Just the other day, I come across this
thought-provoking discussion thread started by an anonymous member on Seedly.
Whoever it is who posted this question.
.
.
.
I feel you.
The pressure of keeping up with the Joneses in a
materialistic society like Singapore is strong.
But, since you asked, let me break it down to see if it makes sense to buy a car in Singapore even if you can afford it.
TL;DR: Singapore Car Price — Should You Own a Car in Singapore Even if You Can Afford It?
- Owning a car in Singapore is expensive. Getting an expensive car like the Audi A5 Sportback as an ‘indicator’ of wealth and status is a liability can set you back $228,000 after 10 years!
- Spending money on cars has an opportunity cost as well.
| Amount Invested |
Rate of Return |
Amount After 10 Years* |
| $1,900 monthly |
2% |
$249,650 |
| 4% |
$273,740 |
| 6% |
$300,522 |
| 8% |
$330,294 |
- There are good reasons to own a car in Singapore but getting a car to elevate your social status is not one of them.
...
