

Other cost includes the

servicing, change parts like tyres, brake pads, wipers, timing belt.

car grooming cost, minor repairs like dent, rims, spray painting, accessories for cars

 

Then u have the poison category. ICE, Guages, parts upgrades, vinyls.

Edited by Osiris
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Sgkingkong

Sgkingkong

Neutral Newbie

I understand your feelings. Buying car is like a dream and now, it's finally coming true although you have to stretch slightly. It's a battle of the heart vesus the mind.

 

When I bought my first ride in 2003 (a Lancer 1.5 GDI), I really did up a lot of sums and finally decided on it over a couple of other because it's relatively cheap... It was a stretch, but a rather low risk one. I paid about 20% and took a 7 year loan, bringing the installment to about $850 per month... I was quite please with it then but sold it in less than 3 years...

 

My current ride (bought in 2005) was a huge huge stretch, and one that is very risky... I paid about 10% upfront and took a 7 year loan, making my monthly installment a wooping $1800... I initaily ask for a 10 year loan which means my installment would be about $1200 but decided to change to 7 years and the impact in more manageable I could survive if I am force to sell the car in 3 years (for 10 years loan, i calculated that the top up after 3 years would be about $60k and I would be in deep trouble if it happens)...

 

My point is... plan not just for the good times, but also the rainy times. We can follow our hearts sometime, but make sure we have a rope to cling on in the worst scenario.

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Vollov

Vollov

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fwah...your appetite for risk is very very high....I would do 1.8k a mth only if I can clear everything in 3 yrs, no longer than that. the amount you must be paying in interest must be enough to buy a QQ already.

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Blues

Blues

Neutral Newbie

personally, i've been thru stages with car and without car

 

for me, without car, life is care-free. not in hurry, then take bus & mrt. rushing to go somewhere, get a taxi. really don't want to waste time waiting, then call for taxi-booking.

 

this is good becoz my money is with me until i need to spend it

 

owning a car means that i have to set aside a fixed amount each month, definitely much money $ compared to taking taxi everyday becoz there is the car loan, petrol, parking, erp, car manitenance and touch-wood emergency money for that unexpected body work should there be an accident

 

of course, owning a car makes going places very convenient, just drive and go, hardly need to 'think' & plan what bus/mrt/taxi to take

 

in addition, can carry more things any time, unlike when without a car, anything i bring or buy is limited becoz even with taxi, there is no storage space until i get into the taxi

 

but then again, in spore, parking space is so precious, drive to popular places, always worry cannot find a parking lot

 

this is not a problem if i don't have a car, just take bus/mrt/taxi there

 

only thing is return journey, bus/mrt/taxi all very crowded or long-wait (e.g. orchard road)

 

conclusion - in spore becoz land is so scarce, either without or without car, plenty of pros and cons

 

and some things come with car, e.g. when need arise, give ride to friends, colleagues etc and people hardly ever offer to pay for parking etc, even if they did, chances are car owners say no-need to save face

 

Ok, you may say these are small things, but let's face it, they add up

 

owning car is a lifestyle, trying to balance (justify/reason) the $ part and my conclusion is always, better not buy car

 

unless the intangible benefit is very strong for car owner, becoz it feels good & cool to have ride of your choice [:)]

 

just my 2 cts, no offence to anyone

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Bonjoey

Bonjoey

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you make good sense too...and its precisely the pros of having car and cons of not having one that you mentioned that made me wanna have a car...hehe [:)]

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