Buy Car or stick to Taxis??
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According to Mr Brown, the cost of owning cars is about $1,800 as opposed to close to $1,000 when hiring taxis per month. I rather have the 24/7 convenience of a car. What do you think is the best of the two and why?
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you can only consider buying a car if u have 30% or 20% cash and able to service the loan in 7 years. If u go for 10 years with no Deposit kinda scheme , you are going to lose a lot of $ if u sell or change your car mid way.
COE is now so expensive doesnt make sense to buy a car unless u are flushed with cash. Yea convenience 24/7 but at what price? think how much value convenience is to you and u should be able to get the answer.
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Having a car is of course more convenience than hiring taxis, you got your own time, own pace and own travelling in total privacy. Can even travel up malaysia. But if your paycheck is only $3 to $4k, you better think twice, instead of saving, all yr hard earned money might just go into the car, from non asset cost of carparking to servicing to fuel and ever increase in taxation and insurance, it can cost you a bomb not worthy of your opportunity cost.
And also not to mention the fines, maintenances and change of parts.
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You can still take a cab even when you own a car.
This is called best of both world.
Swee bo
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my parents were more lucky, they have pension, huge cpfs, so they can pay cash and never have to slog till 62 like us or take huge loans and end up a bankrupt. What happen to our pension?? The silver generation can sure afford to take car and cab in Singapore unless they had gambled all their money at Marina Bay Sands!
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If u can afford a Rolls Royce but dun care about driving, find a chauffeur or a regular limo cabby
If u can afford a R-type but dun want to drive, flag or book a limocab
If u can only afford a used subaru R1 but dun want to worry about parking, TP, LTA, then just flag or book a taxi
If u cannot even afford a 20% down payment on a COE car like a 15yr old civic, please take the bus, mrt or just walk
If u cannot afford a car or dun want to pay for a car but enjoy driving, be a cabby
If u can afford a mercedes, love driving and fetching people, be a ........
If someone gifted u a bentley, maserati or phantom, then u must be one fucking lucky .........
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Buying car is something like paying a 100k, drive the most 2hrs a day, then the rest of 22 hrs just display it at the car park.
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Originally posted by f1taxidriver:
If u cannot afford a car or dun want to pay for a car but enjoy driving, be a cabby
tis is a good one! -
Buying a car is Bery expensive now, with the COE at sky premiums (especially if you opt for a brand new one).
If you just want a normally car ride... get a second hand car... (depreciation is not that extreme as compared to brand new ones for the initial 3 yrs).
As bro BCL had mentioned above, if you go for high loans, with little cash up front, the compound interest will burnt a hole in your pocket... make sure you go for the cheapest finance loan deals as possible.
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buy car.
it is a status
remember the 5 Cs?
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Now 5Cs also not enough to get you a Singapore girl. If you're lucky enough to get a girl, All you end up with is being saddled with huge debts, then she may leave you after that. But certainly a car is most tempting to most Singaporeans as Ah Gong says it is a status symbol for most of us!
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Originally posted by Harendyong:
Now 5Cs also not enough to get you a Singapore girl. If you’re lucky enough to get a girl, All you end up with is being saddled with huge debts, then she may leave you after that. But certainly a car is most tempting to most Singaporeans as Ah Gong says it is a status symbol for most of us!
buy a vietnam virgin more worth it
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Originally posted by Ah Gong:
buy a vietnam virgin more worth it
mmmm.................priceless pearls of wisdom...............
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can afford then buy.
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actually, the cost of the COE is driven up by 2 sets of people...
the car dealers.. if they promise someone a car, die die also must get the COE so they go and anyhow bid really high.. the most pay the lowest successful bid, if i bid $100k and the lowest successful bid is $50k, i pay $50k for the COE but i am guaranteed a COE... if the COE price is high, taichi over to the buyer...
then there is the taxi companies... the taxi fleet going to scrap... need a few hundred taxis or else the taxi drivers got no taxis... die die must have COE... so they as a company go and bid really high to ensure they have taxis.. costs can taichi over to the taxi driver by increasing rent, and/or taichi over to the passengers by increasing fares...
in the end, those who need vehicles, like those with elderly invalid parents, those with injuries or disabilities which are not covered by whatever regulations will suffer...
if LTA removes these two lots of people from the COE bidding, the COE price will drop like a lead balloon... but since it's been going on for ages and MBT designed this for maximum profit generation, it will never happen
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Everything goes up in Singapore except our pay. Just doesn't make any sense! How to take Taxis or even have the chance to own a car?? still got trishaws here?
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I'd like the thought of convenience from owning a car, however the cost of owning one puts me off. Traffic is another major turn-off.
I have put off the thought of getting a car the past 3 years, and hence, I have the money to spend on other goodies in life.
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2nd hand ones also went up accordingly....
Look out for the COE & PARF values if you are looking to buy one.....Pls take note that 3yrs ago, the COE are dirt cheap... you may have a problem re-selling back to the market if the COE dropped like crazy.
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I bought a new car last September.....
If I sell it now..... make $$$$$. Buy car also make $$$$..... amazing.
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Taxi, because you don't ever have to worry about parking one.
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car if got family.....
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I had a car when i was living in Canada.. Cheap ! But when i moved back to Singapore, i was almost about to get one until i did a count and found out cabbies are way cheaper.. It's been 2 years since i've been back and been taking cabs daily to work and home.. =)
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Taxi. No need care about COE, ERP, Road Tax, Petrol, Insurance, Parking, Maintenance and best of all, Kena accident confirm not your fault.
Actually taking taxi you still need to pay for ERP but at least you pay using cash, no need worry about cashcard no value
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I think it's relative isn't it? Having a car here really depends on whether you can afford it. If you're earning $250k p.a, I don't see why you need to worry about the cost. There are definitely pros and cons when it comes to this. Cons of Car = COE, road tax, petrol, parking, maintainance, fines etc. Pros of Car = asset (but depreciating asset), convenience, comfort, freedom, look good? But if you can't really afford the high cost of buying a car in the first place but still want one, then do what my friend did. He got a finance loan from one of the banks...DBS or OCBC I think. And he went ahead and got himself a car..now I think he eats bread and drink water everyday.