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What car would you buy with 220k


Mazdaseller
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Interesting... I always read in reviews that the latest Focus and 308 are refined cars. So why're they on top 10 noisiest? Odd.

Check out this site giving a huge list of noise level at various speeds.

 

www.auto-decibel-db.com

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What leverage (price over annual income) would meet your prudence standard?

 

Assuming 180k annual and 220k car, transport cost (including maintenance, fuel, car park, etc) is probably around 20% of monthly income, most people would think it is prudent, especially those without much commitment, ie kids, parental support, housing loans, etc. So it really depends. As we grow older, that ratio will start to come down as income rises, priority changes (spend more on family) and retirement planning kicks in.

you missed the whole point when people talk about buying cars in Singapore at a fraction of their annual income....

 

it's not about their prudence....it's about their annual income

 

 

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What leverage (price over annual income) would meet your prudence standard?

 

Assuming 180k annual and 220k car, transport cost (including maintenance, fuel, car park, etc) is probably around 20% of monthly income, most people would think it is prudent, especially those without much commitment, ie kids, parental support, housing loans, etc. So it really depends. As we grow older, that ratio will start to come down as income rises, priority changes (spend more on family) and retirement planning kicks in.

Most financial advisors globally would recommend not more than 20% - 50% of your annual income on a car.

 

But obviously Singapore is a unique case, with our crazy prices here. Also our taxes are generally lower than global cities (London, NYC, Paris, Sydney, Tokyo etc) and our running costs (mainly parking) tend to be lower as well.

 

I typically try to adhere to 50 - 60% total depreciation (ie new price minus scrap value less than 50 - 60% of annual income), if possible.

 

I know a lot of folks who are at 100%+ who are doing just fine. Just a capital allocation decision everyone needs to make for themselves.

Edited by Fungyee77
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I would go for GLC or 5series though new 5er may come out soon, cheers!

Edited by Spring
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Most financial advisors globally would recommend not more than 20% - 50% of your annual income on a car.

 

But obviously Singapore is a unique case, with our crazy prices here. Also our taxes are generally lower than global cities (London, NYC, Paris, Sydney, Tokyo etc) and our running costs (mainly parking) tend to be lower as well.

 

I typically try to adhere to 50 - 60% total depreciation (ie new price minus scrap value less than 50 - 60% of annual income), if possible.

 

I know a lot of folks who are at 100%+ who are doing just fine. Just a capital allocation decision everyone needs to make for themselves.

COE is a tax. Car prices are distorted here and global standard Is probably not as relevant here. But to spend more than 20% of monthly income on transport is also crazy. 10% would be ideal but it is difficult in Singapore.

 

So actually our tax is closer to 30% than 20% but you can choose not to drive. Lol

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Very unconventional choice.. any experience with it before? How's the drive like? In SG, will be G plate or private car plate? much space to piak piak...  [bounce2]  Jack Neo would be proud..  [:p]

V Class.
Cause it impress me a lot.

 

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assuming HDB household ... $12k x 13 months = $156k

 

20% =  $31.2k ... can become uber driver liao

50% = $78k ... a like new used kimchi or sushi would be nice

100% = $156k ... this one can by BMW 2 GT family MPV liao [thumbsup]

 

hdb carpark is full with bmw/merc/audi/vw and a growing trend with used porky already [;)]

 

Most financial advisors globally would recommend not more than 20% - 50% of your annual income on a car.

 

Edited by Wt_know
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assuming HDB household ... $12k x 13 months = $156k

 

20% = $31.2k ... can become uber driver liao

50% = $78k ... a like new used kimchi or sushi would be nice

100% = $156k ... this one can by BMW 2 GT family MPV liao [thumbsup]

 

hdb carpark is full with bmw/merc/audi/vw and a growing trend with used porky already [;)]

Our COE bloated the car price so much , hard to benchmark against ann income . Maybe against yearly dep is a better measurement.
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so, what's the benchmark for yearly depreciation against annual income?

 

Our COE bloated the car price so much , hard to benchmark against ann income . Maybe against yearly dep is a better measurement.

 

Edited by Wt_know
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TS asked for choices with $220k to spend.

 

People recommend cars with half the price and keep the change.

 

That's not answering the question.

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TS asked for choices with $220k to spend.

 

People recommend cars with half the price and keep the change.

 

That's not answering the question.

 

While we are at that, let's discuss annual income vs car depreciation / car price. Followed by COE.

 

Next thing to be roped in confirm is Politics.

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Very unconventional choice.. any experience with it before? How's the drive like? In SG, will be G plate or private car plate? much space to piak piak... [bounce2] Jack Neo would be proud.. [:p]

Size wise, no need say.

Interior, the seats machiam VIP.

Cockpit, maciam sedan.

Auto door.

Can open only rear window without opening the rear door to retrieve smaller item.

Can option to have a table inside.

Diesel engine.

 

Not only piak piak, you want 2,3,4,5p also can

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Talking about income and the type of cars?

 

Let's get back to topic.

 

220k in Singapore for a car is pretty much an expensive assets to own. But assuming that 220k is the amount a person is willing to spend, then who are we to judge?

Correct . As long as they happy can liao . Is their money not yours
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