Cost of Car Ownership in SGP Per Year - Wats Yours ?

[Pentux]

Guys, during this period I was thinking of downgrading my car. I'm currently driving a forte opc registered 2009. I bought it from the dealer in dec 2011. So that makes me the second owner. My monthly installment is 705.. Was thinking of changing to a cheaper car but Normal plate.. Looking for monthly of about 500.. Do u think its still possible to achieve that during this period? Or should I just keep this car

 

i tink forte opc is quite cheap liao...unless u wanna chg to cars left with 1-2 years

[Shanhz]

Hi all would like to ask for advice .

 

Have a friend who is lettin go a 4 yr old Hyundai avante.

 

Asking 40k

 

I'm not sure how the depreciation , monthly installments, road tax and insurance is calculated cos I never bought a car before.

 

Appreciate if any bros here can advice on the above

 

check sgcarmart for a smilar age car, look at the asking price and minus about 2-3k from there, is roughly what you should pay your friend. then add on the standard costs as listed by other bros.

[Shanhz]

This is unrelated as I could not start a new post. I bought a car in Ireland that was imported from singapore, is there any way for me to check the odometer readings from last service before it left Singapore. A website maybe?? I dont Know where the car was bought or any history while it was in singapore.

 

hi, you can't check. unless you can find its registration plate number while it was in sgp then maybe still possible.

what brand/model is that?

[RadX]

https://sg.finance.yahoo.com/news/true-cost-owning-car-singapore-160000880.html

[Detach8]

https://sg.finance.yahoo.com/news/true-cost-owning-car-singapore-160000880.html

Terrible article by Yahoo, they double counted the cost of the car.

[RadX]

Terrible article by Yahoo, they double counted the cost of the car.

 

 

that was what i was thinking....sth not right somehow...

 

nehmai lah....turn ppl away from buying..so COE drop,,,hahh

[Detach8]

that was what i was thinking....

 

nehmai lah....turn ppl away from buying..so COE drop,,,hahh

yeah moneysmart.sg... not confidence inspiring at all

[Heman75]

Terrible article by Yahoo, they double counted the cost of the car.

you are right.. depreciation already in the car price why count again

 

 

that was what i was thinking....sth not right somehow...

 

nehmai lah....turn ppl away from buying..so COE drop,,,hahh

if a person want to buy .. no matter how to tell they will not listen.

[Enye]

please forgive him

 

he is an angmo FT with major in English Language

 

maths no good is normal

 

[kjse7en]

Referring to the very first post, I just did a rough calculation.

 

Instead of absolute number, maybe using % would paint a more reflective picture since everyone has different commitments to annual income level.

 

For me, total cost per year* come in the 20%-30% range. Is this high/average/low? What's yours?

 

 

*Made up of (annualized):

Instalment

Petrol

 

RoadTax

Insurance

Regular maintenance

Car wash at Petrol station

Car park fees

ERP

 

[Jq1988]

Happiness vs money....I choose happiness....cos it is priceless...I spend more time with family, bonding and travel together in my small minivan...we are happy, have all the freedom to go any where we want and take control of our life, never limit by money....it is too precious and money can earn, but happiness can't!

Edited August 27, 2014 by Jq1988

[I-love-xl]

https://sg.finance.yahoo.com/news/true-cost-owning-car-singapore-160000880.html

 

Moneysmart is a disgrace by allowing such article to be posted. The writer of course deserves to be sacked together to the editor.

[Simplecar]

 

Moneysmart is a disgrace by allowing such article to be posted. The writer of course deserves to be sacked together to the editor.

 

not that serious bah.

 

[xherion]

yeah moneysmart.sg... not confidence inspiring at all

 

Yeah they usually have quite well thought out articles, but this one really blew it hard.

[Kklee]

Their cost is $365,257

 

My estimate of the "costs" to take LRT/MRT/Bus to and fro for work each trip lasting 2 hours.

 

Hourly rate $21

2-hours one way, both ways 4-hours = $84 per day

LRT/MRT/Bus - $3 per trip, both ways = $6 per day

Sub Total = $90 per day

 

5 days a week, 52 weeks a year, for 10 years = $234,000

 

Note, that's for work. Excluding other travels.

 

That's the cost of 1 person. If a married couple, working at the same place, the cost will be $468,000.

 

The choice is clear, a car is cheaper :P

 

 

 

 

 

[Vhtfhwlego]

Referring to the very first post, I just did a rough calculation.

 

Instead of absolute number, maybe using % would paint a more reflective picture since everyone has different commitments to annual income level.

 

For me, total cost per year* come in the 20%-30% range. Is this high/average/low? What's yours?

 

 

*Made up of (annualized):

Instalment

Petrol

 

RoadTax

Insurance

Regular maintenance

Car wash at Petrol station

Car park fees

ERP

 

I have all figures expect for car wash.

The most also $100.00 per year as I only wash car once every 7/8 weeks.

 

The total car ownership should be 20% or less for personal income.

[xherion]

May i know What is the hourly rate for below?

 

Their cost is $365,257

 

My estimate of the "costs" to take LRT/MRT/Bus to and fro for work each trip lasting 2 hours.

 

Hourly rate $21

2-hours one way, both ways 4-hours = $84 per day

LRT/MRT/Bus - $3 per trip, both ways = $6 per day

Sub Total = $90 per day

 

5 days a week, 52 weeks a year, for 10 years = $234,000

 

Note, that's for work. Excluding other travels.

 

That's the cost of 1 person. If a married couple, working at the same place, the cost will be $468,000.

 

The choice is clear, a car is cheaper :P

 

 

 

 

 

 

Mine, calculated for new Mazda 6 - 2.0L:

 

Depreciation/yr $12,450

Road Tax / yr $1,210

Insurance / yr $2,522

Maintenance / yr $1,000

Petrol / yr $3,000

Parking & ERP / yr $600

Total / yr $20,989

 

Edited September 26, 2014 by xherion

[Turtlekar]

Their cost is $365,257

 

My estimate of the "costs" to take LRT/MRT/Bus to and fro for work each trip lasting 2 hours.

 

Hourly rate $21

2-hours one way, both ways 4-hours = $84 per day

LRT/MRT/Bus - $3 per trip, both ways = $6 per day

Sub Total = $90 per day

 

5 days a week, 52 weeks a year, for 10 years = $234,000

 

Note, that's for work. Excluding other travels.

 

That's the cost of 1 person. If a married couple, working at the same place, the cost will be $468,000.

 

The choice is clear, a car is cheaper :P

 

 

 

 

 

You haven't factor in your hourly rate....If you are an average income earner, saying $3000/ mth, that will equate to $136.36/day and equate to $17.05/hr.

With your 2 hours trip on the ride, you are not productive during the 2 hours, and that equates to $682/mth....meaning in a year $8866/yr.....

 

that is if......

 

if you are driving, you could cut the time to just half an hour, and that will mean saving of $12.79 for the 1.5hrs. For a week, mean $63.95, and that translate to $3325.40 for a year.......wow, driving car can save money.....Time is Money.....How's that?