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How much are you earning per annum?

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  #10031 (permalink)  
Old 27-05-2016, 09:30 AM
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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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  #10032 (permalink)  
Old 27-05-2016, 10:02 AM
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If your wife's income is $100k pa, your HH income is $210k pa. Can afford a $90k new car easily.

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Originally Posted by Unregistered View Post
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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  #10033 (permalink)  
Old 27-05-2016, 02:48 PM
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My take on this car ownership issue is this; "If you have to forgo something else to own a car" then do without a car. Singapore is a small city state with very good public-transport
connectivity.

Buy a car only if you have the "spare" cash or you really need a car for your work or for family needs.

I used to take public transport for the longest time. Then the public transport connectivity and service standards were cr*p! But I was stuck with it becos I wanted to build up my wealth first.

Delayed gratification and initial sacrifices meant that my condos are now fully paid, and passive income above $120K.

Now that we are older, its time to YOLO a bit. Now my wife and I have a car each - paid for form passive incomes!

Dont rush into buying a car. Newer cars come better equipped with new technologies and nicer designs.

Quote:
Originally Posted by Unregistered View Post
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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  #10034 (permalink)  
Old 27-05-2016, 02:53 PM
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COE now is very cheap. Only $40k plus.
It will surely go up to $50k plus, then $60k plus, then $70k plus and higher.
Don't wait. Buy with guaranteed COE.
Don't be stupid to buy the expensive cars.
Buy the cheap and reliable cars.
Many to choose from.
Only $90k.
If you're not a millionaire, don't buy $200k cars.
Buy cheap new cars. $90k or lesser.
All cars are the same.
Can move from one place to another.
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  #10035 (permalink)  
Old 27-05-2016, 05:27 PM
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dont' rush in and become kan cheong spider.

with the economic situation getting worse, it's only time that COE will crash back below $30k.

Go in at your own risk now.
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  #10036 (permalink)  
Old 28-05-2016, 12:43 AM
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Quote:
Originally Posted by Unregistered View Post
dont' rush in and become kan cheong spider.

with the economic situation getting worse, it's only time that COE will crash back below $30k.

Go in at your own risk now.
Those who listened to you missed the boat to buy at $38k COE.

With so many people buying, COE will only go higher.

Next week, COE will go to $50k or higher. Just see.
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  #10037 (permalink)  
Old 28-05-2016, 07:37 AM
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Visit the car showrooms this weekend. You will see big crowds rushing to lock in the low car prices. COE price will surely go higher next week. Huat Ah !!!!

Don't be stupid to buy $200k cars, if you're just the average wage earner. If you're a millionaire, then buy whatever you wish. Million dollar sports car? No problem.

If you're just an employee, don't commit expensive cars. Just go for the cheap and reliable cars. $90k can get.

No need to show off as though you're so rich. Hahaha.
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  #10038 (permalink)  
Old 28-05-2016, 11:00 AM
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Quote:
Originally Posted by Unregistered View Post
Visit the car showrooms this weekend. You will see big crowds rushing to lock in the low car prices. COE price will surely go higher next week. Huat Ah !!!!

Don't be stupid to buy $200k cars, if you're just the average wage earner. If you're a millionaire, then buy whatever you wish. Million dollar sports car? No problem.

If you're just an employee, don't commit expensive cars. Just go for the cheap and reliable cars. $90k can get.

No need to show off as though you're so rich. Hahaha.
Actually if you are already going to spend $90k+ for a lousy low end Jap model, might as well spend a bit more can get a Merz C-180. Some PI are offering C-180 for $130k+ now, a lot of them are on the roads now because you get a much better car and prestige by spending only 40k more.
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  #10039 (permalink)  
Old 28-05-2016, 03:14 PM
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Actually if you are already going to spend $90k+ for a lousy low end Jap model, might as well spend a bit more can get a Merz C-180. Some PI are offering C-180 for $130k+ now, a lot of them are on the roads now because you get a much better car and prestige by spending only 40k more.
Why pay $40k more? You can invest the $40k and this will grow multiple folds over the long term if you're good at investing.

What prestige? All cars are the same. Prestige is you own and live in a luxury condo. That's prestige.

If you own expensive cars but live in public housing, where's the prestige?

The difference between living in a luxury condo and public housing is a million dollar. But the difference between a cheap car and expensive car is a few ten thousand dollars. So no big deal. I know of people who drive a cheap car but own 3 luxury condos. That's high class.
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  #10040 (permalink)  
Old 29-05-2016, 11:11 AM
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There are big crowds at car showrooms now.

Don't believe? Go there and see for yourself.

COE PRICES WILL RISE NEXT WEEK DUE TO THE HUGE DEMAND !!!!!!!!!!!

HUAT AH !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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