How much do you earn a month...

[Throttle]

IMHO, getting a car just because of a new addition to the family is also a big no-no. A newborn already adds significant financial strain on the family, what more a car... you'd be better off saving the $10k+++/year expenses on the car and investing it for your child's education.

 

Admittedly, I would like to have a car too (to complement my bike), but I doubt I can ever convince myself to get one, unless my current salary increases by at least 3 fold.

 

*these are personal opinions, based on my own family situation:

Married, no kids, combined income ~$7k, 20year mortgage covered by CPF, almost no debt except my bike loan etc...

 

 

those are very fair comments.

with combined $7k, you definitely should look to save more first.

all the best

[Throttle]

What about newly-weds who wanna buy Honda Civic? Considering 20-25% dp, how much is a good household income to be able to afford a new Civic 1.8L?

 

And also, typically, how much do one need to earn to be able to afford a 530i?

 

TIA.

 

Let me give you my version.

 

Newly weds (i assume means young couple starting out with no assets)

Young couple (i assume not silver spoon)

Not silver spoon (i assume average income)

Average income (I assume combine $8k)

 

If newly wed, young couple, not silver spoon, average income, full of debt, i recommend to save your money first and be more down to earth. The car can come later. Or get a cheaper car, slowly upgrade.

 

Dont put so much financial stress on yourself

 

 

==================================================

[Throttle]

 

And also, typically, how much do one need to earn to be able to afford a 530i?

 

TIA.

 

 

Again depends on which stage of life and how mow assets you already have.

For me to be comfortable, for me I would say at least $30k per month.

 

I am very down to earth, cause i basically will only buy a car which i can full cash at least a few times. So my buffer is a lot in case of anything. I am kiasee, not kiasu. Kiasu will buy a car which is a few times more than their annual salary.

 

Nowadays i see many youngsters drive cars. it's a strong temptation, for youngsters but plse do it only if you can really afford. affording doesnt mean you become a slave to the car.

[paithorn]

Again depends on which stage of life and how mow assets you already have.

For me to be comfortable, for me I would say at least $30k per month.

 

I am very down to earth, cause i basically will only buy a car which i can full cash at least a few times. So my buffer is a lot in case of anything. I am kiasee, not kiasu. Kiasu will buy a car which is a few times more than their annual salary.

 

Nowadays i see many youngsters drive cars. it's a strong temptation, for youngsters but plse do it only if you can really afford. affording doesnt mean you become a slave to the car.

 

I can't agree more! Many ppl nowadays are buying liabilities, not luxuries....

[GuiNNeSS]

i seen many people who are so cash-strapped because they buy a car. i rather be cash rich than to be slave to a car. a couple of people who earn double than me, i only earn 2.5k, they earn 5k and they wanna borrow money from me because of their car.

 

now i rather has lotsa of cash, able to pamper myself freely. I still stick to my bike

[Maldini03]

I disagree..... Whether are cars a form of liability is purely subjective.

 

Singaporeans are getting wealthier. I have witness ridiculous income of our fella singapore. Cars are very affordable for this "young rich." Most of my clients, in the late twenties are earning monthly 5digits income. They dun realli consider that much because to them they find it affordable and this type of people are common in singapore.

 

So the fact that we should be concern with is, are we earning below the mean income?? if yes then that explain why you think cars is a big liability. In other words they percieve it as luxuries and we percieve as liabilities. sigh!!

 

Well a typical toyota or nissan japanese salon car only cost ard 55k ++ Well i believe it is still rather affordable.

[Throttle]

As long as one can afford, no problem.

But many cant yet still try to do so.

That is the problem.

 

5 digit monthly salary is no big deal. One has to learn to balance things. in doremo's example those fellas are reaaly lame.

[xb84]

I disagree..... Whether are cars a form of liability is purely subjective.

 

Singaporeans are getting wealthier. I have witness ridiculous income of our fella singapore. Cars are very affordable for this "young rich." Most of my clients, in the late twenties are earning monthly 5digits income. They dun realli consider that much because to them they find it affordable and this type of people are common in singapore.

 

So the fact that we should be concern with is, are we earning below the mean income?? if yes then that explain why you think cars is a big liability. In other words they percieve it as luxuries and we percieve as liabilities. sigh!!

 

Well a typical toyota or nissan japanese salon car only cost ard 55k ++ Well i believe it is still rather affordable.

 

what u disagree with? u sound like you are on the same line of thought.

[xb84]

As long as one can afford, no problem.

But many cant yet still try to do so.

That is the problem.

 

5 digit monthly salary is no big deal. One has to learn to balance things. in doremo's example those fellas are reaaly lame.

 

haha what about those out there taking loans on motorcyles that cost less than 24k. (with exception of those who need it for their work)

[Throttle]

Well a typical toyota or nissan japanese salon car only cost ard 55k ++ Well i believe it is still rather affordable.

 

Yes very affordable for average person earning $5k pm. so many rich people in singapore, i wonder what is the mean income for Singaporean? $10k pm? willis you know?

[Maldini03]

I also dun noe the mean income...

 

yup 5 digit is nothing, I have a client who is a professional and he earns almost 6 digit. I do not earn a 5 digit pay. And everytime i see their pay, i feel so lowly paid. sigh...

 

Like i mention, a car is a luxury if u can well afford it. Only a liability if u cant afford it. In a nutshell.... if u dun feel comfortable to buy it jus mean u are not financially confident/ready. Postpone yr plans but dun say car is a liability because it only shown that u cant afford. It is suppose to be a luxury to those who can afford.

 

jus my 2 cent worth...

[GuiNNeSS]

ya car is a liability coz i cant afford.

[Throttle]

what u disagree with? u sound like you are on the same line of thought.

 

Hahah, exactly.

[paithorn]

what u disagree with? u sound like you are on the same line of thought.

 

he is confusing to me too........

[Throttle]

haha what about those out there taking loans on motorcyles that cost less than 24k. (with exception of those who need it for their work)

 

It's not wise either although the burden is not so great.

Let's put it this way, as long as they dont grumble, work hard for it and dont screw themselves or other people when things go wrong.

who cares right? car or bike or house or boat, whatever.

 

I think the message is simply - not to get into trouble by biting more than one can chew. especially when it's just wheels.

[GuiNNeSS]

relax la, we dun mean everybody who got a car got a liability, living within your means most impt.

[Throttle]

 

yup 5 digit is nothing, I have a client who is a professional and he earns almost 6 digit. I do not earn a 5 digit pay. And everytime i see their pay, i feel so lowly paid. sigh...

 

 

 

Aiyah, it's OK. there's always a higher mountain, we need to be contented with the grace that we already receive.

[philiplolc]

...Like i mention, a car is a luxury if u can well afford it. Only a liability if u cant afford it. In a nutshell.... if u dun feel comfortable to buy it jus mean u are not financially confident/ready. Postpone yr plans but dun say car is a liability because it only shown that u cant afford. It is suppose to be a luxury to those who can afford.

 

jus my 2 cent worth...

so if the filthy rich buys a car, its considered an asset?

 

mr.kiyosaki would not agree with you.. its either an asset or a liability, and last i remembered a luxury is still a liability..

 

either way, i've got too many liabilities..

[xb84]

so if the filthy rich buys a car, its considered an asset?

 

mr.kiyosaki would not agree with you.. its either an asset or a liability, and last i remembered a luxury is still a liability..

 

either way, i've got too many liabilities..

 

right. a car will always be a liability.

[xb84]

relax la, we dun mean everybody who got a car got a liability, living within your means most impt.

 

actually, having a car is having a liability, regardless who makes the purchase, it depreciates and requires maintenance, road tax, insurance, parking.

 

but it could be an asset if its a goods vehicle that u use to make deliveries, it helps u make money.

[warrior.c.o.n.p]

actually we hv to think bout hw much we gonna put a side for a month..

for those who earn big income then muz hv no prob gettin' a car..

[chuacheesiong]

just to share for those who are thinking of getting a car, read my previous posts. Hope to help those avoid the pitfalls i have suffered...... consider a weekend car? road tax only 150 each YEAR! even though i earning 5 figure/month, still find owning a car a drain on resources...... but sometimes the dark side is too strong to resist.....

[Throttle]

yah, my office moving to a location where i got no carpark.

damn sian. it's more convenient to take a cab to work, and a bus after work than to drive my car.

 

thats why i thinking of downgrading to an AudiA4 2.0 or 1.8T

save $30k upfront also better than nothing.

 

sian.

[xb84]

yah, my office moving to a location where i got no carpark.

damn sian. it's more convenient to take a cab to work, and a bus after work than to drive my car.

 

thats why i thinking of downgrading to an AudiA4 2.0 or 1.8T

save $30k upfront also better than nothing.

 

sian.

 

is it me or are there more cars on the roads?

 

i had a make-up class this evening which ended at 945pm, the drive back home too longer than when i had night classes 6mths ago.

 

nowadays when i go out for late night supper, i'm being forced to park further away from my lobby.

 

now that many URA carparks in orchard have been taken away, i wonder if the new shopping centres provide sufficient parking.

[Guest NPNT]

haha what about those out there taking loans on motorcyles that cost less than 24k. (with exception of those who need it for their work)

What is wrong with taking loan even if it cost less than $24K?

 

The cash in hand can be used for other investments.

 

U r laffing at those people, Mr onefour02 (former)?