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Old 20-02-2015, 06:22 PM
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Originally Posted by Unregistered View Post
Your profile can be categorised as mid middle income, a typical average grad couple profile. Owning a fully paid property and two not paid up properties (are they both condos or one is a hdb flat?) is no big deal in today's environment. Only if you fully own 3 fully paid condos, then you are considered upper middle class.

Given you mid middle income social status, it would be appropriate that you get either a Japanese or Korean car costing about $120k - $150k.

In your situation, if your condos have no tenants (given the massive oversupply of condos) and if you lose your job (since your private sector job is not guaranteed), you will be in big trouble. Worse, your condo value could drop so much that it wipes out the equity you have on your condos (i.e. the value drops from $1.6m to $0.8m).

I suggest you save up your cash from the current $100k to $300k before you buy a car and then use cash to pay in full for the car.

Should be around there. We make $400k pa, and recently bought a jap car for $200k.
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