Many years ago, I was debating with a good friend how much we needed to earn before we can afford to buy a car. The amount came to 3,000SGD. However, after much deliberation, I realised the amount is greatly insufficient.
I always wanted to get my own car since I started work, images of sports car was always on my mind. I dreaded the long journey to work on a bus and the need to wake up early.
Having a car back then was a "plus point" to look good in front of chicks and is a sense of personal achievement.
Looking back now, I think it was a matter of going through a phase in life where you just wanted something new.
I got my car 8 years ago and I am still driving the same car, I must say I am the rare breed to continue driving a car for so long ...
...I always wanted to get my own car since I started work, images of sports car was always on my mind. I dreaded the long journey to work on a bus and the need to wake up early.
Having a car back then was a "plus point" to look good in front of chicks and is a sense of personal achievement.
Looking back now, I think it was a matter of going through a phase in life where you just wanted something new.
I got my car 8 years ago and I am still driving the same car, I must say I am the rare breed to continue driving a car for so long ...
The cost of car ownership goes beyond car loan. I cam up with a cost of car ownership calculator to help people evaluate most of the costs going into it.
You will be surprise a car with a loan of 550 per month can come up to 1100 per month!
http://www.investmentmoats.com/CarOwnershipCalculator/index.php
Thanks Drizit, your calculator is extremely detailed, I guess this will put people off buying cars after they use it~! ha
HI,
Great work! Both of you.
What a team! Thanks for the sharing…
Now car COE so high how to afford to buy a car..
I think instead of buying a car, renting a car will be cheaper..