How much are you earning per annum?

You people damn funny is it low self esteem that makes you write this? We buy car don't say anything then call us idiot. If we say something you will call us guai lan.

COE low or COE high if you need just buy, if you need to think so much means you don't really need it or can't really afford it. My COE cost 70K if COE really drops to 30K I don't really care so long as the roads remain clear and not jam packed.

Truth is 1.5K per month is a lot to some people and nothing to others, my car is paid for in cash and why is because I have cash lots of it, my portfolio will include property, stocks, gold the whole enchilada. One thing I don't have much of is a lot of debt.

Generally I don't like to write like this because everyone starts of differently in life. But if you want to go around calling everyone idiots then you're just asking for it, if all of us lived like you life would be so goddamn miserable.

Originally Posted by Unregistered

almost all car buyers are idiots.

Just that if one buys a COE at a higher price, one is a greater idiot.

Think about it, an item that has a running cost of $1.5k. How much is that?
Well, that's more than what you get every month when you leave 161k in your cpf after 55.

Who is not an idiot? People who find better ways to use 1.5k every month.

If you like milk, doesn't mean you need to buy a cow.
If you like travelling in a car, does not mean you need to buy a car - taxis, rental cars , car pooling are possibilities.

Mods should require registration to post on this/any forum. A large number of poorly thought and senseless comments. Clearly car dealers are trying to provoke sales with talk of COE skyrocketing in the future etc.

Since this is a salary forum, allow me to share. 31 year old, business development in an MNC currently posted overseas on a work assignment. Earning 290k p.a. wages, plus separate investment income from property and equities. I really encourage Singaporeans looking for higher wages to find positions overseas.. relatively limited job market in Singapore.

this is a good forum to provide advice for COE trend. Since government is going to tighten the supply soon after GE, it's thru this forum that people get directions of when to buy a new car. The answer is now. Buy the new car before COE skyrocket back again. You will never see CatA COE below $60k in the near term.

Originally Posted by Unregistered

this is a good forum to provide advice for COE trend. Since government is going to tighten the supply soon after GE, it's thru this forum that people get directions of when to buy a new car. The answer is now. Buy the new car before COE skyrocket back again. You will never see CatA COE below $60k in the near term.

Why talk about COE when this is a salary forum? Go on topic please. Join the separate COE forum. Salary is about earning, COE is about spending.

Originally Posted by Unregistered

Why talk about COE when this is a salary forum? Go on topic please. Join the separate COE forum. Salary is about earning, COE is about spending.

Discussing about spending is as relevant as about salaries. You can earn $300k pa but if you spend $400k pa (due to buying a $5m property on mortgage, buying a $500k car on instalment, partying every other night, overspending on your credit cards, expensive holidays, women, gambling, drinking, etc), then you will be in big trouble. A person earning $60k pa but owns a paid up small car, a paid up 4 room hdb flat and saves $20k pa is much better financially.

So, discussing about COE is relevant in this forum.

45, $110k pa, saves $40k pa.
Wife, 43, $120k pa, saves $45k pa.
Home is a 3 bedroom condo, valued at $1m. Loan $250k.
Car is a 1 year old car, paid up.
Cash & CPF, $430k.
Total net worth $1.18m.
How are we doing?

Originally Posted by Unregistered_101

You people damn funny is it low self esteem that makes you write this? We buy car don't say anything then call us idiot. If we say something you will call us guai lan.

COE low or COE high if you need just buy, if you need to think so much means you don't really need it or can't really afford it. My COE cost 70K if COE really drops to 30K I don't really care so long as the roads remain clear and not jam packed.

Truth is 1.5K per month is a lot to some people and nothing to others, my car is paid for in cash and why is because I have cash lots of it, my portfolio will include property, stocks, gold the whole enchilada. One thing I don't have much of is a lot of debt.

Generally I don't like to write like this because everyone starts of differently in life. But if you want to go around calling everyone idiots then you're just asking for it, if all of us lived like you life would be so goddamn miserable.

Let me be more explicit (btw I am the "don't buy a cow" poster.

The truth of the matter is that for a 1.5k consistent outflow, a person can get a whole lot more utility.

Eg,
if one is an Ah Beng cheong geyland type - one can cheong 10 x pm. More than enough to satisfy the very basic need for sex.
If one is a person who cares a lot for others, 1.5k monthly donation to any charity in or out of singapore can do a whole lot. It can probably pay for 5or 6 kids in special schools.
If one loves luxury, one can buy a Hermes bag once every 5 months for the wife.
If one loves comfortable domestic life, one can hire 2 domestic helpers.
If one wants to increase one's wealth further, a monthly RSP of 1.5k into a decent equity fund can probably get you about 5-6%.
OR one can get a lousy car.

The point is, unless you have done all of the above and still have a 1.5k cash flow looking for an outlet, the marginal utility of that 1.5k outflow is actually quite low.

That's why I said almost all are idiots. For the very few who are truly wealth eg, regular Hermes purchases, regular charitable donations, regular RSP and etc, then they will NOT be idiots who buy cars. These are the people who can and should buy a car...

Regional Business Manager
145K PA

To be fair, your statement is that "almost all car owners are idiots" is rather extreme.

And while the cost of a car is high now, i think it is far to assume
1. It is likely that car owners in SG have more disposable income
2. Most car owners have family needs and the family car is a means to a less hassle transport alternative
3. Not all cars were bought at the high COE that we saw in recent years. Just 5 years ago, a lot of non luxury cars were below 100k

finally, and i infer from your post, you dont plan to own a car now. But can you say the same if your income grew and with family needs, you wont own a car 10 years or 15 years time ?

Would you then also be agreeable to be called an idiot as per your post ?
Or do u believe only you are capable of driving a car without such a label as per your post ?

Originally Posted by Unregistered

Let me be more explicit (btw I am the "don't buy a cow" poster.

The truth of the matter is that for a 1.5k consistent outflow, a person can get a whole lot more utility.

Eg,
if one is an Ah Beng cheong geyland type - one can cheong 10 x pm. More than enough to satisfy the very basic need for sex.
If one is a person who cares a lot for others, 1.5k monthly donation to any charity in or out of singapore can do a whole lot. It can probably pay for 5or 6 kids in special schools.
If one loves luxury, one can buy a Hermes bag once every 5 months for the wife.
If one loves comfortable domestic life, one can hire 2 domestic helpers.
If one wants to increase one's wealth further, a monthly RSP of 1.5k into a decent equity fund can probably get you about 5-6%.
OR one can get a lousy car.

The point is, unless you have done all of the above and still have a 1.5k cash flow looking for an outlet, the marginal utility of that 1.5k outflow is actually quite low.

That's why I said almost all are idiots. For the very few who are truly wealth eg, regular Hermes purchases, regular charitable donations, regular RSP and etc, then they will NOT be idiots who buy cars. These are the people who can and should buy a car...

Originally Posted by Unregistered

45, $110k pa, saves $40k pa.
Wife, 43, $120k pa, saves $45k pa.
Home is a 3 bedroom condo, valued at $1m. Loan $250k.
Car is a 1 year old car, paid up.
Cash & CPF, $430k.
Total net worth $1.18m.
How are we doing?

It would be fair to say that you are considered a success story in Singapore. In Singapore, if you own and live in a condo and own a car, you can be considered as among the top 10% of the population. These two Cs are the most difficult to attain among the 5 Cs. I think you have achieved the Singapore Dream. Well done.