New workplace too near home

[Blackwind]

hi guys, its me again

 

my current job requires me to travel long distances everyday. i hav to take bus, mrt, bus to reach my destination. in worst case scenerio it will take me more than 1 and a half hrs. driving only takes me half an hr so it is really worth having a car. starting next week, however, i will be embarking on my new career. now my new workplace is just a few bus stops away from my house!!!

 

cost of owning car per mth:

 

cost of car: $250

road tax: $50

insurance: $122

parking: $60

petrol: $100 (i think full tank would last me for 2-3 weeks once i change job)

 

total: $600 per mth for not even using my car's services is crazy

 

i am someone who likes to make my car work for me not the other way round. im the type who will use it as much as possible when and as i want. now the problem is that my new job doesn't require me to use it!!!

 

if i take bus it will be 60 cents? the time i save by using my car to get to work will no longer make much diff anymore.

 

i will only be working at my new place for around a year. after that i believe i can fully utilize my car again.

 

the qtn is.... any idea what i can do with my car for the next 1 year.... i think it will be sleeping most of the time

 

any advise for me?............. thanks in advance!

[Albeniz]

Rent it to someone you trust.

[Ncp91]

Sell the car.

[Apollo]

renting out is the best option.

 

alternatively if it is a COE car, u can opt to suspend the road tax n take it off the road (no parking on public road) for the duration, so effectively u dun hv to fork out for insurance as well.

 

or do ur maths, it may b worth while to encash now. who know, 1 yr later car price drop even more.

[Donut]

that is why ppl tell you that getting a car is a commitment.

 

whether you use or not, you are still paying for it.

 

you are lucky that you still got a job.

 

what about those who dun have a job suddenly?

 

 

u either use it as normal, rent it out or sell it away.......

[Viotrex]

Or take the long, scenic route to your new workplace instead of the quickest, most direct path.

[Modykoh]

that the reason, for some, rental is a better ooption....

[Sfhuang]

i will only be working at my new place for around a year. after that i believe i can fully utilize my car again.

 

Only one year??

[Blackwind]

Rent it to someone you trust.

 

yes it seems that this is the best option... im in no hurry so i'll take my time to find someone trustworthy

 

thanks

[Robo]

if can afford why not keep it.. at nite wanna go out also easier plus wkend wana bring your parents out also more convenient. u have spend so much on ya car already.. so y not just keep it...

 

alternatively just rent it to someone u trust.. at least cover ur cost, if u lucky can get a profit somemore.

[Blackwind]

Sell the car.

 

good option but i have grown attached to it... im actually planning to renew its coe in 2011.

[Blackwind]

renting out is the best option.

 

alternatively if it is a COE car, u can opt to suspend the road tax n take it off the road (no parking on public road) for the duration, so effectively u dun hv to fork out for insurance as well.

 

or do ur maths, it may b worth while to encash now. who know, 1 yr later car price drop even more.

 

guess renting out is the best option.... thanks for sharing the other options too

[Blackwind]

that is why ppl tell you that getting a car is a commitment.

 

whether you use or not, you are still paying for it.

 

you are lucky that you still got a job.

 

what about those who dun have a job suddenly?

 

 

u either use it as normal, rent it out or sell it away.......

 

yes what you have said is very true ..... most prob i'll use it as normal or rent it out like you said. i will make renting out to someone i trust my priority

[Blackwind]

Or take the long, scenic route to your new workplace instead of the quickest, most direct path.

 

this is a perfect example y i post this kinda topic on mcf....... creative ideas.

 

even when you think the answer is simple there may actually be many other ways of going around it....

 

thanks

[Blackwind]

that the reason, for some, rental is a better ooption....

 

i have been working in my current place for more than 4 years.... didnt expect to change job and even if i did never expect my new workplace to be so near my house that may be one reason why i did not think of renting a car at that time. thanks for the input

[Blackwind]

i will only be working at my new place for around a year. after that i believe i can fully utilize my car again.

 

Only one year??

 

not exactly one year... should be around there. it is still too early to come to a conclusion. if everything goes according to plan should be 1 year.

[Blackwind]

if can afford why not keep it.. at nite wanna go out also easier plus wkend wana bring your parents out also more convenient. u have spend so much on ya car already.. so y not just keep it...

 

alternatively just rent it to someone u trust.. at least cover ur cost, if u lucky can get a profit somemore.

 

hi bro!

 

haha you are right. i am perfectly ok with keeping my car. car, ins, rd tax already paid for. currently onli need to pay for petrol and season parking... don't think it will even hit $200 per mth

 

just that it will be better if somebody who really needs it uses it... it would be such a waste. moreover i'm the old and boring type who doesn't go out much to enjoy myself haha... no more like the younger days lah. somemore parents got own transport.

 

thanks bro

[So_nice]

rent it out. or do u haf siblings? u might wanna lent them ur car for a fee.