Buying a car? You need to be earning at least $8,850 first

[Silverkris]

https://www.asiaone.com/lifestyle/buying-car-you-need-be-earning-least-8850-first?utm_medium=Social&utm_source=Facebook&fbclid=IwAR1--IIChlz5jayZDU3Ye6xp5AvpjFScyOe0Lzae5eaholn3gXRyGx47etg#Echobox=1648628907

[Throttle2]

I didnt read the article but i know i have the tendency to agree.  

oh no, is this going to be seen as haolian post too??? Wtf…..boo hoo hoo😥😅😁

[kobayashiGT]

https://www.sgcarmart.com/used_cars/info.php?ID=1070043&DL=3750

Toyota Vios 1.5A E Sports (COE till 04/2024)

- $16,800.

- Downpayment - $5,000

- Monthly installment - $550

 

If buy this car still need to earn $8.5K? woah. I am rich man. 😂

 

[Silverkris]

5 minutes ago, kobayashiGT said:

https://www.sgcarmart.com/used_cars/info.php?ID=1070043&DL=3750

Toyota Vios 1.5A E Sports (COE till 04/2024)

- $16,800.

- Downpayment - $5,000

- Monthly installment - $550

 

If buy this car still need to earn $8.5K? woah. I am rich man. 😂

 

Maybe the title is wrong then, it should be "Buying a NEW car? you should earn xxxxxx then"

[Gnahp]

18 minutes ago, Throttle2 said:

I didnt read the article but i know i have the tendency to agree.  

oh no, is this going to be seen as haolian post too??? Wtf…..boo hoo hoo😥😅😁

I thought you will disagree, it should be $12k instead of $8.8k 😁

[1fast1]

20 minutes ago, Throttle2 said:

I didnt read the article but i know i have the tendency to agree.  

oh no, is this going to be seen as haolian post too??? Wtf…..boo hoo hoo😥😅😁

From the article:

"Here’s how we chose our car:

It has to be a brand new passenger vehicle with an automatic transmission (Like the wife said, “I am NOT getting into a lorry in this dress.”)

A car loan will be taken (If you’re going, “Need car loan meh ?” Stop. Just stop reading this article now, you high-SES… Ahem. We digress.)"

I don't think either of us belongs to the target demo either. Personally, I love used cars, love manuals, and hate loans. 😁

Edited March 31, 2022 by Turboflat4

[Yeshe]

5 minutes ago, Phang said:

I thought you will disagree, it should be $12k instead of $8.8k 😁

Yeah lah, $1500 for food insurance and parents allowance where got enough when already earning close to 10k.... That segment alone is easily 3k leow... 

 

If have kids, lagi not enough... 

Edited March 31, 2022 by Yeshe
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[t0y0ta]

24k a year is approximately the TCO of a B&B small car, so article pretty well researched and calculated.

Of course delayed gratification is better for the young working adult. The longer they can continue on car-less, the more money they accumulated for savings, investments or simply to buy car with minimal loan.

[kobayashiGT]

Why buy when you can share now? Getgo or BlueSG now! hahaha.

[Throttle2]

18 minutes ago, Phang said:

I thought you will disagree, it should be $12k instead of $8.8k 😁

So many people already 看不开, you still want me to say that??  Mai lah

[RadX]

1 minute ago, Throttle2 said:

So many people already 看不开, you still want me to say that??  Mai lah

 

[Gnahp]

2 minutes ago, Throttle2 said:

So many people already 看不开, you still want me to say that??  Mai lah

it's your opinion

they can disagree just like how you disagree with them

no need to 看不开 🙄

[Throttle2]

5 minutes ago, Phang said:

it's your opinion

they can disagree just like how you disagree with them

no need to 看不开 🙄

I also say

[Inlinefour]

42 minutes ago, kobayashiGT said:

https://www.sgcarmart.com/used_cars/info.php?ID=1070043&DL=3750

Toyota Vios 1.5A E Sports (COE till 04/2024)

- $16,800.

- Downpayment - $5,000

- Monthly installment - $550

 

If buy this car still need to earn $8.5K? woah. I am rich man. 😂

 

depends on who lor 

500k peanut hubby said half million wage is mediocre 🤑🤑🤑

one man's paradise another one's prison 🤫🤫🤫

[kobayashiGT]

3 minutes ago, Inlinefour said:

depends on who lor 

500k peanut hubby said half million wage is mediocre 🤑🤑🤑

one man's paradise another one's prison 🤫🤫🤫

anyone can buy a car, how much he wanna fork out is another issue. hahah. no need to benchmark salary to own a car lah. hahaha.

[Soundphile]

I feel that a good gauge would be the (new) car price to be about the annual salary.

so ya, $8800 works out to be about 105k.. and some bread and butter cars would fit into that category.  

[Mockngbrd]

Ccb potong saga 100k. Last time can buy GTI with $ leftover znng rims. Whoever pay 100k for potong is kum gong.

Edited March 31, 2022 by Mockngbrd

[CarGuy88]

Hope I dont kena flamed for preaching imprudence. This kind of article gives me great discomfort since I'm a borderline case, falling well below without bonuses.

But I try hard to balance enjoying life during my prime adult years with being financially responsible. I don't believe in living, grinding, and existing solely for the sake of retirement, by which time one might be too old to enjoy life. Cars and driving are things that bring me disproportionately great pleasure. Home is close to fully paid for and I have almost no other indulgences that many peers enjoy, like food, clothes, gadgets, travel etc. I don't even have groups of friends that I regularly hang out with (I.e. spend money when meeting up). Love the unbeatable privacy and convenience of driving one's own car too.

So I would argue that a huge intangible - the perceived value one gets out of owning a car - would be a big factor on whether one should own one in SG.

After all, if a car is seen as a mere form of transport and nothing more, then the only rational option in SG would be public transport + occasional Grab/Taxi when needed.

Maybe I'll change my mind when kids come along. 😅😅😅