My Monthly Expense on my car as a % of my Montly Income

[Friendstar]

is it worth it?

 

sighz

 

the never ending chase for a better car

[Friendstar]

many 0% loan.

 

so monthly is much cheaper.

[Ldawn88]

really that many 0% loan?

[Teriyaki]

Installment 420

Petrol 825

Road tax 76

Insurance 50

Cashcard Usage 150

Season parking 245

 

Total : $1,766 excl. maintenance and modifications.

 

And excl. summons, fines.

[Nighthawkcity]

its never worth it for buying car, especially in singapore..

especially after this thread..

 

there is a reason for changing car this time, my civic will be at least 5 to 10 yrs..

[Manutd]

Agree with u lah. But ppl still buying and changing cars .

[Nighthawkcity]

serious.. so you are making 10k at least to 15k.. since a car most prob need abt 1.5k to 2k of expenses monthly..

When the car is fully paid, the monthly expense can likely be less than 1k a month.

Of course, what you said is also a possibility.

 

to make 10k monthly, its a less few.. normal pay ranges from 3k to 8k i would say..

 

10k would be someone who is a professional or upper/senior management

[Nighthawkcity]

really have to drive 10 yrs?? haha.. hence the gauge is min 5 yrs to 10 yrs..

 

change car is an expensive event.. my issue is i never downpay much, cash flow is rather impt for my other short term investments..

[Throttle2]

Nowadays, plenty of >$10k pm. not as few as you think.

 

But i guess depends on what job and company and industry.

 

In certain industries, entry level stardards are $3 - $8k

Senior management is 10 times that.

[Chickenbackside]

Not really lah. A lot of people I know are earning more than $10k a month. They are not any upper/senior management. Some sales people, some musicians, some hairdressers...

 

A lot to do with their capabilities and talent in their respective fields...

[Freestylers09]

my ex boss free lance video camera man also average 15-20k sometimes no nid work..rent camera to pple enough also..daily $400 each set iirc

 

my relative dealing wif some small daily item everday day also this range

 

actually senior management get this range...i feel consider quite low.just my personal opinion only

[XLR8]

From the poll results, seems like most of the MCF forumers are rich people leh... no wonder our gov can safely plant so many erp gantries!

 

Somehow, I believe that the results are not really true reflections? monthly car expense on avg can be ard $1200 (from those who posted in this thread and on a previous long standing thread)... so many forumers are actually earning $10K?! assuming 10% as suggested in the results.

 

Agree on that. % wise is not accurate to derive how rich forumers are. It also depends on the car you drive and consumption habits. Lets say I earn 7k a mth and I bought a budget car at only 40k. 10 year loan at $416 a mth which is only 5%. Plus petrol and parking etc lets say max up to 10% of my salary a mth which is stil very little. End of the day I am still not rich what. Just that I buy cheaper car.

[Friendstar]

me 0% loan

Edited June 28, 2008 by Friendstar

[Friendstar]

its never worth it for buying car, especially in singapore..

especially after this thread..

 

there is a reason for changing car this time, my civic will be at least 5 to 10 yrs..

 

 

what if new civic out next year?

 

then somebody's backside will itch again

[Friendstar]

tats why they'r usually the first ones to be retrenched.

 

 

but of coz... who doesn't want such paychecks!

[Friendstar]

esp banks.

 

banks pay really well..

 

typical HR can earn 8k/month

[XLR8]

Are you sure bro? You in banking sector? I got a fren working in a bank as HR but the figure she's earning is almost halved of what you mentioned and she's a grad somemore. About $5k to round off.

[Derricklim87]