Quote:
Originally Posted by Unregistered
if you have to think so hard whether to buy a car or save the money, it is obvious you shouldnt be buying a car. Dont blindly follow the Joneses. Buy only if you can spare the cash and afford the maintenance of the car for your family's travelling comfort, convenience and privacy.
I think there is little status in owning a car nowadays since there are so many around, where once it used to be a status symbol. A few years ago, those owning BMs, Mercs and other Luxury brand cars are considered to be high status, but again these kind of cars are so common now. Worse, you see so many breaking down on the roads. Really lose face.
But now there lies the problem of perception. Since there are so many cars around, then those without cars could be perceived to be unable to afford one.
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Kiasu? At par with peers? Show off? How frequent you use your cars? Take total cost of owning one, of course have to include cost associated like parking lot, parking cost etc, divide by number of hours car in active use. How much is cost per hour? Will it be cheaper if you hire a taxi, or rent a car instead.
Yes, if you have to think so hard whether to buy a car or save the money, it is obvious you shouldn't be buying a car. So car is only for those who really can afford without have to think of retirement. They must have sufficient passive income to last even if they are to face loss of job the next day.