For most sales person, a car is a necessity. I remember how it was compulsory to have a car for me to get my first job. No car, no job.

How nice if I could own a red car

In 2009, I bought myself a second hand car. It was a luxurious buy for me as a new graduate. At that time, the economy was doing badly due to Lehman brothers so COE was hovering around 5 to 15k. I could only afford the cheapest which is a 2 years old Toyota Vios at 42k with COE at 12k. Unlimited loans that could stretch to 10 years were possible and interest rate were really good at around 1.3%, so that was it.

As my parents put it, I have not started earning money but only know how to spend money first.

Terrible. Monthly savings were pathetic due to the car loan. Most companies give $800 (SME) to $1500 …