Personal Finance
Personal finance – Car Management
By Wake up your finance  •  February 18, 2012
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 ...
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4 Comments

4 responses to “Personal finance – Car Management”

  1. Drizzt says:

    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

  2. Patrick See says:

    HI,

    Great work! Both of you.

    What a team! Thanks for the sharing…

  3. Rachellim says:

    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..

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