Luckily I bought my new Lexus before the next mad rush. Many of my colleagues also committed their new buys as they cannot wait anymore. They felt cheated when government keep asking them to wait at sideline while watching the COE premium keep climbing.

Congrats. Wow. That's truly affordable.

I'm sure your colleagues can afford to change to a brand new car as most of them would be earning more than $300k pa. If their wives also earn more than $300k pa, their household income would be more than $600k pa. So what is a $100k car? They can simply buy in cash just by using their combined bonus. They can actually change to a new model every year if they wish to. Cars are cheap relative to income of most professionals.

Yes, you are right. Cars are truly affordable nowadays even at COE $100k.

LTA should put negative growth rate so that the roads are clear for the elites to drive on the road.

Actually the wealthy people are very careful with money. I think that's how they become wealthy in the first place. And from the many posters here, there are those who could afford to buy a car just with their 1 year passive income!

Yes, they will buy cars because they can afford them and cars save them time as well as provide them with comfort, privacy and convenience when commuting.

In my condo, there are many families with 2 cars. At present we still have sufficient lots for everyone, but if people delay their retirement to 65, and their children join the workforce, I fear that soon there will be insufficient lots. Mind you, our condo is next to an MRT station (2 min walk)!

So I really feel sorry for those who bought condos that have only 1 car lot for 1 apartment unit. They will not be able to get a second car park lot. Not only that, their visitors will have no where to park.

How much do you spent on your cars through out your life span?
Change 4 times - 1m
Cost associated with owning a car for 40 years - 1m
Total amount spent - 2m
That does not include lost of interest or opportunity cost over the 40 years.

There are many COEs available for bidding now. If you have not booked your new car, better get it now before everyone rush to buy. $100k for a car to use for 10 years is cheap. You just need to spend $10k per year. If your family income is $80k per year, no problem buying a new $100k car. You just need to set aside $10k out of $80k for the new car.

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You've got to be kidding me.

You have not factored in operating costs to the car.

I see many new cars at HDB car parks. These households are young and don't earn so much. I'm sure $80k pa household income would be suffice to sustain a car.

Regarding this point, you are very right. There is only a fixed road capacity and hence only those who truly can afford it should be able to drive.

ERP should start from 10-15 dollars and go up to 50 dollars at the peak periods/ busiest roads.

COEs should all be 100k and above.

Too bad this is politically suicidal.