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  #10031 (permalink)  
Old 27-05-2016, 09:30 AM
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Originally Posted by Unregistered View Post
If you want to buy a new car, buy now. Don't listen to the idiot who said COE will crash to $10k. Anyway, new cars are still very cheap. You can get good new cars at $90k or lesser. $90k for 10 years means only $9k per year to own the car. A HH with median income of $100k would spend only 9% on car ownership. This is cheap. Those with HH income of $200k or more can buy two or three new cars.
I earn 110k annual and driving a b&B japn car, 7 yr old, though its in good condition, I am lusting over a new car. Just a vezel which is less than 90k for a 1yr old.
That is still a depreciation of 9.2k annual, not counting in petrol and bank interest/insurance.

WIth that in mind, its a monthly car bill of $900 to $1000 monthly, which I feel is a huge sacrifice. As such, I am still hoping COE will go down, or else I will renew COE on my existing B&B.

Car bill should be a luxury and not eat into the income needed to feed the family and plans for retirement.

my 2 cents

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