Having owned a pre-loved car for slightly more than a year, I wanted to reflect on whether it's a good way to burn the money and also to gauge what's the real cost of owning a car. I did some calculation before buying, now it's time to check back those assumptions and verify it once and for all whether those assumptions are rubbish or not
*Items that are estimated means that I take the amount spent for 1 yr and divide it by 12 to get an estimated monthly charge
One time expenses:
First car inspection before taking the car: $142
Downpayment: $16,000
Major car servicing: $560
Total one time payment: $16,702
Monthly expenses:
Season parking : $65
Fuel : $260 (estimated)
Cashcard: $50 (estimated)
Insurance: $120
Carpark Coupon: $4 (estimated)
Car wash: $5 (estimated)
Monthly installment: $359
Total monthly payment: $863
Even before the new rules set in, I'm ......