Very sensible what you said.
My wife and I have our own cars since the day we married - 25 years ago. She needs one for her work and so do I, so we have 2 cars.
Because we needed 2 cars, we always bought jap cars, good and cheap, while my colleagues were into conti cars. I remembered in 2005, the combined price of our 2 jap cars, (an MPV and a sedan) costed less than my colleague's conti car. While we had no problems with our 2 jap cars, my colleague's conti car gave him quite a bit of problems and cost him a lot of money to maintain.
My wife just got another new jap car to replace her 10 year old car, same trusted brand and model. My son who has started work is also shopping for his own car since we still need our cars.
I tried letting my son drive my car while I took the
MRT to work, but it didn't feel the same. It is really difficult to give up the car. I am now not sure even when I retire, I will be able to give up driving. It is like having your freedom taken away.
Quote:
Originally Posted by Unregistered
Many people are getting new cars while COE is still affordable. I remembered COE price alone went to $100k last time for small cars. My salary in 2006 was $60k pa, now 10 years later it is $120k pa. About the same for my wife. In 2006, we bought a $50k plus car, now we can still afford a new $100k plus car which is $50k more expensive ($5k pa more expensive, spread over 10 years) but our combined pay increased by $120k pa.
Nowadays a $100k plus car is cheap and good. No need to buy the expensive brands because the dealers' margins for those brands are huge. Once you drive off from the showroom, the car value drops like a rock.
Better to buy a new cheap, good quality car and save your money to buy high dividend stocks. |