Personal Finance
Top 3 Mistakes To Avoid When Purchasing a Second-Hand Car
By ValueChampion  •  November 20, 2020
The average cost of a compact car was about S$100,000 in 2019—that’s ridiculously expensive. Regardless, there’s no denying the convenience of owning a vehicle, especially if you have young children or elderly parents to ferry around. Enter, second-hand cars, which cost a fraction compared to a brand-new vehicle. Despite the cost savings associated with used cars, it’s no secret that the used car industry (dealerships, especially) has gained somewhat of a notorious reputation for being a financial minefield. So how do you ensure that you’re getting the most bang for your buck on a second-hand car? We discuss 3 mistakes you should avoid if you are in the market for a used car. Mistake 1: Not Comparing All the Car Loans Available Despite the lower price point, forking out roughly S$30,000 upfront for a used, compact car is still extremely difficult for an average Singaporean consumer. This is where vehicle financing comes into...
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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