How Much Do You Need to Earn Before You Even Think of Buying A Car In Singapore? - Page 5 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How Much Do You Need to Earn Before You Even Think of Buying A Car In Singapore?

Reply
 
Thread Tools
  #41 (permalink)  
Old 01-12-2020, 01:53 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
For sensible and conservative people, their household NW would be more than $5M before they buy those type of cars.

For the showoff, with no sense of long term planning (for their future/retirement), their NW could be anything from $600k to $1M and they would think that they deserve those kind of cars.

We belong to the ultra conservative type. With over $6M in HH NW, we are still happily driving our mass market Jap cars - just that my wife and I have our own car. And it makes a lot of sense too. Jap cars are efficient and reliable and come with a lot of new tech features!
What do you do?

How old are you?



SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #42 (permalink)  
Old 01-12-2020, 11:04 PM
Unregistered
Guest
 
Posts: n/a
Default

A lot of big cannon fairies here. Iím a junior executive at an asset management firm and my bosses are those earning in excess of 400-500k. Donít think they have the time to write in this forum how they manage their finances

Reply With Quote
  #43 (permalink)  
Old 04-12-2020, 09:10 AM
Unregistered
Guest
 
Posts: n/a
Default

I earn $4k but got buy a car..sigh

Reply With Quote
  #44 (permalink)  
Old 04-12-2020, 10:29 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I earn $4k but got buy a car..sigh
You buy car with 4k pay (take home 3.2k?) then how you pay for mortgage, expenses & saving?
Reply With Quote
  #45 (permalink)  
Old 04-12-2020, 10:32 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
You buy car with 4k pay (take home 3.2k?) then how you pay for mortgage, expenses & saving?
I used a wedding windfall to buy in cash and I pay for running expenses only. Even then still quite shiong.
Reply With Quote
  #46 (permalink)  
Old 04-12-2020, 10:49 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I used a wedding windfall to buy in cash and I pay for running expenses only. Even then still quite shiong.
Wah seh, your wedding profit got so much? I thought normally if have profit also can only earn 10k~.

Maintaining the monthly servicing can easily cost $1000~ a month, I think with 4K pay very hard. Unless your partner also chip in for it.
Reply With Quote

  #47 (permalink)  
Old 04-12-2020, 11:06 AM
Unregistered
Guest
 
Posts: n/a
Default

Just curious, how much does it take to maintain a 500k+ luxury sedan? Usually the person have to earn how much sia

Also should i get a car if i stay in the west and have to travel to the east with a mere monthly take home income of 4k
Reply With Quote
  #48 (permalink)  
Old 04-12-2020, 11:10 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Wah seh, your wedding profit got so much? I thought normally if have profit also can only earn 10k~.

Maintaining the monthly servicing can easily cost $1000~ a month, I think with 4K pay very hard. Unless your partner also chip in for it.
We were lucky... Profit about $160k. Not having a banquet helped too. I know it's above average...splurged on a "cheap" but first hand car. Now I wonder if I can ever afford another after the COE expires 7 or 8 years later.

Life is tough when you earn $4k a month.
Reply With Quote
  #49 (permalink)  
Old 04-12-2020, 11:15 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Just curious, how much does it take to maintain a 500k+ luxury sedan? Usually the person have to earn how much sia

Also should i get a car if i stay in the west and have to travel to the east with a mere monthly take home income of 4k
Depends on how much money you have in your account. For you, your high mileage will devalue the car to zero even before 10 years COE is up. It will also wear out your car's engine and transmission.

Best go for a low end Toyota or Honda which tend to be more durable. These 2 brands are not the cheapest though. Never buy something like a VW or anything in their group (e.g. Skoda, Seat, or Audi) even if certain models are the same price as the Toyota because they breakdown super easily. High mileage + low income better not burn yourself with a VW group car.
Reply With Quote
  #50 (permalink)  
Old 04-12-2020, 03:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
We were lucky... Profit about $160k. Not having a banquet helped too. I know it's above average...splurged on a "cheap" but first hand car. Now I wonder if I can ever afford another after the COE expires 7 or 8 years later.

Life is tough when you earn $4k a month.
The cheapest now is around 70k~

Does your partner not working? Many websites suggest an annual household income of at-least 80k and above before considering to buy a car.

If you are servicing high mortgage or have more than 1 kid, you will have to earn more than that.
Reply With Quote
Reply

Bookmarks

Tags
afford, cars, coe, vehicles

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Buying back of used printer cartridges, ink & Supply long0857 Marketplace and Find Work 5 06-12-2019 06:52 AM
What are the Rules and Restrictions in buying overseas properties? hesterferranti General Discussions 0 08-01-2015 09:52 AM
Buying property in Europe to get a residence visa warning Investments and Net Worth 2 11-12-2014 09:52 PM
how much do scholars earn? oxfordd Income and Jobs 2 17-05-2012 11:32 AM
Checklist for buying property Salary.sg Investments and Net Worth 1 19-10-2008 11:03 PM

» 30 Recent Threads
Compare civil service salary ( 1 2 3... Last Page)
11,222 Replies, 6,260,951 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,577 Replies, 2,128,667 Views
ST Electronics ( 1 2 3... Last Page)
1,334 Replies, 327,136 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,719 Replies, 1,064,977 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,152 Replies, 877,923 Views
Lawyer Salary ( 1 2 3... Last Page)
10,068 Replies, 3,379,516 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
776 Replies, 399,773 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
4,108 Replies, 1,412,866 Views
Where would you invest your money... ( 1 2 3... Last Page)
31 Replies, 17,686 Views
GIC career ( 1 2 3... Last Page)
268 Replies, 377,729 Views
UOB Management Associate Program ( 1 2 3... Last Page)
396 Replies, 211,871 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
535 Replies, 155,785 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,145 Replies, 3,957,908 Views
JP Morgan ( 1 2 3... Last Page)
48 Replies, 27,666 Views
OCBC mortgage specialist
4 Replies, 3,442 Views
MOH Graduate Studies Scholarship ( 1 2)
16 Replies, 16,374 Views
GovTech career grade ( 1 2 3... Last Page)
188 Replies, 188,413 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,874 Replies, 1,253,577 Views
Standard Chartered Bank Back Office ( 1 2 3... Last Page)
51 Replies, 99,596 Views
Starting pay for fresh uni grad... ( 1 2 3... Last Page)
147 Replies, 8,699 Views
Career as Teacher ( 1 2 3... Last Page)
3,034 Replies, 1,907,009 Views
Keppel Associate Programme 2018 ( 1 2)
16 Replies, 11,532 Views
Career as a quant... ( 1 2 3... Last Page)
43 Replies, 42,933 Views
DBS tech seed programme ( 1 2 3... Last Page)
245 Replies, 41,285 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
117 Replies, 131,342 Views
Advice for SAF regular pls
9 Replies, 1,270 Views
Usually is it ok to HR recruiters...
5 Replies, 1,472 Views
High Finance Thread ( 1 2 3... Last Page)
156 Replies, 38,235 Views
just want to know ur opinion
0 Replies, 209 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:21 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2