How much do you earn a month...

[wait4me]

i think if 2k also hard to think of car ....

am i right to say ???

or is it depends on what car model ??

 

casue i can hear ppl keep saying ..

no $$

need to pay road tax ,

need to pay car park ,

need to do servicing

then scrrim and save ..

jus to mod the car with extra money

[followthelaw]

I earn ard 9k per mth,thgt o getting a set o wheels to tpt my family ard,any good advice for an affordable MPV.

[Throttle]

Do you have other commitments like house etc?

How about lump sum Cash?

It all depends on your overall commitment and how much you want to spend.

If your finances are fairly unencumbered, i dont see a problem getting a good value MPV. Plenty out there, just pick one you like.

 

I hate MPVs so got no comments on which one. heh he .

[followthelaw]

Yes,wife working in MOE,earning abt 3k odd, 2 kids,very young,father working,mother housewife,got a maid. I thinking what to get

[Throttle]

Get the ever popular Toyota Wish, then.

Cheap and good.

Or Honda Odyssey for a better quality build overall.

Many many MPVs in the market, just scout around.

Down 50% and loan 50% over 5 yrs, will be very affordable for you.

[R.C]

Odyssey sounds good.

 

Many other MPVs. Can take a look here...

 

http://www.sgcarmart.com/new_cars/new_cars_listing.php?VT=MPV&TYPE=1

[Guest limpeiwah]

Limpei,

 

that is not my porsche. notice the date is 1995, i was only 22 yrs old then.

ah sia kia....hahaha

 

 

hee hee. your cars all very nice. how much u bought that lovely thunderbird for?

[Throttle]

wah , you reply me so late?

 

the thunderbird is for sale, i'm taking it for a dyno tuning this saturday. place your bid. heh heh

[RidingLow]

hi.. needed advice from you guys...

i'm planning to get a new civic 1.6 at the end of the yr.

my income is $4K

intend to d/p 10%

loan 7 yrs.

my gf willing to chip in 50% of installment.

 

what do you guys think.. should i get it?

just trying to do my maths before i commit to anything.

beening plannin to get a car since i am earn 2.5 till now haven made up my mind.. haha

[Throttle]

Do you want the honest truth?

Please dont take it personally but with only$4kpm salary, you cant afford it comfortably without having to forgo a lot of more important things in life.

 

I guess you must be quite young still. dont fall into the trap of getting a car becos everyone else has one. When **** hits the fan, all these people will be shredded. Proven time and time already. You have many years to buy a car.

 

If your girlfren is willing to chip in 50%, that helps but you must consider that money and relationships often dont go hand in hand.

 

for a new Civic and DP of only 10% i estimate your loan amt to be $55k+++

so your total payable over 7 yrs is probably about $70k.

 

I dont expect everyone to be like me DP 70%-80% of the car price and loan no more than 3 yrs but I'm just advising you so as not to let the car own you instead. I will break down for you in my next post

[Throttle]

for simplicity, i round up every thing to big figure and use conservative estimates.

 

Here I am calculating your expenses in owning the car for simplicity sake again and not the true cost.

 

here we go...........

 

Taking $65k for civic DP 10%

your loan amount is $59k

7 yras at 3%pa you total loan amount is $71k or $10k pa

road tax $1k

Insurance $1.5k

Parking in HDB ($50 X 12) $600

Parking at work ($150 X 12) $1800

Parking elsewhere ($5 x 52 wkends) $260

Petrol ($200 X 12) $2400

maintenance $200

ERP ($1 X 350 days) $350

 

total $18,110 per year.

 

You say you earn $4k? I multiply by 15 (adding 3 months bonus)

Total $60k. we dont count income tax.

 

You are left with about $40k a year or $115 a day to do everything else.

example housing, food, savings, entertainment, shopping etc....

 

It would probably be more prudent for you to buy a secondhand car for a much lower financial commitment in my personal opinion.

 

Cheers

 

p.s. after 7 yrs, after all these expenses, you will be left with a car worth $10k in paper value?

[Throttle]

A car is an expense, the only question one has to answer is :-

 

how much am I willing and able to fork out as an expense to own a set of wheels. Once you are mentally prepared and financially ready, it's simple. just point and choose. cheers

[RidingLow]

thank you for you advice Throttle.. realli appreciate it. guess its still not wise for me to get a car now. i wait till i hit 5k den reconsider. haha..

[nhyone]

I was going to say you could always save up first. Then I calculated that saving $500/mth for 5 years gives you "just" $30k! You still need to loan another $20-30k, which means paying $500/mth for another 4-5 years.

 

Getting a car most likely requires some sacrifice in other areas. The question is, can you afford not to own a car? Having a car when you're young is different from when you have a family. I'm sure by that time you're not getting the car you really want either.

 

I didn't have a personal transport when I was younger, and looking back, that could have been a mistake. It was liberating when I got my bike -- being able to control your own timing is great!

[Throttle]

Savings only $500 monthly, one shouldnt be thinking about a car. but due to society (peer pressure, vanity etc....) now, I know many do. Spreading yourself too thin, is asking for it.

 

I prefer the car to be my slave and never vice versa.

[Throttle]

Getting a car most likely requires some sacrifice in other areas. The question is, can you afford not to own a car? Having a car when you're young is different from when you have a family. I'm sure by that time you're not getting the car you really want either.

 

You hit the spot but your question is a Salesman tactic question. haha

The real question is , "how much can you sacrifice in other areas?"

 

Also if you have a car when you are not ready, you may end up not being able to have a family becos having a family requires a fair bit of money too.

 

Bottom line, my advice is just be prudent. thats all.

[omnislash]

hi.. needed advice from you guys...

i'm planning to get a new civic 1.6 at the end of the yr.

my income is $4K

intend to d/p 10%

loan 7 yrs.

my gf willing to chip in 50% of installment.

 

what do you guys think.. should i get it?

just trying to do my maths before i commit to anything.

beening plannin to get a car since i am earn 2.5 till now haven made up my mind.. haha

 

What you need a car for?.... Traffic jam, hard to find parking, expensive.... Only upside is shelter and aircon, PERIOD. Weigh the pros and cons yourself...

 

Unless its really your passion/dream den go I chui tat lan....

 

I know of couples who share the car end up breakup... Sad sia...

 

Save your $$$ buy flat better.. At least can grow in value or wont deprieciate so much....

 

I know some pple drive car feel very sud khee.... BUt how long can it last...

 

I'll only buy car when I have a kid.... Once he's old enuf to wear helmet, take my bike....

[R.C]

Riding low, why don't you consider getting a cheaper car? say a vios or something?

[Throttle]

COE up leh this round.

[Maldini03]

I hope sharing my opinion will help someone in one way or another

 

I read a few posts mentioning that no point getting a car whereas a bike can do the job, I disagree that bike is compared to car. Save $$?? no traffic jam?? no parking?? Maybe,

 

Depends on yr luck, unless you can foresee no fatal accident in yr life. imagine leaving dependant behind when they need you most, yr parents who spend so much $$, time and emotion on you then u jus selfishly go to the west. Consider the body injuries which may be permanent or the possibility of loss of incomes. not forgeting the medical fees along the way. It may be more costly than a car in the long run. Just imagine someone lying on the hot tar rd bleeding profusely with excruciating pain on his back, while waiting for the ambulance to arrived. Importantly he wasnt to blame for. But sadly there is nothing he can he do to reverse the happening.

 

safely riders?? humans are not perfect, we make innocent mistakes. eg distracted by work issues.. And importantly you are not the only user on the road... yr safely still depend on someone else.

[Maldini03]

My advice to those dreaming of owning a car. Dun envy others, Many have work hard to earn it, u should too. Why resigned yrself to fate by calculating mentally every night on the car. very pei chek.

 

I am a salesman, a medicore job, i work 13hrs everyday, I work very hard and when I own a nice car, people either say u lucky or envy yr job. I have a friend who dream of EVO all day, when i offered him a sales job he declined, saying it is difficult... no stress = no $$. I think he will continue to dream for the rest of his life... sigh..

 

If yr pay is fixed, the rest of yr life is predictable....

 

hope my post open some doors to yr dreams....

[xb84]

I hope sharing my opinion will help someone in one way or another

 

I read a few posts mentioning that no point getting a car whereas a bike can do the job, I disagree that bike is compared to car. Save $$?? no traffic jam?? no parking?? Maybe,

 

Depends on yr luck, unless you can foresee no fatal accident in yr life. imagine leaving dependant behind when they need you most, yr parents who spend so much $$, time and emotion on you then u jus selfishly go to the west. Consider the body injuries which may be permanent or the possibility of loss of incomes. not forgeting the medical fees along the way. It may be more costly than a car in the long run. Just imagine someone lying on the hot tar rd bleeding profusely with excruciating pain on his back, while waiting for the ambulance to arrived. Importantly he wasnt to blame for. But sadly there is nothing he can he do to reverse the happening.

 

safely riders?? humans are not perfect, we make innocent mistakes. eg distracted by work issues.. And importantly you are not the only user on the road... yr safely still depend on someone else.

 

agreed. thats why i stopped riding, in future get a "weekend" ducati for fun when finances allow.

[xb84]

Savings only $500 monthly, one shouldnt be thinking about a car. but due to society (peer pressure, vanity etc....) now, I know many do. Spreading yourself too thin, is asking for it.

 

I prefer the car to be my slave and never vice versa.

 

yar lor. i can full cash a new honda civic now, but i still choose to take the bus and nap b4 i reach school in orchard.

[philiplolc]

i know of ppl making $8k-10k a mth and still take a bus.. saving & investing.. planning to retire at 45 yrs old..

 

or own family to support & making only $2.5k but die die also buy new car.. income all going to feed the car..

 

all depends on your priorities in life.. enjoy now or later..

 

personally i'd think if single (not married with kids) minimum $4k a mth income before even considering full loan on a cheap car, something less than $50k.. if u got savings to pay for half is another thing.. also depends on your financial commitments, nothing extraordinary..

 

anything more expensive, or you're earning less, you're just asking for it..

 

cars are a waste of money.. how much can you afford to waste that's the question?

[Throttle]

Dude, $8k to $10k only cannot retire at 45 lah.....

We live in Singapore leh

For $8k - $10k a year can retire at ,....hmm....72?

 

If now 30 yrs and want to retire at 45, need $50k per month at least, in my opinion (base on family of 4 with above average lifestyle and fully paid property) Of course disputable depending on lifestyle.

 

anyway thats why I still working like a dog ........