Car price is what % of your annual household income?

[RadX]

2 year old thread

Evergreen topic

 

 

and Throttle2 still the same obnoxius from day uno

[Wt_know]

but this will never beat the number of COE threads .... hehe

 

2 year old thread
Evergreen topic

 

Edited August 28, 2014 by Wt_know

[Roh96]

One of our members suggested that one should not buy a car worth more than 50% of annual household income. Most of us widely accepted it as a thumb rule for sound financial stability.

 

To start with, my present car is much more than 50% of our household income.. . Those do not want to tell the %, just join the poll as it is confidential!

 

You may do one SK and one pre-SK series cars.

 

Just to give an example, if my car is 100k, and household income is 200k. then the percentage is 50%

 

To follow your example, some ppl household income 200K but bought a new car at 100K, and they drive it for full 10 yrs. So it work out to be 50%.

 

If the same ppl with 200K household income bought a used car at 40K (eg. 7 yr old car) but they change car every 3 yr. It may look like their car price is always 20% of household income, but actual fact is higher because they would have changed 3 cars at least in 10 yrs.

[Nzy]

$3500 - 20% cpf = $2800

spend $1500 (bare minimum) on car ... left with $1300

 

$1.3k ... enough to sianz char bor or not? muahahahaha

if family man ... don't even think about buying car

 

 

 

Maybe they save long time then buy car lo. I saved $2000 a month for 1 whole year before I got a 2 year old car. That time COE was still low. So after buying the car the only thing I spend on the car was for servicing, insurance and petrol. Hardly drive so petrol only $50-$100 a month.

 

Now with 2 kids and COE so high I am still considering whether want to get another car or not since I park my car at home almost 7 days a week.

Edited August 28, 2014 by Nzy

[Throttle2]

 

To follow your example, some ppl household income 200K but bought a new car at 100K, and they drive it for full 10 yrs. So it work out to be 50%.

 

If the same ppl with 200K household income bought a used car at 40K (eg. 7 yr old car) but they change car every 3 yr. It may look like their car price is always 20% of household income, but actual fact is higher because they would have changed 3 cars at least in 10 yrs.

Oh then i siao liao, change cars every other year.

 

But changes cars also got residual value , doesnt mean everything gone right?

[Quantum]

One of our members suggested that one should not buy a car worth more than 50% of annual household income. Most of us widely accepted it as a thumb rule for sound financial stability.

 

To start with, my present car is much more than 50% of our household income.. . Those do not want to tell the %, just join the poll as it is confidential!

 

You may do one SK and one pre-SK series cars.

 

Just to give an example, if my car is 100k, and household income is 200k. then the percentage is 50%

before vote, can explain what is SK and pre-SK?

[1fast1]

before vote, can explain what is SK and pre-SK?

 

Licence plate series - first two letters.

 

 

and Throttle2 still the same obnoxius from day uno

 

And I thought you did such a great job of closing that other thread that was inevitably going to become a hao lian vs green/red eye thread.

 

It's like Hydra - cut one head off, two more will grow in its place. Hail Hydra!

[RadX]

 

Licence plate series - first two letters.

 

And I thought you did such a great job of closing that other thread that was inevitably going to become a hao lian vs green/red eye thread.

 

It's like Hydra - cut one head off, two more will grow in its place. Hail Hydra!

 

 

lol...still gotta have some evil, else good ppl no work to do...kekekeke

[1fast1]

 

 

lol...still gotta have some evil, else good ppl no work to do...kekekeke

 

 

I think "good" is too strong a word for people like you.

 

I'd describe you as "necessary, but regrettable".

Edited August 28, 2014 by Turboflat4

[RadX]

 

 

I think "good" is too strong a word for people like you.

 

I'd describe you as "necessary, but regrettable".

 

 

and you think i care what you think?

 

'one SWALLOW does not make a summer'

[1fast1]

 

 

and you think i care what you think?

 

'one SWALLOW does not make a summer'

 

Don't talk about swallow, wait Porker get jealous of you.

[RadX]

 

Don't talk about swallow, wait Porker get jealous of you.

 

 

lol......

[Vhtfhwlego]

In MCF, car annual depreciation should never exceed one's 1month salary.

[Quantum]

MCF people very rich. Maybe they want to advise all the "poor" people not to buy cars so COE will go down. :(

 

average singapore household income shld only around 5-8k per mth. (HDB only allow household income <10k) to buy new flats. Meaning no car, no house for all these guys

agree with you,

we are not speaking same language with them,

most of MCF members household avg annual income shld be more than

300k, especially few loyalty members should be 500k above

[Angcheek]

You want controversy ok i start.

 

Its just a car.

Whatever your household income.

No full cash settle, plse dont buy car.

Whether $50k or $500k.

Dont sia suay. This is MCF!

 

Ok now waiting for the flames.

 

This advice is 2 year late haha :-D

[Angcheek]

In MCF, car annual depreciation should never exceed one's 1month salary.

 

like that a Class will dep at about 16k , meaning I need to have 16K salary to drive one .....

 

NOticed some are looking at gross income , some at expendable income , some at NPV ....

[Ngck]

well done.... manage to revive a 2 year old thread.... lol

 

i no money... can only pay full for bicycle

Edited August 28, 2014 by Ngck

[Joseph22]

You want controversy ok i start.

 

Its just a car.

Whatever your household income.

No full cash settle, plse dont buy car.

Whether $50k or $500k.

Dont sia suay. This is MCF!

 

Ok now waiting for the flames.

Next time.. U looking for ppl to troll u. Just pm me.